PAR Capital Management manages investments exclusively for PAR Investment Partners, L.P., a private investment partnership. The firm's investment approach involves fundamental security analysis, focusing on research into companies' capital structure, financial statements, and management. The partnership's investment objective is to maximize after-tax capital appreciation by assuming high levels of risk in an aggressively managed portfolio.
PAR Capital Management does not directly manage investments for individual investors. They manage a private investment partnership, and fees are charged to the partnership's investors, not individual clients.