Randall Duncan "Randy" Smith (born 1942) is an American hedge fund manager, and the founder and chief of investments of Alden Global Capital. Smith is known as a pioneer of vulture capitalism, the purchase and dismantling of distressed firms.
Randall Duncan Smith
1942 (age 80–81)
|Education||Cornell University (BA)|
University of Pennsylvania (MBA)
|Relatives||Russ Smith (brother)|
Early life edit
Real estate edit
In 2002, together with his second wife Barbara (a Houston native), and his brother Jeffrey Smith, Randy Smith bought the historic 100-room 1924 Sam Houston Hotel, extensively remodelled it, and reopened it in 2005 as the Alden Hotel. In 2010, the ownership of the Alden Houston formally transferred to Northwood Investors. In 2012, Northwood sold the hotel to American Liberty Hospitality and Gentry Mills Capital and returned to its original name as The Sam Houston Hotel.
Alden Global Capital edit
Writing in The Atlantic, McKay Coppins has criticized Smith and Alden co-founder Heath Freeman, saying "no one has been more mercenary or less interested in pretending to care about their publications’ long-term health."
Personal life edit
He met his first wife Kathryn Smith, when both were Cornell students, and she earned a PhD in political science. They have a son, Caleb Smith, who was profiled in 2011 in the Dallas-based D Magazine, and a daughter. Kathryn Smith died of ovarian cancer.
He is married to Barbara Stovall Smith.
- Coppins, McKay (2021-10-14). "A Secretive Hedge Fund Is Gutting Newsrooms". The Atlantic. Retrieved 2021-10-18.
- "The Man Behind the Curtain, Part 1". Dfmworkers.org. 1 November 2017. Retrieved 12 April 2018.
- "Executive Profile: Randall Duncan Smith". Bloomberg LP. Retrieved 12 April 2018.
- "Vulture in distress". Nypost.com. 26 July 2012. Retrieved 12 April 2018.
- "Spire Realty's Caleb Smith: The Next Trammell Crow?". Dmagazine.com. 16 February 2011. Retrieved 12 April 2018.
- "Hotel Alden in Downtown Houston Acquired by Northwood Investors; Hans Schmitt Appointed General Manager and Managing Partner / January 2010". Hotel-online.com. Retrieved 26 November 2021.
- "Alden Houston hotel acquired by American Liberty Hospitality". Bizjournals.com. Retrieved 26 November 2021.
- Hofheinz, Darrell (August 8, 2013). "Beyond the Hedges: Another House Snapped up in Buying Spree". PalmBeachDailyNews.com. Retrieved 12 April 2018.
- Yoksoulian, Lois (June 2, 2021). "What does the Chicago Tribune sale mean for the future of newsrooms?". Illinois News Bureau. Retrieved June 2, 2021.
- Folkenflik, David (May 21, 2021). "'Vulture' Fund Alden Global, Known For Slashing Newsrooms, Buys Tribune Papers". NPR. Retrieved May 21, 2021.
- Jackson, David, and Gary Marx, "Opinion - Will The Chicago Tribune Be the Next Newspaper Picked to the Bone?" (op-ed), New York Times, January 19, 2020. Note: The writers were investigative reporters at The Chicago Tribune. Accessed January 20, 2020.
- Bauerlein, Monika (2020-05-15). ""News is just like waste management."". Mother Jones. Retrieved 2020-06-02.
- Izadi, Elahe; Ellison, Sarah. "The battle for Tribune: Inside the campaign to find new owners for a legendary group of newspapers". Washington Post. ISSN 0190-8286. Retrieved 2021-04-06.
- Cowan, Alison Leigh (1991-03-29). "COMPANY NEWS; Bottom Fishing With R.D. Smith". The New York Times. ISSN 0362-4331. Retrieved 2021-10-25.
- "Honolulu Star-Bulletin". archives.starbulletin.com. Retrieved 2021-10-25.