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Veteran investors launch Eighteen48 Partners, a next-generation private investment office, with $600m of initial assets under management

Thursday, November 21, 2019
Opalesque Industry Update - Co-founders Julien Sevaux and Tarek AbuZayyad announced the launch of Eighteen48 Partners, a research-led private investment office addressing the needs of professional investors, sophisticated families and institutions.

The new firm has already secured over $600m in assets under management from its founders and a group of prominent strategic investors, many of whom are shareholders, clients and advisors of the firm.

As advisors they provide specific asset class, industry and geographic expertise and contribute directly to the sourcing and evaluation of investment opportunities. John Singer, former Managing Partner of private equity firm Advent International, is representing strategic shareholders on the Eighteen48 board.

Eighteen48 invests globally across all asset classes, allocating capital to outstanding third-party funds and also making direct investments in both public and private securities.

The firm's investment approach is long-term and high-conviction, underpinned by primary research and deep fundamental analysis of the opportunities available. This approach is designed to address issues commonly found in the wealth management sector, such as over-diversification and market timing based on short-term economic or technical factors -behaviours which have historically hampered investors' returns.

Co-founder Julien Sevaux said about the founding of the firm said: "Eighteen48 was set up by investors for investors, to address the needs of sophisticated clients including leading investment professionals, entrepreneurs, wealthy families and institutions. Outside of their specific domain of expertise, our clients need a "home team" to manage diversified portfolios and, in many cases, which can also source, due diligence and execute on direct private market investments. Most firms cannot do both. Because we manage our own capital alongside that of our clients and co-invest with them in a transparent way, we have been able to build an exceptionally high degree of trust. We think of ourselves as an investment cooperative, of which we are all clients and to which we can each contribute."

CIO Edward Clive said about the investment strategy of the firm said: "Leading endowments have outperformed conventional wealth management firms over the long term for a reason. Their focus on intellectual capital, access to private markets, and ability to take a genuinely long view all play their part. Above all it is the understanding that equity risk drives long term returns, and that the ability to compound those returns over decades comes not from market timing but from fundamental research, a relentless focus on investment selection, and disciplined rebalancing of portfolio assets as opportunities to do so arise. Our firm exists with a single purpose, which is to compound our investors' capital over the long term. With the help of our senior team and highly experienced advisory investment committee, we have created an environment in which intellectual rigour, curiosity and collaboration are paramount, and which I believe affords us the best opportunity to achieve our clients' objectives over the years ahead."

Independent director John Singer said: "In my experience, the ability of an organisation to 'deliver' for the client to the level of their expectations depends as much on the culture and values of the organisation as on the skills and experience of the individuals. The team at Eighteen48 is focused on building a culture where the client comes first. This is particularly important in the investment industry where trust and confidence are paramount. At Eighteen48, the conscious focus is on understanding the overall needs of each client as an individual, and then working seamlessly across the firm to satisfy these fully. The firm's culture and values are reinforced by a carefully structured partnership model (unusual but vital today in wealth management) which promotes team stability, collegial behaviour and a long-term approach."

Eighteen48 is wholly owned by its partners, clients and employees.

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