You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. SMAs have experienced explosive growth recently, rising by over 54% to $3.86 trillion in assets, according to a “U.S. Managed Accounts” report for the first quarter of 2025 from Cerulli Associates. However, the firm’s research also showed that the average redemption rates for these accounts reach into the double digits, higher than the asset managers behind them anticipated. Asset managers have ...

Oct 8, 2025 7:54 AM Eastern Daylight Time NEW YORK--(BUSINESS WIRE)--Voya Investment Management (Voya IM), the asset management business of Voya Financial, Inc. (NYSE: VOYA), today announced the appointment of Scott Brady as managing director and head of Intermediary Business Development. Based in Boston, Brady will lead efforts to expand Voya IM's presence across the wirehouse, independent broker- dealer and registered investment advisor (RIA) channels. Brady reports to Tiffani Potesta, head of Distributio ...

The REIT Team of Chilton Capital Management, a Houston-based investment adviser, is headed by co-portfolio managers Bruce Garrison, CFA, and Matt Werner, CFA. Mr. Garrison has over 40 years of experience analyzing public REITs both on the buy-side and the sell-side. Mr. Werner joined Mr. Garrison on the Chilton REIT Team in 2009. The REIT Team’s strategy primarily pursues investments in publicly traded real estate investment trusts (REITs) and real estate related entities based primarily in North America. T ...

Company Overview - Strive, Inc. or Strive Asset Management (ASST) has seen a significant decline of over 10% in its stock price, dropping from $3.35 to around $3.01 to $3.02 as of September 24 [1] - The stock has traded between $3.03 and $3.20, indicating ongoing downward pressure [1] Trading Activity - Current trading volume is over 2.6 million shares, which is below the average of 7.5 million, suggesting reduced momentum [2] - The shares are under heavy selling pressure, reflecting a double-digit percentage decline [2] Business Strategy - Strive, Inc. is positioning itself as a Bitcoin treasury asset manager, integrating its investment arm with a strategy of holding Bitcoin directly on its balance sheet [3] - The company was co-founded by Vivek Ramaswamy, who emphasizes "shareholder primacy" and anti-ESG rhetoric in its mission [3] Product Offerings - Strive offers ETFs and separately managed accounts (SMAs) that include customization features and tax-loss harvesting functionality [4] Recent Acquisition - On September 22, Strive announced an all-stock acquisition of Semler Scientific valued at approximately $1.34 billion, with Semler shareholders receiving 21.04 Strive shares for each Semler share, equating to $90.52 per share [5] - This acquisition is expected to enhance Strive's Bitcoin strategy, as it plans to acquire an additional 5,816 BTC valued at $675 million, leading to a total holding of over 10,900 BTC post-merger [6] Market Reaction - As of the time of writing, Semler Scientific (SMLR) has experienced a 2.27% downturn, while ASST's price decline is attributed to concerns over dilution and governance issues related to the upcoming merger [7]

Core Viewpoint - Chilton Capital Management's REIT Team focuses on investments in publicly traded real estate investment trusts (REITs) and related entities primarily in North America, emphasizing the advantages of liquidity, transparency, and total return characteristics of public REITs [1] Group 1: Team and Strategy - The REIT Team is led by co-portfolio managers Bruce Garrison and Matt Werner, with Garrison having over 40 years of experience in public REIT analysis [1] - The investment strategy combines real estate industry experience with traditional security analysis methods, focusing on research, critical thought, and analytical depth [1] - The REIT Team manages Separately Managed Accounts (SMAs) for high net worth individuals and institutions, and serves as a sub-advisor for the West Loop Realty Fund [1] Group 2: Investment Focus - The REIT Team invests in various property types, including apartments, regional malls, shopping centers, lodging, office, industrial, self-storage, data centers/cell towers, and healthcare-related facilities [1] - The approach allows for diversification by geography, sector, strategy, property, and tenant while maintaining portfolio liquidity [1] Group 3: Company Background - Chilton Capital Management, established in 1996, provides investment advisory services for registered investment companies, private clients, family offices, endowments, foundations, retirement plans, and trusts [1] - The firm is independently owned and operated, with additional information available on the SEC's website [1]

Core Insights - Chilton Capital Management's REIT Team is led by experienced co-portfolio managers Bruce Garrison and Matt Werner, focusing on publicly traded real estate investment trusts (REITs) and related entities primarily in North America [1] - The REIT Team emphasizes the advantages of public REITs, including liquidity, transparency, and total return characteristics, which enhance diversification across various dimensions [1] - The investment strategy combines real estate industry experience with traditional security analysis methods to make informed investment decisions [1] Company Overview - Chilton Capital Management is an independently owned firm established in 1996, providing investment advisory services to a range of clients including registered investment companies, private clients, family offices, endowments, foundations, retirement plans, and trusts [1] - The REIT Team manages Separately Managed Accounts (SMAs) for high net worth individuals and institutions, and serves as a sub-advisor for the West Loop Realty Fund [1] Investment Strategy - The REIT Team's investment approach focuses on traditional methods of security analysis, including research, critical thought, and analytical depth, which are essential to their investment process [1] - The property types targeted by the REIT Team include apartments, regional malls, shopping centers, lodging, office, industrial, self-storage, data centers/cell towers, and various healthcare-related facilities [1]

