Author: gregg.castano

Ballast Rock Group Announces Formation of Ballast Rock Capital, its SEC Registered Broker-Dealer

Ballast Rock Group Announces Formation of Ballast Rock Capital, its SEC Registered Broker-Dealer
CHARLESTON, SC – May 25, 2023 – 1:25 PM Eastern Time – Ballast Rock Group, the diversified investment management firm, today announced the formation of Ballast Rock Capital (BRC), its broker-dealer. BRC is a member of the Financial Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC) and is registered with the Securities and Exchange Commission (SEC).
BRC was approved by FINRA in April and began operations this month. The broker-dealer will initially handle transactions for Ballast Rock Asset Management.
“The creation of our broker-dealer is yet another step in the growth and development of Ballast Rock”, said Thomas Carroll, Founder and Chief Executive Officer of Ballast Rock Group. “Our evolution compelled us to seek approval for our own broker-dealer to best support our clients.”
Mr. Carroll, who held various leadership positions at Goldman Sachs and HSBC, will serve as CEO and Chief Compliance Officer of Ballast Rock Capital.
Ballast Rock Group launched in 2018, with a focus on the workforce multifamily housing market throughout the Southeast, creating income-generating, tax-shielded, diversified real estate funds with a positive social impact. The company later expanded into direct investment in clean energy, as well as venture capital.
Last year, Ballast Rock Group also launched Ballast Rock Private Wealth, an independent registered investment advisor with a focus on private-market investments.
“We have seen tremendous interest and attention to private market opportunities, and our broker-dealer allows us to have more flexibility to present attractive opportunities to investors and financial advisors on behalf of their own clients.” added Dirk Hall, Chief Operating Officer for Ballast Rock Group.

About Ballast Rock Group
Ballast Rock Group is an integrated investment management company specializing in delivering risk-adjusted returns, accurate, and timely advice, high quality frequent reporting, and direct access to management. Ballast Rock Group operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate, which includes the firm’s Sunbelt multifamily real estate funds, and Ballast Rock Ventures, comprising venture capital and private equity teams. Ballast Rock Private Wealth is a registered investment advisor, with a focus on alternative strategies. Ballast Rock Capital is awaiting approval to become a FINRA-registered broker-dealer. Ballast Rock is committed to being a driver of positive change. The diversity of our team members brings valuable new perspectives to our industry for the benefit of our stakeholders and the broader community.
Investment Disclosure
The information contained in this press release has been prepared by Ballast Rock Holdings LLC (“Ballast Rock”) without reference to any particular reader’s investment requirements or financial situation. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities. An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please consider carefully the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest. Ballast Rock Capital LLC (“BRC”), MEMBER: FINRA / SIPC. BRC’s registered head office is 460 King Street, Suite 200, Charleston, SC, 29403. Tel: 800-204-2513. To check background information about BRC and its representatives, visit FINRA’s BrokerCheck. Please see important disclosure information in our Form CRS.
Contact Details
For Ballast Rock
[email protected]
Company Website
https://www.ballastrock.com/
July 11, 2025
Ballast Rock Group Announces 2022 Year-End Performance of its Sunbelt Real Estate Funds

Ballast Rock Group Announces 2022 Year-End Performance of its Sunbelt Real Estate Funds
CHARLESTON, SC – January 5, 2023 – 11:40 AM Eastern Time – Ballast Rock Group, the diversified investment management firm, today announced 2022 year-end performance of its two multifamily real estate funds.
The Sunbelt Multifamily Fund I, which was launched in 2019, began dispositions in early 2022 by selling four of the nine assets held by the fund. These sales generated realized gross internal rates of return of 85% (2.17x Multiple on Invested Capital, “MOIC”), 61% (3.0x MOIC), 50% (2.52x MOIC) and 35% (2.3x MOIC), respectively, on each asset, for combined gross proceeds of $60,450,000. The 593 apartment units involved were acquired at an average cost of $53,583 per unit and sold at an average cost of $101,939 per unit.
Ballast Rock anticipates exiting the remaining five assets in Fund I opportunistically over the next 12 to 18 months.
