New Activist Fund Founded by Unusual Pair

February 17, 2019 James Heinsman Hedge Fund News


Perhaps as hard to find as a unicorn are upper ranking hedge funds led by either a woman or a person of color. In the case of Impactive Capital LP, we find both.


Christian Amar is a Hispanic man, and his co-founder, Lauren Taylor Wolfe is a woman. Both developed their fund managing skills for over ten years at activist hedge fund Blue Harbour Group LP.


Exactly how unusual is it to have a woman or minority ownership of a hedge fund firm? According to a new report from Bella Research Group and the John S. and James L. Knight Foundation less than 5% of hedge funds are owned by women, and less than 9% are owned by minorities. In another look into the matter, the Wall Street Journal found that even when there are women in high-ranking positions in big hedge funds, they almost never make investment decisions.


The co-chiefs are launching Impactive with a $250 million investment from CALSTRS, (California State Teachers’ Retirement System.) They plan to take advantage of two new trends: the first is investors’ desire to support companies that are friendly to ESG values; that is environmental, social and governance. The second is going for the long-term investments and shying away from what is called “short-termism.”


The money from CALSTRS is committed for a six-year term, a highly unusually long period of time in the hedge-fund industry, and closer to the lengthy terms private equity demands.


“We have the flexibility, because we have long-term capital, to take a longer-term view,” Ms. Taylor Wolfe, 40 years old, said in an interview.

Bella Research Group and the John S. and James L. Knight Foundation, Blue Harbour Group, CALSTRS, Christian Amar, Impactive Capital LP,

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