Clareville Capital was established in 1995 and attained IMRO membership in 1996. The Pegasus Fund was launched in late 1997 and is the flagship product of the company.

The Pegasus Fund has over 200 investors which include North American endowments, European investment banks, private banks, family offices, corporate pension funds, insurance companies, leading fund of fund organisations and private investors.

The Pegasus Fund has been a part of the MSCI Hedge Fund Index since July 2004 and is a signatory to the hedge fund standards board.