ValueAct Capital, the $US16 billion activist fund led by Jeff Ubben, has taken a 5% stake in private equity giant KKR.
“The AuM at this company is on a huge ramp,” Mason Morfit, who made the presentation on behalf of ValueAct,
said at 13D Monitor’s Active-Passive Investor Summit in New York.
He said the move of active equity money to passive funds would be bullish for KKR. The trend is “very much favour of the big and I think the big will get bigger.”
More to follow
NOW WATCH: Hedge fund legend Ray Dalio to individual investors: Market timing is ‘like playing poker’ against world’s best
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.