Anyone familiar with these guys? Met someone who works there at an event recently and thought it was interesting that I hadn’t ever really heard of a fund of that size ($30bn was what was cited). Sounds like they run L/S and L/O sleeves under a SM model, akin to some other funds. Would be curious if anyone had any info on performance, perceived quality, AUM growth, strategy, people quality, turnover, etc.
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Historically good fund with strong pedigrees and returns, lower turnover, and very rigorous process.
Great long-only seat, but Select struggles with the same issues as everyone in that camp (lack of inflows, underperformance v. S&P, etc.)
Had a bad 2022, AUM in decline since
Caveat: I only know one guy there and haven't spoken to him in years. This is a mostly external perspective
Do they still have the weird thing that they don’t talk to anyone on the sell side and buyside ? So they don’t get biased ?
What’s the point of refusing to talk to bs/ss?
Isn’t the whole point to know what the market thinks and see if you have diff view? If you dk the bull and bear points how do you know where you stand
I guess idea is they would like to determine a true instrinic value separate from any views of the market. But hard to tell what mispricing your investing in. Not sure how you even explain that to allocators.
“What do you think the market is missing about your top position?”
“Idk i refuse to listen to what the market is saying”
Their filings dont look all that inventive FWIW
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