Steve Shapiro's Intrepid Capital Management has expanded
into the energy sector with a global utility hedge fund.
The firm, through its Intrepid Associates affiliate, has
entered into a joint venture with portfolio manager James "Jos"
Shaver and his Electron Capital Management. Shaver has been
incubating the fund since last fall and only recently opened to
domestic investors. It will open an offshore fund this
The Electron Global Utility Fund employs a long/short equity
strategy focusing on global utilities that include electricity,