Coventure Management, LLC (New York)

Coventure Management, LLC is a large advisory firm based in New York. It manages $128.63 million of regulatory assets for 19 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of New York.

Coventure 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.

Coventure Management: assets under management

The assets under management (AUM) of Coventure Management, LLC is $128.63 million. The company doesn't manage any assets belonging to foreign clients.

The firm manages $103.63 million in discretionary accounts and $25 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $5.76 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $25 million.

Coventure Management has custody of $132.77 million in cash and securities for 19 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Coventure 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 Coventure Management serves?

The only and largest group of clients of Coventure Management is pooled investment vehicles with 19 clients and $128.63 million of assets under management. Among the 10 most similar advisory firms, Coventure Management has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $128.63 million for 19 clients. None of the firm’s clients are foreign persons or businesses.

Coventure Management also advises several private funds. Namely, ten hedge funds and nine private equity funds.

Careers at Coventure Management, LLC

The company employs 17 people that are either part- or full-time employees. 76 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.

Joseph Christopher Iraci joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 8 indirect owners.

Based in New York

The principal office where Coventure Management, LLC performs its advisory services is located at 740 Broadway, New York, NY 10003, 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 646-681-4477. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at angel.co/coventure and its LinkedIn profile.

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