Governance for Owners and Engaged Capital formed a venture to introduce a global shareholder activist investment strategy and joint global marketing effort, according to a GO statement.
Jassel J. Lizardi, associate, investor relations and operations at Engaged Capital, who confirmed the venture, said she couldn't disclose the amount the firms expect to be committed to the new strategy, the form of the strategy or when it will launch.
The venture capitalizes on GO's focus in Europe, Asia and Australia and EC's focus in North America.
Both GO and EC funds invest in publicly traded companies, generally with market capitalizations ranging from $500 million to $8 billion, seeking to improve shareholder value through active engagement with corporate boards and management.
EC, formed last year and employee-owned, has $125 million in assets under management, Ms. Lizardi said. It has a long-only equity fund and long/short equity fund.
GO, set up in 2004, has $1.2 billion under management. The $264.9 billion California Public Employees' Retirement System, Sacramento, and Railpen, which oversees assets for the £18 billion ($27.4 billion) Railways Pension Trustee Co. Ltd., London, are among GO's owners.