Friday, 25 July 2014
Last updated 14 min 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…