HG VORA CAPITAL MANAGEMENT, LLC other names

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Adviser Profile

As of Date:

02/24/2023

Adviser Type:

- Large advisory firm


Number of Employees:

37

of those in investment advisory functions:

13


Registration:

SEC, Approved, 3/29/2012

AUM:

9,758,467,261

of that, discretionary:

9,744,469,524


SMA’s:

YES

Private Funds:

5

Websites (details):
Contact info

Phone: 212-707-4300

Fax: 212-707-5555

Client Types:

- Pooled investment vehicles

Advisory Activities:

- Portfolio management for pooled investment vehicles

Compensation Arrangments:

- A percentage of assets under your management
- Performance-based fees

Reported AUM

Discretionary
Non-discretionary
9B 8B 7B 5B 4B 3B 1B
2018 2019 2020 2021

Recent News

Ryder surges on $4.4 billion takeover offer from HG Vora | AJOT.COM
05/15/2022

The hedge fund offered $86 in cash for each Ryder share it doesn't already own, a 20% premium to Thursday's closing price.

ajot.com

Ryder (R) Stock Jumps on $4.4 Billion Takeover Offer From HG Vora Capital - Bloomberg
05/14/2022

Hedge fund's unsolicited proposal represents a 20% premium · Trucking firm to review bid with financial, legal advisers.

Bloomberg

Ryder Gets $4.4 Billion Takeover Offer From HG Vora | Transport Topics
05/13/2022

The hedge fund offered $86 in cash for each Ryder share it doesn't already own, a 20% premium to May 12's closing price.

ttnews.com

Activist Investor Seeks Ryder Buyout in $4.4 Billion Deal
05/13/2022

Activist investor HG Vora Capital Management is offering to acquire Ryder System in a $4.4 billion deal that would take the fleet management and supply-chain operator private.

Wall Street Journal

Hedge funds hit out at William Hill over disclosure around takeover
03/30/2021

Since the deal valuing William Hill at 272p per share was agreed, gambling stocks have risen on US growth and an uptick in online betting during lockdown © REUTERS

Financial Times


Private Funds Structure

Fund Type Count GAV
Hedge Fund 3 $8,140,559,015
Private Equity Fund 2 $1,434,289,359

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Top Holdings

Stock Ticker Stock Name $ Position % Position $ Change # Change
31847R102 FIRST AMERN FINL CORP $523,400 21.00% 14.00% 0.00%
783549108 RYDER SYS INC $422,029 17.00% 11.00% 0.00%
707569109 PENN NATL GAMING INC $304,425 12.00% 48.00% 37.00%
12769G100 CAESARS ENTERTAINMENT INC NE $249,600 10.00% 29.00% 0.00%
88337F105 THE ODP CORP $227,700 9.00% 30.00% 0.00%
103304101 BOYD GAMING CORP $218,120 9.00% -8.00% -20.00%
62482R107 MR COOPER GROUP INC $138,449 6.00% -1.00% 0.00%
78462F953 SPDR S&P 500 ETF TR (PUT) $152,972 6.00%
N70544106 PLAYA HOTELS & RESORTS NV $65,300 3.00% 73.00% 54.00%
05875B106 BALLYS CORPORATION $62,985 3.00% -20.00% -19.00%

