Audley scores huge gains with Western Coal stake, prepares to start resources-only fund

Fri Nov 26, 2010

Event-driven activist investor earns massive pay day from North American mining takeover and lines up a new resources-focused fund to invest solely in metals and mining companies

Audley Capital, the London-based activist event firm founded by Julian Treger and Michael Treichl, has made spectacular gains in its flagship event-driven fund this year thanks to a hugely profitable position in Canadian mining company Western Coal.

Julian Treger and Lucio Genovese

The Audley European Opportunities Fund’s US dollar share class is up 38.57% this year to the end of October as a result of big gains in the last two months – with the fund being up 29.42% in September and 10.91% in October.

But November looks like being better still, with the fund up almost 80% for the year to date (as of late November) as a result of the Western Coal bonanza.

Western Coal – in which Audley holds a 23% stake and which was the subject of a $3.25 billion takeover offer from US-based Walter Energy last week – is currently a...

ISSN: 2151-1845 / CDC10004H

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