Va. Private Money Manager Goes Public With Hedge Fund

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, 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.

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