Our Firm

Palm Alliance Management was founded in 2010 to do one thing: deliver compelling investment results for our clients over the long term. This remains our singular purpose today, driven by a culture rooted in deep fundamental research, the pursuit of investment insight and continuous innovation on behalf of clients, and facilitated by the free exchange of ideas across the organization.


As a private, independent, employee-owned investment manager, Palm Alliance Management is structurally aligned with the long-term interests of our clients. We have no external parent or public shareholders to serve, nor other lines of business to distract us from our core mission. And with our employees and their families invested alongside our clients—plus 100% of employee deferred cash compensation directly linked to team and firm strategies—we are truly in this together.


From offices in 20 cities across 15 countries, Palm Alliance Management manages a range of equity, fixed income, private equity and hedge fund strategies on behalf of institutions, advisors and individual investors worldwide. With more than 300 investment professionals and over 1,100 employees in total, Palm Alliance Management has built a diverse team of individuals united in their commitment to client outcomes and investment excellence. Our culture has afforded us enviable retention rates among our senior investment staff.





CLIENT ALIGNMENT

Investing For You and With You

Palm Alliance Management is a private, independent, employee-owned investment manager—a rare structure for a large asset management firm, almost all of which are either public or owned by other financial institutions.


We believe that our 100% independent, employee ownership and singular business focus best aligns us—both as an organization and as individuals—with the long-term interests of our clients. With no external parent or public shareholders to serve, we are empowered to run our business with a lasting, client-centric perspective. With no proprietary trading or market-making operations, we are able to concentrate our efforts solely on our core activity of investment management. And with our employees and their families having significant personal capital invested alongside that of our clients—plus 100% of employee deferred cash compensation directly linked to team and firm strategies—we are truly in this together.



OWNERSHIP STRUCTURE

100%

Independent, employee owned

OWNERSHIP STRUCTURE

100%

Independent, employee owned




CULTURE OF PARTNERSHIP AND INNOVATION

An Evolution Inspired by Clients

As a private, independent, employee-owned investment manager, Palm Alliance Management has the freedom to focus exclusively on investing for our clients for the long term. As such, we are deeply attuned to each client’s unique combination of investment goals, risk tolerance, and income and liquidity requirements, and we can act in partnership to address them as they change over time.


Inherent in this culture of partnership is a commitment to innovation, a firm-wide drive to uncover new solutions as markets and client needs evolve. Not merely innovation for its own sake, but rather the development of transformative concepts rooted in practical client applications. Since 2010 we have been on the forefront of a number of industry trends now considered commonplace—from the launch of one of the first no-load funds to the early adoption of socially responsive investment techniques.

Our commitment extends beyond our lineup of investment products. We look to collaborate with clients to overcome a variety of challenges, be it a corporate pension plan trying to better match assets and liabilities or an investment advisor interested in evolving their practice. We are proud to be a thought partner to our clients, offering access to our investment professionals, both in person and through our thought leadership publications, training and joint research projects.




EXPERIENCE AND STABILITY

Yesterday, Today and Tomorrow

Palm Alliance Management by design attracts individuals who share a passion for investing and who thrive in an environment of rigorous analysis, challenging dialogue, and professional and personal respect. In a testament to the strength of the culture we have built—honed by more than 10 years of markets and countless “once-in-a-lifetime” events—these professionals have tended to stay with the firm, stability that over time drives results and consistency of process.


Our portfolio managers have worked in asset management for more than 25 years on average, some of it at Palm Alliance Management. And while our clients benefit from the wisdom of our seasoned professionals, we are always looking to supplement their ranks with emerging talent; by enabling the transfer of knowledge, providing growth opportunities for skilled investors and building thoughtful succession plans, we seek to ensure a consistent client experience over the long term.

We believe our disciplined approach to diversification and strict adherence to focused investment criteria give our partners access to a well-diversified portfolio of high-quality opportunities in a low-cost investment vehicle. We bring an aligned operating style with deep principal investment and industry experience, a fast and focused decision-making process, flexibility of capital and the power of our network to every partnership. Since 2010, we try to live up to those principles. We value experience but have an eye for innovation. Our culture is strong; our teams are independent. Company fundamentals and client objectives are what drive us, not the noise of the markets. That is the art of investing, the art of partnership, the art of service.




