Gabby Riggione No Comments

04-28-2017 Convergence Daily ADV Filing Changes

04-28-2017 Convergence Daily ADV Filing Changes

6 New SEC-Registered Investment Advisors
8 New Private Funds
1 New Sub-Advised Funds
15 #RIA #Headcount Changes
15 C-Suite Updates
8 #Regulatory Authority Reporting Changes
8 #Auditor Appointments for New #Funds
8 #Administrator Appointments for New #Funds
35 Changes to #RAUM
2 Administrative Services Provider Changes
3 #Auditor Services Provider Changes
2 #Custodial Services Provider Changes
2 #PrimeBrokerage Service Provider Changes
7 #Marketing Services Provider Changes

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.

Gabby Riggione No Comments

04-27-2017 Convergence Daily ADV Filing Changes

04-27-2017 Convergence Daily ADV Filing Changes

4 New SEC-Registered Investment Advisors
23 New Private Funds
1 New Sub-Advised Funds
14 #RIA #Headcount Changes
11 C-Suite Updates
23 #Auditor Appointments for New #Funds
23 #Administrator Appointments for New #Funds
29 Changes to #RAUM
3 Administrative Services Provider Changes
8 #Auditor Services Provider Changes
6 #Custodial Services Provider Changes
1 #PrimeBrokerage Service Provider Changes
1 #Marketing Services Provider Changes

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.

Gabby Riggione No Comments

04-26-2017 Convergence Daily ADV Filing Changes

04-26-2017 Convergence Daily ADV Filing Changes

4 New SEC-Registered Investment Advisors
9 New Private Funds
24 #RIA #Headcount Changes
13 C-Suite Updates
9 #Auditor Appointments for New #Funds
9 #Administrator Appointments for New #Funds
13 Changes to #RAUM
1 Administrative Services Provider Changes
2 #Custodial Services Provider Changes
3 #PrimeBrokerage Service Provider Changes

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.

Gabby Riggione No Comments

04-25-2017 Convergence Daily ADV Filing Changes

04-25-2017 Convergence Daily ADV Filing Changes

7 New SEC-Registered Investment Advisors
4 New Private Funds
14 #RIA #Headcount Changes
4 #Auditor Appointments for New #Funds
4 #Administrator Appointments for New #Funds
27 Changes to #RAUM
2 Administrative Services Provider Changes
3 #Auditor Services Provider Changes
3 #Custodial Services Provider Changes
1 #PrimeBrokerage Service Provider Changes
1 New Civil, Criminal, and Regulatory #Violations

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.

Gabby Riggione No Comments

04-23-2017 Convergence Daily ADV Filing Changes

04-23-2017 Convergence Daily ADV Filing Changes

25 New SEC-Registered Investment Advisors
18 New Private Funds
3 New Sub-Advised Funds
28 #RIA #Headcount Changes
17 C-Suite Updates
3 #Regulatory Authority Reporting Changes
18 #Auditor Appointments for New #Funds
18 #Administrator Appointments for New #Funds
20 Changes to #RAUM
1 Administrative Services Provider Changes
1 #Auditor Services Provider Changes
6 #Custodial Services Provider Changes
1 #PrimeBrokerage Service Provider Changes
1 #Marketing Services Provider Changes

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.

Gabby Riggione No Comments

04-21-2017 Convergence Daily ADV Filing Changes

04-21-2017 Convergence Daily ADV Filing Changes

6 New SEC-Registered Investment Advisors
25 New Private Funds
1 New Sub-Advised Funds
27 #RIA #Headcount Changes
8 C-Suite Updates
30 #Regulatory Authority Reporting Changes
25 #Auditor Appointments for New #Funds
25 #Administrator Appointments for New #Funds
28 Changes to #RAUM
1 Administrative Services Provider Changes
2 #Auditor Services Provider Changes
1 #Custodial Services Provider Changes
2 #Marketing Services Provider Changes

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.

Gabby Riggione No Comments

04-20-2017 Convergence Daily ADV Filing Changes

04-20-2017 Convergence Daily ADV Filing Changes

8 New SEC-Registered Investment Advisors
17 New Private Funds
25 #RIA #Headcount Changes
9 C-Suite Updates
6 #Regulatory Authority Reporting Changes
17 #Auditor Appointments for New #Funds
17 #Administrator Appointments for New #Funds
22 Changes to #RAUM
1 #Custodial Services Provider Changes
1 #Marketing Services Provider Changes

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.

