| Salida Capital LP | |
| Location City: | Toronto, Ontario |
| Location Country: | Canada |
| Key People: | Brad White, Danny Guy, David Fleck |
| Fate: | closed its funds in 2013 |
| Industry: | Financial services |
Salida Capital was a Canadian hedge fund, private equity and private wealth management firm, based in Toronto, Ontario, and founded in 2001.[1] Salida's assets under management peaked in early 2008 at CAD $1.3 billion and then declined to approximately $300 million following the 2008 financial crisis.[2] The firm struggled for several years before deciding to wind-down the two remaining funds in 2013, and deregistering with the Ontario Securities Commission in September 2013.
The company paid US$1.68 million in 2009 for some of its executives to dine with Warren Buffett, CEO of Berkshire Hathaway.[3] In April 2010, the company announced plans to launch a private equity fund, which at the time had C$100 million in seed investment committed so far.[4] Like many financial portfolios during the financial crisis of 2007–2010, Salida's hedge fund declined in value—it fell 66.5% in 2008—but it recovered a portion the following year by rising 83% (around 40% of its lost value).[5] The firm subsequently suffered further losses, with the Salida Strategic Growth Fund losing a large portion of its capital before deciding to terminate the fund.[6]