Activist West Face Capital’s Partners, Investments, AUM and More

4. Gran Tierra Energy Inc (NYSEMKT:GTE)

Gran Tierra Energy Inc (NYSEMKT:GTE) is represented in West Face’s equity portfolio by a $16.64 million stake that contains 7.43 million shares as of the end of the second quarter; the fund trimmed its exposure to the company by 1.85 million shares between April and June. West Face added Gran Tierra Energy Inc (NYSEMKT:GTE) to its equity portfolio during the first quarter of 2015 and in April the same year it reported having sent a letter to the company in which it blamed the board in the value destruction that the company was facing from its high-risk ventures outside of Colombia. The investor also expressed its intention to nominate six directors to the company’s board and outlined a strategy to improve its position. Among the suggestions were refocusing on Gran Tierra’s core Colombian properties, halt spending in ventures in Peru and Brazil, and change the company’s management and board of directors. A month later, West Face and Grand Tierra Energy Inc (NYSEMKT) signed an agreement under the terms of which, the company’s board was increased and Gary S. Guidry was appointed as President and CEO. The company’s stock advanced following West Face’s involvement in April and May, but has lost ground since then amid dwindling revenue and missed financial estimates.