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Key people at Lapis Advisers, LP.
Lapis Advisers, LP operates as an investment advisory firm focused on special situations, specializing in the acquisition and management of distressed and defaulted credit portfolios. The firm employs a proprietary investment strategy to target idiosyncratic, asset-backed opportunities across various industries, offering solutions such as portfolio purchases, bridge lending, and Debtor-in-Possession (DIP) financing. Their expertise lies in swift, decisive action and strategic execution for complex, time-sensitive financial scenarios.
The firm was founded in 2009, with Kjerstin Hatch identified as a founder and a Managing Principal. Lapis Advisers was established to capitalize on special situation opportunities, initially concentrating on the municipal bond market, leveraging a deep understanding of credit investing, restructuring, and operations. This foundational insight allowed them to develop a specialized approach to difficult financial challenges.
Lapis Advisers serves a clientele that includes banks, various financial institutions, municipal entities, and mission-driven organizations requiring bespoke capital solutions. The company's vision is to act as a reliable partner in resolving non-performing assets and delivering flexible capital to stabilize operations or address short-term obligations, aiming to provide certainty and strategic expertise in challenging financial landscapes.
Lapis Advisers, LP is a boutique investment management firm founded in 2009, headquartered in Denver, Colorado, with operations also noted in San Francisco.[1][2][3] The firm employs proprietary strategies to generate uncorrelated returns in inefficient markets, targeting distressed and defaulted municipal bonds, distressed corporations, and non-traded real estate investment trusts (REITs), alongside valuation, acquisition, and disposition of specialized illiquid securities.[1][3] Its competitive edge stems from sourcing opportunities in these niche, illiquid segments, with approximately 10-15 employees and $2 million in annual revenue as of 2025.[1]
While not a traditional venture firm focused on startups, Lapis contributes to the broader financial ecosystem by providing liquidity and expertise in distressed assets, potentially aiding corporate turnarounds and municipal recoveries that indirectly support economic stability for emerging businesses.[1][4]
Lapis Advisers, LP was established on September 1, 2009, in Denver, Colorado, with Kjerstin Hatch as the Managing Principal and Founder.[1][3][4] Principal owners include Hatch, MCM Advisers, LP, and Barbara Terrell, reflecting a specialized team with deep expertise in illiquid markets.[2] The firm emerged amid the post-financial crisis environment, capitalizing on abundant distressed opportunities in municipal bonds, corporate debt, and non-traded REITs; its focus has remained consistent on special situations and turnaround investments, evolving into a registered investment adviser by 2010.[1][2][4]
Early traction likely built on Hatch's experience in acquisitions and valuations, as evidenced by contacts like Nicole Wingerter (Acquisitions Analyst), positioning Lapis as a nimble player in inefficient segments.[3]
Lapis Advisers operates at the intersection of traditional finance and niche distress investing, riding trends in market inefficiencies amplified by economic cycles, rising municipal debt from infrastructure needs, and REIT disruptions from real estate volatility.[1][4] Timing favors the firm amid ongoing interest rate pressures and post-pandemic corporate restructurings, where illiquid assets trade at discounts, creating alpha opportunities.[1]
Though not directly tech-focused, Lapis influences the ecosystem by rehabilitating distressed corporations—potentially including tech-adjacent firms in proptech or fintech—and supporting municipal bonds that fund tech hubs, fostering indirect stability for innovation-driven economies.[1][3]
Lapis Advisers is poised for steady growth in a volatile landscape, with potential expansion into emerging distress areas like climate-impacted municipals or AI-disrupted corporates, leveraging its boutique model for outsized returns.[1][4] Rising geopolitical and inflationary trends could amplify inefficient markets, boosting demand for its expertise, while regulatory scrutiny on illiquids may drive consolidation—positioning Lapis to partner or acquire amid shifts.[2]
As a resilient player in special situations, Lapis exemplifies how targeted strategies in overlooked segments sustain uncorrelated performance, tying back to its origins in sourcing value where others see risk.[1]
Key people at Lapis Advisers, LP.