Gabby Riggione No Comments

04-19-2017 Convergence Daily ADV Filing Changes

04-19-2017 Convergence Daily ADV Filing Changes

6 New SEC-Registered Investment Advisors
9 New Private Funds
20 #RIA #Headcount Changes
3 C-Suite Updates
9 #Auditor Appointments for New #Funds
9 #Administrator Appointments for New #Funds
24 Changes to #RAUM
4 Administrative Services Provider Changes
3 #Auditor Services Provider Changes
5 #Custodial Services Provider Changes
5 #PrimeBrokerage Service Provider Changes
1 #Marketing Services Provider Changes

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.

convergence No Comments

Alternative Asset Managers See Increase In “Complexity” During The Quarter

Total new regulatory disclosures up; 2% of managers experience higher complexity in the period

SOUTH NORWALK, Conn. (April18, 2017) – Alternative asset managers saw an increase in “complexity” during the first quarter of 2017, with 152 Managers, or 2%, moving to a High Complexity Profile in their operational and business model, according to Convergence, a leading provider of data and insights to the alternative investment industry. The increase in complexity was led by hedge funds, with 78 funds moving to High Complexity, compared to 34 private equity funds, 10 real estate funds, and 28 “other category”.

Convergence assesses manager risk by tracking and monitoring 40 business and operational factors, including internal valuation, self-administration, and qualified audits. Convergence data has demonstrated a strong historical correlation between growth in fund complexity and levels of alternative manager risk.

“The quarter saw movements up and down the complexity curve across all Fund Types, and we expect to see continued changes as 225 new Managers were added, based on our most recent view of Q1 data,” said John Phinney, co-president at Convergence.

Other data from the quarter includes:

  • New regulatory actions disclosed by alternative Managers during Q1 increased by 135, comprised of 120 Regulatory Actions, 8 Civil Actions and 7 Criminal Actions.
  • 121 Managers experienced a decline in Complexity from High to Medium Complexity, led by 39 HF Managers, 44 PE Managers, 12 RE Managers and 57 Other Fund Managers.
  • 225 New Managers were added during the quarter, 9 receiving a High Complexity Rating, 110 Medium and 106 Low.

About Complexity

Convergence’s Advisor Complexity Profile (“Complexity”), launched earlier this year, is designed to address the challenge of operational and business model transparency in the alternative asset management industry. Complexity provides insight into all the major alternative asset classes, including hedge funds, private equity, real estate, venture capital, and structured asset funds, incorporating approximately 8,300 managers in more than 50 countries, and assigns each of them a high, medium or low complexity profile. It is designed to meet the needs for improved transparency and analysis for all the major industry participants: investors and asset allocators, assets managers, and service providers.

About Convergence, Inc.

Founded in 2013, Convergence is an independent growth company that has created an entirely new platform comprising (1) data, (2) research and analytical products, and, (3) surveillance / monitoring services, all providing transparency into the infrastructure of the alternative asset management industry. The firm’s leadership team has 120+ years of experience managing operating risk in many of the world’s leading asset management organizations. The depth and breadth of this industry expertise differentiates Convergence from any research players in the industry who provide data but fail to provide actionable context. Convergence does not render investment advice.

Gabby Riggione No Comments

04-18-2017 Convergence Daily ADV Filing Changes

04-18-2017 Convergence Daily ADV Filing Changes

11 New SEC-Registered Investment Advisors
7 New Private Funds
18 #RIA #Headcount Changes
6 C-Suite Updates
7 #Auditor Appointments for New #Funds
7 #Administrator Appointments for New #Funds
11 Changes to #RAUM
1 #Custodial Services Provider Changes
1 #PrimeBrokerage Service Provider Changes

ADV disclosures may have a signature date that is earlier than this document’s reporting period. This is due to a delay between the receipt of an ADV filing from an RIA and its release by the SEC. The above content is based on the information that Convergence obtains from an Advisor’s Form ADV. Convergence makes no representation to the accuracy of an Advisor’s data or to any derivative calculations Convergence creates using this data to benchmark Advisors. CMDX is a registered trademark of Convergence, Inc. (c) 2016 All rights reserved.