Partners Capital

Last updated
Partners Capital Investment Group, LLC
TypePrivately held company
Industry Outsourced Investment Management
Founded2001
Headquarters London, [1] Paris, [2] Boston, New York, San Francisco, [1] Hong Kong, and Singapore
Key people
Arjun Raghavan (CEO) [3]

Stan Miranda (Founder and Chairman) [4]

Paul Dimitruk (Co-founder and Senior Partner)
AUM $50 billion (March 2023) [3]
Number of employees
320 (March 2023)
Website Partners-Cap.com

Partners Capital Investment Group, LLC is an outsourced investment office (OCIO) that serves endowments, foundations, pensions, investment professionals, and high-net-worth families in Europe, North America and Asia. As of 30 June 2023, the 320-person firm had over US$50 billion in assets under management. [5]

Contents

Overview

Partners Capital acts as the OCIO to endowments, foundations and high-net-worth private clients. [6] [7] Its private clients are primarily money managers, including senior partners and founders of investment firms. [5] [8] The firm was founded in London in 2001 by Stan Miranda and Paul Dimitruk. Since its inception, the firm has grown from US$10 million in assets to over US$50 billion in 2023. Today, the firm has offices in Boston, New York, San Francisco, Paris, Singapore and Hong Kong, in addition to London, and has over 320 employees. [5]

The firm invests exclusively with unaffiliated managers with which it shares no economics. It is the firm’s belief that the OCIO’s role should be entirely separate from the role of managing assets. [9] [10]

Partners Capital has commented publicly about the need for the ”Yale Model” of endowment investing to evolve to reflect key lessons of the global financial crisis. [11]

Notable clients

Partners Capital has clients globally. Notable European institutional clients include individual colleges at Cambridge and Oxford universities, Eton College, INSEAD, the Royal Academy of Arts, the National Gallery Trust and Guy's and St. Thomas' Charity. [12]

Notable US institutional clients include the Research Foundation for the State University of New York’s University System, [13] Syracuse University, [14] Milton Academy, [15] the Berkshire School, the Los Angeles Museum of Contemporary Art, and the Cancer Research Institute. [16]

Founders

Prior to Partners Capital, Stan Miranda was a partner at Bain and Company, specializing in private equity. [17] [18] Paul Dimitruk was a co-founder, chairman and CEO of asset manager Pareto Partners and prior to that a partner at Investcorp, where he specialized in private equity. [8] [19]

Related Research Articles

In the field of finance, private equity (PE) is stock in a private company that does not offer stock to the general public. Private equity is offered instead to specialized investment funds and limited partnerships that take an active role in the management and structuring of the companies. In casual usage, "private equity" can refer to these investment firms rather than the companies that they invest in.

<span class="mw-page-title-main">Neuberger Berman</span> American financial services firm

Neuberger Berman Group LLC is a private, independent, employee-owned investment management firm. The firm manages equities, fixed income, private equity and hedge fund portfolios for global institutional investors, advisors and high-net-worth individuals.

<span class="mw-page-title-main">Russell Investments</span> Investment firm headquartered in Seattle, Washington

Russell Investments Group LLC is an investment firm headquartered in Seattle, Washington.

Wilshire Associates, Inc. is an American independent investment management firm that offers consulting services and analytical products and manages fund of funds investment vehicles for a global client base. Wilshire manages capital for more than 600 institutional investors globally representing more than $8 trillion of capital. Wilshire is also known for the creation of the Wilshire 5000 stock index in 1974 and more recently the Wilshire 4500 stock index.

<span class="mw-page-title-main">Wellington Management Company</span> American investment management firm

Wellington Management Company is a private, independent investment management firm with client assets under management totaling over US$1 trillion based in Boston, Massachusetts, United States.

<span class="mw-page-title-main">Goldman Sachs Capital Partners</span> Private equity firm

Goldman Sachs Capital Partners is the private equity arm of Goldman Sachs, focused on leveraged buyout and growth capital investments globally. The group, which is based in New York City, was founded in 1986.

<span class="mw-page-title-main">Lexington Partners</span> Private equity company

Lexington Partners is one of the largest manager of secondary acquisition and co-Investment funds in the world, founded in 1994. Lexington manages approximately $55 billion of which an unprecedented $14 billion was committed to the firm's ninth fund, the largest dedicated secondaries pool of capital ever raised at the time.

<span class="mw-page-title-main">Stichting Pensioenfonds ABP</span> Pension fund for government employees in the Netherlands

Stichting Pensioenfonds ABP, frequently referred to as ABP, is the pension fund for government and education employees in the Netherlands. For the quarter ended 31 December 2014, ABP had 2.8 million participants and assets under management of €344 billion, making it the largest pension fund in the Netherlands and among the five largest pension funds in the world as at September 2016.

AlpInvest Partners is a global private equity asset manager with over $85 billion of committed capital since inception as of December 31, 2022. The firm invests on behalf of more than 450 institutional investors from North America, Asia, Europe, South America and Africa.

