About Hypatia Capital
Hypatia Capital is an asset management firm focused on sponsoring female CEOs and investors. Our network of CEO-Level women, asset managers, and public board member network is our collaborative platform.
The Hypatia Women CEO Index (HWCEO) is designed to measure the performance of female leadership in publicly traded companies.
Hypatia created the Hypatia Women Hedge Fund Index (HWIX) - Powered by Wilshire as both a way to measure female hedge fund performance, as well as an allocation mechanism for the HWFM.
Our hedge fund initiative, the Hypatia Women Fund Managers I (HWFM) is a proactive solution for qualified investors to invest directly in women hedge fund managers who meet certain rules-based criteria. Our goal is to grow the percentage of hedge fund AUM managed by women, and increase the prominence of these exceptional managers within the institutional investor community.
Our private equity initiative, currently on hiatus while we focus on launching the HWFMI, includes both growth equity and buyout transactions. Our deal size is lower-middle market to middle-market transactions, where we collaborate with larger private equity funds.
We believe in talent and performance. We know that in order to become a high level executive of a Fortune 1000 company or a successful fund manager, talent, drive and stellar performance records are a must. If you are a woman, the bar is just that much higher. Our chosen talent pool are proven performers.
Hypatia Capital believes there should be more women at the helm of America’s largest corporations and in the investment management industry. We strive to make this a reality by focusing on investing in women in leadership in all asset classes. We will not be satisfied until women are as well represented in the CEO suite as they are in the workforce overall.
Our Executive Network
The Hypatia Capital Network is a qualification’s based group of CEO-level executives, private equity investors and leading corporations. Our network includes over 1000 CEO-level executives, with over 25% serving on public boards.
Patricia Lizarraga is the managing partner of Hypatia Capital, an asset manager focused on investing in women in leadership since 2007. Hypatia Capital Management is the issuer of the Hypatia Women CEO ETF (WCEO), an ETF investing in American public companies with female CEOs, small to mega cap. The WCEO has been nominated for Best Thematic ETF of the Year for the ETF.com Awards, 2023. Hypatia Capital also publishes both the Hypatia Women CEO Index, and the Hypatia Women Hedge Fund Index, both measure and promoting female performance in each asset class. Ms. Lizarraga has over 25 years of merchant banking experience, as well as is a founder of several successful companies. Ms. Lizarraga founded the Grupo del Ande in 1997 and is a founding and former Investment Committee member of Sigma SAFI, a leading asset manager in Peru. Prior to founding Hypatia Capital, she was a Managing Director at Credit Agricole Securities' New York mergers & acquisitions group. She started her merchant banking career at Donaldson, Lufkin & Jenrette.
Ms. Lizarraga serves as an independent board member of Credicorp Ltd. (NYSE:BAP), the largest financial services conglomerate in Peru, where she is Chair of the Audit Committee, and former Chair of the Corporate Governance Committee. She also serves on the Board of Directors of Banco de Credito del Peru, the largest bank in Peru. Ms. Lizarraga also serves as an Independent Trustee of the John Hancock Complex of Funds. She has served as the President of the Privatization Committee of the Toll Roads of Peru. Ms. Lizarraga is a Trustee for the Museum of Art of Lima.
Ms. Lizarraga received her Bachelor of Arts degree, cum laude, from Yale University and her Master of Business Administration from the Harvard Business School.
Chief Operating Officer
Mr. Grenawalt is the Chief Operating Officer at Hypatia Capital. He is a member of the Investment Committee. He is also responsible for the research operations of the Hypatia Women Hedge Fund Index – Powered by Wilshire and Hypatia Women Fund Managers I. Mr. Grenawalt also is also responsible for leading and training our analyst intern team. He received his Bachelor of Science in Applied Economics and Management from Cornell University.
Advisory Board Chair
Mr. Mendoza has led a distinguished career as a financial services industry executive and as a board member and advisor to some of the world’s leading corporations, including serving 10 years as Vice Chairman of the Board and Member of the Executive Committee of JP Morgan where he worked for 30 years and led the M&A, Capital Markets and Private Equity businesses. He subsequently co-founded a risk management firm and continued working as an advisory banker for select clients.
