Los Angeles-based Riley Investment Management is opening its activist/deep value hedge fund to institutional investors for the first time.
The fund, called SACC Partners, was launched in 2000. Since then, it has racked up an impressive track record. From inception through the end of last year, the portfolio has clocked a five-year net annualized rate of return of 22.9%.
Managed by Bryant Riley and John Ahn, the portfolio uses a wide variety of activist strategies primarily in the micro-cap sector of companies with a market capitalization of less than $250 million. The portfolio is fairly concentrated, holding an average