Arbiter Partners

Arbiter Partners Capital Management, LLC, founded in January 2007, is an investment manager specializing in multiple funds that focus on equities, fixed income, and derivatives with long/short strategies. The firm aims to achieve long-term capital appreciation through global investments, including ETFs, closed-end mutual funds, and private placements. As of January 1, 2025, the advised funds had approximately $366 million under management, with an additional $130 million managed through separately managed accounts. The firm, led by Paul J. Isaac, offers advisory services to high net-worth individuals, family offices, and charitable trusts, with a minimum initial investor account size of $1 million for funds and $25 million for managed accounts. Arbiter Partners charges management fees ranging from 0.35% to 1% and performance allocations of 12% to 20% above a high watermark for new investors. The firm operates on a discretionary basis and does not participate in wrap fee programs. Investment strategies include long-term horizon investments, selective use of derivatives, and a focus on downside valuation. Arbiter Partners follows a code of ethics, engages in best execution practices, and provides regular account reviews and reporting to clients. The firm does not accept client instructions for directing brokerage transactions and has a comprehensive proxy voting policy in place. Clients can contact the firm for information on how their securities are voted. Arbiter Partners confirms its financial stability and compliance with regulatory requirements.