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(Reuters) - Jeffrey Ubben, a hedge fund veteran in talks to join Exxon Mobil Corp’s board, is seeking to raise as much as $8 billion for his new socially and environmentally conscious fund, according to people familiar with the matter.
Jeffrey Ubben, Founder & CEO at ValueAct Capital, poses for a portrait before speaking on the Reuters Newsmaker event The Future of Shareholder Activism panel in Manhattan, New York, U.S., February 22, 2017. REUTERS/Andrew Kelly
This would be the first fund Ubben has amassed since he launched his new firm, Inclusive Capital Partners, last summer. He left ValueAct Capital, the activist hedge fund he co-founded in 2000, while retaining stewardship of the ValueAct Spring Fund, a $1.2 billion capital pool focused on environmental, social and corporate governance (ESG) investing.