Stride Capital Group Advances Investment in LRV Capital
February 27, 2018
NEW YORK--(BUSINESS WIRE)--Following its original seed investment in LRV Capital Management, LLC (“LRV”), Stride Capital Group, LP (“Stride”) today announced the successful transition of the LRV team to Lazard Asset Management LLC (“LAM”). Stride’s capital and substantially all client assets previously managed by LRV have transitioned to LAM, as did the team’s track record.
Stride makes private equity investments in asset management firms, investing capital in their funds to benefit from the risk and liquidity of the public markets. The firm completed its first investment in 2012 when it partnered with the founders of LRV to create their international long-short and long-only funds.
“Stride played an instrumental role in the creation and evolution of LRV,” said Mark Rooney, one of LRV’s founding partners and now Portfolio Manager/Analyst at LAM. “In addition to providing stable capital, Stride served as a trusted advisor, sounding board, and experience-based reference.”
With the transition complete, the LRV investment team joined LAM as members of the International Equity Value team, where they continue to run a value-based investment approach designed to identify and exploit company-specific inflection points, investing in companies listed outside of the U.S. The team will also now benefit from LAM’s research-based culture and institutional quality infrastructure. As of December 31, 2017, LAM has $222 billion of assets under management, including approximately $54 billion in international equity strategies.
“Managing international equities has been a key investment focus for Lazard and our clients for more than thirty years,” said John Reinsberg, Deputy Chairman of Lazard Asset Management. “We are pleased to expand our international equity platform to incorporate this new highly differentiated value strategy, which complements our existing line-up.”
“With the LRV team joining Lazard Asset Management, Stride has succeeded in helping position the team for further success as part of one of the leading global asset management platforms,” said Don Rogers, Founder and Managing Partner of Stride Capital Group. “We continue to believe that the asset management industry is in need of new teams and strategies. By persistently pursuing unique opportunities, partnering with talented investors, and serving as an active partner through the entire lifecycle of firms we back, Stride can continue to play an essential role in bringing new valuable and differentiated investment products to market.”