Friday, 26 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.