“Event driven investing”
We invest in special situations.
While a wide variety of strategies can be considered “special situations”, in general these are investment opportunities that are driven by a corporate action. They include, but are not limited to spinoffs, tender offers, mergers, acquisitions, liquidations, bankruptcy, litigation, shareholder activism, stock buybacks, and any other event that might affect a company's short-term prospects.
Each special situations investment opportunity tends to be idiosyncratic in nature, and therefore, in contrast to our other strategies it is non-systematic in nature.
The primary objective of our special situations portfolio is to generate returns uncorrelated to the broader global equity market.