Legacy Ridge Capital Partners Equity Fund I 2024 Annual Letter
Source: SeekingAlpha
2025-02-04 03:00:00 ET
Summary
- Our partnership returned 52.4% gross and 40.3% net in 2024, driven by strategic exits and concentrated investments.
- Exited Vistra position after significant gains; cautious about unreliable power demand estimates and shifting focus to supply-driven investment theses.
- Increased investment in US airlines due to signs of capacity discipline and improved industry economics; 15% of the portfolio now in airlines.
- Midstream energy remains stable, with cautious optimism about natural gas demand; maintaining a high cash position for potential volatility.
To December 31 st 2024 : | LRCP Equity Fund I Gross | LRCP Equity Fund I Net | S&P 500 | Russell 2000 | MSCI World Index |
Trailing 1-yr Total Return: | 52.4% | 40.3% | 25.0% | 11.5% | 21.6% |
Trailing 2-yr Total Return: | 108.0% | 80.1% | 57.8% | 30.4% | 50.5% |
Trailing 3-yr Total Return: | 134.0% | 98.7% | 29.2% | 3.7% | 23.9% |
Trailing 4-yr Total Return: | 231.9% | 163.1% | 66.3% | 19.0% | 51.6% |
Trailing 5-yr Total Return: | 267.0% | 186.8% | 96.9% | 42.8% | 76.6% |
Trailing 6-yr Total Return: | 276.2% | 193.9% | 158.9% | 79.2% | 126.3% |
Trailing 7-yr Total Return: | 261.9% | 182.8% | 147.5% | 57.4% | 110.6% |
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Legacy Ridge Capital Partners Equity Fund I 2024 Annual Letter
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