Glenview Capital, the US-based hedge fund, has raised it stake in Punch Taverns, to nearly 20%. The fund, led by Larry Robbins, increased its shareholding in the company to 19.98%, up from 13%, representing 131,792,314 shares in the company. Glenview reduced its interest to 8% in December 2009, when the shares were down at 65p. Glenview gradually raised its stake during 2010. Earlier this week, Punch Taverns shareholders approved the demerger of its leased and managed pub businesses to create two separate companies on 1 August. Dealings in shares of the newly formed Spirit Pub Company, which will operate c800 managed pubs, will commence from 8am on that day.