While some hedge fund firms publicly level scathing criticisms at companies they feel are mismanaged, Boston-based Highfields Capital Management prefers to work behind the scenes, often with corporate management teams, to effect change. The firm, founded by chief executive and chief investment officer Jonathon Jacobson, is a value-focused, opportunistic investment firm that maintains a long bias and typically holds on to its positions for several years. But the firm is not afraid to apply pressure when it sees fit...