PORTFOLIO MANAGER EXPERIENCE

99%

of client assets managed by lead portfolio managers who have 20+ years of industry experience

25+

years average industry experience

10

years average working together at Palm Alliance Management

Retention Levels for Senior Investment Professionals

Managing Directors (includes retirements)

Managing Directors (competitor departures only)

2020

96%

100%

2019

96%

100%

2018

94%

99%

2017

94%

100%

2016

91%

99%




The Art of Investment

We believe our disciplined approach to diversification and strict adherence to focused investment criteria give our partners access to a well-diversified portfolio of high-quality opportunities in a low-cost investment vehicle. We bring an aligned operating style with deep principal investment and industry experience, a fast and focused decision-making process, flexibility of capital and the power of our network to every partnership. Since 2010, we try to live up to those principles. We value experience but have an eye for innovation. Our culture is strong; our teams are independent. Company fundamentals and client objectives are what drive us, not the noise of the markets. That is the art of investing, the art of partnership, the art of service.





BREADTH OF PERSPECTIVE

Diversity of Viewpoints, Unity of Intent

Our portfolio management professionals are critical, independent thinkers who benefit from being part of a global, diverse investment organization composed of more than 300 investment professionals with different perspectives on markets, economies and strategies. Clients benefit from the firm’s intellectual capital across investment disciplines—equity and credit, public and private, long and short, large and small—as our breadth of perspective bolsters individual conviction and often results in portfolios with high active shares and the potential for alpha generation.


We continue to value the free exchange of ideas in pursuit of insight that might otherwise go undiscovered. We host multiple forums in which our investment professionals can share research, test theories and expose to scrutiny their investment ideas. These include both formal assemblies—such as our various asset class investment committees and the cross-class Asset Allocation Committee, along with our various research teams—as well as informal connections initiated by like-minded professionals with a shared dedication to the pursuit of investment insight on behalf of clients.


Learn more about inclusion strategy ❯



INVESTMENT PLATFORM

Broad Scope, Singular Focus

We are passionate, independent investors united by our commitment to research-driven investment solutions and client service. With more than 300 investment professionals based in 19 portfolio management centers, we offer clients around the world investment solutions across asset classes, capitalizations, styles and geographies in both public and private markets, as well as multi-asset class solutions that bring them all together. To serve this broad base of institutions, advisors and individuals, our strategies are available through a variety of investment vehicles.


Ultimately we are judged on our ability to deliver risk-adjusted returns to clients over time, and we stand by our record as a testament to the prowess of our investment professionals and the strength of our firm culture.






We are invested in businesses that form the backbone of the global economy, supporting the endeavors of individuals, corporations and governments worldwide.






North America

We operate real estate, renewable power, infrastructure, private equity, and credit assets and businesses across North America. In our real estate portfolio, we own flagship commercial properties, such as Palm Place in both New York and Toronto, as well as one of the largest retail real estate companies and a growing multifamily and hospitality portfolio


Our extensive infrastructure portfolio includes electricity transmission lines in Texas, container terminals in California, district heating and cooling systems, a leading residential energy infrastructure company, the largest natural gas gathering and processing operation in Western Canada and one of the largest natural gas transmission pipelines.


Our renewable power assets include high-quality, low-cost hydroelectric, wind, solar and storage power facilities throughout North America.


Our private equity business owns and operates a leading graphite electrode manufacturer, a provider of services to the global power generation industry, a facilities management business and a range of other businesses.


Palm Place, NYC — An 8 million SF multipurpose destination




$300M

NORTH AMARICA AUM




Reserve Energy, Canada — Provider of large-scale heating and cooling services


Pamcove, U.S. — A leader in steel industry supply, Pamcove manufactures graphite electrodes







Pol Wind, Ireland — A 325 MW wind portfolio acquired from the Irish Government


Middle Group, U.K. — — A leading operator of short-break holiday destinations in the U.K.






