Corsair Capital was up 10.2% net for the first quarter, while Corsair Select gained 15.2% net. The S&P 500 was up 6.2% for the first quarter, while the Russell 2000 gained 12.7%. The HFRI EHI returned 7.1% for the quarter.
Q1 2021 hedge fund letters, conferences and more
Don’t fight the Fed
In their first-quarter letter to investors, which was reviewed by ValueWalk, the Corsair team said the first part of the year was marked by the old adage “Don’t fight the Fed.” The stock market continued its rally from the lows in March 2020 due to the pandemic. Equities rallied as Treasury Secretary Janet Yellen supported President Joe Biden’s $1.9 trillion stimulus bill, and Federal Reserve Chair Jerome Powell reiterated his plan to keep short-term interest rates close to zero through 2023.
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
