Spruce House Investment Management LLC (New York)

Name: Spruce House Investment Management LLC
Address: 435 Hudson Street, New York, NY, 10014
Telephone: 646-442-6727

Spruce House Investment Management LLC is a large advisory firm based in New York. It manages $2.46 billion of regulatory assets for 2 client accounts. It has been registered with the SEC as an adviser since 2014.

Spruce House Investment Management provides 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.

Spruce House Investment Management: assets under management

The assets under management (AUM) of Spruce House Investment Management LLC is $2.46 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 851% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.46 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.23 billion each.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Spruce House Investment Management LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Spruce House Investment Management serves?

The only and largest group of clients of Spruce House Investment Management is pooled investment vehicles with 2 clients and $2.46 billion of assets under management. Among the 8 most similar advisory firms, Spruce House Investment Management has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $2.46 billion for 2 clients. 50% of the firm’s clients are foreign persons or businesses.

Spruce House Investment Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $3,000,000 for each fund.

Careers at Spruce House Investment Management LLC

The company employs 7 people that are either part- or full-time employees. 71 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
Zachary Samuel Sternberg	Managing member/chief compliance officer	1 Aug 2005	50% - 75%	4966573
Benjamin Forester Stein	Managing member	1 Aug 2005	50% - 75%	5349385
David J. Walker	Chief compliance officer, chief financial officer	1 Jun 2016	Other	5076929
Thomas Joseph Walker	Chief compliance officer, chief financial officer	1 May 2018	Other	5313996

Based in New York

The principal office where Spruce House Investment Management LLC performs its advisory services is located at 435 Hudson Street, New York, NY 10014, 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 646-442-6727. The normal business hours are 9-5 on Monday - Friday. You can find more information about the New York firm at sprucehousecapital.com.