Persimmon Capital Management, LP was founded in 1998 as a federally registered investment advisor with the mandate of delivering sophisticated wealth management solutions to high net worth investors, foundations, endowments, and mid-sized institutions. In 1999 and in parallel, Persimmon’s founder, Greg Horn, also founded ADVISORport, a manager research and financial services firm, now with over $100 billion in assets under administration (ADVISORport was sold to PFPC Worldwide, Inc., a PNC Financial Services Company, in October 2003).
While working together in ADVISORport’s research department in 2000, Persimmon’s partners began developing specific expertise structuring and managing a hedge fund of funds in order to better preserve investment capital during a time when the equity markets were beginning to erode. Persimmon’s wealth management clients provided the initial seed money for the launch of the Persimmon Absolute Return Fund in October 2001. By 2003, Persimmon began to offer the hedge fund of funds through the ADVISORport platform to other wealth management institutions and independent advisors.
Upon the completion of a two year management commitment to PFPC, which ended in December 2005, Persimmon’s partners transitioned the hedge fund of funds complex from PFPC/ADVISORport. Although the ownership of the funds changed at the beginning of 2006, the research and management team has remained constant since the inception of the Persimmon funds.
Our partners have a history of innovation and building successful businesses. In addition to Persimmon Capital Management, LP and ADVISORport, we previously built a nearly $1 billion multi-family office in Philadelphia, Pennsylvania and have recently launched AlphaHedge Capital Partners, LLC, a platform to deliver carefully selected long/short equity hedge fund strategies in a managed account offering Liquidity, Transparency and investor Control (see www.alphahedge.com). All partners have been instrumental in growing a start-up company and/or an entrepreneurial enterprise at some point in their careers and bring that creative energy to Persimmon to continue to enhance our investment process and our clients’ investment experience.
Lastly, our three member investment committee is uniquely rich with industry experience, possessing over sixty years of combined capital markets knowledge with over forty of those years dedicated specifically to the alternative investment arena, i.e. hedge funds.