A focused, value equity investing team just started up their own shop and launched their first mutual fund.
Today Tim Philosophos
, partner and director of marketing at Chicago-based Falcon Capital Management
the release of Falcon's debut fund, the Falcon Focus SCV Fund
(FALCX). The Falcon team set up shop in February and is offering the strategy in I shares as well as in separately managed account form.
Philosophos says Falcon chief investment officer and PM Kevin Silverman
has been managing this small cap value strategy in SMA format for 14 years, most recently at another Chitown shop, Dearborn Partners. The team left Dearborn and started up Falcon, partnering up with UMB
as the administrator for the new fund.
"We have the ability to go out and find best-of-breed providers as an independent and assemble a team that really allows us to offer a suite of services associated with the fund that are really best practices," Philosophos tells MFWire
. "We like the freedom of being able to do that."
Prior to Falcon, the team had been working with institutional clients. The SMA version of the strategy had a $1-million minimum, yet they "had a lot of demand" for making the strategy more accessible. The mutual fund is available exclusively in I shares for now, and those shares require a minimum investment of $10,000.
"We had a lot of demand," Philosophos says. "A lot of people were telling us they wanted it."
And this may just be the beginning of Falcon's mutual fund family.
"We do have other strategies with track records that we are considering bringing out to a broader audience," Philosophos says. "It's our intent to have a family of products."
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