Camini Capital is a long/short equity hedge fund seeking superior investment returns through a concentrated, long-term, value-oriented investment approach.
Forged in Pittsburgh
Camini is the plural word for a metal forge or foundry in Latin. The name pays homage to the economic heritage of Pittsburgh, where both members of Camini Capital grew up.
Our logo is the iconic image of a molten steel crucible emblazoned with nested C's for Camini Capital. Together, our name and logo convey strength, longevity, and industriousness — values we aim to uphold while conducting our business and across all facets of our lives.
The 4 Q's
Camini Capital seeks to generate superior investment returns with a concentrated, long-term, value-oriented approach designed to participate in investments we view as having asymmetric prospective returns relative to the underlying risk. We are industry agnostic and believe the market's temporary price inefficiencies can provide opportunities for outsized investment returns to diligent capital allocators and investment managers like Camini Capital. We aim to participate in investments that have the highest overall compatibility with our key investment criteria, outlined below.
Quality of Business
- Operates in an industry with significant barriers to entry and has a defensible model differentiated from competitors
- Pricing power
- Possesses tangible assets with operating leverage for growth
- Provides an integral product or service to society
- Strong intellectual property and adequate legal protections
Quality of Management
- History of strong performance and ability to make difficult decisions that optimize long-term value creation
- Prudent capital allocators
- Compensation aligned with shareholders' and broader stakeholders' interests
- Depth of management team "bench"
Quality of Value
- Trading at a discount to our long-term view on intrinsic value and relative value of peers
- Special situations — restructuring, management turnover, extraordinary economic events — create market dislocation in price vs. underlying value
- Overlooked securities on the basis of size, industry, or lack of analyst coverage
Quality of Balance Sheet & Accounting
- Positioned to be free cash flow generative in the long term
- Situationally appropriate and manageable debt levels
- Sufficient liquidity to fund future growth at the lowest cost of capital while minimizing dilution
- Conservative accounting disclosures with a reputable auditor
Co-Founders
Carleton Gibson
Education
- BS, Carnegie Mellon University
Prior Experience
- Tinicum Incorporated (2018 – 2021)
- Bank of America Merrill Lynch, Mergers & Acquisitions (2016 – 2018)
David Rex
Education
- BS & Masters in Accounting, Penn State University
Prior Experience
- Ernst & Young (2017 – 2021)
For Accredited Investors
If you are an accredited investor and would like to be included on Camini's quarterly letter mailing list, please complete the form or reach out directly by email.
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