Investment Strategy

We are an event-driven, deep value long/short investment manager that focuses on special situations and distressed securities across the capital structure. We run a concentrated portfolio of mainly smaller capitalization companies and complex and off the run securities with identifiable catalysts. We have no sector, geographic, size or asset class limitations and we try to be tax-efficient with longer-term holding periods. We believe that by being opportunistic, there will always be areas of market inefficiency to exploit.

Our investment objective is to generate superior absolute returns while avoiding underestimated risks. We seek to meet this objective by diligently searching for the limited number of drastically misvalued securities in the marketplace, continuously researching those ideas and maintaining disciplined decision making throughout this process to allocate the fund’s valuable capital. We think that over time, this strategy will be relatively uncorrelated to the wider market and better performing.