Our Business
We provide asset management services globally through our hedge funds and other alternative investment vehicles. Our products and services are designed to meet the needs of institutional investors around the world.
Our approach to asset management today is based on the same fundamental elements that we have employed since our firm was founded in 1994. Our extensive experience, combined with the consistency of our approach to investing and risk management, has been integral to extending our performance history.
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Consistent, Positive, Absolute Returns
Our investment process focuses on generating consistent, positive, absolute returns across market cycles with low volatility compared to the equity markets. Our goal is to preserve capital during periods of market decline and produce competitive investment performance in rising markets. We seek to generate fund returns without relying on asset concentration or market direction. -
Multi-Strategy Approach
Our funds and other vehicles invest across multiple strategies and geographies with no predetermined commitments of capital. Portfolio composition is determined by selecting what we believe are the best market opportunities, consistent with our goals of diversification and capital preservation. Our primary investment strategies are convertible and derivative arbitrage, corporate credit, long/short equity special situations, merger arbitrage, private investments and structured credit. Our ability to invest in multiple strategies worldwide enables us to be nimble in adjusting our portfolio allocations as market conditions change. -
Focus on Fundamentals
We approach investments in each of our strategies through rigorous fundamental analysis of the drivers of potential investment risk and return. We look at both qualitative and quantitative factors in assessing the risk/reward parameters and perform extensive due diligence. -
Limited Use of Leverage
Our funds and other vehicles generally do not rely on extensive leverage to generate investment returns. Our approach to risk management limits the amount of leverage we employ on a portfolio-wide basis. -
Disciplined Investment and Risk Management Processes
Our investment and risk management processes are central to the way we allocate capital. We focus on hedging and actively managing the exposures of our portfolios. Our risk management practices are based on both quantitative and qualitative analyses implemented at both the individual position and total portfolio levels, and they have been integrated into our daily investment process.