Galapagos Partners, L.P. (Houston)

Name: Galapagos Partners, L.P.
Address: 55 Waugh Drive, Houston, TX, 77007 5800
Telephone: 713-803-4326

Galapagos Partners, L.P. is a large advisory firm based in Houston. It manages $688.28 million of regulatory assets for 30 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Georgia and Texas.

Galapagos Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Galapagos Partners: assets under management

The assets under management (AUM) of Galapagos Partners, L.P. is $688.28 million. The firm's AUM has grown by 1178% since the beginning of its operation, and $2.93 million of the total AUM is attributable to clients outside of the United States.

The firm manages $248.48 million in discretionary accounts and $439.8 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $16.57 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $29.32 million.

Galapagos Partners has custody of $111.69 million in cash and securities for 6 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 54% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 17% of the firm’s portfolio. Investments in investment and business development companies form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Galapagos Partners, L.P. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Galapagos Partners serves?

The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of Galapagos Partners is high net worth individuals with 24 clients and $662.24 million of assets under management. Among the 7 most similar advisory firms, Galapagos Partners has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $688.28 million for 30 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.

Galapagos Partners also advises several private funds. Namely, two hedge funds and four other private funds. The minimum investment commitment required of non-related persons ranges from $50,000 to $500,000.

Careers at Galapagos Partners, L.P.

The company employs 12 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 4 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.

Stephen Paul Lack has served as the Chief Investment Officer since 1 Mar 2006. Brian Anderson joined the executive team most recently as the Chief Operating Officer/Chief Risk Officer/Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Stephen Paul Lack	Limited partner/chief investment officer	1 Mar 2006	50% - 75%	1578439
Llc Galapagos Gp	General partner	1 Mar 2006	Other	20-4503083
Llc Sal Partners	Limited partner	1 Mar 2006	25% - 50%	20-5747323
Brenda Rae Nemzin	Attorney/chief compliance officer	1 Apr 2007	Other	5323338
Naomi W. Hewitt	Chief financial officer	1 Mar 2012	Other	6039299
Brian Anderson	Chief operating officer/chief risk officer/chief compliance officer	1 Oct 2014	Other	5904258

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Harrison Stone Lack	Owner	1 Sep 2006	25% - 50%	5323363
Avery Maclean Lack	Owner	1 Sep 2006	25% - 50%	5323364
Lucy Milligan Lack	Owner	1 Sep 2006	25% - 50%	5323368

Based in Houston

The principal office where Galapagos Partners, L.P. performs its advisory services is located at 55 Waugh Drive, Houston, TX 77007 5800, which is also the mailing address of the firm. An additional office of the firm is in Atlanta, GA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 713-803-4326 or by fax 713-513-5204. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at gplp.com.