Thomas R. Hudson Jr.: Pirate Capital LLC

Pirate Capital LLC is a Norwalk, Connecticut based investment adviser established in 2002 by Thomas R. Hudson Jr. The firm uses shareholder activism to push for structural changes in target companies.

Pirate Capital LLC is the general partner entity to 4 hedge funds. All of the 4 funds employ the same approach to investing. However, the activist funds are generally significantly more concentrated, and mainly consist of equity instruments in companies that are targeted for activism.

The fund purchases percentages in underperforming companies and then pushes for managerial improvement. The company’s slogan, which fits its corporate image, is: “Surrender the Booty!”

Thomas R. Hudson Jr., 41, who established Pirate in 2002, is well known for purchasing stakes in companies and pushing management to make changes which boost their stock prices.

The firm’s assets fell to $375 million as of September, 2007 from $1.8 billion a year earlier.
‘`I do not apologize for the reputation I have garnered as a demanding boss,” Hudson said in a written statement. ‘I work very hard and expect the same thing from every member on my team. The main thing that I am interested in is making money for our investors. We believe that what the investors really care about is the return that we are able to generate, not the departure of analysts who were not satisfied with the responsibility and/or autonomy that they were given on my team.’

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