Tuesday, 16 September 2014
Last updated 12 hours ago
Nov 17 2010 | 5:21pm ET
ValueAct Capital will close to new investors next year after raising $500 million, the firm said.
The San Francisco-based activist hedge fund currently manages $4.5 billion, and expects to reach the $5 billion mark in the first or second quarter of next year. When it does, it will close to new investors for three years, MarketWatch reports.
ValueAct managed as much as $6 billion three years ago, when Affiliated Managers Group took a 25% stake in the firm. But the firm had sunk to as low as $3.5 billion last year after it was hit by a wave of redemptions during the financial crisis.
The firm does not plan to add to its investment staff of six partners to handle the new millions. ValueAct's strategy is to take relatively large stakes in mid-cap companies, with between 10 and 15 positions, and hold them for several years.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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