Strategies

Lexcor

Lexcor runs a European value and catalyst based long/short equity strategy.

The strategy focuses primarily on European-listed equities, with 0-30% in securities with equity-like return potential, such as credit. The core fundamental long/ short books are focused on exploiting value discrepancies through a quality lens, where a series of misunderstood and complex to analyse catalysts have the potential to drive value realisation over the medium to longer term. The non-core arbitrage/ opportunistic book leverages the team’s event driven experience to capture inefficiencies with hard catalysts and exceptional risk reward dynamics, such as merger arbitrage and holding company discounts. The portfolio is highly concentrated – typically 20 to 40 positions containing only the positions judged by the portfolio managers to be the most outstanding opportunities. It targets gross exposure between 100-150% and net exposure between 30-70%.

Lexcor is managed by Kaveh Sheibani, formerly co-CIO of Pendragon Capital, and Nicolas Gourdain, formerly head of Europe for TPG-Axon, who have over 35 years combined experience in fundamental L/S and event-driven investing across the capital structure.

For more information, please visit Lexcor’s website: www.lexcorcapital.com

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