On Succession, ValueAct Hedge Fund Practices What It Preaches
ByJeffrey W. Ubben has long been a different kind of activist investor. Mr. Ubben, a founder of ValueAct Capital, largely avoids the limelight and mostly works with companies behind the scenes to improve performance, often focusing heavily on corporate governance.
Now Mr. Ubben is practicing what he preaches by putting into effect his own orderly succession.
In passing control of the firm’s $16 billion portfolio to his longtime deputy, Mason Morfit, Mr. Ubben is promoting a degree of continuity that is rare in the hedge fund world. Mr. Morfit was one of his first hires after ValueAct’s founding in 2000, and he has played a major role in some of its most prominent investments, including holding board seats at Microsoft and Valeant Pharmaceuticals International…
On Succession, ValueAct Hedge Fund Practices What It Preaches