Sunbelt Multifamily Fund II, which launched in 2021, will close on its final asset this month, which will mark the completion of the acquisition stage for the $105,363,000 total asset fund. In 2022, the fund acquired 471 units across three assets for $56,970,000.
Current income generation in the portfolio is ahead of Ballast Rock’s pro-forma expectations.
“We are pleased that our performance in 2022 validated our thesis that we have the right experience to acquire, manage and oversee value-add projects across our portfolio of workforce multifamily real estate assets,” said Thomas Carroll, Chief Executive Officer of Ballast Rock Group. “This performance is a shared success, since all of our principals invest our own capital alongside our investors, aligning our interests, and delivering safe, clean, and affordable homes for residents in our communities.”
Ballast Rock Group focuses on the workforce housing market throughout the Southeast, creating tax-shielded, diversified real estate funds with a positive social impact. Ballast Rock differentiates itself with high performance, frequent communication, detailed reporting, and ready access to the management team.
Ballast Rock anticipates launching its Sunbelt Multifamily Fund III in Q1 2023.
About Ballast Rock Group
Ballast Rock Group is an integrated investment management company specializing in delivering risk-adjusted returns, accurate, and timely advice, high quality frequent reporting, and direct access to management. Ballast Rock Group operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate, which includes the firm’s Sunbelt multifamily real estate funds, and Ballast Rock Ventures, comprising venture capital and private equity teams. Ballast Rock Private Wealth is a registered investment advisor, with a focus on alternative strategies. Ballast Rock Capital is awaiting approval to become a FINRA-registered broker-dealer. Ballast Rock is committed to being a driver of positive change. The diversity of our team members brings valuable new perspectives to our industry for the benefit of our stakeholders and the broader community.
Important Disclosure
The information contained in this press release has been prepared by Ballast Rock Holdings LLC (“Ballast Rock”) without reference to any particular reader’s investment requirements or financial situation. Past performance is not indicative of future results. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities. An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please consider carefully the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest.
Contact Details
For Ballast Rock
[email protected]
Company Website
https://www.ballastrock.com/
July 11, 2025
Ballast Rock Group Forms Ballast Rock Private Wealth to Provide Financial Advice to High-Net Worth Individuals with a Focus on Alternative Investments

Ballast Rock Group Forms Ballast Rock Private Wealth to Provide Financial Advice to High-Net Worth Individuals with a Focus on Alternative Investments
CHARLESTON, SC – November 28, 2022 – 9:26 AM Eastern Time – Ballast Rock Group, the diversified investment management firm, today announced the formation of Ballast Rock Private Wealth, an independently run, Registered Investment Advisor, to provide holistic financial advice to accredited high-net-worth individuals.
Ballast Rock Private Wealth will concentrate on individuals, families, business owners, entrepreneurs, and family offices seeking objective, unbiased guidance, with a particular focus on alternative investments. This builds on the growth of Ballast Rock Asset Management, which has deep experience in private equity, real estate, and venture capital investments.
“We formed Ballast Rock Private Wealth because we felt individuals and families would benefit from financial advisors who better understood how alternative investments fit into client portfolios,” said Thomas Carroll, Founder and Chief Executive Officer of Ballast Rock Group. “Given how the broader markets have performed, we know there is demand for advice that takes into consideration all suitable and appropriate options for a portfolio. Through this new offering, our RIA will be better equipped to give clients more investment options.”
Andrew Mescon has joined Ballast Rock Private Wealth as its CEO, while Christian Salomone will serve as the firm’s Chief Investment Officer. Mr. Mescon joined Ballast Rock Private Wealth from Integrity Financial Corp., where he was Vice President of Wealth Management. Mr. Salomone joins after serving as Managing Director at Bank of America and Goldman Sachs. Jason Thonssen has joined as Chief Compliance Officer and Director of Client Service, after previously working at Coldstream Wealth Management and Integrity Financial.
Ballast Rock Group is restructuring into three separate operating entities, including Ballast Rock Private Wealth. Ballast Rock Asset Management comprises Ballast Rock Ventures, which include the company’s private equity and venture capital holdings, and Ballast Rock Real Estate, which includes the firm’s Sunbelt multifamily real estate funds. Mr. Carroll will continue to lead both Ballast Rock Group and Ballast Rock Asset Management. Simon O’Shea remains the Chief Investment Officer of Ballast Rock Asset Management.