Brochure Summary

Overview

Description HG Vora commenced operations in April 2009. We were established to provide investment management services primarily to pooled investment vehicles. Our principal owner is Parag Vora (the “Principal”). Types of Advisory Services We are an investment management firm focused on event driven and value oriented strategies. We invest primarily in actively traded debt and equity instruments on a long and short basis. We also invest in less liquid opportunities for certain clients. We currently provide discretionary investment advisory services to nine pooled investment vehicles (each, a “Fund” and collectively, the “Funds”). The Funds include:
• HG Vora Special Opportunities Fund LP, a Delaware limited partnership (the “Special Opportunities Onshore Feeder”);
• HG Vora Special Opportunities Fund, Ltd., a Cayman Islands exempted company (the “Special Opportunities Offshore Feeder”, and together with the Special Opportunities Onshore Feeder, the “Special Opportunities Feeders”);
• HG Vora Special Opportunities Master Fund, Ltd., a Cayman Islands exempted company (the “Special Opportunities Master Fund”, and collectively with the Special Opportunities Feeders, the “Special Opportunities Fund”), which serves as the master fund with an actively managed portfolio into which the Special Opportunities Offshore Feeder invests all of its investable assets, and the Special Opportunities Onshore Feeder invests substantially all of its assets;
• HG Vora Opportunistic Capital Fund LP, a Delaware limited partnership (the “Opportunistic Capital Onshore Feeder”);
• HG Vora Opportunistic Capital Fund (Cayman) LP, a Cayman Islands exempted limited partnership (the “Opportunistic Capital Offshore Feeder”, and together with the Opportunistic Capital Onshore Feeder, the “Opportunistic Capital Feeders”);
• HG Vora Opportunistic Capital Master Fund LP, a Cayman Islands exempted limited partnership (the “Opportunistic Capital Master Fund”, and collectively with the Opportunistic Capital Feeders, the “Opportunistic Capital Fund”), which serves as the master fund with a managed portfolio into which the Opportunistic Capital Feeders invest all of their respective investable assets;
• Downriver Series LP, a Delaware series limited partnership (the “Downriver Onshore Feeder”);
• Downriver SPC Ltd., a Cayman Islands exempted segregated portfolio company (the “Downriver Offshore Feeder”, and together with the Downriver Onshore Feeder, the “Downriver Feeders”); and
• Downriver Master Fund SPC Ltd., a Cayman Islands exempted segregated portfolio company (the “Downriver Master Fund”, and collectively with the Downriver Feeders, the “Downriver Fund”), which serves as the master fund with segregated portfolios comprising managed portfolios into which the corresponding series of the Downriver Onshore Feeder and the corresponding segregated portfolio of the Downriver Offshore Feeder invest all of their respective investable
assets. The General Partner of the Special Opportunities Onshore Feeder is HG Vora (GP) LLC (the “Special Opportunities GP”), the General Partner of the Downriver Onshore Feeder is Downriver (GP) LLC (the “Downriver GP”), and the General Partner of each entity in the Opportunistic Capital Fund is HG Vora Opportunistic Capital (GP) LLC (the “Opportunistic Capital GP”). The Downriver Fund is organized as a segregated portfolio platform through which investors will be offered the opportunity to participate in particular co-investment and/or special-situation opportunities. Each of the Downriver Feeders creates a separate series of interests or a segregated portfolio of shares, as applicable, for each investment opportunity, and these series and segregated portfolios invest all of their investable assets in a corresponding segregated portfolio of the Downriver Master Fund. The Downriver Feeders have currently offered one series of interests/shares (Downriver Series LP – Portfolio A and Downriver SPC Ltd., for and on behalf of its Segregated Portfolio A) corresponding to one segregated portfolio of the Downriver Master Fund (collectively, “Downriver Series A”). When the Downriver Fund offers additional segregated portfolios, each such segregated portfolio will be treated as a separate private fund client. All investment portfolios are managed in accordance with each respective private fund client’s confidential private offering memorandum and/or confidential explanatory memorandum and memorandum and articles of associated or limited partnership agreement, as applicable (“Offering Documents”). HG Vora does not tailor advisory services to the individual or particular needs of the investors in the Funds. Information about the Funds, including their investment objectives and strategies, is set forth in their respective Offering Documents. We have broad investment authority with respect to the Funds and since we do not provide individualized advice to the Funds’ investors, such investors should consider whether the investment objectives of the Funds are in line with their individual objectives and risk tolerance prior to investment. We also provide investment advisory services to separately managed accounts (the “Managed Accounts”). These advisory services are tailored based on each individual client’s needs pursuant to a written investment management agreement, which may contain restrictions on our ability to invest in certain securities or types of securities. As used herein, the term “client” generally refers to each Fund and each beneficial owner of a Managed Account. Wrap Fee Programs We do not participate in any wrap fee program. Assets Under Discretionary and Non-Discretionary Management As of September 30, 2019, we have regulatory assets under management managed on a discretionary basis of approximately $6,861,303,559. As of September 30, 2019, we have regulatory assets under management managed on a non-discretionary basis of approximately $354,621,896.