Hedge fund Palliser hires former Elliott partner Kasoff
20/03/2024 17:11
By Svea Herbst-Bayliss
NEW YORK, March 20 (Reuters) - UK hedge fund Palliser
Capital is expanding into the U.S. and said on Wednesday it
hired Steve Kasoff, bringing on board a former Elliott
Investment Management partner to evaluate current and new
opportunities in the United States.
At Palliser, Kasoff will reunite with James Smith who ran
Elliott's Hong Kong operations before founding his
London-headquartered firm in 2021.
Kasoff, a former equity partner and senior portfolio manager
at Elliott, will be Palliser's first employee in the U.S. and
joins 17 others who are based in London and Asia. Before
retiring from Elliott in 2020, Kasoff headed the firm's
investments in real estate and structured credit.
Smith praised Kasoff's depth of experience and success
across asset classes and said he will benefit Palliser's entire
portfolio, including with current and new ideas.
Palliser has pushed for changes at Japan's Keisei Electric
Railway 9009.T and U.K. oil and gas exploration and
development company Capricorn Energy CNE.L . It is also urging
Samsung C&T 028260.KS to spend its cash better, improve
governance and communications and simplify its corporate
structure.
The fund, which oversees roughly $850 million in assets,
returned more than 10% after fees in the last 12 months, people
familiar with the performance said. The average multi-strategy
fund returned 8.56% in 2023, Hedge Fund Research data show.
(Reporting by Svea Herbst-Bayliss; Editing by Josie Kao)
((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))