LR Global Partners

In 1997, while at Rockefeller & Co., Murray Logan and Don LaGuardia were approached by the Rockefeller family, Leon Levy, and Jack Nash, the founders of Oppenheimer & Co. and Odyssey Partners, about creating and managing an investment vehicle that pursued undervalued opportunities in listed equities in developing countries, primarily in Frontier Markets. LR Managers, an investment management company was created and initially owned by Murray, Don, and Rockefeller & Co. The founders acted as seed investors for the debut fund, LR Global Partners, LP, which grew its initial seed capital of $69 million to $150 million without any additional capital allocations. Building on the success of the debut fund, LR Global decided to open the opportunity to global investors through an offshore fund, LR Global Fund, Ltd., in 2003. The fund’s strategy was managed pari-passu to the onshore fund. LR Global quickly achieved international brand recognition as a result of strong performance, a steadfast commitment to fundamental analysis and an extensive network of well-respected contacts and relationships. Sean Wilson joined as Managing Principal of LR Global in 2005, bringing institutional experience from his years of developing investment processes and quantitative techniques at Grantham, Mayo, Van Otterloo & Co. (GMO), Rockefeller & Co., and Columbia Management. With continued success, LR Global grew to approximately $1 billion in assets under management by 2007. As a result of the deaths of LR Global’s four largest investors, including the original seed investors and Mr. Logan, the two funds returned approximately 50% of their assets to the investors’ estates and affiliates between 2007 and 2008. The ensuing financial crisis of 2008/9 compounded the fund’s redemptions from the remaining investor base, which was concentrated in Switzerland. By the end of 2009, the funds paid out the majority of remaining assets to our investors. As a testament to the team’s belief in the long-term opportunity in Frontier Markets, LR Global retained its key people despite the drop in assets. The basis for confidence also stemmed from the team’s experience on the ground in Frontier Markets and the realization that there was an opportunity to support an institutionalized investment infrastructure utilizing a capable and intelligent team of low cost research personnel abroad. In 2018, the LR Global Frontier Fund was liquidated and capital was returned to investors. Read more ⏷