Friday, 6 March 2015
Last updated 2 hours ago
Feb 5 2010 | 11:16am ET
Virginia money manager Thompson Davis Asset Management is dipping its toe into hedge fund waters.
The eight-year-old firm launched its debut hedge fund last month with $2 million, HedgeFund.net reports. The firm, part of Richmond-based investment research shop Thompson Davis & Co., had previously focused on private wealth management, but said client demand convinced it to launch the hedge fund.
That fund is a concentrated, long-biased equity long/short vehicle managed by firm co-founder William Davis and Harper Stephens. While the fund has no market capitalization restrictions, Davis told HFN that it will invest primarily in small- and mid-cap companies.
“That is where our growth parameter is,” he explained.
The Thompson David hedge fund charges 2% for management and 20% for performance. There is a $250,000 minimum investment, and the fund has a capacity of between $250 million and $300 million.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…