Thu, Mar 28, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
New Managers December 2012

Profiles - Two emerging managers, Tower Capital and Fat Pitch, speak about their new fund

 

Fat Pitch Capital aims to be right over time, not all the time

Fat Pitch Capital, LP is a long-biased global value partnership that is modeled after the original Buffett- Munger partnership. It aims to be right over time and does not want to fall into a trap of trying to be right all the time.

It is a Delaware-domiciled investment partnership located in Charlotte, NC managing $4.5m in AuM, and it is currently featured in Opalesque Solutions' Emerging Managers Database.

In baseball jargon, a "fat pitch" means a pitch that is located exactly where the hitter is expecting it.

The fund focuses on investing for long term capital appreciation and capital preservation, and seeks to run a very concentrated portfolio of equity investments (primarily in North America) with the goal of acquiring companies with outstanding long-term economics at a reasonable price.

Before running Berkshire Hathaway both Warren Buffett and Charles Munger, ran investment partnerships. Munger is currently Vice-Chairman of Berkshire Hathaway, and Buffet describes him as his partner.

In an interview with Opalesque, Robert W. Deaton, CFA and Fat Pitch's portfolio manager said, "Our strategy is doing fine year-to-date but we would like to do better. We however, do not want to fall into the trap on trying to be right all of the time. We want to be right but over time. Moreover, time arbitrage is a competitive advantage in a market where we believe most are trying to out-guess the other guessers."

When asked how the fund's strategy is faring against the volatile market conditions, Deaton said that he and his team believe that discussing monthly performance is an "anathema" because "it is random and meaningless." He added, "again, we focus on longer term time horizons and only seek out like-minded L.......................

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

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1