Ted Wagenknecht and Kevin Curran have launched a new firm, Applied Fundamental Research (AFR).
Wagenknecht, who previously was a principal and portfolio manager at DDJ Capital Management, and Curran, formerly a research analyst at DDJ, formed Applied Fundamental Research to effect a spin-out of DDJ’s Value Opportunities Strategy, which Wagenknecht has overseen since inception.
"We are excited at the opportunity that DDJ has given us to create Applied Fundamental Research," says Wagenknecht, who will oversee portfolio management for the firm. "The support and guidance DDJ has provided us throughout the establishment of AFR has been exceptional, and puts us in an advantaged position to successfully build Applied Fundamental Research into a world-class value investment manager. We believe that by focusing our efforts on performance over asset aggregation, and by closely aligning our interests with those of our investors, we can help shape a new paradigm with respect to the relationship between investment managers and investors."
"In economic environments like these, we believe our strategy of opportunistic, risk-averse value investment across a company’s capital structure meets a significant need in the marketplace," says Curran.
DDJ is supporting AFR’s formation with initial and ongoing capital and has taken an equity interest in the new firm.
"DDJ is pleased to support the growth of AFR’s business and we wish Ted and Kevin continued success in this new initiative,” says David Breazzano, co-founder and president of DDJ.
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