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L1 Group Forms Specialist Investment Manager

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L1 Group (ASX:L1G) formed PXC Advisors, a specialist global long-short investment manager, which was established as a 50/50 joint venture with investor Andrew Lin, according to a Friday filing with the Australian bourse.

PXC Advisors will launch the PXC Advisors Dynamic Return Strategy, which is managed by Lin since January 2024 with capital invested by L1 Capital's founders and employees, the filing said.

The strategy, which has delivered an annualized return of 51% net of fees since its inception to July 31, will open to external investors in September, per the filing.

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