Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:How GoodHaven Relied on a Key Investor Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 27, 2012

How GoodHaven Relied on a Key Investor

News summary by MFWire's editors

There is a well-worn path for tech startups to follow from VC firm to VC firm. Fund analysts seeking to strike out on their own have no such path to guide them. Yet, there has been a rush of former PMs opening their own shops, which should make Morningstar's article on the founding of Goodhaven of interest.

Goodhaven Capital Management was founded by two Fairholme PMs -- Larry Pitkowsky and Keith Trauner -- in late 2010. The pair left Fairholme as that firm was going through some well-publicized turmoil.

With their only competitive edge being their investment prowess, the pair took a page from Silicon Valley's playbook and lined up a key initial investor to provide seed capital, stability and some "buzz". The pair's first fund now has $91 million of AUM and they plan to close it when it hits $3 to $5 billion.

Pitkowsky and Trauner pitched Tom Gayner, CIO of Markel and chairman of the Davis Funds, on becoming Goodhaven's first separate-account client and an investor in the firm. That investment would provide capital to keep the fund's expense ratio down and serve as an endorsement of the firm's potential.

Markel was also an early investor in Fairholme in 2000.

"There's no substitute for knowing someone for an extended period of time," Gayner told Morningstar. "I had talked with them about investment ideas, and I could tell by the types of questions they were asking that they knew what they were doing." 

Edited by: Sean Hanna, Editor in Chief


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use