LCAP Capital Formation
Capital, structured to align.
LCAP Capital Formation LLC (“LCAP CF”) is the regulated capital formation practice of Levered Capital Advisory Partners LLC. Third-party marketing and capital introduction for SMAs, Funds of One, and LP interests in private funds — conducted exclusively through Stonehaven LLC, Member FINRA, NFA, SIPC.
Check the background of Stonehaven, LLC on FINRA BrokerCheck →
About LCAP CF
The regulated arm of LCAP.
LCAP CF is the dedicated capital formation practice of Levered Capital Advisory Partners. Each of its members is registered and supervised through Stonehaven LLC, an independent broker-dealer (Member FINRA / SIPC) that hosts and supervises regulated third-party marketing professionals.
We bring the same operator vantage point — built across decades of business development, risk, and portfolio management at the world's leading hedge funds — to the work of matching managers with the right kind of capital. Our preference, consistent with the broader LCAP philosophy, is to engage on a basis that aligns with the long-term growth of the firms we represent.
Services
Capital formation across three structures.
We work with hedge fund managers and platforms to raise capital across the structures that best fit each strategy, time horizon, and investor base.
01 — SMAs
Separately Managed Accounts.
We help managers articulate the SMA opportunity to allocators who require transparency, control, or strategy isolation — and help platforms find external risk-takers who fit the seat better as an allocation than as an internal hire.
02 — Fund of One
Single-investor funds.
For relationships that require a single LP structure, we work with managers and allocators to structure and place Fund-of-One vehicles — preserving operational independence for the manager while delivering the bespoke terms an anchor investor expects.
03 — LP Interests
Commingled fund placement.
Targeted introduction of LP interests in commingled private funds to a curated set of qualified institutional investors, family offices, and wealth platforms — focused on long-duration capital that matches the strategy.
Our Approach
Aligned with the manager. Built for the long term.
We extend the advisory philosophy of the broader LCAP practice into our capital formation work. Our engagements are designed to scale with the firms we represent — measured by the durability of the capital we introduce, not the volume of meetings we hold.
Curated
Selective mandates.
We represent a small number of managers at any given time. Selection is driven by the quality of the strategy, the team, and the structural fit with the capital we know.
Considered
Right capital, not all capital.
We focus on durable, strategy-appropriate capital — sequencing introductions so that early LPs serve as a foundation.
Connected
Integrated with the LCAP practice.
Capital formation conversations frequently raise questions about financing, risk, and team. LCAP CF clients can draw on the broader LCAP consulting practice as needed.
For Allocators
Differentiated alpha, vetted by operators.
We work with institutional allocators, family offices, and wealth platforms seeking differentiated alpha streams that fit a specific portfolio role. Our edge is the same edge we offer managers: we have sat in their seats. Every mandate we represent has been evaluated by people who have built and run portfolios at the platforms allocators most respect.
If you are an allocator and would like to learn more about current mandates, please reach out via Inquiries@LevCapAdvisory.com.
For Managers
A capital partner that thinks like you do.
We are selective about the managers we represent because we expect to be a meaningful contributor to the firm — not a CRM line item. If you are considering external capital, an SMA program, or a Fund of One and want a conversation with people who have sat on the other side of the table, we would welcome the introduction.
Initial conversations are confidential and free of obligation. Inquiries@LevCapAdvisory.com.
Regulatory
Disclosures.
FINRA BrokerCheck
Information about Stonehaven, LLC and its registered representatives is available on FINRA's BrokerCheck. Check the background of Stonehaven, LLC on FINRA BrokerCheck.
Stonehaven affiliation — required disclosure
All members of LCAP Capital Formation LLC are registered representatives and securities offered through Stonehaven, LLC — Member FINRA, NFA, SIPC. Regulatory disclosures: Disclaimer, Privacy, Form CRS, and ADS.
Risk — private placements
Investments in private placements involve a high degree of risk and may result in a partial or total loss of your investment. Private placements are generally illiquid investments. Investors should consult with their investment, legal, and tax advisors regarding any private placement investment.
Relationship between LCAP and LCAP CF
"LCAP CF" refers to LCAP Capital Formation LLC, the capital formation practice affiliated with Levered Capital Advisory Partners, LLC. Capital formation, third-party marketing, and any securities-related activity are conducted only through Stonehaven, LLC. Levered Capital Advisory Partners, LLC and Stonehaven, LLC are separate and unaffiliated entities. The consulting and advisory services described on the main LCAP site are non-securities services provided by Levered Capital Advisory Partners, LLC and are not offered through Stonehaven, LLC.
No offer or solicitation
The information on this site is for general informational purposes only. Nothing on this site constitutes an offer to sell, or a solicitation of an offer to buy, any security or investment product, in any jurisdiction in which such offer or solicitation would be unlawful. Any offer to invest in a private fund or strategy may be made only by means of definitive offering documents delivered to qualified investors meeting the eligibility requirements of the applicable strategy.
Eligibility
The investment opportunities discussed on this site are available only to "accredited investors" and "qualified purchasers" as those terms are defined under U.S. federal securities laws, and may be subject to additional eligibility requirements in non-U.S. jurisdictions. Investments in private funds involve substantial risk, are illiquid, and are not suitable for all investors.
Forward-looking statements
Statements regarding strategies, market opportunities, or performance reflect current views and assumptions and are subject to change. Past performance is not indicative of future results. No representation is made that any strategy will or is likely to achieve its objectives.
The regulated capital formation practice of Levered Capital Advisory Partners. All members of LCAP Capital Formation LLC are registered representatives and securities offered through Stonehaven, LLC — Member FINRA, NFA, SIPC.
Inquiries: Inquiries@LevCapAdvisory.com
© 2026 Levered Capital Advisory Partners, LLC. All rights reserved.