How do we develop and build investment portfolios specific to our clients to ensure that they can meet their objectives and goals?

Because no two clients are alike, we invest significant time and resources up-front to develop an understanding of them and their mission.


  • Our rigorous and disciplined process begins with listening.
  • We research and develop a thorough understanding of the structure of our clients’ commitments.
  • We understand the sources of our clients’ cash flow.
  • We evaluate and prioritize the risks inherent to each client’s unique situation.
  • We identify the role, risk and objective of each our clients’ investments.

This knowledge allows us either to validate or recommend changes to each client’s asset allocation.

What is our asset allocation and manager selection philosophy?

Asset Allocation Strategy:

  • Modern portfolio theory and macro economic themes (Demographics, Global Middle Class, Debt dynamics, Innovation)
  • Diversified portfolios that generally invest in stocks, bonds, real assets and alternatives
  • Allocation to specific benchmarks as opposed to global benchmarks
  • Have appropriate liquidity options and a disciplined risk management strategy
  • Use modest tactical shifts intended to enhance risk-adjusted return
  • The use of Core and Satellite investment structure

Manager Selection Strengths and Philosophy:

  • Our collective experience and judgment in traditional and alternative manager due diligence.
  • Understanding the performance dynamics of managers.
  • Knowing our exit strategy in advance.
  • Linking together quarterly reviews: Creating a business thesis on each manager.
  • We independently validate various research groups’ due diligence.

What is the primary difference between us and other investment management consultants?

We prepare clients to take advantage of opportunities as they present themselves. We are disciplined in monitoring risk and staying on policy targets.

Capitalizing On Events:

  • Dislocation
  • Valuation extremes
  • New investment opportunities

Risk Opportunity Examples:

  • Divergence in small cap value and large cap growth in 1999.
  • Recognizing warehouse credit line difficulties in 2007.

Return Opportunity Examples:

  • Purchasing secondary private equity positions in 2008.
  • Participation in the Temporary Asset Loan Facilities (TALF) in 2009.

One of our top concerns is liquidity. In market dislocation, entities without proper liquidity incur significant portfolio stress. Opportunity is at its highest point during these periods.

What do we bring to our relationships?

  • Advocacy for our clients
  • Undivided attention
  • Process and procedures
  • Entrepreneurial thinking
  • Experience and judgment
  • Care and skill
  • Accountability
  • Energy, conviction and passion