Preserving capital and limiting downside risk is paramount.

We seek to maintain a well-diversified portfolio where liquidity risk and exposure to market factors are minimized.

Random noise in the financial markets is not going away.

We focus on exploiting pricing inefficiencies.

Connecting fundamental, structural, quantitative and legal research is central to our investment process.

Our emphasis on gaining a deep understanding of a company's inherent strengths and weaknesses and issue-specific legal documentation sets us apart from our peers.