JL Squared Group, LLC (“JL Squared”) is an investment management company founded in 2003 to manage the hedge fund investments of Ira Lubert, the Founder and Co-Founder of private equity groups with over $16 Billion in total equity raised. The Firm was established to diversify, protect and grow the assets of Mr. Lubert’s portfolio via exposure to more liquid hedge fund strategies. Once the Firm’s hedge fund portfolio was properly in place, the Firm attracted outside investors into the investment partnership through the affiliation with Independence Capital Partners (ICP).
From 2003 to 2011, Jonathan Lubert, Mr. Lubert’s son, managed the assets seeking absolute returns with low correlation to traditional asset classes. In 2011, Jon Lubert brought on a partner to assist in the day to day management of the portfolio, Jonathan Liggett. Mr. Liggett’s unique experience both as an investment banker and as a portfolio manager for an emerging market focused hedge fund, Pharo Management LLC, helped to expand JL Squared Group’s capabilities in the hedge fund market.
The present day objective of the Firm is to protect capital and preserve purchasing power while generating absolute returns in most investment scenarios. The Firm strives to maximize risk-adjusted returns via creating hedge fund products and providing private wealth management services. JL Squared favors strategies that use sound risk management, esoteric asset classes, asymmetric return profiles and a history of performing in all market conditions and sizes positions based on volatility, expected returns and correlations.
Jonathan M. Lubert, Founder and Chairman
Jonathan Lubert is the Founder of JL Squared and currently serves as Chairman and as a member of the Firm’s investment committee. Mr. Lubert’s previous experience includes a leveraged finance investment banking position at Bear Stearns. Mr. Lubert is currently a Managing Director of Valley Forge Casino, an Advisory Board Member of the American Infrastructure MLP Fund, and also serves on the Board of JetPay Corporation. In addition, Mr. Lubert is currently involved with the Children’s Hospital of Philadelphia, the Make-A-Wish Foundation, YPO Philadelphia, and The Lubert Family Foundation. Mr. Lubert’s educational background includes a Bachelor’s of Science in Business Administration, which was earned with the highest distinction from the University of North Carolina at Chapel Hill.
Jonathan R. Liggett, CFA, Partner and Chief Investment Officer
Jonathan Liggett is a Partner and Chief Investment Officer of JL Squared. Mr. Liggett’s primary responsibility is to manage our clients’ portfolios. He joined the Firm in 2011. Mr. Liggett was formerly a portfolio manager for the Pharo Macro Fund, a macro hedge fund with a focus on emerging markets managed by Pharo Management LLC. Mr. Liggett joined Pharo as an analyst in 2002 where he helped build the operations group, was responsible for daily profit and loss analysis, and built risk systems for the Firm. In September of 2004, Mr. Liggett was promoted to a portfolio manager. In that role, he constructed portfolios in currencies, interest rates, credit, equities and commodities in many emerging markets. In equities, Mr. Liggett’s focus was on global technology, energy, and financials companies. He traveled extensively to do research and developed relationships with central banks and finance ministers in many of the countries on which he focused. Mr. Liggett currently serves as a Trustee for Bryn Mawr Presbyterian Church, and formerly served on the Board of Trustees for Fifth Avenue Presbyterian Church in New York City as the investment committee chair. Prior to Pharo, he was an investment banker at Bear Stearns. Mr. Liggett has a Bachelor’s of Science degree with Honors from the University of North Carolina at Chapel Hill and is a CFA® charterholder.
Jason Meldrum, CPA, Partner, Chief Financial and Compliance Officer
Jason Meldrum is a Certified Public Accountant with 21 years of experience in financial accounting. Mr. Meldrum currently serves as Chief Financial Officer and Chief Compliance Officer, and has been employed by JL Squared since February 2004. He is responsible for many vital aspects of the Firm’s back-office procedures, including the Firm’s accounting, SEC compliance, investor relations, and coordination of the annual audit and tax return processes. Prior to joining JL Squared, Mr. Meldrum worked briefly for the Lubert family office. In addition, he worked with the same financial team for almost 8 years at three different healthcare systems. In that capacity, Mr. Meldrum was: a Senior Accountant at Inspira Health Network South Jersey Healthcare from January 2002 to October 2003, where he was instrumental in discovering and correcting discrepancies in the Firm’s accounting records and was integrally involved in the Firm’s accounting department; the Director of Finance of Jennersville Regional Hospital in West Grove, Pennsylvania from July 2000 to December 2001, where he was responsible for all aspects of the hospital’s financial accounting and reporting processes, including preparation of due diligence reports related to its sale; and employed as an accountant for Virtua Health Memorial Health Alliance from March 1996 to June 2000, where his roles increased in responsibility from Staff Accountant to Accounting Manager. Mr. Meldrum holds a B.S. in Accounting from The Pennsylvania State University.
John Dombroski, CPA, Director of Research
John Dombroski currently serves as Director of Research and has been employed by JL Squared since July 2017. Mr. Dombroski is responsible for performing due diligence on potential hedge fund investments as well as monitoring the existing portfolio of hedge fund managers. Additional responsibilities include maintaining the Firm’s statistical models, preparing marketing materials, and assisting the investment team with trade analysis of the Firm’s other assets. Prior to joining the Firm, Mr. Dombroski was a Senior Audit Associate for PricewaterhouseCoopers LLP. In that capacity, he specialized in delivering assurance services to private equity and family owned businesses across a vast range of industries. While at PwC, he planned, coordinated, and managed simultaneous audit engagements and projects and assisted clients in reporting under both US GAAP and IFRS accounting standards. Mr. Dombroski also supported clients on both the buy and sell side of business segments. He graduated cum laude from The Pennsylvania State University with a Bachelor of Science degree in Accounting and a minor in International Business. He is a Certified Public Accountant and an active member of the PICPA.
Ibrakhim Ibragimkhodjaev, CFA, Vice President / Head of Trading
Ibrakhim Ibragimkhodjaev currently serves as Vice President and Head of Trading and has been employed by JL Squared since May 2012. Mr. Ibragimkhodjaev is responsible for supporting the investment team with research and due diligence on existing and potential investments, overseeing the Firm’s trading, and assisting the Chief Financial Officer with the Firm’s operations, including performance reporting, compliance, and coordination of the annual audit. Additional responsibilities include maintaining the Firm’s analytical models and preparing marketing materials. Previously, Mr. Ibragimkhodjaev held a co-op position with the Portfolio Management Group at BlackRock, Inc. while attending Drexel University, where he supported money market mutual funds investment team with trading and research. He graduated cum laude from Drexel University with a Bachelor of Science degree in Finance. He is a CFA® charterholder and a member of the CFA Institute.
Kristina Kulik, Analyst
Kristina Kulik joined JL Squared as an Analyst in July 2016. Ms. Kulik graduated from the University of Pennsylvania with a Bachelor of Arts degree in Mathematics and Economics. While attending Penn, she held a summer internship position in Fixed Income Strategy at Société Générale and worked as a Junior Analyst for Prospero, a marketing company, throughout her senior year. She was also a part of the Wharton Investment and Trading Group on the energy team and published several articles on executive strategies, management style and corporate social responsibility in Russia in the International Business Review, Wharton’s premier undergraduate publication. Before Penn she studied law at St. Petersburg University and was a member of the youth division of the Rotary Club in St. Petersburg, Russia.
Dawn White, Executive Assistant
As an Executive Assistant, Dawn is responsible for supporting JL Squared’s management team and staff, as well as office management functions. Dawn has been with JL Squared since 2010. She holds a Bachelor of Science degree in Business Administration from the University of North Carolina at Charlotte.