Hedge Fund Making 20% a Year For Last Decade Targets Uranium M&A [BNN Bloomberg (Canada)]
QANTAS AIR LTD S/ADR NEW (QABSY)
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Source: BNN Bloomberg
Melbourne-based L1 Capital's flagship Long Short Fund is up 20% per annum since inception, the best performing Australia-based strategy for that 10-year period, according to data compiled by Zenith Investment Partners, a research firm. While NexGen's stock struggled this year after a 53% surge in 2023, L1's head of research Amar Naik says he isn't tempted to trim the position. “It's such a strategic asset that once they get their final approvals, it's a very high likelihood that it would be a good takeover candidate for one of the majors,” said Naik in an interview in Melbourne. L1 Capital was founded by Raphael Lamm and Mark Landau in 2007, beginning with long-only stocks before launching the Long Short fund in 2014, that's now about A$4.6 billion. More recently, the firm's drawn plaudits for its Catalyst Fund that's seen success with an activist strategy. It now manages across all its funds around A$7.5 billion. NexGen counts L1 as its biggest shareholder after the Australian
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