Long Pond Capital

Established in 2010, Long Pond Capital is a New York-based hedge fund manager founded by John Khoury. The firm focuses on long/short equity investments in the real estate and real estate-related sectors. It employs a rigorous, bottom-up research process in an effort to identify asymmetry, which it defines as a disconnect between stock price and intrinsic value, in companies that are misunderstood by the public markets. Wasserstein Debt Opportunities Master (WDO) invests primarily in non-large-cap leveraged loans and high-yield bonds and uses leverage, option-based hedges, and select short ideas to enhance risk-adjusted returns. The firm focuses primarily on private equity-backed, US non-large cap high yield issues, where they see potential for price inefficiency and differentiation.