Hedge Funds

ValueAct increases its activist war chest


ValueAct Capital Management, the San Francisco-based activist hedge fund manager founded by Jeff Ubben, will reopen its flagship on May 31 for another $1 billion. Separately, a newly launched small-cap activist fund is quickly reaching capacity.

Jeff Ubben

The highly successful $5 billion ValueAct Capital Master Fund, a long-only vehicle, reached its current size without opening for more than five months since it launched in October 2000. The Master fund opened briefly in 2003 to raise $300 million and again in 2005 for another $800 million.

ValueAct has established a reputation as a “friendly activist” that