Channel 9ValueAct’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 $US16 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:
- UBS has hired one of Wall Street’s most senior women to oversee $US600 billion
- A UK hedge fund made a $US500+ million bet on Wells Fargo (WFC)
- Seth Klarman’s Baupost made a near $US500 million bet (QCOM, QRVO)
- Yes, that’s J. Peterman from ‘Seinfeld’ pitching an IPO on TV — no, that’s not the most surprising thing about it
- A new high-profile hedge fund has just made a big hire
NOW WATCH: SCOTT GALLOWAY: I believe every time Amazon reports a profit a manager gets yelled at
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.
Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.