Ballast Rock Group is seeking regulatory approval for Ballast Rock Capital, a FINRA-regulated broker-dealer.
In addition, Ballast Rock Group has named Dirk Hall as Chief Operating Officer. Mr. Hall was most recently Chief Operating Officer of Impact Health and is the former Chief Executive Officer of medical technology company KKT International.
Ballast Rock Group also named Jana Ritt as Director of the Ballast Rock Foundation, the company’s charitable arm, which is committed to alleviating housing insecurity in all its forms.
“With the formation of our wealth management group and the restructuring of our business, Ballast Rock Group is in an ideal position to ensure that clients have their financial needs met reliably, creatively, and discreetly so that they may take command of their own financial future,” Mr. Carroll said. “The parallel strategies of our solutions and our guidance allow us to deliver on our mission to provide risk-adjusted returns, accurate and timely advice, high-quality frequent reporting, and direct access to management.”
About Ballast Rock Group
Ballast Rock Group is an integrated investment management company specializing in delivering risk-adjusted returns, accurate, and timely advice, high quality frequent reporting, and direct access to management. Ballast Rock Group operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate, which includes the firm’s Sunbelt multifamily real estate funds, and Ballast Rock Ventures, comprising venture capital and private equity teams. Ballast Rock Private Wealth is a registered investment advisor, with a focus on alternative strategies. Ballast Rock Capital is awaiting approval to become a FINRA-registered broker-dealer. Ballast Rock is committed to being a driver of positive change. The diversity of our team members brings valuable new perspectives to our industry for the benefit of our stakeholders and the broader community.
Contact Details
For Ballast Rock
[email protected]
Company Website
https://www.ballastrock.com/
July 11, 2025
Charles Krasne, CEO of Krasdale Foods, Dies at 94
Charles Krasne, CEO of Krasdale Foods, Dies at 94
WHITE PLAINS, NY – March 10, 2025 – 11:41 AM Eastern Time – Charles A Krasne, a pioneer in the grocery industry who presided over his family’s business, Krasdale Foods, for more than 50 years died on Friday, March 7. He was 94.
Only the second CEO in the company’s 117-year history, Charles transformed Krasdale Foods from a local wholesaler and distributor into a fully integrated grocery servicer and supplier, forming the company’s retail arm, which provided all manner of support to independent grocers, including advertising, marketing, merchandising and business services.
Under Charles’ leadership, Krasdale Foods became the largest voluntary supermarket group in the New York Metro Area via its banners C-Town, Bravo, Aim, Shop Smart and Stop 1, along with distributing to thousands of bodega and specialty stores. He also expanded the company’s footprint beyond its New York City roots. Today, Krasdale Foods serves independent grocery stores throughout the Northeast and Florida.
Charles Krasne was born on September 12, 1930. After graduating from Yale and earning his MBA from Harvard, he worked briefly alongside his father at Krasdale Foods but soon left to take a position at IBM. It was there that Charles recognized the critical role computers could play in developing efficiencies at every level of an organization.
When Charles returned to Krasdale Foods in the 1960s, he instituted an operational data processing and inventory management system that made the company one of the most efficient food distributors in the country, able to quickly turn over inventory while maintaining a 97% service level or fill rate.
In 1973, Charles arranged for Krasdale Foods to move from its small warehouse to the brand-new facility at the Hunts Point Food Distribution Center in the Bronx, becoming one of the first tenants recruited by the city to the new site.
Not long after, in the late 1970s, many large supermarket chains began moving out of New York, leaving a patchwork of small bodegas and grocery stores to fill the void. With the changed landscape, Charles recognized an opportunity to help these small business owners pool their resources to provide enhanced merchandising, marketing and business support, in addition to wholesaling and distribution. Charles unveiled the C-Town and Bravo banners while offering a wide-ranging business model that included providing financing and advising and arranging for services, including retail- technology, pricing, signage, etc.
