Mayo Center - Darden Capital Management - DCM Funds

Leadership Team

Nick Wey, Chief Executive Officer
Darden Summer Internship: Plustick Management (Buyside)

Prior to Darden, Nick served as Chief of Staff at 2b AHEAD ThinkTank, a strategic consulting firm based in Germany, and concurrently as Fund Manager at 2b AHEAD Ventures, an early-stage deep-tech VC firm, where he led fundraising, investor relations and advised portfolio company CEOs across industries. This summer, he will be interning as a Summer Investment Associate at Plustick Management, an opportunistic, event-driven alternative investment firm.

Alex Hechtner, Chief Investment Officer
Darden Summer Internship: Guggenheim Securities (Investment Banking)

Prior to Darden, Alex worked as a Manager on the Structured Finance team of Lightsource bp in Denver, CO. In this role, he arranged tax equity and debt financings of utility-scale solar and battery storage projects. He started his career at Aether Investment Partners, a real assets private equity firm. Alex graduated from the University of Denver with a Bachelor of Science in Finance. This summer, he will be interning with Guggenheim Securities in New York. Alex is CFA charterholder.

Arnav Rajoria, Chief Financial Officer
Darden Summer Internship: CAV Angels (Angels Investing)

Prior to Darden, Arnav built a strong foundation in investment analysis and financial decision-making through roles in asset management and investing. He worked at Blackstone and Canara Robeco, where he developed experience in financial modeling, valuation, securities research, and investment thesis development. A Chartered Accountant (CA) and CFA charterholder with a master’s degree in Economics, he brings deep analytical expertise to markets, business performance, and strategy. He is particularly interested in roles that sit at the intersection of investing, strategy, and long-term value creation, and he will be exploring these opportunities this summer through founder interactions with CAV Angels.

Regina Wu, Chief Research Officer
Darden Summer Internship: Jefferies (Investment Banking)

Regina has five years of experience at RBC Capital Markets as a Vice President, where she worked across multiple functions and supported strategic initiatives in financial analysis and balance sheet optimization. She also managed a large corporate lending portfolio. She holds a bachelor’s degree in Mathematics from the University of Waterloo. This summer, she will join Jefferies as an Investment Banking Summer Associate.

Fund Overview

The Cavalier Fund is a long/short equity fund investing predominately in domestic equities across the investable market capitalization range and targeting net long exposure of 80%. The fund aims to generate positive risk-adjusted returns by utilizing a bottom-up strategy to identify undervalued companies with defensible competitive advantages and long-term earnings potential. Additionally, the ability to short stocks and indices that are expected to decrease in value allows the fund to lower volatility of returns and enhance alpha. Over a medium- to long-term horizon, the fund seeks to outperform the S&P 500 Index through prudent stock selection and portfolio management.

The Cavalier Fund in alignment with the broader goals of Darden Capital Management aims to provide students with a unique learning opportunity to gain practical hands-on experience and enhance their understanding of security valuation and portfolio management with the expectation of furthering their pursuit of careers in the investment management industry.

Portfolio Leadership

Connor Shaw, Senior Portfolio Manager
Darden Summer Internship: Lazard (IB - Industrials)

Prior to Darden, Connor was an engineer at Altec Industries, where he led initiatives to streamline manufacturing systems, reduce costs, and improve scalability across a multi-plant production network. He holds a B.S. in Mechanical Engineering from Clemson University and is a Chesapeake Corporation Foundation Fellow at Darden. This summer, he will join Lazard as a Summer Associate on the Industrials team.

Amartya Vats, Portfolio Manager
Darden Summer Internship: Jefferies (Technology, Media and Telecommunications IB)

Before attending Darden, Amartya was a Software Development Engineer III at Walmart Global Tech, where he developed scalable solutions across e-commerce and advertising platforms, driving faster launches and meaningful cost savings at scale. This summer, he will be joining Jefferies as a Summer Associate in the TMT team.

