Black Bear Value Partners

Overview

Black Bear Value Partners is an alternative asset management firm that employs a long-term, fundamental, and value-oriented investment approach. The firm is managed by Adam Schwartz, who has over 21 years of buy-side investment experience across various themes, including equities, structured products, corporate credit, and capital structure arbitrage. Prior to founding Black Bear Value Partners, Adam served as a Director and senior member of the investment team at Fir Tree Partners, a $13 billion peak-AUM multi-strategy investment manager, from 2007 to 2015. He also held positions at LibertyView Capital Management and Kore Advisors. Adam holds a BS and MS with a concentration in Accounting from Washington University in St. Louis. The firm's investment strategy is opportunistic, concentrated, and fundamentally value-driven. Black Bear Value Partners focuses on preserving capital and achieving long-term capital appreciation by emphasizing the margin of safety in investments. The firm views risk as the probability of permanent loss of capital, rather than temporary market price fluctuations. It actively seeks undervalued and concentrated investments in the stock and bond markets that can be purchased at discounts to their intrinsic or recovery value. Additionally, Black Bear Value Partners employs a tax-efficient approach, given its long-term investment horizon. Black Bear Value Partners has a track record of successfully originating and closing over $28 billion in commercial real estate financing nationwide. The firm's principals have extensive experience in owning, developing, financing, and operating real estate across multiple asset classes. Their core philosophy centers on understanding clients' real estate needs, obtaining the most competitive and bespoke capital solutions, and ensuring a timely and cost-effective closing process. The firm's affiliation with Black Bear Asset Management allows for a more concentrated approach to the capital markets advisory space from an owner/operator perspective, enabling the team to create optimal and cost-effective capital markets solutions for clients.

Investment Focus

• Long-term investment horizon
• Focus on undervalued and concentrated investments
• Emphasis on margin of safety
• Tax-efficient investment approach

Portfolio Companies