NEW YORK, Feb 13 (Reuters) – Inclusive Capital Partners, one of a handful of activist investors pushing for changes at Salesforce, bought 1.6 million shares in the cloud-based software company in the fourth quarter, a regulatory filing shows.
Jeff Ubben founded Inclusive Capital after leaving ValueAct Capital and this is the fund’s first investment in Salesforce. ValueAct is also invested in Salesforce. Ubben’s handpicked successor at ValueAct, Mason Morfit, will soon join the Salesforce board.
Inclusive and ValueAct are both based in San Francisco as is Salesforce. The investors have known Salesforce CEO Marc Benioff for years and have spoken with him about changes.
The two firms are known for a more collaborative style in pushing for change at the companies they invest with.
Starboard Value and Elliott Management also approached Salesforce with ideas on improving the business. Third Point is also invested in the stock.
Inclusive’s biggest bet is on Enviva Inc where it owns 5.7 million shares and has been an investor for years. (Reporting by Svea Herbst-Bayliss; Editing by Stephen Coates)
