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
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