Hedge Funds

San Francisco manager starts high-performing small-cap portfolio


A small-cap specialist formerly with Thomas Lloyd-Butler Capital Management has opened a firm in the Bay Area.

Brian Coleman, previously an assistant portfolio and senior research analyst at Thomas Lloyd-Butler in San Francisco, has launched Hawk Hill Asset Management and aims to raise at least $25 million for a concentrated small-cap growth fund.

Coleman's departure comes a year after Scott Chan and Jeffrey Tha left Thomas Lloyd-Butler to co-found Magnum Opus Capital Management.

Coleman believes his small-cap fund will have a capacity of $350 million of capital. The fund will be concentrated in 15 to 20 long holdings and