Throughout his many years at the helm of Krasdale Foods, Charles helped to empower hundreds of small business owners, many of whom were first-generation Americans who would go on to own multiple stores now run by their children and grandchildren. He also took pride in giving back to the communities where Krasdale operates, hosting beloved events and activities and partnering with organizations such as the Yankees Foundation, Food Bank for New York City, and DreamYard to support underserved communities.
Even in recent years, Charles continued to evolve and expand the company. In 2002, after several longtime customers moved to Florida and inquired about opening new stores, Charles brought the Bravo banner to the Sunshine State.
As CEO, Charles has been a strong mentor, helping to elevate future leaders. Throughout his tenure, he recruited some of the best and brightest talent in the grocery industry, including Krasdale’s President and COO Gus Lebiak. Under his leadership, Charles built an exceptional leadership team poised to ensure success for Krasdale and its customers for the next hundred years.
Charles is survived by his four children, Fred (and Melissa Daley), Kenneth (and his fiancé, Cynthia Ramos), Thatcher (and Stacie) Krasne, and Kim Bacon, and seven grandchildren, Tess, Keira, Lily, Chloe, and Hudson Krasne, and Jeremy and Oliver Bacon. In addition, he is survived by his sister, Belle Ribicoff, and nieces Karen Wagner (and Dr. Jason Faller), Jane Wagner, and Dara Ribicoff. He was predeceased by his wife of more than 60 years, Ines Tamara Krasne, in 2018. He is also survived by his companion, Maria Velazquez.
Services for Mr. Krasne will be private.
Those wishing to honor Mr. Krasne’s legacy are asked to make a donation in his memory to NewYork-Presbyterian/Weill Cornell Medical Center.
Contact Details
For Krasdale Foods
Ray Hennessey, Vocatus
[email protected]
July 11, 2025
Krasdale Foods Announces Two Promotions and a New Hire at its Distribution Center and within its Business Initiatives and Finance Departments
Krasdale Foods Announces Two Promotions and a New Hire at its Distribution Center and within its Business Initiatives and Finance Departments
WHITE PLAINS, NY – June 3, 2025 – 9:04 AM Eastern Time – Krasdale Foods, the 117-year-old, family-owned business providing independent supermarkets with essential services, including grocery distribution, merchandising, marketing and financing, has announced three leadership changes, including two promotions and one new hire
The company’s new hires / promotions include:
Guillermo Fisher, a Krasdale employee of more than 40 years, has been promoted to General Manager / Warehouse Operations, with a focus on equipping the Krasdale Foods Distribution Center with the latest technology, including cloud-based systems and artificial intelligence, to provide data-driven efficiency and service. He has an MBA in management and serves as an advisory board member of Bronx Community College.
Rob Gangemi, who joined Krasdale in 2017 as the Corporate Controller, was promoted to Vice President / Finance where he will manage the entire finance department, with a focus on maintaining the company’s high standards of compliance while bringing insight and strategic focus to its business initiatives. During his tenure with the company, Rob reduced the monthly close by five days, developed more efficient/automated reconciling of reports and developed monthly updates for the CFO and president.
John Aleksandrowicz, who joined Krasdale in March as director, business initiatives, where he is responsible for identifying strategic-growth opportunities for the company and collaborating with retail customers to drive sales, improve in-store execution and meet evolving consumer needs. He was previously Senior Director of Grocery and GM/HBC Sales and Merchandising at Allegiance/Foodtown.
“I couldn’t be prouder of the team we have at Krasdale Foods, and Guillermo, Rob and John represent the best of this organization,” said Krasdale President Gus Lebiak. “On behalf of the entire Krasdale family, I want to congratulate Guillermo and Rob on their promotions, and welcome John to the team. We look forward to following their growth and celebrating what I’m confident will be their many successes in the years to come.”

About Krasdale
Krasdale is an independent, family-owned grocery distribution, merchandising, and marketing services company. For 117 years, Krasdale has supplied independent food markets with all the tools they need to succeed, helping to build and sustain multiple generations of successful enterprises. With its base of operations in New York, Krasdale has spread throughout the Northeast and Florida with store banners that include: C-Town, Bravo, Aim, Market Fresh, Shop Smart Food Markets and Stop 1 Food Mart.
