Friday, 26 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.