Blue Harbour Group Explained

Blue Harbour Group
Industry:Investment Management
Location City:Greenwich, Connecticut
Location Country:United States
Area Served:Worldwide (investors); North America (investments)
Key People:Clifton S. Robbins (Founder and CEO)
Num Employees:18
Aum:US$ 2.1 billion
(as of June 30, 2019)[1]
Homepage:www.bhgrp.com

Blue Harbour Group was an American investment firm that managed capital for pension funds, endowments, sovereign wealth funds, labor unions and other institutional investors.[2] The company was based in Greenwich, Connecticut.

Blue Harbour had an Environmental, Social and Governance (ESG) component to its investment process, and had been a signatory to the UN Principles for Responsible Investment.[3]

History

Blue Harbour Group was founded in 2004 by Clifton Robbins,[4] also known as Cliff Robbins, a former partner at private equity giants KKR[5] and General Atlantic.[6]

As of June 2019, the firm managed more than $2.2 billion in capital, which it mainly invested from two funds, the long-short Blue Harbour Strategic Value Partners fund and the long-only Blue Harbour Active Ownership Partners fund.[7] Blue Harbour’s investment team included CEO Cliff Robbins and Managing Directors Peter Carlin, Robb LeMasters, Todd Marcy and David Silverman.

On February 28, 2020, CEO and Founder Clifton S. Robbins announced that he would be closing Blue Harbour Group, which had $2 billion of assets under management, to set up a family office.[8] He informed investors that Blue Harbour intended to return all investors' capital later in the year and close the funds.[9] [10]

Investment strategy

Blue Harbour took ownership stakes in publicly traded companies whose management teams were looking to increase in value.[11] Blue Harbour focused on North American undervalued smallcap and midcap companies.[12]

Awards

In 2013, Business Insider named Blue Harbour Strategic Value Partners as one of “The 30 Hedge Funds That Crushed Wall Street in 2013.”[13]

Blue Harbour Group won the 2016 "Best U.S. Activist Hedge Fund Manager" by Hedgeweek,[14] and the 2017 Hedge Fund Industry Awards' "Activist Hedge Fund Manager of the Year" by Institutional Investor.

Notes and References

  1. News: The largest managers of hedge funds (P&I Sep 2019). 15 October 2019. Crain Communications Inc. Special Report Hedge Funds. Pensions & Investments. 16 September 2019. United States. English. limited.
  2. Web site: Blue Harbour Discloses Core Holdings. Institutional Investors Alpha. 5 May 2014.
  3. Web site: Signatory Directory Principles for Responsible Investment. www.unpri.org. en-US. 2017-07-11.
  4. Web site: Clifton Robbins. Business Week.
  5. Web site: Blue Harbour Group. Insider Monkey. 5 May 2014.
  6. Web site: The Gentleman Activist. www.institutionalinvestor.com. 2017-07-11.
  7. Web site: Blue Harbour Group is Bullish on Babcock & Wilcox Co (BWC) and Reports a 6.0% Stake. 5 May 2014. Insider Monkey (BWC).
  8. Web site: 28 February 2020. Why Cliff Robbins Decided to Close Blue Harbour Group. live. 12 June 2020. Institutional Investor. https://web.archive.org/web/20200612015423/https://www.institutionalinvestor.com/article/b1kjwj331n6zhh/Why-Cliff-Robbins-Decided-to-Close-Blue-Harbour-Group . 2020-06-12 .
  9. News: Zuckerman. Gregory. WSJ News Exclusive Activist Investor Robbins Closing His Firm. 2020-02-28. Wall Street Journal. 2020-02-28. en-US. 0099-9660.
  10. 28 February 2020. Following Strong 2019, Blue Harbour Group to Return Investor Capital Later This Year. live. https://web.archive.org/web/20200229134108/http://www.globenewswire.com/news-release/2020/02/28/1992610/0/en/Following-Strong-2019-Blue-Harbour-Group-to-Return-Investor-Capital-Later-This-Year.html . 2020-02-29 . 12 June 2020. GlobeNewswire.
  11. Web site: Chico's Luring Activist Seen as LBO Target: Real M&A. Bloomberg. 5 May 2014.
  12. Web site: Activist fund Blue Harbour Group takes stake in Tribune Co.. 5 May 2014. Chicago Tribune.
  13. Web site: Yu. Keith. 2017 Manager Winners - Institutional Investor's Hedge Fund Industry Awards. dead. https://web.archive.org/web/20170629000146/http://www.hedgefundindustryawards.com/managerwinners.php. 2017-06-29. 2017-07-11. www.hedgefundindustryawards.com.
  14. News: 16 September 2016. Hedgeweek USA Awards 2016 - The Winners. English. Hedge Week. Global Fund Media Ltd. United States. limited. 22 January 2020.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Blue Harbour Group".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.