Emilio De Somma, Portfolio Manager
Darden Summer Internship: Santander (IB Financial Sponsors)

Prior to Darden, Emilio worked at Emerald Creek Capital, a private credit fund in NYC focused on hard money loans, as an origination team member supporting deal sourcing, market research, and underwriting across diverse asset classes. He previously spent 5 years working at numerous startups across the tech and e-commerce sectors. This summer he will be interning at Santander Corporate & Investment Banking, working with the Financial Sponsors group executing leveraged buyout transactions.

Owen Duggan, Portfolio Manager
Darden Summer Internship: Wells Fargo (FIG IB)

Prior to Darden, Owen spent 4 years as a Representations and Warranties Insurance broker for Willis Towers Watson. He helped broker ~67 policies a year, working on transactions ranging from $10 million to $12 billion. He will be interning with Wells Fargo in New York this summer.

Cavalier Fund Investment Thesis

The Cavalier Fund strategy focuses on long-term performance through prudent security selection, portfolio diversification techniques, and the benefits of enhanced returns and lower volatility generated through short positions. The fund intends to minimize cash allocation and portfolio managers may invest opportunistically across sectors.

For long positions, the fund employs a bottom-up investment approach focused on identifying undervalued investment opportunities relative to long-term earnings potential using fundamental analysis. For short positions, the fund seeks to identify companies with flawed business models, unsustainable performances or financial positions, overly optimistic analyst expectations, and/or signs of potential earnings manipulation and may also consider event/catalyst-driven opportunities.

Our fund will hold approximately 15-25 long positions at all times. As well, the value of our short positions will not exceed 20% of our total assets. The Cavalier Fund is able to invest in all capitalizations and sectors, excluding the microcap designation.

Fund Overview

The Colonnade Fund is a Real Estate Fund investing in primarily publicly traded real estate securities, including REITs and other real estate related stocks. The portfolio can also hold bonds, cash, and ETFs related to the real estate industry. The Fund will seek to invest in single name positions in equity REITs, mortgage REITs, and infrastructure securities. In terms of allocation, the fund will strive to hold 65% of the portfolio in publicly traded REITs and the remaining 35% in real estate adjacent securities. Over the medium to long term, the fund will seek to outperform the FTSE NAREIT US Real Estate Index.

Additionally, the Colonnade Fund, in alignment with the broader goals of Darden Capital Management, aims to provide students with a unique learning opportunity to gain practical hands-on experience investing in real estate securities. Students interested in a career in real estate or the broader investment management industry would find this opportunity extremely useful.

Portfolio Leadership

Ingrin Medina, Senior Portfolio Manager
Darden Summer Internship: Strategy& (Private Equity Value Creation - TMT)

Ingrin has a background in real estate asset management and investment banking. Prior to Darden, she worked as Vice President at AC Capitales SAFI, where she led a REIT’s strategy and oversaw a diverse portfolio of office, industrial, and hospitality assets. Her expertise includes executing large-scale acquisitions and divestment strategies, as well as managing negotiations with LPs, regulators, and financial institutions. Ingrin holds a B.S. in Economics. This summer, she will join PwC as a Strategy & Private Equity Value Creation Senior Associate Intern.

Connor Mannion, Portfolio Manager
Darden Summer Internship: Baird (IB)

Prior to Darden, Connor served five years in the Marine Corps as a Communications Officer, where he managed a platoon of 75 Marines and deployed to Southeast Asia and South America. He attended the U.S. Naval Academy, where he graduated with a degree in mathematics with economics and was on the basketball team. This summer, Connor will be joining Baird in Charlotte, NC as an Investment Banking Summer Associate.

Jack DeVol, Portfolio Manager
Darden Summer Internship: Lazard (Real Estate IB)

Prior to Darden, Jack worked across real estate private equity, investment banking, and digital infrastructure. At EQT, he focused on real estate private equity acquisitions and asset management, underwriting transactions and helping drive portfolio strategy across asset classes. He previously worked at Stronghold Digital Mining, where he held an operational leadership role in a fast-growing bitcoin mining platform, overseeing day-to-day operations and collaborating closely with engineering and power plant teams. Jack also has experience in real estate investment banking at PTB, where he supported capital raising and strategic advisory assignments for real estate platforms. He earned his undergraduate degree from University of Virginia. This summer, he will be interning with Lazard in New York City on the Real Estate Investment Banking team.

