“Our history, investment expertise, and long-standing relationships enable us to source and evaluate investment opportunities for our clients.”

Harry Singh, Head of Strategy & Business Development

Portfolio Construction Process Overview:
How We Design a Bespoke Investment Portfolio for our Clients

Strategic Asset Allocation

We begin our investment process by first understanding what risk and reward truly means to each of our clients.

Strategic Asset Allocation serves as a customized long-term roadmap that seeks to anchor the portfolio throughout various market environments.

Tactical Overlay

We moderately tilt asset weights in an effort to capitalize on identified short-term opportunities in the market.

Tactical Overlay reflects a balance between the potential upside, adjusted for conviction level and the incremental increase in market timing risk.

Portfolio Implementation

We implement the customized asset allocation with a combination of passive and active strategies.

We select managers and products based on not only their standalone merits but also their roles in the context of a broader portfolio.

Portfolio Implementation seeks to capture the spirit of custom-crafted beta targets while delivering excess alpha on fee- and tax-efficient bases.

Systematic Investment Diligence Process:
Our rigorous investment process is tailored for each investment offering

Our legacy and moderate size afford us access to a range of limited-capacity investment opportunities.

Our firm’s extensive history and our personal experiences foster a robust network and sourcing pipeline.
We receive hundreds of inbound opportunities on an annual basis and review the associated return on volatility characteristics.
We model the risk-adjusted return of investment offerings and assess the potential role of the investment in a client portfolio in the context of our asset schema.

We look to our proprietary asset allocation model to determine whether an investment may perform a valuable role in a client portfolio, relative to existing offerings.

After this initial analysis, we pursue in-person meetings to learn more about the team behind the most compelling opportunities.
We review key operational aspects, including valuation, reporting, and service providers.
For strategies with greater operational risks, we will rely on affiliated or unaffiliated third parties to perform due diligence on managers.
We pursue industry reference checks on investments in order to evaluate and to understand the experience of prior investors (as applicable), and/or prior colleagues, and/or competitors.
We seek “off-list” references that are not provided by the manager or other party soliciting an investment.
We also review third-party research where available.

Our assessment and analysis include a review of the team, the strategy, any performance history, portfolio role/construction and risk management, as well as a summary reference check.

Our analysis will include a summary of the most notable strengths and risks associated with each offering and will conclude with a recommendation and rationale.
Once the analysis is complete, an offering is presented before its respective Committee(s) for debate on whether it should be added to the platform and offered to clients.
We debate whether the risk-reward profile of the investment is suitable for our clients and review the full body of diligence.
Differentiated Investment Offerings

“We believe that access to differentiated products is a key component to delivering investment advice.”

Jackie Klaber, Managing Director, Opportunistic Investments
Access
Our 137-year firm legacy and experienced professionals help to facilitate access to leading and limited capacity managers and equity offerings.
Size

Our client base is UHNW and HNW, which enables us to research and to incorporate both large managers and also smaller funds that are often beneath the reach of larger banks and institutional investors. We are staffed to conduct independent research with a focus on identifying offerings for high-net-worth private investors.

Quantitative Analysis
We perform quantitative portfolio analysis on funds to identify underlying drivers of risk-adjusted returns over time in an effort to construct thoughtful, “all-weather” portfolios.
Structuring

Our team structures funds and direct investments at minimum subscription sizes specifically designed for individual, taxable investors seeking to build customized portfolios.

Experience

Our team consists of professionals with extensive hedge fund, private equity, investment banking, and research experience. We have direct experience managing alternative investments and securities portfolios.

Overview of Portfolio Implementation Tools
Third-Party Managers

Long-Only

  • We conduct due diligence on a range of mutual funds and long-only strategies, including active, passive, model portfolio, and SMA strategies.
  • We focus on sourcing leading managers and tax-efficient vehicles.

Hedge Funds, Private Equity, Real Assets

  • We follow a rigorous and systematic due diligence process to recommend alternative investment (“AI”) managers to our clients.
  • We structure AI access through low-minimum share classes or feeders to facilitate accessibility for customized individual accounts.
  • We manage fund or hedge funds strategies and periodically offer a proprietary fund of private equity funds.
Direct Private Investments

Direct Private Portfolios

  • On a quarterly basis, we offer opportunities to invest in direct private real estate portfolios.
  • On an opportunistic and periodic basis, we recommend portfolios with complete or partial holdings visibility.

Direct Private Investments

  • We periodically offer access to direct deals, leveraging our strategic advisory business led by a dedicated team of experienced investment bankers.

Co-Invest Opportunities

  • We periodically offer access to co-investment deals, leveraging our network of Private Equity and Venture Capital managers who may be seeking to size up allocations.
Takeaways
  • We perform due diligence, recommend, structure access to, and monitor a range of alternative investment funds, as well as long-only strategies.
  • Our external manager selection group assesses third-party managers on behalf of both commingled proprietary offerings and for bespoke, customized portfolios.
  • We regularly provide opportunities to invest directly in private companies with full holdings visibility and at minimum investment sizes that facilitate construction of a diversified portfolio.

We believe a legacy isn’t left, but lived.

We're inspired that you're here.