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New Firm Targets Emerging Managers

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SAN FRANCISCO (–Three investment executives formed a new investment firm that will focus exclusively on identifying and investing in emerging managers.

The firm, Bivium Capital Partners LLC, also formed a strategic partnership with S3 Asset Management, New York, a recently started hedge fund services firm run by Robert S. Sloan Previous HedgeWorld Story.

Bivium is led by Lester E. Hollis, president and chief executive, Lawrence P. Bancroft, managing director and chief investment strategist, and M. Nancy Hollis, managing director and also Mr. Hollis’ wife. Richard Nichols is a managing director.

The firm’s executives believe that emerging managers do not get enough attention and can offer better returns than larger firms in particular investment segments, such as small-capitalization equities, international equities, hedge funds and private equity, Mr. Hollis said.

Mr. Hollis, who is responsible for the business side of Bivium, previously founded Hollis Wealth Management, which now is a part of Bivium and is run separately, he said. Mr. Bancroft, who is in charge of product development, portfolio construction and manager search and due diligence, previously worked for Goldman Sachs & Co. in investment management, according to a Bivium statement.

Ms. Hollis is responsible for asset allocation, investment policy and due diligence, while Mr. Nichols is responsible for the overall direction of the firm with a focus on legal matters and operations.

Bivium currently is marketing a long-only small-capitalization equity fund of funds but will follow that with a hedge fund, which is where the S3 relationship will be most important, Mr. Hollis said. “It’s a coup for Bivium” to link with that firm, he said. S3 will assist with prime brokerage, administration and accounting, while Derivatives Portfolio Management, Somerset, N.J., a strategic partner of S3, will provide daily reconciliation reports and net asset values.

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