Lennox Capital Partners

Lennox logo

Lennox Capital Partners (Lennox) is an active boutique investment manager specialising in Australian small and microcap listed equities. 


Lennox was founded in 2017 by James Dougherty and Liam Donohue. The pair previously worked at Macquarie Group where they managed the Macquarie Australian Small Company and Micro-cap funds. During their time working together, the Macquarie Australian Small Company fund consistently delivered top quartile returns, outperforming both the benchmark and peers. The Fund was also a finalist in the 2016 Australian Fund Manager of the Year Awards in the Australian Small Cap category.


Their active bottom-up approach to investing utilises both qualitative screening and in-depth fundamental research to identify investment opportunities. Coupled with rigorous, deep-dive research ‘on the ground’, the pair’s investment process has consistently outperform the S&P/ASX Small Ordinaries Accumulation Index over the medium to long term.

Our Team

James Dougherty
James Dougherty
Principal & Portfolio Manager
Liam Donohoe
Liam Donohue
Principal & Portfolio Manager