Ex-Macquarie Banker’s Activist Hedge Fund Strategy Soars 42%
- L1 Capital’s Hawkins says activism losing stigma, now valued
- Hawkins’ fund is concentrated in about 10 Australian stocks
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One of Australia’s most-prominent activist hedge funds is notching returns nearly double that of the country’s benchmark stock index, as the once-shunned investment style becomes increasingly popular.
L1 Capital’s Catalyst Fund, managed by former Macquarie Group Ltd. investment banker James Hawkins, has gained 42% since its inception in 2021. The A$1.7 billion ($1.1 billion) fund is a portfolio of around ten stocks that aims to push for changes — such as boardroom shakeups and dividend increases — at companies it owns.