Monday, 29 August 2016
Last updated 2 days ago
Jul 30 2008 | 7:01am ET
A former Carlyle-Blue Wave Partners portfolio manager has reunited with a pair of colleagues from her days at Brahman Capital to form Permian Investment Partners, a New York-based long/short hedge fund shop.
The firm is gearing up to launch its maiden hedge fund, a long/short equity strategy focused primarily on Western Europe. It has secured a sizeable seed investment from family office Privet Capital, according to Opalesque.
Cara Goldenberg, who led Carlyle Blue-Wave’s European special situations team in 2007, founded Permian in February, hiring, former Brahman colleagues Alex Duran and Scott Hendrickson.
The fund, which will reportedly debut next month, will target special situations and deep-value opportunities with an emphasis on “proven and incentivized management teams; tangible investment materialization timeline; and securities with potential to double in value over a three-year time period,” according to Goldenberg’s online biography and resume.
She said the fund will take “high-conviction, concentrated long positions with rigorous focus on early-stage, highly-original contrarian idea origination” and “will engage in a hedging strategy aimed at isolating alpha and removing exogenous risk in long positions.”