Timeless principles. Frontier markets.
Lily Funds is a private family office investing where enduring value discipline meets the Fourth Industrial Revolution — the companies building the space economy, bought early.
Founded in 2013 by Thomas McManus, Lily Funds manages capital for family, friends, and a select group of institutions and family offices — and works alongside them on financing, deal structure, and development. The firm is not open to the public; new relationships begin with an introduction.
About the firm →Lily SMA
Separately managed accounts in marketable securities for select family offices and ultra-high-net-worth individuals.
The Philosophy →Lily Loans
Short and intermediate-term lending for developers and business owners, and capital partnerships with institutions and family offices.
Lending & partnerships →McManus & Sons
The family holding company — a decade of building and operating real assets across the United States and the Bahamas.
The Portfolio →From land, to water, to orbit.
Investing and building have always run in parallel. Past projects include 550 entitled acres in Henderson, a 13-hangar FBO in Carson City, 18,300 acre-feet of water rights in Gerlach, a 68-meter expedition yacht that supported SpaceX recoveries and delivered ten million pounds of hurricane aid, and more. That operating record is how we underwrite what we own today — across the space economy, AI and robotics, defense, and the public markets.
Thomas McManus
Founder
An economics graduate of St. John's University with time at PIMCO, Thomas ran a multi-billion-dollar private investment company through the Great Financial Crisis, restructured and re-emerged a TG Investments subsidiary from bankruptcy as managing member and CFO, and has held four trading licenses across his career.
Where we're invested next.
Four themes define the decade ahead. Lily Funds has been positioned in them since Rocket Lab traded at four dollars.
From Thomas McManus
The Lily Letter
Short notes go up on X. The Letter is where the thinking goes deeper — market observations, thematic research, and the reasoning behind Lily's positions, in long form.
Price is what you pay. Value is what you get.
From the desk of Thomas McManus
Follow @LilyFunds on X →In the news
Top Gun-themed attraction planned for south Strip
Lily Funds founder Tom McManus sold the 2.48-acre parcel at Las Vegas Boulevard and Russell Road for $12.5 million. The buyers are building Top Gun Vegas there with Paramount, down to a Hard Deck bar from the film.
Strip land sells for $12.8M, buyer remains mystery
Tom McManus sold 2.2 acres on Las Vegas Boulevard at Russell Road for about $12.8 million, to a buyer who asked to stay anonymous. “We are excited for the possibilities.”
Clark County buys land to protect McCarran Airport as the Strip's south end booms
Clark County paid Tom McManus $60.3 million for just over 17 acres beside the airport — bought to keep the Strip's fastest-developing corner out of the flight path.
The rise of the support vessel
Tom McManus's 67-metre Global ran a charter program spanning security details, Triton submersible adventures — SpaceX was even a client — and was first on the scene after Hurricane Dorian.
Fort Lauderdale real estate company sells prime Las Vegas Strip property for $21 million
Lily Funds, through its affiliated company New World LLC, announced the successful sale of a 5.25-acre parcel on the Las Vegas Strip.
5 more storiesShow fewer
Economic engine of Fort Lauderdale Beach
Among the myriad factors that comprise Broward's multi-faceted economic picture, the Fort Lauderdale beach corridor stands apart.
Relief yacht from Fort Lauderdale arrives in the Bahamas
The Global, co-owned by Tom McManus, was the first mega-yacht to reach the Abacos after Hurricane Dorian — delivering over 100 pallets of food and supplies alongside José Andrés's World Central Kitchen.
Celebrity chef to feed Hurricane Dorian survivors in the Bahamas
World Central Kitchen turned McManus's vessel into a floating kitchen and supply base for Abaco. “Our heart is with the people of the Bahamas,” he said. “We feel we have to do something.”
World Central Kitchen Bahamas relief effort preparing to leave from Fort Lauderdale
The 227-foot Global loaded food, fuel, workers and an amphibious vehicle at Pier 66 before sailing for the hardest-hit islands. “We're gonna bring a tremendous amount of food and other aid,” McManus said.
Runway renovation, Jet Ranch propel Carson Airport into new age
The 84,000-square-foot Jet Ranch — three buildings and eleven hangars — is the largest private project ever built at the Carson City Airport.