Jack Posthauer, Portfolio Manager
Darden Summer Internship: Wells Fargo (REGAL -Real Estate, Gaming, Lodging & Leisure Investment Banking)

Prior to Darden, Jack worked at the intersection of real estate and technology, beginning his career in tenant representation at JLL, where he advised clients on portfolio strategy and complex lease transactions. He later moved into the PropTech space, taking on operating roles at venture-backed startups where he led go-to-market initiatives and partnered with ownership groups and executives to drive adoption of technology across real estate portfolios. Through these experiences, he developed a strong interest in how technology can improve asset performance and reshape the built environment. Jack holds a Bachelor’s degree from the University of San Diego. At Darden, he is actively involved in real estate and investing initiatives and will be interning this summer with Wells Fargo’s Real Estate, Gaming, Lodging, and Leisure investment banking group in New York.

Fund Overview

The goal of the Darden Fund management team is to deliver returns that exceed our benchmark while incurring a comparable level of risk. We believe that superior risk-adjusted returns will result from primary, value-added research that leverages our general management education at Darden.

Our equity investment strategy is focused on the small-cap segment; our equity portfolio benchmark is the S&P SmallCap 600. We believe that markets are least efficient in the small-cap arena, offering us the greatest opportunity for generating positive alpha. Furthermore, while we are focused on bottom-up research, we are optimistic about a reversal of the long bear market. Small-caps have historically outperformed in the initial stages of a bear market, offering additional upside potential to the Darden Fund.

Small companies typically carry more firm-specific risk than larger firms. As a result, the current management team will ensure adequate diversification by holding a larger number of equity positions (~40) than has been true historically (~25). In addition, careful attention will be paid to matching industry exposure to the benchmark. 

Portfolio Leadership

Robbie Lagan, Senior Portfolio Manager
Darden Summer Internship: OIC (Private Equity Infrastructure)

Prior to Darden, Robbie worked as an Associate on the Project Finance team at Transurban in Tysons, VA. In this role he acted at the financial model lead for a $4B+ portfolio and new investment investment opportunities related to toll road infrastructure. Prior to this, he worked as a government consultant for Deloitte, modeling borrower credit risk for public-private partnernship projects. Robbie graduated from the University of Richmond with a Bachelor of Science in Business Administration with a concentration in Finance and minor in Mathematics. This summer, he will be interning with Orion Infrastructure Capital in New York City. Robbie is a CFA charterholder.

Colin Graham, Portfolio Manager
Darden Summer Internship: UVA LVG Seed Fund (Venture Capital)

Colin has over seven years of experience in federal consulting, defense technology, and research & advisory work. His background spans strategic planning, financial management, project portfolio management, and business development.

Patrick McCauley, Portfolio Manager
Darden Summer Internship: Bank of America (Emerging Growth & Regional Coverage IB)

Before coming to Darden, Patrick spent over seven years in buy-side equity trading roles, most recently serving as Head Trader at Polaris Capital Management, a Boston-based global value asset manager. In that role, he managed global equity trading across more than 30 markets, led broker strategy and execution, and implemented process improvements to enhance performance and reduce costs. He earned a B.A. in Economics from Boston College. This summer, he will be joining Bank of America as an Investment Banking Summer Associate.

Ugo Okeke, Portfolio Manager
Darden Summer Internship: Mckinsey & Company (Consulting)

Prior to Darden, Ugo worked as a physician in Nigeria and as a Product Manager focused on digital health tools for patient care across Africa. He also co-founded a solar energy startup serving healthcare organizations, helping improve power reliability and support digital transformation. He holds a medical degree and, this summer, will join McKinsey & Company in Washington, DC as a Summer Associate.

Darden Fund Investment Thesis

We believe that the market is least efficient in small-cap segment offering the greatest opportunity for generating positive alpha. Small cap stocks have outperformed mid and large-cap stocks for six consecutive years, and continued this trend in 2004 outperforming the general market by 10%.

