Investment firm Pelham's small cap fund has increased its ownership in Miami-based land-based salmon farmer Atlantic Sapphire, giving it an ownership stake of just over 10 percent.

The Pelham Long/Short Small Cap Master Fund acquired 7.2 million shares in a private placement at a price per share of NOK 20.50 (€2.04/$2.07).

The Pelham Small Cap Fund now owns 14 million shares, which represents 10.02 percent of shares and voting rights in Atlantic Sapphire. In aggregate, Pelham Capital controls over 15.4 million shares outstanding, with a voting right of 11.03 percent of the company.

Pelham Capital has struggled in 2022. Through May, the company's funds hit their lowest levels since the group's inception 15 years ago, according to Bloomberg.