L1 Group backs former analyst to launch new long-short hedge fund

Australian investment firm L1 Group has partnered with former L1 Capital analyst Andrew Lin to launch a new long-short hedge fund, PXC Advisors. The firm's first new investment partnership since 2021, PXC Advisors will introduce its flagship Dynamic Return Strategy to external investors in September. Lin, who has managed the strategy since January 2024 using capital from L1 Capital's founders and employees, founded the firm after working at L1 Capital for eight years.

The Dynamic Return Strategy invests in up to 60 stocks across developed and emerging markets, aiming for annual returns of at least 10%. Since its inception, the strategy has generated annualised net returns of 51%. Lin's background includes co-founding health technology business CliniCloud, now known as Cortical Labs, and a stint as a senior associate consultant at Bain & Company.

In addition to his medical doctor background, PXC Advisors' investment approach focuses on identifying inflection points in companies and industries, particularly in technology, industrials, healthcare, and other growth-oriented sectors. This partnership marks L1 Group's first new investment venture since launching the L1 Capital Catalyst Fund in 2021, as L1 Group seeks to work with experienced investors and provide infrastructure to aid their investment businesses.