We aim to achieve attractive absolute returns by using an event driven, bottom up, fundamental approach to evaluate various types of securities throughout companies’ capital structures.
We identify companies that may be affected by events such as a restructuring, business unit spin-off, changes in capital structure, uses of excess cash flows, management changes, realization of hidden assets, industry transitions, merger transactions, distress from an overleveraged capital structure or unfavorable litigation outcome, fraud, accounting uncertainty or other events that may lead to a material mispricing of a company’s securities.
We seek to invest in companies in accordance with our investment objective, regardless of the industries in which those companies are engaged. On this basis, our portfolio is not purposely diversified. We monitor markets constantly in an effort to identify and develop the most promising investment themes based on asset class, geography or targeted groups of sellers.
Our investment objectives are premised on the assumption that instabilities in miscellaneous financial markets arise as a result of economic, political and capital flow elements. As prospects amend, we have proven to master a flexibility to allocate capital in a forceful manner throughout a diversified pool of global strategies, markets and securities.
We may buy or sell securities in a variety of special situations which afford opportunities for gains based on fundamental analysis coupled with the occurrence of an extraordinary corporate event (other than an event that would be characterized as a risk arbitrage event), including balance sheet arbitrage. The occurrence of certain special situations gives rise to certain investment opportunities, while some investment opportunities arise in anticipation of the occurrence of an extraordinary corporate event.