The Special Situations sector employs an active investment approach that primarily focuses on identifying investment opportunities that arise from corporate event-driven situations (e.g. board-level action like a bankruptcy, liquidation, spin-off, stock buyback, restructuring, merger, takeover, etc.) and seeks to profit from them via a multitude of strategies including net-net and merger arbitrage. Two of the world’s best-known value investors—Warren Buffett, and Joel Greenblatt—recorded their highest returns in special situations.
Portfolio Manager: Will Fernholz