Rayne Capital Management has added two senior partners to the company's executive and portfolio management team.
Mitchell Molloy will join as managing partner and David Szybunka will become lead portfolio manager for Rayne Energy, each subject to the receipt of required regulatory approvals.
Molloy and Szybunka will both oversee the Rayne Energy mandate, a long/short absolute return-focused strategy that leverages Rayne Capital's local presence and expertise in the Canadian oil and gas sector.
"We are very pleased to have both Mitch and David joining the team as we move forward with the next stage of growth and opportunity at Rayne Capital. Their depth of knowledge, client dedication and strong sense of the sector truly make them a great addition to the firm,” says Rob McFarlane (pictured), president of Rayne Capital.
Molloy spent the previous 18 years as a part of the team at Peters & Co that built the firm into Canada's premier energy focused boutique investment bank.
Szybunka spent six years building and assisting in the management of energy focused funds at Canoe Financial, which grew from less than USD50 million to approximately USD1 billion of assets under management during his tenure. In 2016 Szybunka was selected as a Brendan Wood TopGun.
McFarlane adds: "Mitch and David bring with them great industry relationships, from boards and senior executive leadership to various technical teams within oil and natural gas focused companies, as well as a solid boots-on-the-ground presence within Calgary."
Rayne Capital provides clients with an absolute return mandate that seeks to provide quality returns through all market cycles, while offering reasonable downside protection. The firm was founded in 2004 by McFarlane.
In 2014 Rayne Capital added the Rayne Capital Opportunities Fund, a complimentary North American-focused fund with an absolute return, opportunistic, long/short mandate diversified across sectors and market caps that has produced a consistent and positive annual return for investors, irrespective of the direction of the stock market. As at 31 January 2017, Rayne Capital LP, the flagship fund in the diversified mandate, had a positive return of 21.2 per cent since inception, while the TSX Total Return Index was up 5.9 per cent over the same time period. The fund has had positive returns in each year since inception, including 2015 when it was up 7.6 per cent versus -8.3 per cent for the TSX Total Return Index.
"The combination of Mitch and David managing the energy mandate and our four-person team managing the diversified mandate provides investors a unique and strategic portfolio that prioritises an attractive return profile in conjunction with capital preservation strategies. The team is purposefully deep and aligned with all of our investors," says James Anderson, portfolio manager of the firm's diversified portfolio mandate.
KPMG serves as the auditor of the firm's funds, while SGGG Fund Services and Apex Fund Services are administrators. CIBC Capital Markets and TD Securities are the prime brokers for both funds. Rayne Capital clients include high-net-worth individuals, family offices and institutional investors.