Tue, Nov 24, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers March 2014

FUND PROFILES: Active Owners Fund, Pangaea Africa Fund of Funds

Active Owners Fund (28% in '13, +7% YTD) prefers small cap market

Benedicte Gravrand, Opalesque Geneva Ben Terk

The Active Owners Fund (AOF) is a deep value, event driven, long/short fund investing in North American small cap opportunities. The fund was launched in January 2011 and returned -4.9% that year, 24% in 2012, 28.5% in 2013, and it is up 6.9% YTD (to end February). One of the portfolio managers talks to Opalesque about the fund strategy and opportunities in the small cap market.

The founders and portfolio managers of the AOF, at AOF Management LLC, which has offices in Los Angeles and New York, are Joe Pretlow, who has invested in small caps for 20 years and who previously ran JPC, a private equity investment firm, and Ben Terk, who was a partner at Rho Capital for 10 years, where he led numerous minority investments and played an active role on several boards. They set up the firm in November 2009.

"First and foremost, we are small cap deep value investors seeking event driven opportunities," Ben Terk tells Opalesque during a recent interview. "However, once we develop sufficient conviction around our portfolio companies, we will regularly seek to raise the institutional profile of our companies with other like-minded public or private investors. As result, we have had a number of our portfolio companies taken private."

The two portfolio managers have a private equity background and many of their LPs are GPs of prominent private equity funds, he adds.

The fund invests in buy-out quality companies that are frontrunners in niche markets with good market power, that are trading at deep discount to intrinsic value, and that are either in transition and/or open to a transaction, Terk explains...

"On the front end of our process, that means i......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - BlackRock targets ETF investors with flexible currency hedging, Nelson Peltz bets on General Electric Company and Mondelez International, Apple plummets to 4th place among hedge holdings, from No. 1, Top Q3 equity purchases and sales of top 50 hedge funds[more]

    BlackRock targets ETF investors with flexible currency hedging From Theglobeandmail.com: BlackRock Inc., the world’s largest asset manager, is changing course on exchange-traded funds that protect against currency volatility. After stressing the easy switch between hedged and unhedged ET

  2. Chicago-based Achievement A. M. is shutting down hedge fund following losses[more]

    Komfie Manalo, Opalesque Asia for New Managers: Achievement Asset Management, a Chicago-based hedge fund firm, has announced it is closing down its hedge fund operation following losses on energy market bets this ye

  3. Lyxor Hedge Fund Index up 0.1% (+0.4% YTD) as global macro and CTAs outperform[more]

    Komfie Manalo, Opalesque Asia for New Managers: Global macro and CTAs outperformed the hedge fund space and delivered positive returns last week amidst difficult market conditions, with the Lyxor Hedge Fund Index up

  4. BlackRock is shutting down its Global Ascent macro fund[more]

    Komfie Manalo, Opalesque Asia: BlackRock, the world’s largest asset manager, has announced plans to shut down a macro fund, Global Ascent Fund, because of "headwinds facing the industry". The hedge fund, which makes bets on stock, bond and currency markets, will return money to investors. Ac

  5. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the