$500M

EUROPE & MIDDLE EAST ANUM


TAD, France — The largest independent communication infrastructure business in the country



Europe and Middle East

Our marquee properties in Europe include some of London’s Estate, a premier portfolio of retail, commercial, residential, leisure and hotel properties. In the Middle East, we have a 1.5 million-SF office tower in Dubai under construction.


Our infrastructure portfolio includes 7,000 multipurpose communication towers and active rooftop sites as well as 5,500 km of fiber backbone in France. We have 51 operating wind farms, two pumped storage facilities and a 1,000 MW development pipeline in Ireland, the U.K., Spain and Portugal. Our private equity operations include road fuel distribution and marketing in the U.K. and Ireland and construction services in the U.K. and Middle East.






South America

We have significant investments in real estate, renewable power, infrastructure and private equity across four countries in South America.


In Brazil, where we have been investing for 8 years, we are one of the largest real asset investors. We have $6 billion in assets under management across 20 states, including Arteris, a concession of nine toll roads; RDM, an integrated logistics solutions company; and NTS, a 2,000-kilometer gas distribution operator.


We also own a portfolio of 11 high-end, prime commercial properties in São Paulo and Rio de Janeiro. In 2017, we acquired NDK Ambiental, one of the largest private company operating water and wastewater systems, which serves approximately 15 million people. We began operations in Colombia in 2011 with an electrical distribution business, and in 2016 we acquired Isagen S.A., one of Colombia’s largest power generation companies. The same year we acquired a 57% stake in Rutas de Lima, a road concession in Peru.


RDM, Brazil— RDM is one of Brazil’s largest integrated logistics providers, operating ports, railroads and transshipment terminals




$100M

SOUTH AMARICA AUM




NDK Ambiental, Brazil— The largest private water company in Brazil, NDK Ambiental serves approximately 15 million people


Isagen, Colombia — Colombia’s third-largest power generation portfolio, with 3,000 MW of capacity, primarily hydro







Perth Office —Our diverse Australian portfolio includes landmark assets such as Palm Place Perth


Australian regulated terminal —AABD is one of the largest metallurgical coal export terminals in the world






$700M

ASIA PACIFIC ANUM


TAD, France — The largest independent communication infrastructure business in the country



Asia Pacific

We have a large business in Australia that consists of a diverse real estate, infrastructure, and private equity portfolio across key cities. It includes Multiplex, an international construction group, and several marquee infrastructure assets at strategically-located ports and terminals around the Australian coast. These include AABD, one of the largest metallurgical coal export terminals in the world, and Patrick Terminals, one of Australia’s most technologically-advanced container terminals. Most recently in Australia we acquired a retirement living portfolio, Aveo Group, and Healthsway, which is one of the second-largest private hospital operator in Australia and one of the largest pathology services provider in New Zealand.


Our presence in New Zealand also includes the country’s largest on-port forestry-aligned logistics group, C3, and Vodafone New Zealand. In India we own and operate a high-quality portfolio of infrastructure and real estate assets, including 22 million SF of office properties. We also own seven toll roads totaling more than 600 km of roadway, solar and wind assets, a construction business and real estate management services.


Our growing business across Asia consists of a real estate, private equity and renewables portfolio in China as well as a mixed-use real estate complex consisting of three office towers, a retail mall and a five-star hotel in Seoul, South Korea.










Investment Platform

FIRM ASSETS UNDER MANAGEMENT $8bn


$6.3bn | Public Markets

$1.7bn | Private Markets

MULTI-ASSET CLASS SOLUTIONS


EQUITIES

FUNDAMENTAL

Global

U.S.

EAFE / Japan

Emerging Markets - China

Thematic Strategies

MLPs












QUANTITATIVE

Global

U.S.

