Small-cap CEOs must seamlessly manage complex capital markets, corporate finance, and corporate governance issues which they, their boards, and their advisors view one way – and institutional investors often view very differently.
Even long-tenured small-cap CEOs can struggle in this regard; for less experienced small-cap CEOs, it’s often a baptism by fire. Unfortunately, there is no playbook for small-cap CEOs to follow.
Historically, small-cap companies have hired all kinds of different service providers to help them bridge the buy-side divide. But the guidance is often self-limiting – the advisors have never been institutional investors.
Most small-cap CEOs and boards receive little more than educated guesses from advisors about how institutional investors will react to seminal capital markets, corporate finance, and corporate governance choices.
Third Creek Advisors, LLC partners with CEOs to help them master the small-cap issues institutional investors care most about. Third Creek is uniquely suited to provide advice to its clients that they can’t get anywhere else in the small-cap ecosystem. Its clients don’t get educated guesses; they get clear, actionable answers – from a former small-cap fund manager.
Prior to founding Third Creek Advisors, Adam J. Epstein co-managed a prominent special situation hedge fund that invested in more than 500 small-cap financings. He is the author of the definitive resource for small-cap CEOs and boards, The Perfect Corporate Board: A Handbook for Mastering the Unique Challenges of Small-Cap Companies (New York: McGraw Hill, 2012). Mr. Epstein writes the only small-cap focused corporate governance magazine column in the country (for industry-leading Directorship magazine), he is on the teaching faculty of the National Association of Corporate Directors, and he is a key contributor to Nasdaq’s Amplify small-cap content initiative.