Blue Harbour has primarily invested in activist situations since its founding in 2004, and recently launched a long-only fund in order to expand its investor base in that strategy. Its flagship fund- which often takes short positions, running afoul of some institutional investors’ requirements- has over $1.7 billion under management (end of 2013) and outperformed the S&P 500 in 2012. Blue Harbour Strategic Value Partners returned 19.8% in 2013. The fund was founded by a former partner at private equity giant KKR, Clifton Robbins. Clifton Robbins doesn't invest in a company unless its management is receptive to his ideas.