Counterwave Master Fund LP/ Counterwave Capital Partners LP
The investment objective of the Fund is to generate significant capital appreciation over time by investing in Korean public companies that are undergoing material changes to their business fundamentals.
The Fund will emphasize proprietary fundamental research to make investments (and selectively, short sales) in small, middle or large capitalization companies in which the manager believes that the prevailing market valuations inaccurately reflect the ultimate impact of the fundamental changes. The manager will seek out investment opportunities where there are catalysts that should narrow the gap between intrinsic and market value.
The manager intends to construct a concentrated portfolio of 10-20 positions with a strong bias for long positions.
The investment strategy is sector and size agnostic although the manager emphasizes companies with lower foreign investor participation. Short sales will have shorter investment horizons and will be used judiciously, mostly for independent profit opportunities and the “hurdle” for a short position in the portfolio will be higher than for long positions. In instances where the manager determines that a company has favorable idiosyncratic characteristics but may be exposed to specific industry or macro risks, short sales may be used for hedging of the long position.
The investment management function in connection with the Fund has been delegated to Counterwave Capital Management LLC, a Delaware limited liability company led by Mr. Jason Park.
Mr. Jason Park has over 12 years of research and investment experience in private and public equities throughout Asia and the United States.