New Providence Asset Management L.P. (New York)

Name: New Providence Asset Management L.P.
Address: 570 Lexington Ave., New York, NY, 10022
Telephone: 646-292-1200

New Providence Asset Management L.P. is a large advisory firm based in New York. It manages $2.55 billion of regulatory assets for 18 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdiction of New York.

New Providence Asset Management provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

New Providence Asset Management: assets under management

The assets under management (AUM) of New Providence Asset Management L.P. is $2.55 billion. The firm's AUM has grown by 145% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.54 billion in discretionary accounts and $3.57 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $149.56 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.57 million.

New Providence Asset Management has custody of $1.6 billion in cash and securities for 15 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 62% of the total AUM. The second-largest asset type is exchange traded securities, which make up 17% of the firm’s portfolio. Investments in government bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay New Providence Asset Management L.P. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Raphael Joseph Delagueronneire serves?

The firm provides services to charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Raphael Joseph Delagueronneire is pooled investment vehicles with 3 clients and $699.28 million of assets under management. Among the 9 most similar advisory firms, New Providence Asset Management has the 4th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $1.78 billion for 14 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

New Providence Asset Management also advises several private funds. Namely, three other private funds. The minimum investment commitment required of non-related persons ranges from $1,000,000 to $10,000,000.

Careers at New Providence Asset Management L.P.

The company employs 20 people that are either part- or full-time employees. 60 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Raphael Joseph Delagueronneire has been acting as President since 1 May 2003. John Philip Paduano joined the executive team most recently as the Managing Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Ludwig Vogelstein	Managing director	1 May 2003	Other	1474010
Raphael Joseph Delagueronneire	President	1 May 2003	Other	1485509
Sara Stowe Ayres	Managing director	1 May 2003	Other	5048164
Andrew Wolf Vogelstein	Managing director	1 Jun 2003	Other	1389490
Lance Rue Odden	Managing director	1 Jan 2005	Other	5048171
Stephen Scott Miller	Chief financial officer	1 Aug 2006	Other	4136835
Renee Marie Noto	Managing director	1 Aug 2007	Other	1707693
Colin Gerard Ambrose	Managing direcotr	1 Sep 2007	Other	2863829
Npam Gp Llc	General partner	1 Jan 2008	Other	26-1849372
Npam Holdings Lp	Limited partner	1 Jan 2008	75% - 100%	26-1849461
John Ludwig Vogelstein	Chairman/ceo	1 Mar 2008	Other	1474010
Thomas Eugene Flanagan	Managing director	1 Mar 2009	Other	1789107
The John L. Vogelstein Revocable Trust	Limited partner	1 Jan 2010	25% - 50%	16-6568035
Pierson Friend	Managing director	1 Oct 2010	Other	4315276
Jeannine Garvin Caruso	Managing director	1 Jun 2014	Other	6373114
Brooke Stuart Parish	Managing director	1 Jun 2014	Other	1291251
Jlv Holdings I Llc	Limited partner	1 Apr 2015	Other	xxx-xx-xxxx
John Philip Paduano	Managing director	1 Jan 2017	Other	6776425
Matthew Stephen Salotti	Managing director	1 Jan 2017	Other	6776426

Indirect Owners

The SEC currently registers 7 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
John Ludwig Vogelstein	Chairman	1 Jan 2008	50% - 75%	1474010
Raphael Joseph Delagueronneire	President/ceo	1 Jan 2008	25% - 50%	1485509
The John L. Vogelstein Revocable Trust	Limited partner	1 Jun 2008	75% - 100%	16-6568035
John Ludwig Vogelstein	Trustee	1 Jun 2008	Other	1474010
The John L. Vogelstein Revocable Trust	Managing member	1 Jul 2008	Other	16-6568035
John Ludwig Vogelstein	Trustee	1 Jul 2008	Other	1474010
John Ludwig Vogelstein	Managing member	1 May 2015	75% - 100%	1474010

Based in New York

The principal office where New Providence Asset Management L.P. performs its advisory services is located at 570 Lexington Ave., New York, NY 10022, 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 646-292-1200 or by fax 646-292-1299. The normal business hours are 8:30am - 6:00pm on Monday - Friday. You can find more information about the New York firm at newprov.com.