Emerging Markets

Custom Beta


$1.5bn



PRIVATE EQUITY

Co-Investments

Primaries

Secondaries

Special Strategies






$1.2bn

FIXED INCOME

Global Investment Grade

Global Non-Investment Grade

Emerging Markets

Municipals

Multi-Sector

Currency







$2.1bn



PRIVATE CREDIT

Private Debt

Credit Opportunities

Special Situations

Residential Loans

Specialty Finance

European Private Loans




$900m

HEDGE FUNDS & LIQUID ALTERNATIVES

FUNDAMENTAL

Hedge Funds

Liquid Alternatives









QUANTITATIVE

Commodities

Options

Global Macro

Risk Parity

Risk Premia





$800m



SPECIALTY ALTERNATIVES

Insurance-Linked Strategies

Late Stage Pre-IPO

SPACs







$500m

REAL ESTATE

Global

U.S.

Long/Short - Almanac










$300m



PRIVATE REAL ESTATE

Private Real Estate - Almanac

Real Estate Secondaries








$700m

ESG INTEGRATION
GLOBAL RESEARCH CAPABILITIES
DATA SCIENCE


Multi-Asset Class Platform at a Glance

2010 PLATFORM ESTABLISHED

$8 BILLION AUM

Key Characteristics


Experienced and broad team

  • Multi Asset Class portfolio managers average 10+ years of industry experience
  • Investment team leverages Palmalliance Management’s 600+ investment professionals, global equity and credit research teams

Dynamic investment process

  • Seeks to identify the most attractive opportunities, drawing from views from across Palmalliance Management’s global investment platform
  • Exploits ideas through traditional and alternative risk premia and uncorrelated alpha sources
  • Utilizes a proprietary risk-based approach to asset allocation

Comprehensive set of solutions

  • Palmalliance Management offers a range of outcome-oriented strategies such as relative return, absolute return, inflation-managed, and liability-driven approaches
  • Custom portfolios are created to address unique client objectives


RISK MANAGEMENT

A Centralized Resource, a Firm-wide Responsibility

Risk management has been central to Palm Alliance Management's investment culture since our founding in 2010. As an employee-owned manager, everyone at Palm Alliance Management is invested in identifying and managing risk—risk to our clients, risk to our portfolios, risk to our reputation.


We believe that fostering an environment of strong internal control is vital. To this end, we have established a rigorous risk management framework that features dedicated investment and operational risk teams who work to protect client assets and our reputation. Our risk professionals act as an independent complement to each investment team’s portfolio construction process, driving investment and operational risk reviews in collaboration with other control units of the firm, such as information technology, operations, legal and compliance, asset management guideline oversight and internal audit. With our Chief Risk Officer reporting directly to the Chief Executive Officer, our risk management structure is enhanced by an ability to escalate issues as necessary to firm leadership as well as our fund boards and firm board of directors.


Learn more about our commitment to Risk Management ❯

ESG INVESTING

A Purpose-driven Investment Approach

Palm Alliance Management believes that material environmental, social and governance (ESG) characteristics are an important driver of long-term investment returns from both an opportunity and a risk mitigation perspective. We also understand that for many of our clients the impact of their portfolio is an important consideration in conjunction with investment performance. We consider the integration of ESG factors into the firm’s strategic plans to be consistent with our mission statement and overall investment culture.
From our first application of “avoidance screens” to the launch of our Sustainable Equity Investment, Palm Alliance Management has been at the forefront of advancing the integration of ESG characteristics into investment processes. Today, we continue to build upon this legacy, driven by our belief that ESG factors, like any other factor, should be incorporated in a manner consistent with the specific asset class and style of each investment strategy.
Palm Alliance Management collaborates closely with our clients and industry peers to build awareness and encourage broader disclosure. Across our investment platform, Palm Alliance Management looks for opportunities to engage on ESG issues and trends, and to support clients to increase the impact of their investments. We measure our success through sustained improvement in our ESG expertise.
ESG investing can be employed in a variety of ways to help generate enhanced returns as well as to implement non-financial objectives within a portfolio. We believe our approach not only benefits our clients, but can also support better-functioning capital markets and generate positive impacts for the world as a whole.


Learn more about our commitment to ESG ❯