Contact Details
Ray Hennessey, Vocatus
[email protected]
View source version on newsdirect.com: https://newsdirect.com/news/krasdale-foods-announces-two-promotions-and-a-new-hire-at-its-distribution-center-and-within-its-business-initiatives-and-finance-departments-426088485
July 11, 2025
Krasdale Foods Announces New Appointments and Expanded Roles Across Key Divisions
Krasdale Foods Announces New Appointments and Expanded Roles Across Key Divisions
WHITE PLAINS, NY – June 25, 2025 – 2:24 PM Eastern Time – Krasdale Foods, the premier grocery distributor in the New York Metro area, has announced a series of leadership appointments and role expansions across its Sales, Retail Technology, Customer Experience and Business Insights divisions.
“These changes reflect the exceptional talent within our organization and underscore our ongoing commitment to developing leaders who deliver results, foster a strong culture and support long-term growth,” said Krasdale Chief Sales and Customer Officer Cynthia Ramos. Each of these employees has demonstrated the dedication and drive necessary to elevate our customer experience and deliver operational excellence.”
New Roles and Appointments Include:
Natalie Menns has been appointed Director of Customer Experience, where she will oversee both Customer Service and Inside Sales. With nearly 20 years at Krasdale, Natalie has led major service model transformations, optimized costs and elevated support standards
Howie Kent has been named Director of Business Insights & Retail Technology. Over the past decade, Howie has played a vital role in developing the company’s reporting and in-store execution tools. In this expanded role, he will lead platform integration and analytics strategy.
Jose Torres has been promoted to Director of Sales. A U.S. Navy veteran and former independent grocery store owner, Jose brings over 20 years of retail and sales leadership experience, having most recently led field teams across the CTown, Bravo and AIM segments.
Carroll Arroyo has been elevated to Sales Supervisor – Inside Sales, where she will manage lead follow-up, CRM compliance and customer outreach. Carroll’s more than 20-year tenure at Krasdale includes cross-functional experience in Customer Service, Field Sales and Inside Sales.
Joey Lebiak joins the Business Insights team as Data Analyst, transitioning from his previous role supporting Alpha 1 Marketing. He will now contribute to enterprise reporting, pipeline visibility and sales analytics.
“At Krasdale, we believe our people are our greatest asset,” said Krasdale President and Chief Operations Officer Gus Lebiak. “These appointments reflect our commitment to recognizing talent, investing in leadership and continuing to build a strong foundation for the future. All five of these employees has made a lasting impact on our organization, and I’m confident they will continue to drive innovation, service excellence and growth for our retail partners.”
About Krasdale Foods
Krasdale Foods is a 117-year-old, family-owned business and the premier grocery distributor in the New York Metro area. With deep roots in the community and a mission to support independent grocers, Krasdale and its affiliate, Alpha 1 Marketing, provide full-service grocery distribution, merchandising and marketing solutions that help build and sustain multi-generational businesses. Headquartered in White Plains, N.Y., with a state-of-the-art distribution center strategically located in Hunts Point, Bronx, and a satellite office in Miami, Florida, Krasdale and its affiliates serve over 3,500 customers across eight states. Its diverse portfolio spans more than 14,000 SKUs across core categories such as Grocery, Refrigerated & Frozen, Produce, Meat & Deli, Bakery, Health & Beauty, Natural/Organic/Specialty and International. Krasdale proudly supports independent retailers operating under their trusted banners like CTown, Bravo, Aim, Market Fresh, Shop Smart Food Markets and Stop 1 Food Mart — bringing quality, value and personalized service to the communities they serve. For more information, visit www.krasdalefoods.com. Follow us on LinkedIn, Facebook, and Instagram.
Contact Details
For Krasdale Foods
Peter Page, Vocatus
[email protected]
Company Website
https://www.krasdalefoods.com/
July 11, 2025
Dokotoo Surpasses One Million Units Sold on Amazon Prime Day-Sets New Company Record
Dokotoo Surpasses One Million Units Sold on Amazon Prime Day-Sets New Company Record
Queens, New York, NY – July 11, 2025 – 8:15 AM Eastern Time –– On the first day of Amazon Prime Day 2025, Dokotoo, a women’s clothing brand rooted in technology thinking, set an amazing record: its single-day sales on Amazon US exceeded one million pieces for the first time, becoming one of the leaders in the women’s clothing category that day. Amazon’s official data shows that this achievement successfully ranked among the top three in the platform’s women’s clothing category single-day sales history.
