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Written by Svea Herbst-Bayliss
NEW YORK (Reuters) – British hedge fund Palliser Capital is expanding into the United States, with former Elliott Investment Management partner Steve Kassoff on Wednesday to assess current and new opportunities there. announced that it had adopted the
At Palliser, Kassoff will reunite with James Smith, who ran Elliott’s Hong Kong operations before forming the London-based company in 2021.
Kassoff, a former Elliott equity partner and senior portfolio manager, will be Palliser’s first U.S. employee and join 17 other employees based in London and Asia. Before leaving Elliott in 2020, Mr. Kassoff led the firm’s real estate and structured credit investments.
Mr. Smith praised Mr. Kassoff’s extensive experience and successes across asset classes and said he will benefit Palliser’s entire portfolio, including current and new ideas.
Mr Pariser has called for changes at Japan’s Keisei Electric Railway and British oil and gas exploration and development company Capricorn Energy. He also called on Samsung C&T to improve its use of cash, improve governance and communication, and simplify its corporate structure.
The fund, which manages about $850 million in assets, has returned more than 10% before fees over the past 12 months, people familiar with the track record said. The average return for multi-strategy funds was 8.56% in 2023, according to data from Hedge Fund Research.
(Reporting by Svea Herbst-Bayliss; Editing by Josie Kao)
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