Hedge Fund - BlueSpruce Investments

Established in 2013, BlueSpruce Investments is a hedge fund management company located in Chicago, Illinois. The firm manages around $4.5 billion in investments. BlueSpruce Investments, LP focuses on business services, consumer, financial technology/asset management, healthcare, and TMT sectors. Their long-biased equity strategy aims for high-risk adjusted absolute returns by targeting undervalued equities using a blend of business expertise, fundamental research, and thorough due diligence.

Before establishing BlueSpruce, Mr. Timothy Hurd spent 17 years at Madison Dearborn Partners, LLC (“MDP”), starting in 1996 as a Vice President and later becoming a Managing Director in 2000. During his tenure at MDP, Tim played a pivotal role in leading investments in companies such as PayPal, Inc., TransUnion Corp., CapitalSource, Inc., and Nuveen Investments, where he served as a Director for each entity. Mr. Hurd earned his bachelor’s degree in economics with the highest distinction from the University of Michigan in 1992, where he was elected to Phi Beta Kappa. Following this, he graduated from Harvard Business School in 1996. Beginning his career in the Mergers Department of Goldman, Sachs & Co. in New York after completing his undergraduate studies.

Mr. Edward M. Magnus serves as a Partner at BlueSpruce Investments LP and holds a position on the Board of Directors at Nuveen Investments, Inc. His tenure at Madison Dearborn Partners, LLC (“MDP”) spans over a decade, commencing in 2000 as an Associate for two years. After completing his business school education, he rejoined MDP in 2004 as a Vice President, later advancing to the role of Director in 2008. Mr. Magnus graduated with honors, earning a bachelor’s degree in business administration from the University of Michigan in 1998. He furthered his education by obtaining a Master of Business Administration from Harvard Business School.

Bluespruce Investments manages assets for three clients with discretionary assets under management totaling $5,367,919,000 as per Form ADV from February 2023. Their most recent 13F filing for Q4 2023 reported $5,236,147,419 in managed 13F securities, with a top 10 holdings concentration of 95.8%. The largest holding in Bluespruce Investments' portfolio is Fiserv, Inc., with shares held amounting to 4,865,762.