Corsair Capital Management Explains Importance Of Good Management

Activist investors may be getting the most press, but Corsair Capital shows that screening for a combination of good value and great management is a winning strategy

Jay Petschek and Steve Major, co-portfolio managers at Corsair Capital Management, have decades of experience as value investors and the results to prove that their hard work has paid off (the main fund has 14% annualized returns since inception in 1991), and for the most part they are following the same principles they laid out nearly a quarter century ago. But one thing that has changed is their focus on finding great management teams to work with in addition to strong value propositions.

“While not in our original guiding principles, a management team we...