“This is more like an unexpected gain from a technological experiment,” Kiki Chen, founder of the Dokotoo brand, admitted in an exclusive interview with Yahoo Finance. The original intention of this former Silicon Valley data analyst to establish the brand in 2019 was not to chase trends, but to try to solve a practical problem that troubled professional women – how to efficiently obtain highly adaptable, comfortable and cost-effective workplace clothing.
“When I was working in a technology company, I found that many female colleagues, like me, spent too much decision-making energy on commuting outfits,” Kiki recalled, “We want to reconstruct the clothing design process with data and engineering thinking.” Dokotoo’s core design team is composed of data scientists and senior pattern designers. By analyzing the body shape data of millions of North American women, they have established a unique adaptive pattern model.
The growth of a brand is not a smooth journey. During the global supply chain crisis in 2022, Dokotoo faced the dual pressures of surging costs and delayed delivery. “At that time, we decisively suspended the development of new products and invested all resources in ensuring the production and delivery of core products,” Kiki said. “That year we lost short-term growth, but kept the long-term asset of user trust.”
When asked about her outlook for the future, Kiki emphasized experience upgrades rather than simply expanding in scale: “One million sales is an important milestone, but Dokotoo’s goal has always been to solve practical problems. We are developing an AI-based virtual fitting and personalized recommendation system, which we plan to integrate into the Amazon store in 2026. The real value lies not in how many clothes are sold, but in how much decision-making time is saved for each consumer and how much confidence it brings.
About Dokotoo
Dokotoo is a contemporary women’s apparel brand focused on delivering durable, design-led wardrobe staples. Known for its innovation in lightweight knitwear and fabric development, the company combines functionality with timeless style. Operating primarily through Amazon U.S., Dokotoo continues to create product lines that respond to the evolving needs of modern consumers.
Media Contact
Organization: Amazon Dokotoo Clothing Brand Co., Ltd.
Contact Person Name: Joe kay
Website: https://www.amazon.com/Dokotoo-Boyfriend-Oversized-Trucker-Vintage/dp/B09RDXDVNC
Email: [email protected]
City: Queens New York
July 11, 2025
Should More Pensions Adopt Tampa Police and Fire’s Pure Stock-Picking Approach? MPI Analysis Finds its Results Could Easily be Replicated through a More Diversified Approach Instead

Should More Pensions Adopt Tampa Police and Fire’s Pure Stock-Picking Approach? MPI Analysis Finds its Results Could Easily be Replicated through a More Diversified Approach Instead
SUMMIT, NJ – July 1, 2025 – 9:00 AM Eastern Time – Markov Processes International, Inc. (“MPI”), a leading provider of investment technology, analytics, research and indices for the global investment management industry, today released significant institutional research analyzing the $3.2 billion City of Tampa Fire and Police Pension Fund that shows that the fund, long known for returns through a stock-picking approach uncommon in pensions and endowments, actually is a validation of the less risky principles of broader diversification and index investing.
Tampa Fire and Police has been an outlier among pensions and endowments, using a single manager in Bowen, Hanes & Co., and employing an investment approach that relies heavily on selecting single stocks. Traditionally, pensions and endowments take a more diversified approach, and their investments follow Modern Portfolio Theory, which stresses the importance of diversification in managing risk. MPI’s study represents the first rigorous, data-driven examination of Bowen’s performance, offering quantitative clarity after decades of unchallenged praise and lingering doubts about its authenticity.
MPI’s proprietary analysis, calculated using MPI’s Stylus Pro software, performed a returns-based analysis of performance of Tampa Fire and Police – which has notably outperformed or matched its benchmarks in nine of the last 10 years – and found that it could be replicated with a more diversified approach. Indeed, MPI’s Stylus Pro created a long-only portfolio of market indices which credibly (and predictively) mimics the fund’s return.
