Salida Capital
| Industry | Financial services |
|---|---|
| Fate | closed its funds in 2013 |
| Headquarters | Toronto, Ontario , |
Key people | CEO Courtenay Wolfe; others: Brad White, Danny Guy, David Fleck |
| Website | www |
Salida Capital was a Canadian hedge fund, private equity and private wealth management firm, based in Toronto, Ontario, and founded in 2001.[1] Salida's assets under management peaked in early 2008 at CAD $1.3 billion and then declined to approximately $300 million following the 2008 financial crisis.[2] The firm struggled for several years before deciding to wind-down the two remaining funds in 2013, and deregistering with the Ontario Securities Commission in September 2013.[3]
The company paid US$1.68 million in 2009 for some of its executives to dine with Warren Buffett, CEO of Berkshire Hathaway.[4] In April 2010, the company announced plans to launch a private equity fund, which at the time had C$100 million in seed investment committed so far.[5] Like many financial portfolios during the financial crisis of 2007–2010, Salida's hedge fund declined in value—it fell 66.5% in 2008—but it recovered a portion the following year by rising 83% (around 40% of its lost value).[6] The firm subsequently suffered further losses, with the Salida Strategic Growth Fund losing a large portion of its capital before deciding to terminate the fund.[3]
References
[edit]- ^ "Salida Capital Launches Private Equity Fund; $100 million seed investment committed". CNW. 2010-04-14. Retrieved 2010-06-07.
- ^ Pachner, Joanna (13 August 2009). "Salida 'back from the abyss'". The Globe and Mail. Retrieved 4 November 2023.
- ^ a b Critchley, Barry (2013-04-04). "End of losses as Salida Strategic Growth Fund gets the axe". Financial Post. Retrieved 2014-07-07.
- ^ Funk, Josh (2010-06-06). "Buffett hopes lunch auction again draws big bids". Associated Press. Archived from the original on June 8, 2010. Retrieved 2010-06-07.
- ^ McCrank, John (2010-04-14). "Salida Capital to launch private equity fund". Reuters. Retrieved 2010-06-07.
- ^ Krashinsky, Susan (2009-07-08). "Salida Capital's bill for Buffett lunch: $1.68-million". The Globe and Mail. Retrieved 2010-06-07.
https://www.bloomberg.com/news/articles/2011-10-03/salida-capital-s-wolfe-says-speculation-of-hedge-fund-s-collapse-unfounded https://www.theglobeandmail.com/globe-investor/lunch-with-buffett-red-meat-and-a-side-of-wisdom/article4321657/
External links
[edit]- salidacapital.com - The last entry on the WayBackMachine was in December 2014.
- Companies based in Toronto
- Financial services companies established in 2001
- Private equity firms of Canada
- Hedge fund firms in Canada
- Defunct hedge funds
- Canadian companies disestablished in 2013
- Financial services companies disestablished in 2013
- Canadian companies established in 2001
- 2001 establishments in Ontario
- 2013 disestablishments in Ontario