Blue Harbour Group
{{UPE|date=November 2017}}
{{Infobox company
| name = Blue Harbour Group
| logo = File:Blue_Harbour_Group.png
| logo_caption =
| image =
| image_caption =
| industry = Investment Management
| location_city = Greenwich, Connecticut
| location_country = United States
| area_served = Worldwide (investors); North America (investments)
| key_people = Clifton S. Robbins (Founder and CEO)
| num_employees = 18
| aum = US$ 2.1 billion
(as of June 30, 2019){{cite news|title=The largest managers of hedge funds (P&I Sep 2019)|url=https://www.pionline.com/special-report-hedge-funds/largest-managers-hedge-funds|accessdate=15 October 2019|agency=Crain Communications Inc|issue=Special Report Hedge Funds|publisher=Pensions & Investments|date=16 September 2019|location=United States|language=English|url-access=limited}}
| homepage = [http://www.bhgrp.com www.bhgrp.com]
}}
Blue Harbour Group was an American investment firm that managed capital for pension funds, endowments, sovereign wealth funds, labor unions and other institutional investors.{{cite web|title=Blue Harbour Discloses Core Holdings|url=http://www.institutionalinvestorsalpha.com/Article/3337004/News-And-Analysis/Blue-Harbour-Discloses-Core-Holding-in-Babcock-and-Wilcox.html|publisher=Institutional Investors Alpha|accessdate=5 May 2014}} The company was based in Greenwich, Connecticut.
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.{{Cite web|url=https://www.unpri.org/directory/|title=Signatory Directory {{!}} Principles for Responsible Investment|website=www.unpri.org|language=en-US|access-date=2017-07-11}}
History
Blue Harbour Group was founded in 2004 by Clifton Robbins,{{cite web|title=Clifton Robbins|url=http://investing.businessweek.com/research/stocks/private/person.asp?personId=93477&privcapId=42184017&previousCapId=249841&previousTitle=HESS%20CORP|publisher=Business Week}}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}} also known as Cliff Robbins, a former partner at private equity giants KKR{{cite web|title=Blue Harbour Group|url=http://www.insidermonkey.com/hedge-fund/blue+harbour+group/442/|publisher=Insider Monkey|accessdate=5 May 2014}} and General Atlantic.{{Cite web|url=http://www.institutionalinvestor.com/article/3724636/asset-management-hedge-funds-and-alternatives/the-gentleman-activist.html#.WWUlTvnythE|title=The Gentleman Activist|website=www.institutionalinvestor.com|access-date=2017-07-11}}
As of June 2019, the firm managed more than $2.2 billion in capital, 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.{{cite web|title=Blue Harbour Group is Bullish on Babcock & Wilcox Co (BWC) and Reports a 6.0% Stake|url=http://www.insidermonkey.com/blog/blue-harbour-group-is-bullish-on-babcock-wilcox-co-bwc-and-reports-a-6-0-stake-321023/|accessdate=5 May 2014|publisher=Insider Monkey (BWC)}} Blue Harbour’s investment team included CEO Cliff Robbins and Managing Directors Peter Carlin, Robb LeMasters, Todd Marcy and David Silverman.{{Citation needed|date=July 2020}}
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.{{Cite web|date=28 February 2020|title=Why Cliff Robbins Decided to Close Blue Harbour Group|url=https://www.institutionalinvestor.com/article/b1kjwj331n6zhh/Why-Cliff-Robbins-Decided-to-Close-Blue-Harbour-Group|url-status=live|access-date=12 June 2020|website=Institutional Investor|archive-url=https://web.archive.org/web/20200612015423/https://www.institutionalinvestor.com/article/b1kjwj331n6zhh/Why-Cliff-Robbins-Decided-to-Close-Blue-Harbour-Group |archive-date=2020-06-12 }} He informed investors that Blue Harbour intended to return all investors' capital later in the year and close the funds.{{Cite news|last=Zuckerman|first=Gregory|url=https://www.wsj.com/articles/activist-investor-robbins-closing-his-firm-11582866060|title=WSJ News Exclusive {{!}} Activist Investor Robbins Closing His Firm|date=2020-02-28|work=Wall Street Journal|access-date=2020-02-28|language=en-US|issn=0099-9660}}{{Cite press release|last=|first=|date=28 February 2020|title=Following Strong 2019, Blue Harbour Group to Return Investor Capital Later This Year|url=https://www.globenewswire.com/news-release/2020/02/28/1992610/0/en/Following-Strong-2019-Blue-Harbour-Group-to-Return-Investor-Capital-Later-This-Year.html|url-status=live|archive-url=https://web.archive.org/web/20200229134108/http://www.globenewswire.com/news-release/2020/02/28/1992610/0/en/Following-Strong-2019-Blue-Harbour-Group-to-Return-Investor-Capital-Later-This-Year.html |archive-date=2020-02-29 |access-date=12 June 2020|website=GlobeNewswire}}
Investment strategy
Blue Harbour took ownership stakes in publicly traded companies whose management teams were looking to increase in value.{{cite web|title=Chico's Luring Activist Seen as LBO Target: Real M&A|url=https://www.bloomberg.com/news/2013-10-01/chico-s-luring-activist-seen-as-lbo-target-real-m-a.html|publisher=Bloomberg|accessdate=5 May 2014}} Blue Harbour focused on North American undervalued smallcap and midcap companies.{{cite web|title=Activist fund Blue Harbour Group takes stake in Tribune Co.|url=https://www.chicagotribune.com/2014/02/24/activist-fund-blue-harbour-group-takes-stake-in-tribune-co/|access-date=5 May 2014|publisher=Chicago Tribune}}
Awards
In 2013, Business Insider named Blue Harbour Strategic Value Partners as one of “The 30 Hedge Funds That Crushed Wall Street in 2013.”{{Cite web|last=Yu|first=Keith|title=2017 Manager Winners - Institutional Investor's Hedge Fund Industry Awards|url=http://www.hedgefundindustryawards.com/managerwinners.php|url-status=dead|archive-url=https://web.archive.org/web/20170629000146/http://www.hedgefundindustryawards.com/managerwinners.php|archive-date=2017-06-29|access-date=2017-07-11|website=www.hedgefundindustryawards.com}}
Blue Harbour Group won the 2016 "Best U.S. Activist Hedge Fund Manager" by Hedgeweek,{{cite news|date=16 September 2016|title=Hedgeweek USA Awards 2016 - The Winners|language=English|publisher=Hedge Week|agency=Global Fund Media Ltd|location=United States|url=https://www.hedgeweek.com/2016/09/16/243691/hedgeweek-usa-awards-2016-winners|url-access=limited|accessdate=22 January 2020}} and the 2017 Hedge Fund Industry Awards' "Activist Hedge Fund Manager of the Year" by Institutional Investor.