HedgeF020 · Vintage 2015Open
Obsidian Activist Fund
Obsidian Partners
Concentrated activist book — 6–10 core positions in mid- to large-cap industrials and consumer.
Event DrivenShareholder ActivismUSUKArticle 8
Performance · since fund launch
Cumulative net return
23.6%
since inception
Compare with
| Fund vs indexes | 1Y | 3Y | 5Y | Per year since launch | Yearly volatility | Largest drop |
|---|---|---|---|---|---|---|
| Obsidian Activist Fund | +9.8% | +11.4% | — | +5.3% | 7.1% | -12.5% |
| HFRI Fund Weighted Composite(illustrative) | +4.5% fund +5.3pp | +12.1% fund -0.7pp | — | +4.8% fund +0.5pp | 3.9% | -4.0% |
| S&P 500 Total Return | +26.3% fund -16.5pp | +33.1% fund -21.7pp | — | +19.7% fund -14.3pp | 18.2% | -23.9% |
| STOXX Europe 600 | +12.7% fund -3.0pp | +20.0% fund -8.6pp | — | +11.4% fund -6.0pp | 13.7% | -20.5% |
Sources: HFRI FWC — Illustrative mock data · S&P 500 TR — Yahoo Finance (^SP500TR) · STOXX 600 — Yahoo Finance (^STOXX, price index). Index data aligned to the fund's quarter ends.
| Quarter | Quarterly return | Sharpe |
|---|---|---|
| 2022 Q1 | -6.55% | 1.31 |
| 2022 Q2 | +4.66% | 1.27 |
| 2022 Q3 | +4.00% | 1.27 |
| 2022 Q4 | +0.88% | 0.93 |
| 2023 Q1 | +2.35% | 1.21 |
| 2023 Q2 | -0.38% | 1.26 |
| 2023 Q3 | +2.63% | 1.32 |
| 2023 Q4 | +4.91% | 0.89 |
Terms
Target fund size£2.5bn
Current AUM£2.1bn
Min ticket£25m
Largest investment accepted£250m
Target net IRR13–18%
Minimum time investors must stay in3 years
Management fee2.00%
Carry / performance20%
ESG / SFDRArticle 8
Liquidity
Annual liquidity, 90-day notice. 3-year initial hard lock.
Investment highlights
- 3 board seats secured in last 24 months
- Average campaign IRR 22%
Top 5 holdings
Largest positions · % of fund · simulated
- Highgate Realty8.7%
- Cobalt Pharma7.9%
- Redwood Capital7.9%
- Sterling Bancorp7.8%
- Crestline Auto7.6%