Overview
IBS Capital Corporation was originally organized in June 1990 as an S corporation and re-
organized (for tax purposes) in 2007 as IBS Capital LLC (“IBS”), a Massachusetts limited
liability company. IBS is the general partner of The IBS Turnaround Fund (QP) (A Limited
Partnership) and The IBS Turnaround Fund, L.P. (collectively, the “Turnaround Funds”), and IBS
is the investment manager of The IBS Opportunity Fund, Ltd. (the “Opportunity Fund”)
(collectively, the “Funds”). IBS is solely responsible for making all investment and related
decisions for the Funds. David A. Taft is the President of IBS and serves as the portfolio
manager of the Funds. Mr. Taft and Theresa Taft are the principal owners of IBS.
The primary investment goal of IBS’s portfolios is to generate (i) superior, long-term, after-tax
returns (Turnaround Funds) or (ii) superior, long-term, pre-tax returns (Opportunity Fund) for the
investors in the relevant Funds through the purchase and sale of securities in companies and
countries that have limited
downside risk, but substantial appreciation potential. The portfolios
are designed to have minimum correlation with the stock and bond markets and for maximum tax
efficiency.
For additional information about the Funds, please see the Confidential Private Placement
Memorandum for the relevant Fund (each, a “Memorandum”).
Any restrictions on investments in certain types of securities are established by IBS for the
applicable Fund and are set forth in the relevant Memorandum received by each investor prior to
investment in the Funds. As of December 31, 2023, IBS had approximately $108,719,000 assets
under management across the Funds, all of which is managed on a discretionary basis.
After an initial one-year lockup, the IBS offers investors the right to redeem part of or all of their
investment on dates described in the relevant Memorandum. Investors should note that IBS has
the right to limit or even halt redemptions should the demand from investors for redemptions
exceed the ability of IBS to judiciously liquidate assets in a Fund’s portfolio without impairing
the value of those assets.