Our History
Started small, shaped by challenges, defined by outcomes.
From Two Desks to Today
Founded in 2014 with two desks and a single mission. Today, WSD Capital Management is a global event-driven investment firm that commits capital and time where change is inevitable.
We are based far from the global financial echo chambers, and that distance matters. It keeps us clear-eyed about companies and markets, less swayed by groupthink, and more focused on questioning what others take for granted.
Our work is concrete. When you transform outstanding assets into outstanding companies, the cost of capital falls. Productivity rises. Margins expand. Over time, valuations follow. These are the mechanics that drive lasting value.
Our ethos is simple: “growth through fortitude”, because when change becomes inevitable, major challenges demand the resolve to act when others look away.
Milestones
2014First Activist in Turkey
WSD Capital Management is founded to invest where business dynamics create information barriers most international capital won’t cross.2015Akfen Challenge
We broke convention by publicly challenging Akfen Holding, which for years had trailed both peers and the market.2016Akfen’s 134% Turnaround
Following our engagement, Akfen Holding delivered a +134% TSR, outpacing the BIST 100 by 135 points.2017Origins Don’t Dictate Reach
We became the first Turkey-based investment team with a global mandate, expanding abroad to prove that stewardship knows no borders.2018The £64 Billion Short
After BAT’s acquisition of RAI, shares fell 33%, erasing £46 billion in value — a deal now cited among the most overpriced in market history.TodayWhere We Stand Now
WSD Capital Management is a global event-driven investment firm that uses activism as a tool, not an identity.
Also Explore
Who We Are
An investment firm that commits capital where change is inevitable.
What We Do
We make strong assets stronger by tackling what others ignore.
When We Act
We work with leaders when we can, around them when we must.