On August 28, 2023, an employee-owned, Midwestern financial services firm, Baird, bought a minority stake of less than 25 percent in Octavus (LoCorr's parent). The deal gives Baird an option to increase its Octavus minority stake down the line, yet Octavus' founder remains his firm's biggest shareholder.
LoCorr Fund Management, LLC was founded in 2011 by Kevin Kinzie, former chief of Lincoln Financial's Richard Leahy Corporation. LoCorr is a liquid alts shop, with a mission to help investors boost returns and reduce risk by using alternative investments designed not to be highly correlated to traditional investments, such as stocks and bonds.
That year, the LoCorr team launched their first mutual fund, the LoCorr Managed Futures Strategy Fund, powered by a pair of subadvisors: Millburn Ridgefield for its managed futures strategy and Nuveen Asset Management for the fixed income portion of the fund.
LoCorr Fund Management, LoCorr Distributors, and sister company Steben & Company (an alternative asset manager launched back in 1989) are all subsidiaries of the Octavus Group, which Kinzie founded in 2003.
Kevin Kinzie CEO, Octavus Group / LoCorr Fund Management / LoCorr Distributors / Steben & Company