Gratia Capital LLC

Gratia Capital LLC

Gratia Capital LLC

Overview
Date Founded

2012

Headquarters

2029 Century Park East, Suite 1180, Los Angeles, California, 90067, United States

Type of Company

Private

Employees (Worldwide)

5

Industries

Hedge Funds
Investment Services & Portfolio Management

Company Description

Gratia Capital pursues a single-name, fundamental value and event-oriented strategy that focuses on both individual and thematic investment opportunities (long and short) in three main sectors: consumer & services, industrials, and real estate. The firm assesses relative value between equity and credit opportunities on a company-specific, subsector specific (among peer groups), and macro level to identify strong, risk-adjusted investments. They seek to invest opportunistically across the capital structure and may at times employ equity positions as a hedge to credit positions, or vice versa.Gratia looks for long position opportunities that they believe exhibit compelling characteristics that will lead to mark-to-market price appreciation and/or capital return (dividends, interest, etc.). In general, the firm expects to take long positions in companies that are perceived to have stable prospects and attractive, growing free cash flow yields and good valuation multiples. Gratia prefers shorts in businesses that are perceived to have weak or declining business prospects, or business prospects dwarfed by peers, with respect to which Gratia has taken a long position. They may make investments outside of these general criteria depending on valuation and other factors. Investments are primarily focused in the US, although Gratia will opportunistically invest in other developed markets. In non-U.S. markets, Gratia primarily trades equities, and to a limited extent, corporate credit. The most common non-US markets that Gratia trades in include: Canada, Australia, United Kingdom, France, and Germany. In normal market conditions, the firm targets equity-like returns and, will likely hold more gross equity exposure than gross credit exposure. However, as Gratia seeks to be opportunistic in their weighting of equity versus credit, the proportions could change. In addition, Gratia may borrow money to purchase securities on margin.

Executives & Employees

Chief Financial Officer, Chief Compliance Officer

Member & Chief Compliance Officer

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Morgan Stanley & Co. LLC is an SEC-registered broker/dealer headquartered in New York City and was founded in 1969. The firm is the primary broker subsidiary of Morgan Stanley (NYSE: MS). They are a member of FINRA. Morgan Stanley provides debt and equity services including underwriting, M&A advice, securities dealing and brokerage and trade execution. Their client base ranges from large global institutional investors to hedge funds at the cutting edge of innovation in the industry.

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