Pirate Capital LLC is an employee owned hedge fund sponsor. The firm provides its services to pooled investment vehicles. It invests in the public equity markets of the United States. The firm typically invests in the value stocks of companies. It employs a fundamental approach for stock selection. The firm employs an event driven, activist, long/short equity, and opportunistic investment strategy. It typically invest in companies allegedly underperforming, under valued, distressed, and agitating for management action, such as asset sales and share buybacks. Pirate Capital was founded in July 2002 and is based in Norwalk, Connecticut