40 North Management LLC (New York)

Name: 40 North Management LLC
Address: 9 West 57 Th Street, New York, NY, 10019
Telephone: 212-821-1600

40 North Management LLC is a large advisory firm based in New York. It manages $2.6 billion of regulatory assets for 6 client accounts. It has been registered with the SEC as an adviser since 2014.

40 North Management 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.

40 North Management: assets under management

The assets under management (AUM) of 40 North Management LLC is $2.6 billion. The firm's AUM has grown by 47% since the beginning of its operation, and $2.41 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $2.51 billion in discretionary accounts and $85.01 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $502.9 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $85.01 million.

40 North Management has custody of $62.81 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay 40 North Management LLC 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.

What kind of clients 40 North Management serves?

The firm provides services to pooled investment vehicles and corporations or other businesses. The largest group of clients of 40 North Management is pooled investment vehicles with 8 clients and $2.6 billion of assets under management. Among the 10 most similar advisory firms, 40 North Management has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $2.6 billion for 9 clients. 11% of the firm’s clients are foreign persons or businesses.

40 North Management also advises several private funds. Namely, three hedge funds, one real estate fund, and three other private funds. The minimum investment commitment required of non-related persons ranges from $0 to $1,000,000.

Careers at 40 North Management LLC

The company employs 43 people that are either part- or full-time employees. 30 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 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
David Scott Winter	Member	1 Feb 2009	50% - 75%	3260157
David James Millstone	Member	1 Feb 2009	50% - 75%	6025336
Lawrence Vincent Palermo	Chief financial officer	1 Jan 2011	Other	6025311
Howard Judah Zauderer	Cco/gc	1 Feb 2012	Other	1698060
Michael Kenneth Owens	Chief financial officer	1 Jan 2013	Other	4885794
Ethan Howe Leidinger	Chief operating officer	1 May 2013	Other	4221922
Barry John Giarraputo	Chief operating officer	1 Jan 2015	Other	4132675
Tunde Jain Reddy	Chief financial officer	1 Jan 2016	Other	4445014

Based in New York

The principal office where 40 North Management LLC performs its advisory services is located at 9 West 57 Th Street, New York, NY 10019, 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 212-821-1600 or by fax 212-821-1638. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at 40north.com.