Hedge Fund Making 20% a Year For Last Decade Targets Uranium M&A
- L1 Capital’s Naik says NexGen is a likely acquisition target
- Melbourne-based flagship fund manages around A$4.6 billion
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A top performing hedge fund is betting the pullback in uranium producer NexGen Energy Ltd. will be short lived, as the industry’s growing appeal leaves the startup well placed for a potential takeover.
Melbourne-based L1 Capital’s flagship Long Short Fund is up 20% per annum since inception, the best performing Australia-based strategy for that 10-year period, according to data compiled by Zenith Investment Partners, a research firm. While NexGen’s stock struggled this year after a 53% surge in 2023, L1’s head of research Amar Naik says he isn’t tempted to trim the position.