Caravan Capital Management LLC is an investment advisor registered with the United States Securities and Exchange Commission.  Caravan Capital Management LLC cannot transact business in a state unless appropriately registered or excluded from such registration.  Registration as an investment advisor does not imply a certain level of skill or training. 

Any material or information contained herein is not an offer to sell or to purchase securities, nor a solicitation of an offer to sell or to purchase securities.  No offer or solicitation of a security or investment product will be made without the delivery of an offering memorandum, subscription agreement, and other required documents.  Before making an investment decision, potential investors are advised to carefully read the offering memorandum, the limited partnership agreement, the subscription documents and all other related documents and to consult with their legal, financial, and tax advisors.  

© 2020 by Caravan Capital Management LLC

MIRI Activist Strategy

The MIRI – Market Interface Relational Investing - Strategy is focused on uncovering strong businesses that in our view are undervalued because of deficiencies in terms of reporting, investor relations, or corporate governance – but which are fixable.  We identify management teams and owners that we believe may be willing to implement our friendly recommendations to improve in these areas.  We make specific recommendations intended to increase the quantity and quality of public disclosures, to communicate clearly with market participants, including professional foreign investors, and to affirm alignment of interest with minority shareholders.  This approach has been an important part of the Firm's investment strategies since inception of the Firm.  The MIRI Activist Strategy is run as a concentrated portfolio focused on what we view as undervalued companies with upside potential that can be unlocked through the Firm's activism.  The MIRI Strategy is employed wherever this type of inefficiency is uncovered, generally targeting the frontier and smaller capitalization emerging markets.