Alden Global Capital

United States · Financial Services

Alden Global Capital is a hedge fund and investment manager based in New York City, founded in 2007 by Randall D. Smith. The firm operates as a division of Smith Management LLC and is managed by Heath Freeman. Alden focuses on distressed assets, particularly in the media and real estate sectors, with a small team spread across offices in New York City, Los Angeles, and Dallas. In the media space, Alden operates through Digital First Media, managing a significant portfolio of U.S. newspapers, including the Chicago Tribune and Baltimore Sun. In real estate, the company, via Twenty Lake Holdings, acquires and redevelops properties, owning 2.3 million square feet across 29 states and expanding into transportation assets by purchasing Greyhound bus stations for redevelopment. Additionally, Alden manages a portfolio that includes investments in various companies.