Newcastle Partners, LP

Posted by: Pro

Updated:
02.26.07
Views:
User Rating:
3.51/68
TheStreet Rating:
C+
RATE NOW
Log in to rate this portfolio
Follow
Log in to follow

Description:

Newcastle Partners, LP is a $585 million dollar Dallas-based hedge fund founded by Mark Schwarz in 1993.

New positions: CGV, UIC, WLT

From D Magazine article by Adam McGill:

"Schwarz, 44, founded Newcastle with an investment philosophy based on the intrinsic value of assets. Basically, Schwarz and his Newcastle partners find a small, publicly traded company that isn't performing well. That's step one. Step two: buy a controlling interest. Step three: insinuate yourself onto the board of directors, clean house, and get the company to perform to its potential. Step four: profit. Philosophy is good; results matter. Newcastle boasts a 12-year annualized return of about 27 percent.

Schwarz has elbowed his way into the boardrooms of companies like Tandycrafts and Hallmark Financial Services. Other company's boards, like those of Gehl, a maker of construction equipment, and Haggar, maker of pants, have fended off his advances."

As of 12-31-06 filing.