Doubloon Capital, the new hedge fund firm launched this year by Pirate Capital founder Thomas Hudson, is looking to add to its crew. The event-driven firm, which will target stressed and distressed companies, is actively seeking to add "an aggressive analyst" to its team, according to a job ad drafted by the firm. A Doubloon staffer declined to comment on anything regarding either the new firm or Pirate.
Hudson’s aggressive activist stance — and his motto "Surrender The Booty!" — brought Pirate notoriety. The firm’s assets under management peaked at $1.9 billion in the summer of 2006, but it suffered poor performance and staff defections, which lead to big redemptions. By summer 2007, the firm was managing around $400 million.
Hudson is clearly sticking with his piratical theme. Not only is the new firm named after a Spanish coin associated with buried treasure, its logo is a galleon at sea and its sparse one-page website features an old seafaring map as a backdrop.
—Robert Murray