Now running the $684 million in assets Evermore Global Value Fund, Marcus hunts for breakups, restructurings and spinoffs, combing the world for misunderstood or underperforming companies where positive reorganization is afoot. Presently, 75% of the Evermore Global fund is in Europe, where turnarounds abound as conglomerates decide to simplify. "We're finding more and more to do in Europe at these big conglomerates are breaking up, refocusing, streamlining," says Marcus. Marcus sees CEO John Elkann fostering growing value in all Exor areas, particularly Fiat, which is spinning its auto parts division Magneti Marelli. Of the company's current discount to NAV, Marcus counters, "We don't care if the discount doesn't go away as long as they keep compounding value."

Source: Forbes September 30, 2018 13:41 UTC