Alive and kicking
Salida Capital was among the hedge funds hardest hit by the financial crisis. The Canadian hedge fund has since staged a remarkable recovery and now has its sights firmly set on expansion, reports Kris Devasabai
When Courtenay Wolfe took the reins as president and CEO of Salida Capital in October 2008, the Toronto-based hedge fund company was facing the biggest crisis in its history.
The performance of Salida's funds had fallen off a cliff at the onset of the financial crisis and its flagship onshore Multi-Strategy Fund was on its way to a 66% loss for the year.
To make matters worse, three of Salida's offshore funds used Lehman Brothers as prime broker and had to be closed after assets were frozen in
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