About PILLsBURY LAKE Capital

Pillsbury Lake Capital, LLC founder Oleg Karmanov has over a decade of experience working for a prominent long-short equity hedge fund, from operations and trading to research and portfolio management. For most of his career, Mr. Karmanov has managed all aspects of investment research of publicly traded enterprises, from idea generation to deep primary investment due diligence, execution, and report writing. In 2020, Mr. Karmanov started managing portfolios of equity securities. His specialty is buying under-researched and misunderstood equities. He also has multi-year experience in managing portfolio risk and exposures. 

Mr. Karmanov joined Cannell Capital in 2012 when the firm’s assets were slightly over $100 million. After working in operations and trading, he joined the firm’s research team in 2014. Mr. Karmanov was a key contributor to the firm’s investment performance, helping grow its assets to ~$600 million in 2023.

Throughout his career in the investment management industry, Mr. Karmanov has delivered value as a goal-driven investment strategist, problem solver, research analyst, and leader. He is a Russian immigrant whose personal journey in hedge funds began in 2010.