Corsair Capital Management: Long Caesars Entertainment

Corsair Capital Management gained an estimated 3% for the fourth quarter ended December 31, bringing full-year performance to 12.6% net according to a copy of the firm’s full year and fourth quarter letter to investors which has been reviewed by ValueWalk. [klarman] Unfortunately, this performance lagged the firm’s peers and the broader market. For the period the S&P 500 Returned 21.8%, and the HFRI Equity Hedge (Total) Index gained 13.2%. Still, over the long term Corsair’s performance remains robust with an annualized return since inception (1991) of 12.7% compared to 10.3% for the S&P 500 and 11.4% for the broader…