Salida scores treble digit return

Date: Friday, December 4, 2009
Author: Kris Devasabai, Hedge Funds Review

Salida Capital’s offshore long/short equity and energy hedge funds are up close to 200% year-to-date on the back of successful bets on gold and the energy sector.

Salida’s BTR Strategic Growth Fund was up 185.75% at the end of November 2009. The fund is primarily a long/short equity strategy with the capability to invest in merger arbitrage and special situations on an opportunistic basis.

Investments are structured around the macro views of Danny Guy, the fund’s manager and Salida’s chief investment officer.

Salida’s BTR Global Energy Fund, which pursues a long/short equity strategy in the energy sector, performed even better, posting returns of 193.05% to the end of November.

Salida’s onshore Multi-Strategy Fund for Canadian investors, which pursues a combination of event driven, equity long/short, merger arbitrage and fixed income strategies, is up 154.03% year-to-date.

The huge gains mark a spectacular comeback for Salida after a difficult 2008. The Toronto-based company was forced to close three of its offshore funds, including its flagship Global Opportunity Fund, after it became embroiled in the Lehman Brothers collapse.

Salida Capital has total assets under management of $500 million across its funds range. 

The Strategic Growth Fund was launched in March 2009 and follows a similar strategy to the Global Opportunity Fund. It has assets under management of around $85 million.

The BTR Global Energy Fund has $35 million in AUM.