BCCM Advisors is an alternative asset manager focused on making equity investments in businesses that are on the right side of long-term trends.
We believe one of the few competitive advantages in life are having a longer time horizon than your competitors.
This view is so fundamental to our core beliefs that it extends to our operational backbone of being wholly owned by a public company.
Blue Clay Capital Management, LLC was founded in 2012 as a continuation of the fundamentally-focused small and mid-cap strategy the team employed at Whitebox Advisors.
Late in 2017, Blue Clay’s investment management business was acquired by Air T, Inc., and re-named BCCM Advisors, LLC.
Air T, Inc. is a publicly-traded firm on the NASDAQ market led by seasoned investor Nick Swenson, its Chairman and CEO.
In 2019, true to our roots of long-term focused investing, we launched the Blue Clay Pan-Africa Fund.
Experience That Counts
Our Chief Investment Officer Gary Kohler has successfully identified winning investments over his more than 30 years navigating the markets for attractive opportunities to commit capital.
Gary’s experience as a first-rate investor has been honed and sharpened while managing our alternative and long-only portfolios, to managing family office assets at Okabena & Company and hedge fund assets at Whitebox Advisors.
Much of Gary’s career has been focused on the small-cap equity markets covering many business cycles in addition to having served on the board of multiple companies.
Our investment theses are based on long-term business fundamentals and not the “quarter.”
Through fundamental valuation analysis we discover companies where the markets have mispriced underlying returns on capital, cash flows or growth opportunities.
We apply our fundamental approach to the small- and mid- cap universe where we find greater market inefficiencies and more undiscovered opportunities.
Focus on Capital Preservation
Over the long run, the greatest tool to combat downside risk is investing in great businesses.
In the short run, no company’s stock is immune to systemic risk, and as such, our investment theses are supported by proprietary systematic option and volatility overlays for certain hedged strategies.
Like how a tree grows exponentially from its sprout, great business models grow exponentially
Meet The Team
Nick SwensonChairman of BCCM Advisors
President and CEO of Air T, Inc.
Nick Swenson provides governance oversight of the vision, growth and development of our asset management platform. Nick is an awarded, seasoned investor, and is currently the Chairman and CEO of our parent, Air T, Inc. following his successful tenure managing credit and distressed focused funds at Whitebox Advisors and Varde Partners. Nick is a regular contributor to financial press, including Business Week, The New York Times, and Bloomberg. His efforts while at Whitebox Advisors were referenced in Michael Lewis’ book “The Big Short” as one of the few managers to correctly navigate the subprime trade market. In 2007, Nick earned award-winning recognition from HFM Week. Nick earned an M.B.A. in Finance from the University of Chicago and a B.A., Magna Cum Laude, Phi Beta Kappa, in History from Middlebury College.
Gary KohlerChief Investment Officer and Portfolio Manager
Gary Kohler is chiefly responsible for executing the investment strategy for BCCM Advisors’ investment portfolios. Gary has more than 30 years of investment experience managing both family office and hedge fund assets. Before founding Blue Clay in 2012, Gary was a Partner and Portfolio Manager at Whitebox Advisors and a Vice President and Portfolio Manager at Okabena Company. In 2007, Gary has twice been recognized for outstanding performance winning the HFM Week Absolute Return Small-Cap Equity Fund of the Year in 2007 and being a finalist for the HFM US Equity Hedge Fund Performance Award in 2018. Gary earned an MBA from the Johnson School at Cornell University and a BA in Psychology from the University of Minnesota.
Fred Steiner, CFAManaging Director, Portfolio Manager
Fred Steiner is responsible for security selection, risk management and portfolio construction for our Pan-Africa strategy. Prior to re-joining BCCM Advisors, Fred earned an MBA from the Carlson School of Management at University of Minnesota where he graduated with distinction and was a Curtis L Carlson Scholarship recipient. During the full-time business school program, Fred worked with a multi-family office, Sawmill Management as a Senior Analyst. There he oversaw approximately $1 billion in public securities. Prior to business school, Fred served as an Analyst and Associate at BCCM and worked in various roles at Signature Financial Partners. Fred studied at University of Cape Town in 2008, graduated from Union College in 2009 with a Bachelor’s degree in Economics and Minor in History and is a CFA charterholder. Fred is engaged in various charities and previously volunteered for Soccer 4 Hope while living in Cape Town, South Africa in 2010.
