Investcorp-Tages Anchors Hickory Lane Capital Management Launch
Hickory Lane Capital Management LP announced today that it has launched a long/short equity strategy with $100mn in AUM, anchored by Investcorp-Tages. The capital base also includes commitments from a global consulting firm, family offices, fund of funds, and peer fund managers, according to the firm.
Hickory Lane launched in July 2020 by Founder & Chief Investment Officer Joshua Pearl and is a fundamentals-based equity asset manager that employs a multi-disciplinary approach in seeking to generate strong risk-adjusted returns on long and short positions. Prior to founding Hickory Lane, Pearl was a Managing Director and Partner at Brahman Capital. Previously, he structured high yield financings, leveraged buyouts, and restructurings as a Director at UBS Investment Bank. Prior to UBS, he was an investment banker at Moelis & Company and Deutsche Bank. Pearl is also the co-author of “Investment Banking: Valuation, LBOs, M&A, and IPOs” and “The Little Book of Investing Like the Pros”, which together have sold over 250,000 copies and are used in 200 universities worldwide.
Hickory Lane Capital's strategy is centered on long-term bottom-up investing, top-down analysis, and 'rigorous' risk management. Hickory Lane primarily invests in the technology/media/telecommunications (TMT), industrials, and consumer sectors, as well as special situations. The firm approaches investing from a balance sheet perspective, ensuring an understanding of how the capital structure affects equity value. Hickory Lane uses short positions in seeking to hedge idiosyncratic risks directly related to the long portfolio.
Pearl said: “We are embarking on this exciting chapter during an undoubtedly unique time. The pandemic has dislocated many of our sector focus areas, thereby creating attractive investment opportunities. The Hickory Lane team and I are excited and grateful to have launched with Investcorp-Tages as our partner. Simply put, we could not have succeeded without the sage guidance, support, and professionalism of their entire team. Investcorp-Tages’ commitment allowed us to recruit top talent, select best-in-class service providers, and raise capital during a highly volatile period.”
Mark de Klerk, Head of Seeding at Investcorp-Tages, said: “We are thrilled to partner with Josh and the talented team at Hickory Lane, who have deep expertise in fundamental equity analysis across the TMT, industrial, and consumer sectors. We believe there are many opportunities to capitalize on mispriced assets in the market and that Hickory Lane is well-positioned to enhance value with its robust investment approach.”
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