Trafelet & Co. | Remy Trafelet | Hedge Fund Notes

Trafelet & Co.

Trafelet & Co. | Hedge Fund Notes


Trafelet & Co. | Remy Trafelet | Hedge Fund NotesThe following piece on Trafelet & Co. is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.

Resource #1: Trafelet & Company, LLC, an asset management firm, is pleased to announce that Leif Christian (L.C.) Kvaal has joined the firm as a partner and portfolio manager. Mr. Kvaal will direct the firm's new London office and will manage two new long/short equity funds: Delta Fund Europe, LP and Delta Fund Europe, Ltd.

Mr. Kvaal, 35, is a 10-year veteran of Fidelity International Limited in London. He most recently managed the US$550 million European portion of Fidelity's International Small Cap Fund and the European Open Fund. Mr. Kvaal graduated with honours from the University Professor's Program at Boston University.

Remy Trafelet, founder of Trafelet & Company, said, "L.C. is a long-time colleague of mine who has produced spectacular results. I know from working with L.C. that he is one of the brightest and most talented portfolio managers in our industry today. We are extremely lucky to have him as part of our operation."

Trafelet & Company, LLC was founded in June 2000. The firm launched its initial three funds, Delta Onshore LP, Delta Institutional, LP, and Delta Offshore, Ltd. on November 1, 2000. All of the firm's Funds are long/short equity funds employing a bottom-up fundamental research investment strategy. Trafelet & Company is based in New York City and London. source

Resource #2 (10.13.08): Only 10 months ago, Remy Trafelet was so flush that he treated about 100 employees at his hedge fund to a getaway in Venice. He and his crew spent a long, luxurious weekend at the five-star Hotel Bauer, which has Murano glass chandeliers, private gondoliers and a splendid view of a 17th-century basilica.

Resource #3 (10.1.2000): Lara Elizabeth Schmidt and Remy White Trafelet were married yesterday by the Rev. Richard A. Burnett at Trinity Episcopal Church in Columbus, Ohio.

Mr. and Mrs. Trafelet work in New York, the bride as the director of sales for Circline Inc., which sells art and antiques online, and the bridegroom as the managing partner of Trafelet & Company, a hedge fund.

The bride, 31, graduated from Lynchburg College. Her parents, Mr. and Mrs. Harry E. Schmidt III, live in Columbus, where her father is the managing director for the local office of the Georgetown Company, a real estate and financial services company. Her mother, Dr. Carolyn W. Schmidt, is a lecturer and writer on art. source

Resource #4 (3.24.06) As Remy Trafelet flips through a lengthy earnings analysis report prepared that day by one of the investment professionals at Trafelet Delta Funds, he interrupts his enthusiastic discussion of the company to acknowledge two matching cuts on his hands. "Raking leaves and yard work," he says.

When conversing with Mr Trafelet, the 36-year-old former Fidelity manager whose eponymous hedge fund firm has risen to $5.7bn in assets since its founding in 2000, it becomes apparent that he loves getting his hands dirty when it comes to digging for stocks. The report was one day's work; it will be entered into the firm's proprietary database, which records every interaction a Trafelet analyst has ever had with a company.

In the hedge fund industry a thirtysomething manager with more than $1bn in assets is not unheard of. And most money managers will say they love digging for investment ideas. So what makes Mr Trafelet different? source

Resource #5 (10.29.08) Hedge funds were supposed to be the saviors of the higher-end Manhattan office market as the credit crunch and the financial crisis claimed Class A leasers like Lehman Brothers, Bear Stearns and Merrill Lynch, and generally contracted what had been a boom real estate sector.

Now, according to Real Estate Weekly, these saviors are starting to pull back. Reporter Daniel Geiger cites several hedge funds that are either shedding space, subleasing it, or edging toward one of the two. These include:

Trafelet at 590 Madison Avenue has put the building's entire 39th floor up for sublease. source

Resource #6 (2002) A New York hedge fund and its managing member have reported a collective 7.7 percent stake in America Service Group Inc. in a Monday filing with the Securities and Exchange Commission

Trafelet & Co., which consists of three long/short funds totaling $35 million, reported owning 414,000 shares of the Brentwood-based provider of correctional health care services, giving it a 7.6 percent stake. Meanwhile, managing member Remy Trafelet reported 2,500 shares, or a 0.1 percent stake.

This filing comes as America Service Group is expected to report earnings of 22 cents per share in the second quarter by analysts at Thomson Financial/First Call. For the same period a year ago, the company posted a loss of 82 cents per share.

For the entire year, analysts expect the company to earn $1.08 per share, compared to a loss of 53 cents per share last year. source

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