Two former portfolio managers from Insight Capital Research & Management have launched a hedge fund firm, Diablo Vista Capital Partners.
The co-founders, Lance Swanson and Lee Molendyk, both will have the titles of managing partner and portfolio manager. The new firm is based in Concord, Calif.
At Insight, Messrs. Swanson and Molendyk oversaw the small-cap growth, small/midcap growth, all-cap growth and concentrated growth portfolio team.
Mr. Swanson said in an interview that the duo opened a hedge fund and not a separately managed account because the hedge fund structure and addition of short positions will allow them to improve on returns. The firm will use bottom-up in-depth fundamental analysis to select equities for long and short investments in all economic sectors, Mr. Swanson said.
“We have a strong entrepreneurial and competitive spirit and have always dreamed of starting our own firm,” Mr. Molendyk said in an interview. “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.”
At Insight, Randall Yurchak rejoined the firm as portfolio manager for the all-cap growth portfolio and co-portfolio manager for the small-cap growth, concentrated growth and small/midcap growth portfolios, said Jim Collins, Insight’s CEO and chief investment officer,
Mike Ashton become co-portfolio manager for the small-cap growth, concentrated growth and small/midcap growth portfolio.
Further information about Messrs. Yurchak and Ashton could not be learned by press time.