New Providence Asset Management L.P. is a large advisory firm based in New York. It manages $2.55 billion of regulatory assets for 18 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdiction of New York.
New Providence Asset Management provides portfolio management for individuals and small businesses, 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.
The assets under management (AUM) of New Providence Asset Management L.P. is $2.55 billion. The firm's AUM has grown by 145% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has a single stream of revenue. Clients pay New Providence Asset Management L.P. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Raphael Joseph Delagueronneire is pooled investment vehicles with 3 clients and $699.28 million of assets under management. Among the 9 most similar advisory firms, New Providence Asset Management has the 4th highest percentage of pooled investment vehicles out of all clients.
The amount of regulatory assets under management is $1.78 billion for 14 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.
New Providence Asset Management also advises several private funds. Namely, three other private funds. The minimum investment commitment required of non-related persons ranges from $1,000,000 to $10,000,000.
The company employs 20 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.
There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
Raphael Joseph Delagueronneire has been acting as President since 1 May 2003. John Philip Paduano joined the executive team most recently as the Managing Director.
The principal office where New Providence Asset Management L.P. performs its advisory services is located at 570 Lexington Ave., New York, NY 10022, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 646-292-1200 or by fax 646-292-1299. The normal business hours are 8:30am - 6:00pm on Monday - Friday. You can find more information about the New York firm at newprov.com.