Angeles Wing

    We are purposefully structured to enhance our client's ability to serve their constituents and communities by providing the resources of a comprehensive investment office and the experience and framework necessary for sound governance.

    • Michel Rosen's Story




      Angeles is driven to be an innovative leader in managing investment programs, globally recognized for our positive impact on our clients and industry. We are not driven by the usual business metrics: revenue growth, profit margin, number of clients, employees, or offices. We only have two clear goals, and both are related to our clients.

      • The first goal is to enable each client to advance and fulfill its mission through superior investment results. We do this by taking an innovative investment approach that is required to achieve our clients’ investment objectives, translating high-conviction views into dynamic portfolios, and leveraging a diverse and collaborative organization to facilitate agile actions on behalf of our clients.
      • Our second goal is to offer the highest level of service. We define this more than merely being responsive to requests (although that’s important too). Great service to our clients also means anticipating their needs. This requires not only intimate knowledge of our client’s financial history, condition, and projections, but also deep, intuitive understanding of the culture and character of each client, their enterprise, and mission.
      Michel Rosen's Story



    Angeles is organized to achieve these dual goals.

    • Our Investment Officers are experienced investment professionals. They serve each client as an internal chief investment officer would: being intimately familiar with the client’s requirements, guiding the fiduciaries in establishing client-appropriate investment objectives and parameters, educating and communicating the investment strategy in the context of the economic environment, and marshalling all the resources of the Angeles organization to support each client. We have two divisions of Investment Officers, Angeles Investments and Angeles Wealth Management that, respectively, serve institutional and private investors.

    • Angeles Investment Management is our research and investment division responsible for implementing our best investment ideas across every client’s portfolio, principally through our series of proprietary commingled funds. These funds, organized by asset class and strategy, reflect Angeles’ highly selective manager research process (fewer than 1% of strategies reviewed are ever funded by Angeles). Overall portfolio risk exposures are internally managed by Angeles Investment Management.

    Howard Perlow - We have achieved our goals Howard Perlow - We have achieved our goals

    We are proud to say we have achieved our goals.

    • For the past five years, Angeles has received one of the highest overall scores among investment advisory firms* in the Greenwich Associates survey of more than 1100 institutional investors across the United States. We were graded on our investment acumen, understanding of clients' needs, responsiveness to their requests, and many other areas of investment knowledge, communication and client service. We think these results offer strong proof of the value Angeles brings to its clients.

    • We have also succeeded in our goal of achieving superior investment results. Angeles has a 20-year track record of outperforming our benchmarks, a track record that has been independently audited and is in full compliance with industry reporting standards.

      In the end, we are proud that our clients have benefitted from our achievements. For we define our success as advancing our clients' missions.

    • * Note: The 2021 study covers 811 institutional clients, including 18 Angeles clients. Angeles does not pay to have its clients participate in the study. Angeles was designated as a Greenwich Quality Leader in Overall U.S. Investment Consulting among midsized advisors in the 2017, 2018, 2019, 2020, and 2021 surveys.

    We believe there is no investment advisor that offers this combination of superior service and investment results better than Angeles.

    • Derrick Cruz - We Control Our Destiny


      • We control our destiny given we are employee owned, ensuring we aren’t subjected to distractions or bureaucracy.
      • Our horizon is infinite, as we intentionally develop depth to withstand the natural evolution of our colleagues.
      • Our durability is strong, as we consciously build redundancies and safeguards.
      • Our ownership and operational structure fully aligns our interests with those of our clients.
      • Our collaborative structure among colleagues brings out the best ideas.

      Our size is intentional - big enough to perform the sophisticated functions required to manage complex global portfolios and gain access to best-of-breed managers, yet small enough to be agile in efficiency, decision-making and execution. We are not distracted, nor conflicted, by running a large global organization with hundreds, or even thousands, of employees.


      We believe clients prefer to work with those that design, develop and implement investment decisions for their portfolio, which is why our senior investment professionals serve as the key point of contact for each client relationship. This offers clients transparent and unassailable accountability for the management of their investment program. This is a stark contrast from firms that instead provide relationship managers who are not part of the investment team and are not directly accountable for the investment program.

      We believe this direct and in-person relationship forms the foundation for a long-term successful relationship.

    Angeles Designs Comprehensive Solutions Angeles Designs Comprehensive Solutions

      • Our firm is built to provide a full suite of front-to-back office services, consistent with a sophisticated institutional investment office.
      • Our investment team performs research, designs custom investment programs, executes investment decisions, and manages risk - all within client guidelines and investment policies. We develop views on opportunities, risks, and how to construct optimal investment programs. Specialized considerations such as impact investing, tax-sensitive strategies, and philanthropic programs are areas of strength to support clients which we integrate where appropriate.
      • Our back office interfaces with service providers such as custodians and auditors, negotiates contracts, ensures compliance, performs reconciliations, generates reports, and supports clients’ audit and tax needs.

      • Angeles believes strongly in the importance of listening to each client, understanding their preferences, constraints, and way of communicating, so as to design a unique and optimal investment program.
      • We seek to see our clients' perspectives as both a partner and a fiduciary.
      • Clients have similarities in their investment program, for example, they all tap into the same global markets. However, not all asset classes and strategies are appropriate for every client nor their investment program. Listening and translating opportunities identified in the global market to each client’s investment program is an important strength of ours.
      • Clients also have unique considerations, whether they be: the operating/sponsor entity’s relationship with the assets; investment, risk and liquidity preferences; regulatory influence; and purpose for the investment program. Each of these impacts how to construct an optimal investment program.
    Anna McGibbons and Stephen Smetana - Our Clients Define Our Success Anna McGibbons and Stephen Smetana - Our Clients Define Our Success


    Success of any comprehensive investment program shouldn’t be measured by any single metric. Measurement must span all facets of the program, including: performance and how the portfolio is managed; the back office, who ensures the execution of investment decisions is done correctly; and relationship management - the communication, responsiveness, and chemistry with the client. In the end, the purest and most powerful report card summarizing such complex relationships is the recognition earned from clients.

    In a 2022 study conducted by Greenwich Associates, Angeles was named a Greenwich Quality Leader for the sixth consecutive year, a recognition given to the top-ranked investment advisors in the country.

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    Angeles was designated as a Greenwich Quality Leader in Overall U.S. Investment Consulting among midsized advisors in the 2017, 2018, 2019, 2020, 2021, and 2022 surveys. The study is primarily based on responses from Angeles clients. Angeles does not pay to have its clients participate in the study. The 2022 study covers 727 institutional clients, including 14 Angeles clients. The results may not be representative of any one client's experience because the results represent an average of all of the experiences of responding clients only.

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