Currently, Roberto serves on the Boards of RFHL and Western Union. He has also served as a board member of XL Capital (Chairman), Egg (Chairman), ACE, Alicorp, Banesto, Baosteel Metal, BOC Group, Continental Airlines, Manpower, Mid Ocean, Partner Re, Prudential, Reuters, the Travelers Group, and Vitro. Mr. Mendoza also served as President of the Chatham House Foundation and is a member of the Council on Foreign Relations. Mr. Mendoza earned a B.A. in history from Yale University and an M.B.A. (Baker Scholar) from Harvard Business School.
Ms. Mager is a Senior Advisor at Hypatia Capital. Previously, she was a Managing Director at Goldman Sachs in Global Investment Research from 1995 until 2007. In this role she led a team of 19 research professionals covering more than 90 stocks across all sectors of retail. Ms. Mager was named an All Star Analyst for nine consecutive years (1999-2007) by Institutional Investor, and recognized as a top analyst in surveys by Greenwich Associates, Reuters, Starmine, and The Wall Street Journal. Her corporate and investor clients valued her industry knowledge and strategic perspective. While at Goldman Sachs, Ms. Mager assessed mergers and divestitures for strategic and financial soundness and worked on numerous primary and secondary transactions, including IPO's of Polo Ralph Lauren, Columbia Sportswear, Carter's Childrenswear, Coach, UnderArmour, Maidenform, J. Crew, and Lululemon.
Upon leaving Goldman Sachs she became a senior advisor to the CEO of Liz Claiborne as it restructured a portfolio of 41 branded businesses. She then joined Kekst & Company as a strategic and financial communications consultant. Earlier in her career, Ms. Mager held various investment and research positions focused on the consumer sector at General American Investors, Smith Barney, Harris Upham, Inc, and Morgan Stanley. She began her career at Macy's, Inc. in FP&A.
Senior Advisor, Strategy and Operations
Margaret brings over 28 years of experience working with organizations on strategy development, capability building and organizational change. In 2006, Margaret joined private equity firm Thomas H. Lee Partners (THL) as a Managing Director to build the internal Strategic Resource Group which works with portfolio company CEOs and their management teams to implement strategic initiatives, as well as operational diligence of target companies. Margaret served as a Director of the Board of Clear Channel Outdoor Holdings, Inc.
Prior to joining THL, Margaret spent 15 years at the Monitor Group, a global strategy consulting firm. She was promoted to Partner in the initial Partnership cohort, and built and led the firm’s operations strategy business unit.
Margaret serves as an Executive Search Advisor with Pinnacle Search Partners within their private equity practice. In addition to her advisory work, Margaret is an Executive Fellow at the Center for Higher Ambition Leadership with a focus on the private equity space.
Margaret earned a BA in English Literature, cum laude, from Colgate University and an MBA from the Harvard Business School.
Keitha Y. Pansy, CPA, advises Hypatia Capital's overall fundraising and investor relations strategy.
Keitha has over 15 years of asset management experience from top global firms, including 12 years with BlackRock working within the Institutional Client Business, the Defined Contribution Business, and Business Operations. Prior to BlackRock, Keitha was a private banker at JPMorgan Private Bank where she managed relationships for ultra-high net worth clientele, consisting of individuals and family-offices. She also spent several years as a Senior Accountant within the Assurance and Business Advisory Group of ArthurAndersen.
Keitha graduated summa cum laude from Howard University with a BBA in Accounting, and an MBA with a focus in Finance from the Haas School of Business, UC Berkeley.
Ms. Stafford is the CEO babyMed, a leading fertility information website. Previously, she was Managing Director and Head of Strategy for Sullivan and Four32C, prizewinning innovative digital marketing agencies. Ms. Stafford was Vice President, Marketing and Business Development for Conde Nast Digital. Prior to her digital focus, she held marketing positions at Disney, Bloomingdale’s and J.Crew.
Ms. Stafford holds a B.A from Yale University.