Larkspur Capital Partners is a registered investment advisor based in Sacramento, California, offering discretionary portfolio management to individuals, families, and charitable organizations. Larkspur Capital Partners specializes in long-term, concentrated equity-oriented investing aimed at capital compounding. The firm uses fundamental analysis to select public and private investments. Uniquely, Larkspur Capital Partners charges no asset-based management fees; instead, the firm operates entirely on a performance-based fee structure, taking a percentage of profits above a guaranteed preferred return. The firm also sponsors private investment vehicles focused on real assets, offered exclusively to existing advisory clients.
Fee Structure
Larkspur Capital Partners does not charge traditional asset-based management fees. Instead, the firm charges a performance-based fee of 25% on any investment gains that exceed an annual preferred return of 6%.
- Preferred Return — The 6% preferred return is calculated daily on the capital actually in your account and carries forward across years if the account does not meet the hurdle, meaning the firm makes nothing until prior shortfalls are recovered.
- Billing — Fees are calculated at the end of each calendar year and billed annually in arrears.
- High-Water Mark — Because shortfalls and negative performance carry forward without resetting downward, the calculation functions as a high-water mark.