Hedge Funds

ValueAct Capital grabs Siebel CEO

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Let it not be said that activists don't value the wisdom of the corporate chieftains with whom they so often butt heads.

ValueAct Capital, a $3 billion San Francisco private investment partnership that straddles the line between activist hedge fund and full-flown private equity shop, demonstrated its consideration for its corporate targets with the hire of J. Michael Lawrie, former CEO of Siebel Systems, one of the firm's investments.

Lawrie becomes the seventh investment partner at ValueAct. He will work from the firm's Boston office and will be involved in all of the existing and future names in the