Investment Partnerships

Oppenheimer + Close, LLC manages three domestic investment partnerships. The common theme of these partnerships is proprietary, bottom-up research, with a value investing discipline. Within this broad structure, each partnership is managed with a distinct strategy. We also offer an offshore vehicle for U.S. tax-exempt or non-U.S. investors that closely tracks the combined performance of all three partnerships.

In the late ’80s we were finding exceptional value in small and/or thinly-traded securities. The difficult task of equitably allocating the few shares we were able to purchase on a daily basis suggested the benefit of having a pooled vehicle. In 1989 the P. Oppenheimer Investment Partnership was created to address this issue and offer our investors the opportunity to invest in thinly traded, small- and mid-cap securities.

Established in 1994, Oppenheimer-Spence was born of the idea that there are profound changes taking place in the financial services industry. This notion is perhaps more true today than ever. Recent changes in the regulatory and economic landscape have encouraged consolidation in the industry. Our partnership is designed to take advantage of opportunities that arise as a result of these changes.

The Oppenheimer-Close partnership maintains our value investing approach with a focus on larger capitalization companies in diverse industries. The long/short approach enables the partnership to benefit from investing in undervalued companies, and selling short the securities of inappropriately priced companies.

Our Bermuda-based investment vehicle mirrors the investments of the three domestic partnerships. It was formed to provide access to our strategies for non-U.S. investors and U.S. tax-exempt entities (IRA accounts and other ERISA qualified entities).