Corsair Capital Q3 Sees Value In Spinoff Situation In Market “Addicted to marijuana”

Corsair Capital Management has one of the best performance records around. Since inception in 1991, the Corsair Capital flagship fund has produced a total annualized return of 12.3% net for investors, that’s compared to an annual performance of 11.2% for the HFRI Equity Hedge Fund Index, which has chalked up an annualized return of 11.2% over the same period. The S&P 500 and Russell 2000 have returned 10.4% and 11.2% annualized respectively.

Q3 hedge fund letters, conference, scoops etc

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The Corsair Select fund has put up a similarly strong performance since its inception in 2004. During this period the fund has returned 10.8% per annum compared to the HFRI Equity Hedge Fund Index’s gain of 5% per annum.

So far this year, the performance of the two funds has been mixed. After a positive third-quarter for both Corsair Select and Corsair Capital, the latter is down 0.9% for the nine months to the end of September, while the former is down by 2.2% for the same period.

Value lagging

In Corsair’s third-quarter letter to investors, a copy of which has been reviewed by ValueWalk, the firm blames the performance of value for its lackluster returns in 2018.