Financial Data and Key Metrics Changes - The company raised and deployed over $1,400,000,000 in gross new fee-paying AUM, marking a record fundraising quarter [6] - Revenue for the first quarter was $67,700,000, a 2% increase year-over-year [20] - Fee-paying assets under management increased to $26,300,000,000, reflecting a 10% year-over-year growth [20] - GAAP net income decreased to $4,700,000 from $5,200,000 in the prior year quarter [23] - Adjusted net income (ANI) was $23,500,000, representing an 8% decrease year-over-year [23] - FRE margin was 45% in the first quarter, holding flat year-over-year [24] Business Line Data and Key Metrics Changes - Private equity strategies raised and deployed $1,200,000,000 [21] - Venture capital solutions raised and deployed $82,000,000 [21] - Private credit strategies added $162,000,000 to fee-paying assets under management [21] - Total catch-up fees in the quarter were $2,800,000, with direct and secondary catch-up fees totaling $2,200,000 [22] Market Data and Key Metrics Changes - The company closed RCP Direct five with nearly $1,000,000,000 in commitments, a record for RCP [6] - The acquisition of Qualitas Funds added 1,300 LPs to the platform, significantly expanding the global LP base [8] - The company expects to have more than 15 funds in the market throughout the year [7] Company Strategy and Development Direction - The strategic plan focuses on optimizing organizational structure, driving organic growth, and enhancing transparency [10] - The company aims to deepen and expand its LP base through new investment vehicles and distribution channels [12] - The acquisition of Qualitas Funds is seen as a strategic fit to expand geographic footprint and asset class exposure [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current operating environment despite potential market volatility [10] - The company anticipates at least $4,000,000,000 of organic gross fundraising in 2025 and double-digit revenue growth [9] - Management highlighted the resilience of strategies in the middle and lower middle market, which are less affected by market fluctuations [15] Other Important Information - The company announced a 7% increase in quarterly dividend to $3.75 per share [24] - Approximately $15,000,000 of stock was repurchased in the first quarter, with $28,500,000 remaining in the share repurchase program [18][25] - The company expects a low single-digit cash tax rate in 2025 due to tax assets [28] Q&A Session Summary Question: Clarification on catch-up fees related to RCP Direct fund - The April 10 date mentioned was the announcement date, not the close date [30][31] Question: Early results of cross-marketing with 5,000 LPs - The focus is on optimizing data and capitalizing on synergies with the Qualitas Funds team [32][34] Question: Guidance on step downs and expirations - The company is not changing its guidance on step downs and expirations at this time [39] Question: Impact of Qualitas on tax and M&A - The acquisition structure will not change tax amortization, and there is an increase in potential M&A opportunities [46][49] Question: Sentiment from endowments and foundations - There has been little to no impact from recent volatility, and the company is positioned to provide liquidity solutions [57] Question: Contribution from SMAs in fundraising - There was a strong contribution from the SMA pipeline, and the company is focused on providing customized solutions [70][72]

Core Viewpoint - Chilton Capital Management's REIT Team focuses on investments in publicly traded real estate investment trusts (REITs) and related entities primarily in North America, emphasizing the advantages of liquidity, transparency, and total return characteristics of public REITs [1] Group 1: Team and Strategy - The REIT Team is led by co-portfolio managers Bruce Garrison and Matt Werner, with Garrison having over 40 years of experience in public REIT analysis [1] - The investment strategy combines real estate industry experience with traditional security analysis methods, including research and analytical depth [1] - The REIT Team manages Separately Managed Accounts (SMAs) for high net worth individuals and institutions, and serves as a sub-advisor for the West Loop Realty Fund [1] Group 2: Investment Focus - The REIT Team invests in a variety of property types, including apartments, regional malls, shopping centers, lodging, office, industrial, self-storage, data centers/cell towers, and healthcare-related facilities [1] - The focus on public securities allows for diversification across geography, sector, strategy, property, and tenant while maintaining portfolio liquidity [1] Group 3: Company Background - Chilton Capital Management, established in 1996, provides investment advisory services for registered investment companies, private clients, family offices, endowments, foundations, retirement plans, and trusts [1] - The firm is independently owned and operates within the Liberty Street family of funds, with the West Loop Realty Fund being part of the Investment Managers Series Trust [1]

Core Insights - Chilton Capital Management's REIT Team is led by experienced co-portfolio managers Bruce Garrison and Matt Werner, focusing on publicly traded real estate investment trusts (REITs) and related entities primarily in North America [1] - The REIT Team emphasizes the advantages of public REITs, including liquidity, transparency, and total return characteristics, which enhance diversification across various dimensions [1] - The investment strategy combines real estate industry experience with traditional security analysis methods to make informed investment decisions [1] Company Overview - Chilton Capital Management is an independently owned firm established in 1996, providing investment advisory services to a range of clients including registered investment companies, private clients, family offices, endowments, foundations, retirement plans, and trusts [1] - The REIT Team manages Separately Managed Accounts (SMAs) for high net worth individuals and institutions, and serves as a sub-advisor for the West Loop Realty Fund [1] Investment Strategy - The REIT Team's investment approach focuses on traditional methods of security analysis, including research, critical thought, and analytical depth, which are essential to their investment process [1] - The property types targeted by the REIT Team include apartments, regional malls, shopping centers, lodging, office, industrial, self-storage, data centers/cell towers, and various healthcare-related facilities [1]