Our History | WSD Capital Management

Our History

Pioneering bold, new approaches to drive change.


Founded in 2014 with two desks and a singular vision that would prove the advent of a unique position in the investment profession, WSD Capital Management is now a global investment firm that has held to its original commitment to value investing, challenging convention, passion for competitiveness and the pursuit of organizational excellence.
  • 2014WSD Capital Management founded

    Ertan Enginalev, a German-born Turkish-American investor and expert in mergers and acquisitions, establishes Turkey’s first activist investor and global investment firm — the result of a handshake deal six years in the making.
  • 2015WSD Capital Management launches first public shareholder activist campaign in Turkey

    Despite favorable business characteristics and compelling growth prospects, Akfen Holding — one of the largest industrial conglomerates in Turkey — underperformed both its peer group and the broader stock market since its IPO in 2010.
  • 2015WSD Capital Management expands its international footprint

    The firm’s global investment platform is further developed with investments in German-speaking European territories, the United Kingdom, Canada, and the United States.
  • 2016WSD Capital Management portfolio company Akfen Holding completes buyout

    Akfen Holding is taken private. The company generated a TSR of 134 percent following the publication of WSD Capital Management’s engagement, outperforming the BIST 100 Index by 135 percentage points despite challenging market conditions.
  • 2017WSD Capital Management launches Benevolent Hostility Review

    Benevolent Hostility Review serves as a platform for original articles and podcasts by the firm’s investment team, highlighting issues of importance to business leaders and decision makers.

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