2021 Investor Day
Our vision was to create a better hedge fund option that was truly client‐centric. The goal was (and still is) to impact clients meaningfully by achieving unrivalled results. We agreed that if we couldn’t deliver consistently stronger returns than most competitors, we shouldn’t be in business.
Our overriding mission is to be a trusted partner who delivers superior results and brings effective, insightful solutions to clients. Based on our research and consultation with participants across the field, we believe that thoughtful and consistent Environmental, Social, and Governance (ESG) factor integration and monitoring can mitigate risk, create value, enhance the sustainability of capital, and deliver attractive risk-adjusted investment results.
Explore
Corbin encourages active and peaceful engagement with race and social-related problems that afflict our society at large. In an effort to cultivate this engagement, and based on an unwavering commitment to the foundational principles of fairness, equality and justice, Corbin has created a Racial and Social Justice Task Force (RSJTF). The RSJTF is designed to promote broad-based employee "hands on" participation in various initiatives targeting matters of racial and social injustice. Every Corbin employee, whether formally a member of the RSJTF or not, is encouraged to contribute to its mission.
Corbin’s vision is rooted in my prior experience working in various aspects of the traditional asset management business. When I started with Corbin, hedge fund managers were pretty fringy in the institutional market - not yet mainstream. They were revered, treated with kid gloves, and everyone was worried about accessing their scarce capacity. I was baffled and shocked by the disconnect between adoration for the hedge fund managers, yet a relative disregard for client needs. Hedge funds were simply asset managers in a different package, and in traditional asset management, it was crystal clear that clients were at the center of the galaxy and treated accordingly. Most hedge funds didn’t seem to get that - client alignment wasn’t the point, and this was reflected in the transparency and service provided to clients.
Our vision was to create a better hedge fund option that was truly client‐centric. The goal was (and still is) to impact clients meaningfully by achieving unrivalled results. We agreed that if we couldn’t deliver consistently stronger returns than most competitors, we shouldn’t be in business. We structured the firm around this guiding principle.
How do we do this? It’s a very active and opportunistic approach that, by design, was different than our primary competitors. Initially, the goal was to complement the big guys and work our way towards becoming a mainstream option. We were not market neutral, not simply a diversification tool, and not driven by distribution trends. Instead, we offered a returns‐seeking approach with a strong focus on delivering idiosyncratic risk by structuring concentrated portfolios of managers. Over a decade later, we are still guided by this client‐centric principle.
Dear Clients and Friends,
It’s no secret that we are living in truly unprecedented times. What's happening around us is heart-breaking, and there's no playbook for how to manage through the chaos. Navigating through an economic crisis presents an enormous challenge in its own right. However, when coupled with a global pandemic, ensuring the safety of employees and the continued growth of a firm requires focus, tenacity and an unwavering commitment to communication.
It’s important for leadership to listen to and empower the voices of their employees and colleagues. In early March, Corbin moved quickly to evaluate and analyze what was and still is a rapidly evolving situation, taking steps early on to mitigate the spread of the virus by closing our office. Therefore, a new approach was needed to ensure we were supporting our employees however possible and maintaining the resources and the wherewithal to do so remotely.
At Corbin, this meant we needed to be closer in communication than ever before. In response, we are knee-deep in implementing a multi-year enhancement project that has so far provided us with a robust remote working platform and streamlined analytical and communication tools. Additionally, as we realized the pandemic wouldn’t be short-lived, we solicited our employees’ candid feedback on returning to work via a survey. Our people are overwhelmingly in favor of continuing to work remotely until the situation improves and the material threat of contagion subsides. I try to be very transparent and honest on what we can manage to do and what’s out of our control, and I think the team appreciates the candor.
It’s incredibly important to support employee mental health. Like everyone, Corbin’s employees are juggling family and personal life with work. We're acutely aware of the difficulty of self-isolating, particularly for those who are alone in small New York City apartments. With this in mind, we’ve taken distinct steps to help assuage anxieties, with programs like a medical concierge service and wellness webinars, to informal social events like virtual happy hours.
We’re exceedingly aware of those who are risking their lives on the front lines of the pandemic. Being located in NYC, initially the epicenter of the crisis in the US, we felt compelled to take action. We have made medical supply donations to NYU Medical Center and Mt. Sinai Hospital and have provided meals to emergency staff. We continue to look for opportunities where we can provide additional support, as appropriate.
Beyond the pandemic, we’re facing a cultural crisis. While strengthening diversity and inclusion at our firm has been a strong focus of ours in recent years, the racial justice protests and narratives have served as a profound wake up call. I’ve always considered myself a strong supporter of social justice initiatives, yet I’ve realized my ignorance surrounding the depth of this country’s structural racial impediments targeted at Black Americans. Many colleagues of mine share this view, so we are committing ourselves to getting smarter on the issues and taking action to make a difference. To date, we’ve created a Racial Justice Task Force to address internal D&I programs and to determine actionable steps to support a number of different community initiatives. Strengthening diversity and inclusion isn’t something that can be solved without continued commitment and proactivity.
When we emerge from this crisis, it’s likely the world we come back to will have changed. The way in which people manage their personal lives, interact with their workplace, and respond to social justice movements have all undergone immense change over the last six- months. It’s our responsibility to lead in a manner that ensures these adjustments will be for the better and will be here to stay for the long run.
Sincerely,
Corbin events are centered around investor involvement and education. We believe it is our duty to provide our clients with information about investment themes and opportunities via various events with our manager partners and industry professionals. Here are some recent events Corbin has hosted.
ExploreCorbin met with Kevin Worth, CEO of CoinDesk, to discuss cryptocurrencies and how to navigate the web of altcoins. CoinDesk is a leading digital media and information services company for crypto asset and blockchain technology. The focus was educational, since Corbin doesn’t have any meaningful exposure to the space. We’ve been looking at it for a few years now, and we know some major players in the industry, but haven’t identified the significant edge we look for before investing our clients' capital. Our key takeaways are summarized below.
Address
Corbin Capital Partners, L.P.
590 Madison Avenue
31st Floor
New York, NY 10022
Phone
212.634.7373
Fax
212.634.7399