Liongate Capital Management was a global investment management firm, focused on creating and managing fund of hedge fund investments for institutional and private investors. Liongate was founded in 2003 by Randall Dillard, Jeff Holland and Ben Funk, and was closed in 2015. Prior to its closure it managed a range of funds of hedge funds, and some bespoke multi-strategy funds, in both commingled funds and tailored, single client portfolios.[1]
History
The firm, which at it peak managed over USD 3 billion with an additional USD 4 billion in assets under advisory, had a global reach with offices in London, New York, Zurich, Dubai, Malta and Mumbai. The Liongate partners sold the firm to Principal Financial Group in 2013 as the large US insurer and asset manager wanted a hedge fund research platform in order to quickly ramp up retail hedge fund distribution in the US.[2][3][4] During the 2008 financial crisis, when the majority of hedge fund's had large draw downs and gated its investor base caught out having invested in far too many illiquid strategies, the Liongate Multi-Strategy Fund performed well and had sufficient liquidity to allow its investors to withdraw funds.