SAN FRANCISCO (PRWEB) June 24, 2020
ValueAct Capital (“VAC”) Founder Jeff Ubben is retiring after 20 years at the investment firm to undertake a new professional challenge, launching Inclusive Capital Partners. Ubben will assume the title of Chairman Emeritus at VAC upon retirement.
“We started ValueAct Capital 20 years ago with an untested investment strategy—that a minority investor in the public markets could positively impact a company’s trajectory from inside the company board room,” Ubben said. “All these many years later,” Ubben continued, “it’s the right time to depart. ValueAct Capital is a vibrant established leader in active public market investing, with a deep and experienced team in place. I’m confident they will continue to do great work on behalf of their dedicated clients for the next 20 plus years and I intend to remain a significant personal investor.”
“With the same enthusiasm I felt 20 years ago, I am happy to announce the formation of Inclusive Capital Partners,” Ubben said. “It is the next iteration of my investing career — scaling another untested strategy – that working with management teams and boards with the courage to lead on solutions to climate change and social inequity can generate massive shareholder value.” In addition to Ubben, Inclusive Capital Partners is being co-founded by George F. Hamel, Jr., VAC co-founder; Lynn Forester de Rothschild, Founder and CEO of the Coalition for Inclusive Capitalism; and Eva Zlotnicka, Managing Director of the ValueAct Spring Fund.
In early 2018, Ubben launched the ValueAct Spring Fund with the mission of demonstrating that long-term value can accrue to business models that address the world’s environmental and societal problems. Ubben will continue managing the ValueAct Spring Fund after he transitions to Inclusive Capital Partners together with the entire ValueAct Spring Fund investment team.
“Jeff and I have enjoyed a very close relationship and have worked together for more than 20 years to position ValueAct Capital as the shareholder of choice for boards and management teams as they transform and grow their businesses,” said Mason Morfit, CEO and CIO of ValueAct Capital. “I share the team’s admiration for all that Jeff has achieved. He has always been a big thinker, and that vision and tenacity, along with his unique and highly successful investment experience, is an ideal mix to seek to prove out the thesis that responsible capitalism can be a bridge to positive environmental and social change. We are all very grateful for Jeff’s contributions and wish him every success going forward”.
ValueAct Capital’s succession plan has been successfully executed over many years. In 2013 Morfit was named President, in 2017 Chief Investment Officer and in December 2019, Chief Executive Officer of VAC. The experienced investment team of VAC’s flagship fund remains fully intact.
In addition to launching Inclusive Capital Partners, Ubben is also launching the Inclusive Capital Partners Foundation which will be dedicated to executing mission-driven philanthropy, focused on advancing economic, social, and environmental inclusion.
Long time minority investor in ValueAct Capital, Affiliated Managers Group (“AMG”), has been involved in the succession plan at VAC, and will continue its relationship with Ubben as a minority investor at Inclusive Capital Partners.
About Inclusive Capital Partners:
Inclusive Capital Partners was formed in 2020 by a team of experienced investors with a shared passion for positively leveraging capitalism and governance in pursuit of a healthy planet and the health of its inhabitants. Based in San Francisco, the investment firm seeks long-term shareholder value through active partnership with companies whose core businesses contribute solutions to this pursuit.
About ValueAct Capital:
ValueAct Capital, established in 2000 and based in San Francisco California, is an investment firm managing capital on behalf of some of the world’s largest institutional investors. ValueAct Capital seeks to identify and invest in high-quality businesses that are temporarily under-valued, taking a patient, collaborative and constructive approach to value building for all stakeholders with long-term investments. The firm generally holds a concentrated number of investments at any given time, and ValueAct Capital’s own partners have built a track record serving on 46 public company boards.