“While the eye-popping stock-picking has made the managers at Bowen seem like modern-day Warren Buffetts, the truth is much more mundane and instructive for other institutional money managers,” said Michael Markov, Founder and Chief Executive Officer of MPI. “We know that once a portfolio reaches a certain size, individual stock picks blend into thematic exposures, like the “Magnificent Seven” tech stocks. Active managers spending their days on bottom-up research might rather want to concentrate on whether similar results could be obtained in less risky ways, such as through a basket of ETFs.”
The analysis did show that Bowen’s approach did present moderately higher risk than other pensions and endowments, but it was only moderately higher than other equity-heavy public pensions. And, in terms of efficiency, the fund’s Sharpe ratio was better than its benchmark.
Still, the findings of MPI’s analysis indicate that managers who base their diversified strategies on the Nobel-prize winning Modern Portfolio Theory have the potential to achieve similar returns, without having to hustle to pick the right stocks.
“Diversification works,” Markov said. “Whether or not one believes in volatility or correlation matrices, our analysis validates what Modern Portfolio Theory suggested. There’s little true alpha left in managing a $3 billion liquid portfolio through stock-picking alone.”
The full report can be found here.
For additional information on MPI’s research or to get a demo of its Stylus Pro software, please contact MPI at +1 (908) 608-1558 or [email protected].
About MPI
Markov Processes International Inc. (MPI) is a leading provider of solutions for investment research, analysis and reporting to the global wealth and investment management industry. MPI works with more than 200 client organizations, including pensions and endowments, sovereign wealth funds, global wealth management firms, institutional consultants, regulators, investment advisors and asset managers. Rooted in the principles of transparency, objectivity, and efficiency, MPI takes an innovative approach to problem solving in the areas of fund analysis, risk management, asset allocation, and reporting to ensure that its clients have the tools to succeed in ever-more-crowded markets. Follow us on Twitter @MarkovMPI and connect with us on LinkedIn.
Contact Details
For MPI
Ray Hennessey, Vocatus
[email protected]
July 10, 2025
Concentrated Global Equity Fund Tourbillon Announces Availability to Qualified US Investors
Concentrated Global Equity Fund Tourbillon Announces Availability to Qualified US Investors
LONDON, UK -April 11, 2024 – 09:06 AM EDT – Tourbillon Investment Management Ltd. (an appointed representative of Eschler Asset Management LLP) today announced the availability of their concentrated global equity fund to qualified US Investors. Led by experienced investors Ben Beneche and Ramesh Narayanaswamy, the fund invests in 15 to 25 durable, high-quality companies globally which they believe are priced to deliver superior absolute returns over the long-term.
As long-time friends and now partners, Beneche and Narayanaswamy share a common value investing philosophy. Focusing on first-principles thinking, they identify high-quality businesses through the lens of three ‘deep truths’: symbiotic loops, fulcrum assets and outlier management.
“We believe that forward-looking qualitative judgments are far more important than backward-looking quantitative approaches,” said Beneche. “Our emphasis, always, is identifying businesses which we believe can endure over decades, a feat that very few companies achieve.”
While many asset managers are focused on relative performance based on short-term earnings beats and misses, Tourbillon invests with a 5-10 year horizon, prioritizing absolute returns, management alignment, and valuing companies on distributable cashflows or ‘owner earnings’.
“The world is just emerging from a long period of low interest rates,” said Narayanaswamy. “Looking out over the next decade and beyond, our absolute value orientation and focus on durable quality will serve clients well. Though we measure our investment results over years and decades, we are pleased with our returns profile as we approach the first anniversary of our launch.”
The firm invests in companies across geographies, sectors, and market caps. This unconstrained approach, combined with a focus on a select few investments, has resulted in a distinctive collection of unique companies in its portfolio.
“As a fund, we are concentrated in the best companies where we have the most conviction,” said Beneche. “Although our mandate is broad, there are very few companies which fit the criteria we are looking for, and even fewer which trade at prices that make sense to us. Today, we are finding the most interesting opportunities outside the US, specifically in smaller companies based in the UK and Japan.”
Beneche and Narayanaswamy, co-founders and Portfolio Managers, bring extensive yet complementary experience in asset management.