<span class="mw-page-title-main">PGIM</span> American Investment Management firm

PGIM, Inc. (PGIM), formerly known as Prudential Investment Management, functions as the asset management arm of Prudential Financial, an American life insurance company.

<span class="mw-page-title-main">HarbourVest Partners</span> American private equity fund of funds

HarbourVest Partners is a private equity fund of funds and one of the largest private equity investment managers globally. The firm invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also directly in operating companies.

Partners Group Holding AG is a Swiss-based global private equity firm with US$141.7 billion in assets under management in private equity, private infrastructure, private real estate and private debt.

The chief investment officer (CIO) is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as the liaison with investors, and recognize and avoid serious risks, including those never before encountered.

Impact investing refers to investments "made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return". At its core, impact investing is about an alignment of an investor's beliefs and values with the allocation of capital to address social and/or environmental issues.

<span class="mw-page-title-main">GCM Grosvenor</span> American alternative asset management firm

GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.

<span class="mw-page-title-main">Affiliated Managers Group</span> American Investment Company

Affiliated Managers Group, Inc. is a strategic partner to independent investment management firms globally, with equity stakes in a number of partner-owned traditional investment managers, hedge funds, and specialized private equity firms which it calls “Affiliates.” The company has principal offices in West Palm Beach, Florida; Prides Crossing, Massachusetts; Stamford, Connecticut; and London, United Kingdom. The company was founded in December 1993 by William J. Nutt in Boston, Massachusetts, as a privately owned company with initial backing from TA Associates; Its initial public offering on the New York Stock Exchange occurred in November 1997. Today, AMG’s Affiliates manage $651 billion in assets in aggregate.

LaSalle Investment Management ("LaSalle") is a real estate investment management firm. It is an independent subsidiary of JLL.

Investment outsourcing is the process whereby institutional investors and high-net-worth families engage a third party to manage all or a portion of their investment portfolio. This arrangement can include functions such as establishing the asset allocation, selecting investment managers, implementing portfolio decisions, providing on-going oversight, performing risk management and other areas of portfolio management.

<span class="mw-page-title-main">Cambridge Associates</span> Privately held investment firm based in the United States

Cambridge Associates is a privately held investment firm based in the United States. It provides investment portfolio management and advisory services to institutional investors, including foundations and endowments, pensions, private clients, and corporate and government entities.

Based in Connecticut, Commonfund is an American asset management firm founded in 1971 with a seed grant from the Ford Foundation. As a private nonprofit organization, the firm manages customized investment programs for endowments, foundations, public pension funds, and other mission-driven institutions. The organization has additional offices in New York City, San Francisco, London, and Beijing.

References

  1. 1 2 "Partners Capital Opens West Coast Office". Partners Capital (Press release). 12 December 2018. Retrieved 23 September 2020.
  2. ↑ "Partners Capital Opens Paris Office". Partners Capital (Press release). February 4, 2019. Retrieved 23 September 2020.
  3. 1 2 "Arjun Raghavan new CEO of Partners Capital". Partners Capital (Press release). 6 July 2020. Retrieved 23 September 2020.
  4. ↑ "Team". Partners Capital. Retrieved 23 September 2020.
  5. 1 2 3 Company Website, retrieved October 5, 2021.
  6. ↑ Leanna Orr, "OCIO Industry Snaps Up Another Elite E&F Alum," Chief Investment Officer , January 19, 2016.
  7. ↑ "Endowments steal a march on pension funds," Global Investor Magazine, June 9, 2005.
  8. 1 2 Drew Carter, "Institutional assets growing at Partners; Wealth manager uses circle of friends to boost endowment, foundation business," Pensions & Investments , November 30, 2009.
  9. ↑ Danielle Levy, "Wealth Manager: Stan Miranda of Partners Capital on the rise of the private investment office," Citywire , January 20, 2011.
  10. ↑ Mike Foster, "How to win friends and affluent people," Financial News , June 1, 2010.
  11. ↑ "Advancing the Yale model to reflect new market dynamics," Pensions & Investments , February 22, 2016.
  12. ↑ "Meet Paul Dimitruk of Partners Capital Investment Group in Financial District - Boston Voyager Magazine | Boston City Guide" . Retrieved 2017-11-10.
  13. ↑ Brooke Masters, "Cambridge endowments buoy Partners," Financial Times , June 8, 2009.
  14. ↑ Horvath, Jennifer (February 4, 2020). "Syracuse University Selects Partners Capital as New Outsourced Chief Investment Officer". SU News. Retrieved 23 September 2020.
  15. ↑ Cathleen Everett, "Behind the Humming Sound at Milton: The Answers in Dollars and Sense," Milton Magazine, October 7, 2015.
  16. ↑ "Partners Capital pushes into Asia," Financial News , October 3, 2011.
  17. ↑ John Arlidge, "The New Banks that Cost You £25M to Join," London Evening Standard , December 7, 2007.
  18. ↑ "The GPs' GP heads east," Private Equity International , November 1, 2010.
  19. ↑ "Paul Arthur Dimitruk," Bloomberg News, retrieved March 2, 2016.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.