Discovery Strategy


HMC’s Discovery strategy seeks to generate long-term capital growth primarily through investments in small and microcap stocks in the U.S. and Canada.

Discovery’s strategy is to identify “hidden gems” or deeply undervalued companies and assets among the vast number of smaller capitalization companies in North America. Discovery performs rigorous due diligence and may take concentrated positions in less liquid securities, seeking to build large ownership stakes over time. By maintaining a focused portfolio, Discovery is able to work closely with each company to see that it reaches its fullest potential.

Investment Team

Kenan H. Lucas
Managing Director and Portfolio Manager

Kenan H. Lucas is Managing Director and Portfolio Manager of the Harbert Discovery Fund. Mr. Lucas also serves on the Boards of Qumu Corporation and Streamline Health Solutions. Previously, Mr. Lucas worked at Swander Pace Capital, a middle-market private equity firm. At Swander Pace, he closed a number of acquisitions and re-financings, evaluated investment opportunities, and monitored portfolio companies, advising them on strategy, growth initiatives, acquisition opportunities, and corporate financing options. Prior to Swander Pace, Mr. Lucas was at Cowen and Company, a middle-market investment bank, where he advised companies on sell-side transactions and strategic alternatives. Mr. Lucas earned an MBA from the Darden School of Business at the University of Virginia, where he received the Faculty Award for Academic Excellence. Mr. Lucas has a BA in Economics, magna cum laude, from Vanderbilt University.

Mr. Lucas is an active member of the Cathedral Church of the Advent.


Morgan O. Ogilvie III
Senior Associate

Morgan O. Ogilvie III is a Senior Associate of the Harbert Discovery Fund. Prior to joining HMC in 2017, Mr. Ogilvie was an Associate in the corporate and investment bank at SunTrust Robinson Humphrey where he primarily focused on capital markets transactions in the healthcare services and industrial sectors. Mr. Ogilvie has a MS in Finance and a BS in Finance and Economics from the University of Alabama.


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