Park Avenue Institutional Advisers LLC (New York)

Park Avenue Institutional Advisers LLC is a large advisory firm based in New York. It manages $4.79 billion of regulatory assets for 22 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdiction of New York.

Park Avenue Institutional Advisers provides portfolio management for investment companies and portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Park Avenue Institutional Advisers: assets under management

The assets under management (AUM) of Park Avenue Institutional Advisers LLC is $4.79 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 9% since the beginning of its operation, and $1.62 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $4.79 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $217.74 million each.

Investments

The firm invests in other assets the most. They account for 60% of the total AUM. The second-largest asset type is non-investment grade corporate bonds, which make up 40% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Park Avenue Institutional Advisers LLC for their services and products based on a percentage of assets under management and performance-based fees. 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 Park Avenue Institutional Advisers serves?

The firm provides services to investment companies and pooled investment vehicles. The largest group of clients of Park Avenue Institutional Advisers is investment companies with 17 clients and $3.18 billion of assets under management. Among the 10 most similar advisory firms, Park Avenue Institutional Advisers has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $4.79 billion for 21 clients. 18% of the firm’s clients are foreign persons or businesses.

Park Avenue Institutional Advisers also advises several private funds. Namely, four securitized asset funds. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Park Avenue Institutional Advisers LLC

The company employs 79 people that are either part- or full-time employees. 44 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.

Thomas George Sorell has served as the Chief Investment Officer since 1 Feb 2015. John Hunter Flannigan joined the executive team most recently as the Llc Manager.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Guardian Investor Services Llc	Member	1 Feb 2015	75% - 100%	6635
Thomas George Sorell	Chief investment officer	1 Feb 2015	Other	1020936
John Harold Walter	Sr. vice president and controller	1 Feb 2015	Other	2358945
Michael Joseph Bessel	Chief compliance officer	1 Feb 2015	Other	2963742
Michael Nicholas Ferik	Llc manager	1 Feb 2015	Other	4994941
Michael Bernard Cefole	President and llc manager	1 Feb 2015	Other	2720073
John Hunter Flannigan	Llc manager	1 Feb 2015	Other	6457283
John H. Walter	Sr. vice president and controller	1 Feb 2015	Other	2358945
Michael B Cefole	President and llc manager	1 Feb 2015	Other	2720073
Roberto C Ecker	Llc manager	1 May 2016	Other	6715227
Douglas Dupont	President and llc manager	1 May 2016	Other	6715243
Robert William Thompson	Llc manager	1 May 2016	Other	1969475
John Hunter Flannigan	Llc manager	1 May 2018	Other	6457283

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
The Guardian Life Insurance Company Of America	Owner	1 Feb 2015	75% - 100%	13-5123390

Based in New York

The principal office where Park Avenue Institutional Advisers LLC performs its advisory services is located at 10 Hudson Yards, New York, NY 10001, 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 212-919-2517. The normal business hours are 8:45 a.m. - 4:30 p.m. on Monday - Friday.