ValueAct Capital Management has purchased a 5% interest in Unifi, a manufacturer of yarn from recycled plastic bottles. Jeff Ubben’s hedge fund, based in the Virgin Islands, invested $30.6 million in the purchase of 925,000 shares, giving it the fifth-largest stake in Unifi. To date, ValueAct’s Spring Master Fund has raised $250 million for investing in socially- and environmentally-conscious businesses. Other investments include power company AES, Strayer Education, and wood pellet manufacturer Enviva. Eva Zlotnicka, formerly of Morgan Stanley, was hired by ValueAct to search out strategic investments in reusable utilities, agriculture, education, and the defense of human rights. Ubben is viewed as an activist investor, and representatives from ValueAct have already discussed the possibility of getting a seat on Unifi’s board of directors. Other matters of discussion have concerned the company’s business model, financial position, dividend policy, executive compensation, and merger-and-acquisition strategies.