It will be difficult for small-cap stocks to continue these outsized returns particularly in an environment of rising interest rates, which has traditionally favored large-cap stocks. However, The Darden Fund managers aim to outperform our competitive benchmarks through a process of disciplined fundamental research and analysis. By leveraging our team’s diverse experiences and educational foundations, we hope to realize superior returns while remaining conscious of the inherent risk of our investments.

Fund Overview

The objective of the Jefferson Fund is to maximize investment returns, while at the same time minimize systematic risk. Diversification is not only achieved at the sector/industry level, but also through asset allocation. As part of Darden Capital Management, the Fund’s other objective is to provide students with an opportunity to enhance their understanding of security valuation and portfolio valuation techniques, with the expectation of furthering their pursuit of careers in the asset management industry.

The Jefferson Fund seeks to generate excess returns through a value-based strategy, whereby out of favor or undervalued investment opportunities are identified primarily through a bottom-up process. We believe that this style of investment, which emphasizes the importance of valuation and seeks to identify companies trading at a discount to their intrinsic value, will lead to consistent long-term outperformance. The Jefferson fund concentrates on companies with market capitalizations in excess of $1 billion and with deep and sustainable competitive moats, which we believe positions the fund to capture above average investment returns. At any given time, the Fund will hold between 15-30 positions. Individual holdings will be limited to a maximum of 6% at time of investment.

According to the Fund’s mandate, it will hold a maximum of 30% of market value in international stocks, 20% in ETFs, and 30% in gross short exposure. From time to time, the Fund may invest opportunistically in corporate bonds or US Government issued securities. The managers intend to minimize the cash allocation.

The Fund is managed against the Russell 1000 Value Index.

Portfolio Leadership

Jack Lorenzo, Senior Portfolio Manager
Darden Summer Internship: Vertical Research Partners (Equity Research)

Prior to Darden, Jack worked as an economic consultant within the Antitrust & Competition practice at Charles River Associates, where he created economic analyses included in expert reports submitted to the DOJ and FTC. Jack obtained his Bachelor of Business Administration from the University of Notre Dame where he graduated magna cum laude with majors in Business Analytics and Economics. This summer, he will be doing equity research at Vertical Research Partners as part of their industrial technology coverage group.

Andrew Durham, Portfolio Manager
Darden Summer Internship: Morgan Stanley (Private Capital Advisory IB)

Prior to Darden, Andrew was a Financial Planning Specialist on a Forbes Best-In-State Wealth Management Team at Morgan Stanley in New York City, where he advised ultra-high-net-worth families, private foundations, and non-profit organizations on capital allocation, portfolio construction, and strategic wealth planning. He previously worked as a Private Wealth Associate at AllianceBernstein in Washington, D.C. Andrew earned a Bachelor of Science in Finance from Wake Forest University. This summer, he will be interning with Morgan Stanley's Private Capital Advisory group in New York City, focusing on GP-led secondary transactions.

Caleb Asay, Portfolio Manager
Darden Summer Internship: Lazard (IB)

Prior to Darden, Caleb worked as a consultant for Deloitte. In this role, he worked with multiple Fortune 500 companies, advising financial institutions regarding operational risk and partnering with social media companies to mitigate internet safety concerns. Caleb earned a Bachelor of Science in Economics and a minor in Statistics from Brigham Young University. This summer, Caleb will be interning with Lazard’s Middle Market team in Minneapolis.

Sourajit Sahoo, Portfolio Manager
Darden Summer Internship: Bank of America (Leveraged Finance)

Prior to Darden, Sourajit spent over five years across Risk and Treasury roles at Goldman Sachs and Credit Suisse, where he partnered closely with sales and traders, managed large institutional portfolios, and led initiatives to enhance credit risk and liquidity frameworks impacting billions in exposure. He holds a master’s degree in Management and a bachelor’s degree in Mechanical Engineering. This summer, he will be joining Bank of America as a Summer Associate on the Leveraged Finance team.

