At the 2025 Sohn Montreal Conference, Alex Duran, co-founder and portfolio manager at Permian Investment Partners, highlighted an underappreciated turnaround story in the European healthcare sector, centered on leadership change, improving margins, and corporate governance reform.

• Background: Alex Duran co-founded Permian in August 2008. He currently manages $2B in AUM. His investment style involves taking long positions in businesses with high-quality CEOs undergoing turnarounds, primarily in Western Europe, and shorting structurally broken businesses, frauds, or asset bubbles. He emphasizes CEO quality and management change as catalysts.
• Firm Focus: Permian Investment Partners employs a long/short equity strategy focused on identifying turnaround opportunities and problematic businesses.
• Time at Firm: He has been with Permian Investment Partners since co-founding it in August 2008.

2025 Sohn Montreal Conference - Permian Investment Partners' Alex Duran

• Alex Duran co-founded Permian in August 2008 (right before the financial crisis).
• Currently manages $2B in AUM.
• Investment style:
  • Long: High-quality CEOs turning around mismanaged businesses (mostly in Western Europe).
  • Short: Structurally broken businesses, frauds, asset bubbles.
• Emphasis on CEO quality and management change as catalysts for turnaround.