Billionaire Mario Gabelli, the founder of the Gabelli Asset Management Company Investors (GAMCO Investors), is backing New York-based hedge fund management firm Gondor Capital Management by investing in its domestic hedge fund Gondor Partners LP.
Gabelli’s assistant Betsy Dunn, said that Mario has confidence with Au’s understanding of the markets and generating above-average profits.
Dunn commented on Gabelli’s capital infusion into Gondor Capital, “He (Mario Gabelli) invested in Gondor Capital because he thought Vincent had passion and commitment and a good nose for stocks.”
Vincent Au, the Portfolio Manager Gondor Capital said that GAMCO’s unit, the Gabelli Education Foundation, has invested in his hedge funds because Mario has seen the potential of his funds which has been consistently showing solid returns the past couple of years.
“I believe the strategy and the performance are what attracted Gabelli to Gondor,” said Au.
The strong results of Gondor’s two funds, the domestic Gondor Partners and the offshore Gondor Funds LTD were included in Preqin’s Top Performing Relative Value Strategies Hedge Funds for 2016. Au’s Gondor Partners posted a strong 26.53% last year while the Gondor Funds was up 26.85% during the same period.
In September, Gondor Partners LP was up +1.95%, while Gondor Partners LTD jumped +2.06%.
Au added that Gabelli’s trust in Gondor Capital is a big boost for his funds
“I have known and read about Mario since I was 18 years old (I am 47 now), his investment acumen is legendary thus I am humbled and gratified by Mario's trust and confidence in my strategy and in me,” he said.
GAMCO Asset Management
GAMCO Asset Management was formed in 1977 to provide discretionary investment services to a broad spectrum of investors. Its principal objective is to seek long-term capital appreciation, primarily through the equity markets, by applying an analytical process to the management of client portfolios. GAMCO is a research-driven fundamental investor focusing on ‘value with a catalyst’ investing, based on the principles of the Graham-Dodd school of security analysis, and further adapted by Mario Gabelli, the founder, chairman, and CEO of GAMCO Investors, through his proprietary Private Market Value methodology.
About Gondor Capital Management
Gondor Capital Management, LLC is a New York-based investment management firm specializing in alternative investment strategies which seek to deliver consistent and non-correlated returns.
Gondor Capital Management currently manages two hedge funds, Gondor Partners LP and Gondor Partners LTD.
Gondor Capital Management was founded in 2013 by Vincent Au as a way to leverage his twenty plus years of money management and fundamental equity research experience. Strategies managed by Gondor focus on the United States listed equities and options.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.