Colchis Capital Management

Colchis Capital Management

Colchis Capital Management, L.P. was founded in 2005 in San Francisco as the investment vehicle for the Conrad and Bauer families. From its base at 50 California Street, the firm scans for investment themes driven by market disruptions, coupling a top-down macro view with operational businesses it builds or buys to execute on the ground. The firm deploys across three tightly linked asset classes: private credit, residential real estate, and securitized assets. Within real estate, it concentrates on single-family rental aggregation and residential bridge lending — both areas where its in-house data and analytics platform underpins origination and asset management. The vehicle structure blends direct operating companies with fund commitments. The firm maintains an additional office in Greenwich, Connecticut, and evaluates opportunities globally. Colchis operates without disclosed aggregate AUM or headcount, consistent with a family-capital anchor that does not market to external allocators. Its adjacent vehicles and operating businesses are built in-house to service its residential strategies rather than acquired as standalone brands. The firm has not publicized a fundraising close or leadership change in the past two years, reinforcing the low-profile capital base behind it. The structural differentiator is vertical integration through proprietary technology and captive operating companies. Rather than relying on third-party property managers or loan servicers, Colchis builds the operational infrastructure itself, compressing the value chain between investment decision and asset-level execution in single-family residential and specialty finance.