Gates Capital's ECF Value II fund was up 9.4% for the first quarter, compared to the HFRI Event-Driven Index's 8.2% gain, the Russell 2000's Value Total Return Index's 21.2% gain, and the S&P 500's 6.2% return.
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Gates Capital Management is an event-driven value investing fund that focuses on identifying the best risk/ reward relationships within a company's structure for long positions and the worst risk/ reward relationships for short positions.
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In their first-quarter letter to investors, which was reviewed by ValueWalk, the Gates Capital team said event-driven equity positions boosted their performance, including a global leader in energy technology solutions created recently...
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