ValueAct To Raise $500M, Close To New Investors

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.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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