X-Cap seeks to find the most undervalued securities in the world utilizing a completely unconstrained approach.

The partnership maintains a long-term investment horizon while investing across industries and geographies, and throughout the capital structure. The partnership’s investments will often be concentrated in small-cap, special situations.

The partnership was launched by Stephen Gustin in 2020. Stephen began his career in New York at J.P. Morgan in their Mergers & Acquisitions group. After J.P. Morgan, he joined Silver Point Capital, a $10bn+ distressed debt hedge fund, based in Greenwich, Connecticut.