BOSTON May 15 Activist hedge fund investor
Jeffrey Ubben is handing over the reins of his $16 billion hedge
fund ValueAct Capital Mangement LP by promoting his long-time
business partner Mason Morfit to the position of chief
In a letter sent to investors on Monday, Ubben said that
Morfit, 41, would take on the post in July, giving him the last
word on the kind of investments the San Francisco-based firm
will make. He has been a partner for more than a decade and is
currently ValueAct's president.
Ubben, 54, will remain the fund's chief executive.
(Reporting by Svea Herbst-Bayliss; Editing by Andrew Hay)