Spring Mountain Capital, LP (New York)

Name: Spring Mountain Capital, LP
Address: 650 Madison Avenue, New York, NY, 10022
Telephone: 212-292-8300

Spring Mountain Capital, LP is a large advisory firm based in New York. It manages $705.32 million of regulatory assets for 233 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of California, Connecticut, Delaware, and 7 other states.

Spring Mountain Capital provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and family office services and fixed income consulting. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Spring Mountain Capital: assets under management

The assets under management (AUM) of Spring Mountain Capital, LP is $705.32 million. The firm's AUM has grown by 152% since the beginning of its operation, and $7.83 million of the total AUM is attributable to clients outside of the United States.

The firm manages $702.83 million in discretionary accounts and $2.49 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $3.04 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.25 million.

Investments

The firm invests in state and local bonds the most. They account for 76% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 24% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Spring Mountain Capital, LP for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Spring Mountain Capital serves?

The firm provides services to charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Spring Mountain Capital is pooled investment vehicles with 11 clients and $283.14 million of assets under management. Among the 11 most similar advisory firms, Spring Mountain Capital has the 4th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $550 million for 181 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 3% of the firm’s clients are foreign persons or businesses.

Spring Mountain Capital also advises several private funds. Namely, four hedge funds and seven private equity funds. The minimum investment commitment required of non-related persons ranges from $0 to $2,000,000.

Careers at Spring Mountain Capital, LP

The company employs 26 people that are either part- or full-time employees. 65 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Spring Mountain Capital	General partner	1 Jun 2001	Other	13-4176269
John Laundon Steffens	Founder, senior managing director & limited partner	1 Jun 2001	75% - 100%	434535
Gregory Paul Ho	President, chief operating officer & limited partner	1 Jun 2001	25% - 50%	4577366
J Ezra Merkin	Limited partner	1 Jun 2001	Other	1490683
John L. Steffens 2001 Descendants' Trust	Limited partner	1 Oct 2001	25% - 50%	13-7331669
John Laundon Steffens	Investment trustee of john l. steffens 2001 descendants' trust	1 Oct 2001	25% - 50%	434535
Gregory Paul Ho	Trustee of john l. steffens 2001 descendants' trust	1 Oct 2001	25% - 50%	4577366
Jason L Orchard	Chief financial officer & managing director	1 Jun 2004	Other	5655547
Robert Ian Brous	Chief financial officer	1 Sep 2005	Other	5124248
Tara Constance Stever	Chief compliance officer & general counsel	1 Mar 2006	Other	5121904
Tara Constance Sharp	General counsel	1 Mar 2006	Other	5121904
Tara Stever Sharp	General counsel	1 Mar 2006	Other	5121904
Aaron David Deangelis	Chief compliance officer	1 Jan 2008	Other	4824419
Jason L Orchard	Managing director	1 Jun 2008	Other	5655547
Jason C Tsou	Principal - co-heads investment analyst group	1 Jun 2008	Other	5655543
Gregory Paul Sandukas	General counsel	1 Oct 2012	Other	6126386
Jeffrey Thomas Stomski	Chief financial officer	1 Nov 2014	Other	6459216
Robert Ian Brous	Chief financial officer	1 Aug 2015	Other	5124248
Kris Kyung Ho Woo	Chief financial officer	1 Feb 2017	Other	6764897

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Gregory Paul Ho	Trustee	1 Dec 2007	Other	4577366
John L. Steffens 2001 Descendants' Trust	Member	1 Dec 2008	25% - 50%	13-7331669

Based in New York

The principal office where Spring Mountain Capital, LP performs its advisory services is located at 650 Madison Avenue, New York, NY 10022, which is also the mailing address of the firm. An additional office of the firm is in West Windsor, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-292-8300 or by fax 212-292-8301. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at springmountaincapital.com.