Equity Oriented

The firm takes equity-oriented positions in several of its strategies, and takes on such positions in a variety of forms. It is less common for the firm to take on long equity positions which are just driven by valuation considerations. C12 seeks out positions in particular which are uncorrelated with other positions in the portfolio or with the risks and expected price movements of equities generally, or where value and protection against risk can be enhanced by the firm’s manual efforts. Positions with a high asymmetry of reward to risk create a high degree of optionality.