Cordgrass Advisors' Special Purpose Vehicle Delivers a 46% Net Return for Investors

FORT WORTH, Texas, Oct. 12, 2021 -- Cordgrass Special Opportunity Fund I, LP ("CSOF"), a Special Purpose Vehicle with an underlying investment in Stamps.com ("STMP"), delivered a net return of 46%¹ to its investors in under 7 months following a bid by Thoma Bravo for all the shares of STMP.

Cordgrass Advisors, LLC ("Cordgrass"), led by portfolio manager and founder Tim Vestal, sponsored and managed CSOF. Mr. Vestal has followed STMP since 2015 and made his initial investment within his core strategy after confirming certain investment catalysts that he believed would ultimately be recognized by the market. 

Mr. Vestal established CSOF in April 2021 as a special purpose vehicle ("SPV"), a common structure used by investment managers to increase investment in an individual stock.  CSOF was well-timed after STMP experienced a 35% pull back from its peak price in August of 2020 and was also trading well below its peers.  "I wanted to give investors greater exposure to the stock that in my opinion had the right pieces in place to benefit from a long growth runway overlooked by the market," Mr. Vestal commented.  Mr. Vestal was not the only investor to recognize the opportunity.  Private equity firm Thoma Bravo made a bid to take STMP private in an all-cash stock tender transaction which closed on October 5, 2021, with investors receiving $330 per share.

About Cordgrass and Tim Vestal
Cordgrass is a Fort Worth, Texas-based investment adviser that focuses on customized solutions for its individual and institutional clients.

Mr. Vestal has over 18 years of investment experience including investment banking and portfolio management. Cordgrass Advisors was established in 2020 with a focus on managing a global concentrated long/short equity strategy for investors.  For additional information please contact Cordgrass Advisors at 817-672-8250 or [email protected].

¹ This return is net of all fees and expenses, is estimated and unaudited.  Any actual return cannot be used to predict nor does it guarantee future performance.

Media Contact:
Tim Vestal
Cordgrass Advisors, LLC
817-672-8250

SOURCE Cordgrass Advisors