Beneche was a senior portfolio manager and co-lead of international equities at Pictet Asset Management, a global financial institution with a 200-year pedigree serving some of the world’s largest pension funds, financial institutions, sovereign wealth funds and intermediaries. For 10 years, he managed several billion dollars in all-cap international portfolios for predominantly institutional clients.
Narayanaswamy previously served as partner and portfolio manager at Veritas Asset Manager LLP, a leading global and Asian equities manager of funds and segregated portfolios for institutional investors globally. In this role, Narayanaswamy spent 11 years in global cross-sector fundamental equity research in concentrated equity strategies, as well as portfolio management. Before Veritas, he was a global industrials and utilities analyst and sector portfolio manager at Fidelity Management & Research for 5 years.
“The investment management industry does not always put the client first. But we do,” Narayanaswamy said. “Our core value is shared ownership. Ben and I share equal ownership of the business and our portfolio. We invest in companies that share our long-term orientation. We seek clients who share our philosophy, investing alongside them on the same terms. We also pledge to donate a portion of our profits to charity.”
About Tourbillon Investment Management
Tourbillon Investment Management is a long-only public equity fund investing in 15 to 25 businesses globally using a fundamental, value-oriented approach. Named after the mechanism in a mechanical watch that prevents errors caused by gravity, Tourbillon Investment Management favors companies that seemingly defy gravity by remaining durably high quality. The firm aims to deliver superior absolute returns over the long term without taking undue risk. Tourbillon Investment Management’s fund is designed to deliver strong risk-adjusted returns with significant variance from market averages. Tourbillon Investment Management Ltd is an appointed representative of Eschler Asset Management LLP which is authorised and regulated by the Financial Conduct Authority (# 510079) and a registered Investment Advisor with the SEC.
Contact Details
For Tourbillon Investment Management
[email protected]
Company Website
https://www.tourbillonpartners.co.uk/
July 10, 2025
Roberston Stephens Ends 2024 with $7.1 Billion in Assets, Marking 45% Annual Growth
Roberston Stephens Ends 2024 with $7.1 Billion in Assets, Marking 45% Annual Growth
San Francisco, CA -January 16, 2025 at 10:00 AM EST Robertson Stephens Wealth Management, LLC (“Robertson Stephens”), today announced that it ended 2024 with $7.1 billion in advisory assets under management, marking 45% growth over the preceding 12 months.
Last year, Robertson Stephens completed five acquisitions, adding or increasing presences in the Chicago area, Connecticut, Oregon, and Colorado.
“This was a year of continued growth, reflecting a validation in the industry of our culture and differentiation,” said Raj Bhattacharyya, Chief Executive Officer of Robertson Stephens. “We recognize that trust is earned, and we are pleased that our approach to providing comprehensive wealth plans and tailored investment portfolios resonates with advisors and clients alike.”
With 2024’s acquisitions, Roberston Stephens now operates 24 offices located in San Francisco, Marin County, Menlo Park, Santa Rosa, Pasadena, San Ramon & Burlingame (CA), Denver, Vail & Colorado Springs (CO), Westport (CT), Sun Valley & Boise (ID), West Palm Beach (FL), Boston (MA), Holmdel & Madison (NJ), New York (NY), Portland (OR), Austin & Houston (TX), Seattle (WA), Jackson (WY), and now North Barrington (IL).
Additionally, last year, Robertson Stephens was named to USA Today’s list of Best Financial Advisory Firms, FA Magazine’s list of Top 50 Fastest Growing Firms 2024, Forbes’s list of 2024 America’s Top RIA Firms, Barron’s list of 2024 Top 100 RIA Firms, Newsweek’s list of America’s Top Financial Advisory Firms 2025, and ThinkAdvisor’s 2024 Luminaries Award for Firm Innovation.
About Robertson Stephens
Robertson Stephens Wealth Management, LLC is an independent SEC-registered investment advisor. Registration does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Its mission is to transform the wealth management experience by delivering institutional-quality investment solutions, comprehensive wealth planning, and intelligent digital solutions, all within a fiduciary relationship where the client is our highest priority. Robertson Stephens AUM are as of December 2024. For more information about Robertson Stephens, please visit: https://www.rscapital.com.
Contact Details
Peter Page
[email protected]
Company Website
https://rscapital.com/
July 10, 2025