ValueAct founder Jeff Ubben declared “finance is, like, done” as he left to start an ESG fund. But his new gig will benefit if he is wrong, write rob_cyran and AntonyMCurrie.
Jeff Ubben is leaving ValueAct Capital, the hedge fund he founded 20 years ago, Reuters reported on June 23. Ubben had stepped down as chief investment officer in 2017, giving the role to Mason Morfit, who also took over as chief executive in January.
Ubben will for now keep managing ValueAct’s $1 billion environmental, social and governance-focused Spring Fund and is also setting up a separate ESG investment vehicle called Inclusive Capital Partners. Affiliated Managers, a $600 billion asset manager that took a stake in ValueAct in 2007, is a minority investor in the new venture.
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