Monday, 6 July 2015
Last updated 46 min ago
Feb 26 2010 | 1:35pm ET
He’s abandoned his Pirate ship, but Tom Hudson still has a taste for gold.
The Pirate Capital founder Tom Hudson has launched a new hedge fund, Doubloon Capital, and is fundraising for several new funds. The famed activist investor’s new firm will, like Pirate, focus on stressed and distressed companies, according to The Wall Street Journal. Doubloon will shy away from technology, telecommunications and “asbestos-tainted” companies, with investing in industrials, real-estate investment trusts, retailers and casino companies.
“While a rising tide lifts all ships, a falling tide can be treacherous for a ship in shallow water,” Doubloon writes in marketing documents. “Value investing is all about identifying intrinsically 'cheap' companies. The direction of the macro environment, the tide, often will determine the value realization for undervalued companies.”
Doubloon will charge 2% for management and 20% for performance.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…