Key Takeaways
- • L1 Group is backing Andrew Lin's new hedge fund, PXC Advisors, marking the firm's first new investment partnership since launching the L1 Capital Catalyst Fund in 2021.
- • PXC Advisors will launch its flagship Dynamic Return Strategy to external investors in September 2026, with a target of at least 10% annual returns across a portfolio of up to 60 stocks in developed and emerging markets.
- • The strategy has generated annualised net returns of 51% since inception in January 2024, when it began with seed capital from L1 Capital's founders and employees.
- • Lin spent eight years at L1 Capital as a senior investment analyst in the long-short team before founding PXC Advisors, bringing additional expertise from founding health technology company Cortical Labs and working as a consultant at Bain & Company.
- • PXC's investment approach targets technology, industrials, healthcare, and growth-oriented sectors, focusing on identifying inflection points where earnings prospects diverge materially from market expectations.
Summary
Australian investment firm L1 Group is backing former L1 Capital analyst Andrew Lin in his launch of PXC Advisors, a new long-short hedge fund preparing to accept external capital. The partnership represents L1 Group's first new investment venture since 2021 and underscores the parent firm's strategy to identify and support specialist investment managers within its ecosystem.
PXC Advisors will open its flagship Dynamic Return Strategy to external investors in September 2026. The strategy, which Lin has managed since January 2024 using seed capital from L1 Capital's founders and employees, has delivered annualised net returns of 51% since inception. The fund will maintain a diversified long-short portfolio of up to 60 stocks across developed and emerging markets, with a stated target of generating at least 10% annual returns.
Lin's background combines investment management with entrepreneurial and consulting experience. After joining L1 Capital in February 2018, he rose to senior investment analyst within the firm's long-short team over eight years. Prior to asset management, he co-founded health technology business CliniCloud (now Cortical Labs), spent two years as a senior associate consultant at Bain & Company, and holds medical doctor credentials.
PXC's investment philosophy centres on identifying inflection points—moments when companies or industries experience structural or earnings changes that create disconnects between future prospects and current market expectations. The strategy emphasises technology, industrials, healthcare, and other growth-oriented sectors where Lin believes active managers can exploit these opportunities through rigorous fundamental analysis.
PXC Advisors will open its flagship Dynamic Return Strategy to external investors in September 2026. The strategy, which Lin has managed since January 2024 using seed capital from L1 Capital's founders and employees, has delivered annualised net returns of 51% since inception. The fund will maintain a diversified long-short portfolio of up to 60 stocks across developed and emerging markets, with a stated target of generating at least 10% annual returns.
Lin's background combines investment management with entrepreneurial and consulting experience. After joining L1 Capital in February 2018, he rose to senior investment analyst within the firm's long-short team over eight years. Prior to asset management, he co-founded health technology business CliniCloud (now Cortical Labs), spent two years as a senior associate consultant at Bain & Company, and holds medical doctor credentials.
PXC's investment philosophy centres on identifying inflection points—moments when companies or industries experience structural or earnings changes that create disconnects between future prospects and current market expectations. The strategy emphasises technology, industrials, healthcare, and other growth-oriented sectors where Lin believes active managers can exploit these opportunities through rigorous fundamental analysis.
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