Seth Klarman discovered racing while growing up three blocks from historic Pimlico Race Course in Baltimore. Klarman, president of The Baupost Group, a very successful hedge fund, formed Klaravich Stables in 1993 with his friend from Baltimore, Jeff Ravich. They bought and raced horses together for about a decade until Ravich left the racing end of the partnership to start his own stable on the West Coast. Klarman still uses the Klaravich stable name and now purchases and races horses in partnership with William Lawrence, CEO and Chief Investment Officer of Meridian Capital Partners. Klarman and Lawrence were introduced by a mutual friend. Lawrence grew up in the Albany N.Y. suburb of Latham and started attending the races at Saratoga at the age of 12. Lawrence has run horses in his own name but has been downsizing his personal stable. Most, but not all of the Klaravich-Lawrence runners are given names with a financial angle. Among the stake winners they have campaigned are Summer Doldrums, Outperformance, Phantom Income, Fiscal Policy and Zero Rate Policy. Since Klarman is a baseball fan and a minority owner of the Boston Red Sox, he and Lawrence have raced stakes winners Fenway Faithful and Yawkey Way.