We utilize an institutional approach to asset management, seeking to maximize risk adjusted returns for large, long-term portfolios. We take advantage of the illiquidity premium achieved by investing in private asset classes (including private equity, private credit, and real estate). We have successfully invested in a wide range of illiquid assets since our inception and have earned a meaningful premium above public equity returns, while generating significant cash flows, which provide downside protection and decreased volatility.
We believe in a robust, comprehensive asset allocation and utilize open architecture in the construction of our portfolios. Consistent outperformance by active, public equity managers over market benchmarks is increasingly rare. For core positions in large capitalization stocks, we utilize tax-optimized passive management with low fees. For less efficient asset classes where manager outperformance is more achievable, we utilize carefully chosen active managers with long track records of outperformance.
We are particularly aware of the impact of taxes and fees on returns.
We believe socially responsible investing can be successfully implemented in portfolios without sacrificing return.