A long-only, actively managed Global Tactical Asset Allocation strategy.

We dynamically allocate across global asset classes, regions, sectors, and investment themes based on macroeconomic conditions and proprietary market analytics — implemented exclusively through highly liquid ETFs.

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THE STRATEGY

Daily-managed global macro, without the complexity.

Global Tactical Asset Allocation

Dynamic allocation across asset classes, regions, sectors, and investment themes — a universe of 200+ exchange-traded ETFs spanning equity, fixed income, commodities, currencies, and crypto.

Robust risk and portfolio analytics

Multi-layer risk analytics — PM-driven AI decomposition of ETF constituents gives a comprehensive view of overall portfolio risk and downside scenario analysis in real time.

Strong returns, low volatility

A better return profile than traditional multi-asset global portfolios, with a better risk profile than traditional macro hedge funds.

INVESTMENT PROCESS

Four steps, applied daily.

Unconstrained across trend, mean reversion, factors, rates, volatility, sector, and geography — built on a foundation of liquid ETF diversification.

Screen

Top-down analysis of macro conditions, asset flows and institutional positioning daily across CTAs, hedge funds, prime brokers, asset managers, pensions, and retail flow.

Identify

Bottom-up decomposition of our diversified ETF universe by region, sector and investment theme for optimal tactical asset allocation.

Position

Establish core portfolio mix. Capture divergences in price strength, harvest alpha opportunistically around position mix, sized for liquidity.

Monitor

Continuously rebalance to lock in gains, reposition for optimal risk/reward, dampen volatility, and smooth the return profile.

RISK MANAGEMENT

Built into the fund's structure.

Structural risk controls come first: we invest only in extremely liquid, highly diversified, exchange-traded ETFs with over $1bn AUM. No leverage, no derivatives, no swaps, no options.

POSITION ENTRY

Asset positioning backdrop and relative strength assessed; Co-CIO discussion covers entry level and position size.

POSITION MANAGEMENT

Trade impact assessed on portfolio asset class, region, sector, and investment theme exposure.

PORTFOLIO REVIEWS

Daily sector and region exposure review, plus daily review of all single-security exposures comprising more than 7.5% of the portfolio.

MARKET REVIEW

Continuous monitoring of VIX dynamics, RSIs, correlations, HY spreads, DXY, rates, fund flows, and hedge fund degrossing risk.

WHO WE ARE

The team

Kyle Kemp

CEO / CO-CIO

MUFG · MIZUHO · CENTIVA · VERITION

15+ years of portfolio management in global credit. $500mm–$1bn portfolio size as senior PM and trader, managing credit-focused strategies across cash, bonds, derivatives and ETFs, with $100bn+ in annual trading volume.

Dan Toomey, CFA

CO-CIO

MILLENNIUM · HOLBROOK · VERITION · TENNESSEE PENSION

25 years across buy-side and sell-side in IG, high yield, distressed, CDX/CDS, treasuries, equities, futures, and options. #1 ranked corporate bond PM in US pensions >$10bn, with 93bps annualized outperformance and a 1.30 information ratio.

Matt Doka

CTO / COO

MCKINSEY · MORGAN STANLEY · III RV MACRO · FIVESTARS

Founded and sold Fivestars to SumUp for $317mm as CTO and global head of enterprise. Architected distributed payments and data systems powering tens of thousands of merchants; finance and strategy experience at McKinsey, Morgan Stanley and III RV Macro.

Contact

For inquiries from qualified investors and institutional partners.

GENERAL INQUIRIES

web@recursuscapital.com

RESPONSE TIME

Within 2 business days

This website does not constitute an offer or solicitation to purchase an interest in Recursus Capital Partners Liquid Macro All-Weather, LP (the “Fund”). Such an offer will only be made by means of the Fund’s confidential offering memorandum and governing documents, and only in those jurisdictions where permitted by law. An investment in the Fund is speculative and is subject to a risk of loss, including a risk of loss of principal. Past performance is not necessarily indicative of future results.