July 22, 2017 3:17 PM ET

Capital Markets

Company Overview of Starboard Value LP

Company Overview

Starboard Value LP is a privately owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It also caters to state and municipal government entities. The firm invests in the public equity markets of the United States. It invests in value stocks of small-cap companies. The firm employs fundamental analysis to make its investments. Starboard Value LP was founded in March 2011 and is based in New York City.

777 Third Avenue

18th Floor

New York, NY 10017

United States

Founded in 2011

Phone:

212-845-7977

Key Executives for Starboard Value LP

CEO, Managing Member, and Chief Investment Officer
Age: 45
Managing Member, Head of Risk Management and Trading, and Portfolio Manager
Age: 55
Chief Financial Officer and Chief Compliance Officer
Director of Operations
Managing Member, Head of Research, and Portfolio Manager
Age: 38
Compensation as of Fiscal Year 2017.

Starboard Value LP Key Developments

Starboard Value Reportedly Sold Stake In Macy's

Starboard Value LP has sold its stake in Macy's, Inc. (NYSE:M) people familiar with the matter said on March 15, 2017. The sources asked not to be identified because the matter is not public. Starboard, which owned almost 1% of Macy's as of the end of December, 2016, declined to comment. Macy's did not immediately respond to a request for comment.

Starboard Reportedly Pushes Rockwell Collins To Explore Strategic Alternatives

Rockwell Collins, Inc. is reportedly urged to explore strategic alternatives. Rockwell Collins is under pressure from Starboard Value LP to reconsider its $6.4 billion purchase of B/E Aerospace, Inc. (NasdaqGS:BEAV) and instead explore alternative options, including selling itself, according to people familiar with the matter. In addition to Jeff Smith’s activist fund, at least three other top-25 shareholders are planning to reject the B/E Aerospace deal in favor of a sale, the people said, asking not to be identified because the details are private. Rockwell Collins is aware of the discontent among some of its shareholders, the people said. It’s unclear if the aerospace supplier is open to the idea of a sale. Pam Tvrdy, a spokeswoman for Rockwell Collins, declined to comment on the Starboard overture. A representative for B/E Aerospace didn’t respond to a request seeking comment. A representative for Starboard confirmed the fund has a stake in Rockwell but declined to comment further.

Stewart Information Services Corporation Announces Board Changes

Stewart Information Services Corporation announced that it has entered into an agreement with Starboard Value LP regarding the composition of the Stewart board of directors. Stewart chief executive officer Matthew Morris and a new independent director, Clifford Press, will be appointed to the board, effective immediately.  Mssrs. Morris and Press will replace Malcolm S. Morris and Stewart Morris, Jr., who have agreed to resign after each serving on the board for 16 years.  In addition, the board has committed to appoint two other new independent directors.  The two new independent directors will replace Laurie Moore-Moore and Frank Keating, two current members of the board, who have agreed to step down once the new independent directors have been identified and appointed to the board. With the addition of Mssrs. Morris and Press, and the two new independent board members to be named, the Stewart board will be comprised of nine directors, eight of whom will be independent. Matt Morris, 45, serves as the chief executive officer of Stewart Information Services Corporation. Previously, he was senior executive vice president for Stewart Information Services Corporation, Stewart Title Company and Stewart Title Guaranty Company. Clifford Press, 63, is an experienced governance oriented investor, and has served on the boards of numerous public companies in the course of his career. He currently serves as a director of Newcastle Investment Corp. and Quantum Corporation. Mr. Press has recently served as a director of GM Network Ltd. and SeaBright Holdings Inc.

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