CHICAGO--(BUSINESS WIRE)--Adi Capital Management L.L.C. (“Adi”), a long/short equity manager headquartered in New York, and Aurora Investment Management L.L.C. (“Aurora”), a $9 billion Chicago-based alternative investment manager, have announced that the two firms entered into a strategic relationship effective January 2014, whereby Aurora has provided early stage capital to funds managed by Adi.
Founded by Chief Investment Officer Paritosh Gupta, Adi began managing external capital at the outset of the new year. Prior to launching Adi, Mr. Gupta served as an Analyst and Managing Director of Brahman Capital, a multi-billion dollar investment firm, where he worked from April 2005 to July 2013. Mr. Gupta said the following about the relationship with Aurora: “Our team is excited to begin this new chapter and looks forward to building an organization focused on investment excellence and integrity. We are thrilled to have a world-class hedge fund allocator like Aurora serving as our strategic investor. Aurora's experience and success in the new launch space has proven quite valuable and we are excited to have them as investors for years to come.”
Adi follows a global long/short equity approach with a value and event bias. The firm seeks to identify investment opportunities involving companies undergoing dramatic structural and corporate change, married with a focus on shareholder value oriented CEOs. On the outlook for the strategy, Mr. Gupta said: “We believe the global investment environment today is particularly ripe with opportunity for our strategy, driven by historically high levels of CEO change, corporate restructurings, demutualizations, and government involvement in economic affairs.”
Mr. Gupta is joined by two experienced investment professionals on the investment team, Amit Anand (formerly an Analyst at Axial Capital Management) and Nicholas Khuu (previously a Senior Analyst at Knighthead Capital Management), as well as Chief Financial Officer Robert Wong, who joined Adi after 8 years in the same role at Clairvoyance Capital Advisors.
In its more than 25 years of identifying investment talent, Aurora has consistently sought to identify skilled alternative investment managers early in their business cycle, and has been an early stage investor with many successful hedge fund managers. Aurora’s Chief Investment Officer Justin Sheperd commented on the investment, “Adi’s emphasis on identifying companies undergoing dramatic structural and corporate change is particularly exciting in today's investment climate, and we believe Adi will offer our clients a unique exposure to today's robust global event landscape. Given Aurora's long history of success investing in early stage managers, we are proud to continue that tradition with the inclusion of Adi in our portfolios."
About Aurora
Aurora is one of the world’s leading managers of hedge fund portfolios in the alternative investments industry. Since its founding in 1988 with the launch of Aurora Limited Partnership, Aurora has managed hedge fund portfolios, pursuing investment results with a consistent investment philosophy, a commitment to superior due diligence, and a disciplined investment process. Headquartered in Chicago, Aurora manages over $9 billion in assets for institutional clients, including corporate and public pension funds, foundations and endowments, insurance companies, and healthcare organizations. Since 1995, Aurora has provided customized portfolio solutions to clients to help them meet their specific investment objectives. Further information is available at www.AuroraLLC.com.
About Adi Capital
Adi is a New York based investment management firm. Adi employs a fundamental research driven long/short equity strategy with a value/event bias. The firm’s objective is to achieve superior returns by capitalizing on dislocations caused by corporate events including spin offs, M&A, management change, withdrawal of subsidies and change in supply demand dynamics. Adi aims to produce attractive absolute returns based on individual stock selection rather than directional bias. Adi launched its first fund in January 2014.
