Starboard Value LP offers discretionary investment management to private investment funds, offshore investment funds, and separately managed accounts. The firm's investment strategy focuses on undervalued U.S. public companies, aiming to improve their value through operational improvements, ownership changes, or corporate governance enhancements. Starboard Value LP may work constructively with company management or take more forceful actions, including seeking board representation.
Fee Structure
Starboard Value LP manages investments for private funds and separately managed accounts. The fees for these services are specific to each fund or account and are detailed in their respective offering documents or investment management agreements.
For the Value and Opportunity Funds, the investment management fee is up to 2.0% annually of the capital account balances, calculated monthly and paid quarterly. There is also an incentive allocation of up to 20% of net capital appreciation each fiscal year.
For the X Funds, there are two classes of shares with different fees. Class R has a management fee of up to 1.75% annually, and Class A has a management fee of up to 2.0% annually, both calculated monthly and paid quarterly. Class R has an incentive allocation of up to 25% of the outperformance of a benchmark, while Class A has an incentive allocation of up to 20% of net capital appreciation each fiscal year.
For Managed Accounts, the management fee is up to 1.35% annually of the net asset value, calculated monthly and paid monthly or quarterly. Some accounts also have a performance-based fee of up to 30% of net appreciation each calendar year. Certain managed accounts may also be charged carried interest of up to 12.5% of the proceeds of investments realized by the Managed Account.