Jefferson Fund Investment Thesis

The Jefferson Fund seeks out of favor or undervalued investment opportunities. At any one time, we intend to hold between 15-30 equity positions. The managers will have no industry bias and will invest opportunistically in any and all sectors. The Fund will purchase companies with a minimum market capitalization of $1 billion, with no maximum capitalization. Because of the managers’ bias towards undervalued companies and businesses that demonstrate high returns on invested capital, the managers expect new investments to concentrate on companies with market capitalizations on the lower end of the Fund’s mandate. From time to time, the managers may identify and invest in undervalued companies with larger capitalization.

Managers intend to minimize the cash allocation.

Fund Overview

The Monticello Fund’s philosophy begins with the premise that superior returns over time can best be achieved through investment in undervalued companies with superior and sustainable growth prospects while integrating macroeconomic and local market factors into stock selection decisions. As a result, the Fund will consist of a blend of companies domiciled around the globe.  By employing a bottom-up approach with intensive research focused on company fundamentals and macroeconomic and local market factors, the Fund’s managers are able to identify undervalued, financially strong, and well-managed domestic and international companies in a global sector context.  Further, the managers each strive to continuously educate ourselves with regards to investment analysis and portfolio management theory. The Fund's benchmark is MSCI All Country World Index.

Portfolio Leadership

Sonali Mahtani, Senior Portfolio Manager
Darden Summer Internship: Santander (Tech IB)

Sonali has over seven years of experience in private markets advisory and fundraising, with a focus on private equity, private credit, and secondaries. Her background includes investor relations, strategic fundraising, and cross-border transaction execution. Prior to Darden, she was a Senior Associate at First Avenue Partners, where she worked on secondaries and private credit mandates, managing fundraising, diligence, and investor outreach. She previously held roles at Mercury Capital Advisors and TresVista, supporting fundraising and deal execution. Sonali is a CFA Charterholder and holds a B.Sc. in Economics. This summer, she will join Santander as a Summer Associate in Investment Banking.

Bolatito Bickersteth, Portfolio Manager
Darden Summer Internship: DCM Intern

Prior to Darden, Bolatito spent six years across FMDQ Securities Exchange and Stears in Nigeria. At FMDQ, Africa's first vertically integrated financial market infrastructure, she worked as a due diligence analyst assessing issuers' capacity and capability to access the debt capital markets. She also contributed to the launch of Nigeria's first exchange-traded derivative and played a key role in establishing Africa's first green exchange, working at the intersection of capital markets infrastructure and sustainable finance product development. At Stears, she led market intelligence and private capital research focused on African economies and frontier markets.

Carter Goodwin, Portfolio Manager
Darden Summer Internship: Moelis & Company (IB)

Before Darden, Carter was a Director at Greyscale Advisory a political risk and security consultancy based in Nairobi, Kenya serving commercial and public sector clients across Sub-Saharan Africa. He has also been an active angel investor with the Nairobi Business Angel Network, recognized as an Emerging Expert by the Forum on the Arms Trade, and served as a Regional Advisor for the European Institute for Peace. Carter holds a BA in Political Science from the University of Pennsylvania and an MSc in African Studies from the University of Oxford. This summer, he will be interning with Moelis & Company in New York.

Valdir Barros, Portfolio Manager
Darden Summer Internship: Evercore (IB)

Prior to Darden, Valdir spent three and a half years as an Analyst at McKinsey & Company in Brazil, where he focused on heavy industries including manufacturing, aviation, energy, agriculture, infrastructure, and logistics. In that role, he worked on large-scale transformations, cost savings, and overall strategic projects and client proposals. He holds a dual Bachelor's degree in Mechanical Engineering and in Science and Technology. This summer, he will join Evercore as a Summer Associate in the Transportation & Logistics group.

Monticello Fund Investment Thesis

Buy decisions are based on a rigorous research process that pays special attention to relative valuation on a local market and broad sector basis, profitability, management strength and competitive advantage while taking into consideration both global market and business risk.  As a result, the Fund will be comprised of approximately 20-40 individual equity holdings with differing market capitalizations from a variety of countries and sectors.

