Adam Wyden’s ADW Capital 2016 letter to investors
2016 Hedge Fund Letters
Partners and Friends of ADW Capital:
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
As you will see from the numbers below, we had a very strong close to 2016. More importantly, the performance was in line with our NET ANNUALIZED return since inception of +26.61% or to put it another way, each dollar invested at the launch of the fund is now worth close to $4.12.
In running a concentrated portfolio, quarter-to-quarter volatility can and should be expected. That being said, we continue to find extremely attractive investments. In fact in the last quarter, we added a new core holding that I am very excited about and I will profile in our upcoming letter. If I am close to right about its prospects, it can return multiples of our capital over the coming decade. If you are interested in adding to your account or opening a new account the next deadline is Feb 1st.
Thank you again for your continued support and Happy New Year.
Below please find the un-audited Q4 and 2016 performance update for ADW Capital Partners, LP*:
|Since Inception (Jan 2011)|
|*Assumes a 2%/20% fee structure. Individual investor returns may vary based on the timing of subscriptions.|