Peter S. Park, Chief Investment Officer of Park West Asset Management, presented his long thesis at the 2025 Sohn San Francisco Conference, focusing on a unique mispricing opportunity within the gaming supply sector. Park West, a firm managing approximately $2 billion and both long and short equity books with moderate gross net exposure, believes that a structural event is creating a severe but temporary dislocation, pushing a fundamentally strong growth company to trade at steep value prices. Forced selling by United States institutional holders followed immediately by mandated demand from Australian passive and superannuation funds, promises a significant, mechanically driven multiple expansion, he believes.
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Park West Asset Management and Investment Philosophy
Park West Asset Management focuses on compounding capital for the long term, having outperformed the S&P and Russell indices over the last 22 years with less than 50% market exposure. Peter S. Park is CIO and founded Park West after an eight year tenure at Citadel Investment Group, where he worked from 1994 to 2002, contributing to the build out of Citadel's event driven investing effort.
While the hedge fund is known for its short alpha generation, the current pitch is a long position. The long process involves working extensively with management teams, competitors, customers, and suppliers, complemented by bottom up financial analysis, to identify high internal rate of return (IRR) situations with favorable setups.
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