Rigden Capital Strategies

The firm runs a concentrated, long-only deep-value equity strategy focused on publicly traded companies trading at significant discounts to tangible asset value and normalized earnings. The approach emphasizes a margin of safety derived from balance-sheet strength and cash flow generation, holding positions through multi-year cycles.

The vehicle operates with quarterly liquidity and a capacity gate, functioning similarly to a permanent capital partnership. This structure insulates the strategy from the short-term redemption pressures and daily mark-to-market constraints that typically force daily-dealing fund managers to reduce concentration or compromise on position sizing.

Sourcing is driven by proprietary quantitative screening for stocks trading below net current asset value, tangible book value, or depressed multiples of normalized free cash flow. The resulting list is then subjected to qualitative assessment of management teams, capital allocation history, and business durability.

The firm does not hedge, short, or employ leverage. The strategy is exclusively long-only equity, with the manager viewing downside protection as a function of the purchase price relative to tangible asset coverage rather than through derivative instruments or factor offsets.

The partnership primarily serves institutional allocators, endowments, and single-family offices. The strategy's illiquidity premium, concentrated book, and absolute-return orientation align with allocators willing to accept tracking error in exchange for deeply uncorrelated equity exposure.