Ex-Stanhope Capital trio Julien Sevaux, Tarek AbuZayyad and Edward Clive have launched Eighteen48 Partners, a private investment office that has secured more than $600m in assets from its founders, clients and advisers of the firm.
A group of strategic shareholders in the business are represented by board member John Singer, former managing partner of private equity firm Advent International.
Investments are made across all asset classes, including via third parrty funds, and direct investments in public and private securities. Investment decisions are based on primary research and fundamental analysis, with an eye to avoiding over diversification and market timing.
Co-founder Julien Sevaux 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."
CIO Edward Clive 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."