Spitfire Capital provides investment advisory services, primarily investing in small and mid-capitalization U.S. equities. Spitfire Capital does not tailor its investment advisory services to the individual needs of clients. Spitfire Capital serves as the exclusive investment advisor to The Spitfire Fund L.P. and also provides investment advisory services to separately managed accounts that are managed side by side with the Fund and invest in the same portfolio of securities as the Fund.
Fee Structure
Portfolio-Based Fees (Flat)
| Portfolio Value | Annual Fee |
|---|---|
| Any | 1.50% |
In addition to the management fee, Spitfire Capital typically charges a performance-based fee equal to 20% of the annual net capital appreciation of the separate account, including both realized and unrealized gains and losses. The performance-based fee is only charged to the extent that the annual net capital appreciation exceeds cumulative losses previously allocated to the separate account for earlier periods that have not been recovered.