Waislitz to launch activist fund called Thorney Opportunities PLANS by Alex Waislitz's Thorney Investments to manage public money for the first time look have been confirmed. The board of listed cash-box Wentworth Holdings has endorsed Mr Waislitz's proposal to recapitalise and rebrand that group as an activist shareholder in small and mid-cap ASX-listed companies to be called Thorney Opportunities. Thorney Investments will anchor a $50 million capital raising by the activist fund with a $15m investment. A further $35m will come from other investors. Thorney Investments is a private investment company owned by Mr Waislitz and his wife, Heloise, one of the heirs to the Pratt family fortune. Its assets, which include listed company holdings, cash and property, have been valued at more than $1 billion. Thorney has long been a backer of market darling Monadelphous and has successfully invested in a number of turnaround stories, such as recruitment and hiring firm Skilled Group. But it has also made some poor investments, such as in the collapsed contracting group Hastie and redlight and speed camera operator Redflex.