Lamoreaux Launches Second Hedge Fund, Targets Institutional Investors

Feb 19 2007 | 9:37am ET

Lamoreaux Capital Management has recently launched its second fund, a long/short equity vehicle that invests in best-of-breed growth companies. The new offering, which is up 2.6% net of fees for January, is being managed by Tom Wyman, who joined the Sausalito, Calif.-based firm in November of last year to create a fund that would be attractive to institutional investors.

The Lamoreaux Premiere Growth Fund was launched on Jan. 3 with $5 million in assets under management. It is similar to the firm’s first fund, which now has $85 million in AUM, but it has greater market cap diversification, lower stock and sector weights, monthly reporting and shorter lock-ups.

The goal of the new fund, like the existing Lamoreaux Partners fund, is to double investor’s capital every three to five years, net of fees.

The firm’s existing fund, Lamoreaux Partners, has compounded at 17%, net of fees, for over thirty years vs. 10% for the S&P 500, before dividends. 

The new offering charges fees of 2% for management and 20% for performance. Legal services are being provided by Shartsis Friese, the auditor is Rothstein, Kass & Co, the fund administrator is Price Meadows, and the prime broker is Bank of America. 

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