New York-based Steadfast Capital Management is creating a considerable buzz amongst Asian investors following a trip by the firm to the region recently. Steadfast, which manages almost $4 billion in assets, is known for its value-oriented approach, its capital preservation skills and a bottom-up, fundamentals-driven investing approach.
While the firm’s primary investments are in North America (with only a limited exposure to Asia) within its global strategy, it is drawing investor interest in Asia owing to the team’s pedigree and renewed investor interest in the US markets.
Steadfast was set up in 1997 by Robert Pitts, a Tiger cub manager who worked in several capacities at Tiger, including managing director in charge of financial services investments. Firm COO Joseph Carney was previously president of Sargassum Capital. Chris Blundin and Andrew Foote, both with considerable investing experience, serve as principals and analysts. Jeffrey Moore takes on the role of managing director. The firm is understood not to have any plans to open an Asia office at this stage.