ValueAct's Mason Morfit.
ValueAct's Jeff Ubben is handing power over to the next generation - protégé Mason Morfit, according to The Wall Street Journal.Morfit, 41, is currently the fund's president and will become the $16 billion activist hedge fund firm's chief investment officer, according to the Journal.
Earlier this month, Morfit presented on behalf of the firm at the 13D Monitor's Active-Passive Investor Summit, announcing the activist fund's position in KKR.
A spokesperson for ValueAct didn't immediately comment.
You can read the full story at The Wall Street Journal.
More from Rachael Levy:
- Billionaire Steve Cohen hired 2 investors from the CIA's secretive VC fund for a new Palo Alto office
- A $16 billion activist investor is reportedly handing over the reins to the next generation (KKR)
- UBS has hired one of Wall Street's most senior women to oversee $600 billion
- A UK hedge fund made a $500+ million bet on Wells Fargo (WFC)
- Seth Klarman's Baupost made a near $500 million bet (QCOM, QRVO)