Two growth specialists from Insight Capital Research & Management have launched their own hedge fund.
Diablo Vista Capital Partners is the brainchild of Lance Swanson and Lee Molendyk. The two will share the titles of managing partner and portfolio manager at the new Concord, Calif.-based equity long/short firm.
"We have a strong entrepreneurial and competitive spirit, and have always dreamed of starting our own firm," Molendyk told Pensions & Investments. "With complete control of the company's operations, we will be able to maintain the firm's focus on providing the absolute best returns possible to clients."
Swanson added that he and his partner had decided to launch a hedge fund, rather than a managed account platform, because the former structure and freedom to sell short will improve returns.
At Insight Capital, which manages nearly $600 million for institutional and high net-worth investors, Swanson and Molendyk managed small-cap, small- and mid-cap, all-cap and concentrated growth portfolios.