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Long/Short Equity

PA Capital invests in global long/short equity opportunities, leveraging 20 years of relationships, insights, and investment experience to access small and/or over-subscribed fund managers and opportunistic co-investment ideas.

Access to Differentiated Exposure with Downside Protection

PA Capital focuses on a segment of the market that we believe offers key advantages relative to larger funds and long-only strategies:

  • Long and short alpha generation across market cycles
  • Ability to capitalize on a large array of off-the-run opportunities in small and mid-cap stocks
  • Capital preservation during market downturns through value-focus and short exposure
  • Low correlation to the broader market indexes

Our Dedicated Strategies

Core Long/Short Equity Strategy

Our flagship long/short equity strategy was launched in 2001 and seeks to deliver returns that are less correlated to broad equity markets.

  • 20-30 small and mid-sized funds as well as high conviction direct equity co-investments
  • Fund managers with a proven track record of generating both long and short alpha
  • Diversified by sector, geography, and market cap

Emerging Long/Short Equity Strategy

A concentrated multi-PM long/short equity strategy launched in 2014.

  • Core exposure to 8-12 emerging and undiscovered PMs typically managing less than $100 million
  • Complementary exposure to long and short direct co-investments sourced through PA Capital's extensive network
  • Investing through managed accounts with attractive fee structures
  • Emphasis on small and mid-cap stocks
  • Custom screens available to eliminate exposure to industries, sectors, or companies
“We believe consistency of returns is the most effective way to compound capital over time. The value of short selling is not evident during all market environments, but it is a valuable tool to help protect capital, dampen volatility and generate additional sources of alpha.”

Our Philosophy

We employ a fundamental, value-oriented approach to investing in public equity markets. We believe this approach, and our emphasis on identifying opportunities with the potential to generate both long and short alpha, can result in attractive risk-adjusted returns and may mitigate losses during market downturns. Identifying and accessing the most attractive opportunities requires a partner with deep relationships and experience in this space. We are your trusted partner in accessing Long/Short Equity.

“We believe the collective knowledge and network of our platform is vital to strong decision-making; we foster a team-based culture predicated on collaboration and information sharing.”
37

Total PA Capital Investment Professionals

23

Avg. Years Experience of Senior PA Capital Team

10

Long/Short Equity and ODD Professionals