ValueAct Capital (“VAC”) concentrates on acquiring significant ownership stakes in a limited number of companies that it believes are undervalued. Such companies may be temporarily mispriced for a variety of reasons, including perceived unfavorable industry conditions, poor business performance, changes in management or ownership, reorganizations, or other external factors. These conditions can often result in fundamentally “good” businesses that are available at depressed valuations.
VAC is generally one of the largest independent shareholders at each of its core investments and works in a constructive manner with management and/or the company’s board to successfully implement strategies that maximize returns for all shareholders.
ValueAct was formed in June 2000 to manage the capital of its founders, along with the capital of a limited number of outside investors, in an investment strategy that combines intensive due diligence, a concentrated number of investments, and active, constructive involvement in the value creation at those investments. Headquartered in San Francisco, VAC manages assets on behalf of some of the world’s most respected institutional and individual investors.