A group of industry veterans is quietly building a top-performing institutional investment management firm in Richmond, Va.
The firm is The Capital Management Corp., and the team includes Kenneth L. Walker, James F. "Jim" Jollay and Scott McFadden. All three are veterans of Capitoline Investment Services, one of the first bank investment management subsidiaries; it disappeared as in independent entity in the mid-1990s.
The three have a combined 101 years of experience in the institutional investment management business. Add in Beth Long, portfolio manager, and it leaps to 131 years.
Mr. Jollay said The Capital Management Corp. was started in the 1970s for high-net-worth individuals. The firm now pursues institutional business and has grown to $240 million in assets.
The firm's all-cap growth composite beat the Russell 3000 Growth index by substantial margins over one-, three-, five- and 10-year periods through Sept. 30. For example, the composite's five-year annualized return was 12.31%, vs. -6.35% for the index.
But Capital Management is not an old folks' home. The younger generation is headed by Scott Redmond, a portfolio manager and analyst, a veteran of Godsey & Gibb Associates, and GE Capital Corp., said Mr. Jollay.