Clarion Partners, LLC (New York)


Clarion Partners, LLC is a large advisory firm based in New York. It manages $51.78 billion of regulatory assets for 39 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of California, District of Columbia, Georgia, and Texas.

Clarion Partners provides portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Clarion Partners: assets under management

The assets under management (AUM) of Clarion Partners, LLC is $51.78 billion. The firm's AUM has grown by 129% since the beginning of its operation, and $2.53 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $39.36 billion in discretionary accounts and $12.42 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.51 billion each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $955.61 million.
Clarion Partners has custody of $134.71 million in cash and securities for 17 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Clarion Partners, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Clarion Partners serves?

The firm provides services to insurance companies, other investment advisers, pooled investment vehicles, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, state or municipal government entities, and sovereign wealth funds and foreign official institutions. The largest group of clients of Clarion Partners is pooled investment vehicles with 15 clients and $32.43 billion of assets under management. Among the 8 most similar advisory firms, Clarion Partners has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $51.78 billion for 39 clients. 10% of the firm’s clients are foreign persons or businesses.

Clarion Partners also advises several private funds. Namely, two hedge funds and eleven real estate funds. The minimum investment commitment required of non-related persons ranges from $0 to $10,000,000.

Careers at Clarion Partners, LLC

The company employs 258 people that are either part- or full-time employees. 61 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 5 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.

David Joseph Gilbert has served as the Chief Investment Officer since 1 Oct 2010 and Stephen Joel Furnary is the Chief Executive Officer of Clarion Partners, LLC family office. Susan Marie Boccardi joined the executive team most recently as the General Counsel & Chief Compliance Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Stephen Joel Furnary Chief executive officer 1 Nov 1998 Other 2583676
Stephen B. Hansen Head of seperately managed accounts 1 Sep 1999 Other 5283026
C. Stephen Cordes Executive officer 1 Jan 2003 Other 4646753
Stephen B. Hansen Executive officer 1 Jan 2004 Other 5283026
Patrick James Tully Chief financial officer 1 Jan 2006 Other 2954150
Craig Richard Tagen Head of asset management 1 Jan 2008 Other 1159702
Nathaniel Kiernan General counsel & chief compliance officer 1 Jul 2008 Other 5241175
David Joseph Gilbert Chief investment officer 1 Oct 2010 Other 1747016
Clarion Partners Holdings Llc Managing member 1 Jun 2011 75% - 100% 35-2409831
Jeffrey Hugh Macdonnell Chief marketing officer 1 Mar 2014 Other 2902271
Stephen P Latimer Head of separately managed accounts 1 May 2016 Other 6642787
Stephen Joel Furnary Executive chairman 1 May 2017 Other 2583676
David Joseph Gilbert Chief executive officer & chief investment officer 1 May 2017 Other 1747016
Edward Louis Carey Executive board member 1 Apr 2018 Other 2523808
Ralph J Belford Executive board member 1 Apr 2018 Other 6959313
Susan Marie Boccardi General counsel & chief compliance officer 1 Jul 2019 Other 4881252

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
L.P. Lightyear Fund Iii Aiv Member 1 Jun 2011 50% - 75% 38-3842139
Inc. Legg Mason Member 1 Apr 2016 75% - 100% 52-1200960

Based in New York

The principal office where Clarion Partners, LLC performs its advisory services is located at 230 Park Avenue, New York, NY 10169, which is also the mailing address of the firm. An additional office of the firm is in Dallas, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-883-2500 or by fax 212-883-2700. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at clarionpartners.com and its LinkedIn profile.