Black Raven Investments, LLC

Black Raven Investments provides discretionary portfolio management and investment advisory services primarily to high‑net‑worth individuals, family offices, and charitable organizations, creating an Investment Policy Statement for each client. Beyond typical individual accounts, the firm’s brochure discloses that it also serves pooled investment vehicles and conducts portfolio management for those pooled vehicles, including private funds and alternative strategies.

The firm’s investment process draws on cyclical, fundamental, quantitative, and technical analysis and applies both long‑ and short‑term trading techniques, including short sales, margin transactions, and options strategies. Black Raven discloses that it may use borrowing in separately managed accounts and employ derivatives in SMAs; for qualified clients under SEC Rule 205‑3 it may combine management and performance‑based fees (the brochure cites a 2%/20% example and a high‑water mark arrangement).

Compared with peers, Black Raven is notable for a small, concentrated client base (about five client relationships and roughly $21.4 million in assets under management) paired with an active alternative investments program covering venture capital, private equity, private credit, hedge funds and real estate funds. The firm’s acceptance of pooled vehicle mandates, use of leverage and derivatives in managed accounts, and availability of performance‑based fee arrangements are relatively uncommon features that carry distinct incentive, liquidity, and risk considerations described in the brochure.