Fund Overview

The Rotunda Fund integrates sustainability research with fundamental analysis to select investments that are likely to outperform the market due to the improved long-term financial performance and lower risk features that accompany sustainable practices.  Sustainability research provides unique and valuable insights into management and internal operations of an organization.  Companies with sound environmental, social and governance (“ESG”) practices have competitive advantages over their peer institutions; these competitive advantages can include lower costs due to efficiency, reduced risk of litigation/environmental liabilities, and lower volatility of raw material costs.  Therefore, sustainability practices are expected to yield market-outperforming risk-adjusted returns.  The Rotunda Fund integrates sustainability research with fundamental analysis to purchase “best in class” companies at attractive valuations. 

Portfolio Leadership

Honey Holman, Senior Portfolio Manager
Darden Summer Internship: Chevron (Energy)

Prior to Darden, Honey served as Senior Manager of Strategy at C Spire, a southeastern telecommunications operator, where she crafted and implemented programmatic M&A strategy for digital infrastructure expansion, led financial analysis and due diligence efforts, and prepared economic forecasting for the CEO and executive team. She also founded a growth strategy consultancy serving clients in financial services and energy efficiency, where she developed investment theses, built valuation models, and advised on acquisition and capital allocation strategy. Honey holds a BA in Economics from Harvard College.

Chris Marshall, Portfolio Manager
Darden Summer Internship: Boston Consulting Group (Consulting)

Prior to Darden, Chris worked at Accenture as a Consultant, where he led data engineering and quality assurance initiatives for a large-scale cloud migration project. Chris graduated from the University of Virginia with a degree in systems engineering. This summer Chris will be interning at BCG in Austin, Texas.

Olaide Ladipo, Portfolio Manager
Darden Summer Internship: Boston Consulting Group (Consulting)

Olaide's background spans investment advisory and management consulting, with a focus on private markets, blended finance, and growth strategy across emerging markets. Prior to Darden, she was an Investment Associate at CrossBoundary, where she advised foundations, development finance institutions, and private equity funds on capital deployment across multiple sectors. She previously worked at McKinsey & Company in Lagos and as an Investment Analyst at Blackaion Capital, supporting capital raises, growth strategy, and organizational transformation across financial services, telecommunications, power, and manufacturing. Olaide holds a Bachelor of Science in Accounting and will be interning at BCG in Washington, DC this summer.

Tomas Bicudo, Portfolio Manager

Prior to Darden, Tomás spent nine years at Itaú Unibanco in São Paulo, Brazil, Latin America's largest bank, working across Investor Relations, Corporate Banking, and Strategic Planning. Most recently, he led an 18-person team driving strategy for an $80 billion consumer loan portfolio, focused on portfolio management, P&L optimization, and competitive intelligence. He earned his CFA charter in 2022 and holds a Bachelor's degree in Production Engineering from Mackenzie Presbyterian University.

Rotunda Fund Investment Thesis

The Rotunda Fund employs a two-step process to select and evaluate opportunities: a threshold step (size and information availability) and an investment evaluation step (ESG, industry, and financial evaluation). 

The threshold step requires (i) market capitalization of $500 million and above and (ii) sufficient disclosure of relevant sustainability-related data.  It is expected that companies reporting under the Carbon Disclosure Project, or a similar industry-standard report, will fulfill this threshold of required disclosure.  Alternatively, companies that publish a corporate sustainability report and/or are required to report data to the US Environmental Protection Agency, such as the chemical and utility industries, will also meet the threshold criteria. 

The companies that meet the requirements in the threshold step will then be analyzed in a three-part investment evaluation step.  This investment evaluation step seeks companies with:

1. Best-in-class ESG metrics relative to peer companies and industry best practices.
2. Industry or industries served, and position within those industries, that is conducive to long-term financial strength.
3. Superior fundamentals, both qualitative and quantitative/valuation, which indicate the potential for favorable risk-adjusted returns.