Michael YeeChief Operating Officer
Michael Yee oversees the investment operations of BCCM Advisors and has 20+ years of experience in finance and accounting. Currently, he manages the day-to-day operations of the management company, middle office and back office duties, treasury functions, accounting and financial reporting, vendor relationships, and investor relations. Prior to joining BCCM in 2014, Michael served as Fund Controller of Aerwulf Asset Management and Interlachen Capital Group LP. Before working in the hedge fund industry he worked for Travelers Insurance as a Senior Financial Consultant in the Investment Accounting department. Michael has Bachelor’s degree in Accounting from the University of St. Thomas.
Manit RyeRisk Management Strategist
Manit Rye is responsible for risk management. Manit has more than 30 years’ experience in structuring and trading yield enhancement and hedging strategies on equities, interest rates, and currencies. Prior to joining Air T, Inc., Manit was CIO and founder of Asymmetric Capital Management and Thomas Funds Americas LLC and was Managing Director and board member of Merrill Lynch Alternative Investments Inc., where as CO-CIO he focused on investing $10 billion in hedge funds and managed accounts. Prior to Merrill, Manit held senior roles in emerging market risk management at UBS O’Connor, Goldman Sachs and Citi Bank. Manit earned a Bachelors of Commerce from Dehli University and holds a Masters in Finance from Claremont Graduate School and UC Berkeley.
Evans Mugi, CAIAManaging Director, BCCM Advisors (Kenya) Limited
Evans serves as the Managing Director of BCCM Advisors Kenya, and supports Fred Steiner in research, security selection, portfolio construction and business development. Prior to joining BCCM Advisors, Evans was the head of the investment team at Nabo Capital (the Public Markets arm of Centum Investment Company Kenya), and was responsible for the firm’s investment activities; including capital allocation and risk management — leading a team of associates and analysts. From 2015 until he became the investment manager in 2017, Evans was a portfolio manager overseeing a diversified portfolio of equity and fixed income investments made in several markets across Africa. From 2012 to 2015, Evans was an analyst and later an associate at Centum Investment Company (Kenya), responsible for researching and executing investments in North and West Africa. Prior to joining Centum, Evans worked in the research department of Genghis Capital from 2011 to 2015 as a fixed income analyst and cross-asset strategist. Evans is a graduate of the University of Nairobi (2009) and also holds the Chartered Alternative Investment Analyst designation.
Clint SemmChief Accounting Officer
Clint Semm has more than 27 years of experience in finance, accounting and treasury management as well as CFO/ops positions at hedge fund firms. Currently, Clint is President & CEO of BLF Inc. a provider of consultative and accounting services for private investment funds, high net-worth individuals, estates and small businesses. Clint currently serves as CAO of BCCM Inc. Previously, Clint served as Controller, and later as CFO, of Whitebox Advisors, LLC from 2001-2013. He managed the day-to-day operations of treasury, fund accounting, corporate Accounting and office administration. Prior to Whitebox, Clint was treasury manager at EBF & Associates, a Minneapolis-based hedge fund, performing daily fund margining and liquidity calculations, providing multiple foreign currency exposure data, and reporting daily cash/margin to portfolio managers. His background also includes various internal audit roles and investment accounting manager at St. Paul Companies (now Traveler’s Insurance). Clint obtained a B.S.B. in Accounting from the Carlson School of Management at the University of Minnesota in 1992. He passed the CPA exam in 1995.
Ben serves as the trader for BCCM Advisor’s Small and SMID Cap Strategies. Ben has been employed at BCCM Advisors since its founding and the firm’s predecessor, Blue Clay Capital Management, which was established in 2012. Prior to joining BCCM Advisors, Ben worked in various roles within asset management at Marquette Financial, UBS Wealth Management and Cargill. Ben graduated with a Bachelor’s degree in Economics and Mathematics at the University of St. Thomas.
Prashant JoshiTrading and Risk Analyst
Prashant is responsible for performing risk management, trade execution, and portfolio construction as well as managing middle office and marketing operations for the BCCM Advisors’ family of portfolios. Prashant began working with BCCM Advisors in 2018. Prior to joining the hedge fund industry, Prashant has had experience working in venture capital due diligence and revenue recognition with Applied Materials and Riverbed Technologies in the Silicon Valley. Prashant earned B.S. in Applied Economics and Business Management from the University of Minnesota.
Get in touch with us
5000 West 36th Street, Suite 200
St. Louis Park, MN 55416
+1 (612) 200-1740
4850 Tamiami Trail North, Suite 301
Naples, FL 34108
+1 (612) 200-1740
BCCM Advisors (Kenya) Limited
Landmark Plaza, 13th Floor, Suite 23
Argwings Kodhek Road, PO Box 856 00606
+254 20 3673592