Blue Harbour Group

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.[2]

Blue Harbour Group
IndustryInvestment Management
Headquarters
Greenwich, Connecticut
,
United States
Area served
Worldwide (investors); North America (investments)
Key people
Clifton S. Robbins (Founder and CEO)
AUMUS$ 2.1 billion
(as of June 30, 2019)[1]
Number of employees
18
Websitewww.bhgrp.com

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,[6] 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][9] He informed investors that Blue Harbour intended to return all investors' capital later in the year and close the funds.[8][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 “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.[13]

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