Affiliated Managers | Moody Aldrich Partners

Affiliated Managers

MAP Organizational Chart

Today, MAP has interests in several affiliated managers:

Eastern Shore Capital Management

Eastern Shore Capital Management (ESCM) is an investment management boutique that specializes in managing traditional long-only small and SMID-cap US-oriented portfolios on behalf of institutional and individual investors. Formed in 2012 as a division of Moody Aldrich Partners, ESCM resulted from the lift out of a portfolio manager and strategy and their integration with existing investment and organizational capabilities of MAP. ESCM's flagship small cap strategy is GIPS examined and since inception (March 2007) has outperformed the Russell 2000 by over 400 bps per year gross of fees which places it in the top 5% of peers in the eVestment universe of small cap core managers.

Harvest Funds Management

Harvest Funds Management, LLC (HFM), a MAP subsidiary, identifies emerging hedge fund manager talent, makes early investments in their strategies, and acquires economic interests in their businesses. HFM has four investments:

  • Boardman Bay Capital Management is a global long/short equity manager focused on Technology, Media and Telecom (TMT). Formed in July 2012 by industry veterans, Boardman Bay has generated a strong performance record and has experienced a steady growth in assets. HFM completed an acceleration investment on February 1, 2014 and acquired an economic interest in Boardman Bay's management company.
  • Clearance Capital is a European centric real estate specialty firm that manages hedged, opportunistic and long-only real estate securities strategies. In September 2011, Clearance launched an equity market-neutral strategy which has produced "pure alpha" and strong risk adjusted returns. The Fund has a Sharpe Ratio above 2, negligible correlation with directional indices and since inception has compounded returns above 11% (net) with volatility below 5% and maximum monthly drawdown of 2%. HFM made an acceleration investment in July 2012 and acquired an interest in the management company of the Clearance Real Estate Equity Fund.
  • Ecofin Vista Fund is a fundamental long/short equity fund, which is managed with a low net exposure, and focuses on delivering returns that are uncorrelated to equity markets with moderate volatility. The Fund invests globally in listed companies within six core industries that are impacted by changes in energy efficiency: 1) power and fuels; 2) technology and clean technology; 3) transportation; 4) specialty chemicals and materials; 5) industrials, engineering and construction; and 6) infrastructure, utilities and renewables. In December 2012, HFM made a seed investment in the Ecofin Vista Fund and acquired an interest in the business unit responsible for managing the strategy. Ecofin Vista Fund is a strategy offered by Ecofin Ltd, a $1.2 billion investment management firm which specializes in the global utility, infrastructure, alternative energy and environmental sectors.

Previous Ventures

Moody Aldrich Focused Value — In 2003, MAP acquired a 50% interest in a high performing, all cap equity strategy. MAP made a working capital investment and took over all non-investment responsibilities while the portfolio manager retained investment autonomy. Over the following nine years MAP raised approximately $2.0 billion in this strategy. In late 2012, the firm sold its interest in the strategy to Anchor Capital (a subsidiary of Boston Private Financial Holdings, Inc, NASDAQ: BPFH) concluding an investment that generated excellent returns for its partners.