Atlas

Market Update, from the office of our CIO, Shival Bajpay

Let's talk #GP Stakes investing. GP Stakes is an exciting emerging asset class that offers accredited investors or qualified purchasers a rare combination of cash flow (yield) and growth. In a nutshell, a GP stakes investor is buying a piece, usually 25% or less, of the operating entity of an asset management firm. The firms have a variety of strategies and focus areas, ranging from private credit and PE to infrastructure and RE. What makes this asset class particularly interesting is that the cash flows are NOT tied to the interest rate environment because they are generated from contractual management fees (~2% per annum) on funds with a typical 10-year life span. As a sweetener, a lower interest rate environment is likely to increase the cadence of fund exits, which generates the carry (growth) component of the investment. The investments are spread across multiple GPs (6-10) that invest in different industries. So, the portfolio is well diversified, with a mix of equity and credit and as many as 100 end portfolio companies. Importantly, investors participate in the economics of all existing and FUTURE funds that the GP raises, meaning there is also vintage diversification. Net-net, we are targeting 8-10% cash yields, 20% IRR, and 3-5x MOIC. As an asset class, GP stakes has ~$60B in capital allocated to it today. I expect this number to double in the near future as more investors become aware of the opportunity. Atlas is currently working with a best-in-class GP Stake Fund Manager on raising a fund. If you're interested in learning more, please reach out.

Atlas Monthly Market Update: September 2024. From the office our CIO, Shival Bajpay.

Before you invest in the S&P 500, you need to know this 👇 In taxable investment accounts, you could miss out on 1-2% of returns due to tax inefficiencies. Without “tax alpha,” taxes can drag down your account’s performance over time. Enter... Direct Indexing This approach lets you track the S&P 500 while systematically harvesting losses to offset gains. You might think, “Just don’t sell,” but here’s the advantage - tax losses can be carried forward indefinitely. Even if you don’t sell every year, you can accumulate those losses and use them to reduce your tax burden when you eventually do sell. With Direct Indexing, you not only maintain exposure to the market but also optimize your tax strategy, potentially boosting your overall returns. #finance #personalfinance #investing Nothing in this video should be considered an offer, solicitation of an offer, or advice to buy or sell securities or investment products. This video is for informational and general educational purposes only and is not investment or financial advice. Investors should consider their investment objectives, risks and expenses carefully before investing.

Check out our latest #MarketUpdate from the office of our CIO, Shival Bajpay. If you're looking for help navigating these increasingly volatile and challenging markets, please reach out!

"Alternatives" are now becoming the CORE of client portfolios. The most recent JPM Family Office report shows that the average portfolio consists of a 45% allocation to Alts. That is an astounding statistic. At Atlas, we specialize in helping clients navigate the Alternative Asset landscape. We advise clients on which funds they should invest in and also provide clients with a steady pipeline of direct or co-investment opportunities. We are active in Real Estate, PE, VC, Private Credit, and Sports. As I have written previously, I believe we are in the early stages of the next "Golden Age" for Alts. Across the entire RIA and WM industry, less than 5% of the $100 trillion in AUM is currently allocated to alts. Family Offices are the investment arms of the world's wealthiest and most sophisticated individuals. If they have increased their Alt allocations to 45%, it's only a matter of time before traditional RIAs follow suit. That would imply that some $40T in AUM is looking to move into Alts soon. The record concentration in equity indices accelerates this trend. Another interesting stat from the report is that 80% of FO's work with an outside advisor. We have seen this firsthand at Atlas and would love to speak to any Family Office CIOs looking to partner with outside advisors on Alternative Investments and Tax-Alpha.

🔥 Hot off the press, Monthly Market Update from the office of the CIO. S/O Shival Bajpay. Check it out! Equities continued their positive streak in June but narrow market breadth and pockets of extended valuations have put concentration risk back in focus. In our latest CIO Review, Shival Bajpay shares perspectives on Fed policy, the bifurcation of equity market valuations, and potential implications of the 2024 US election. 

First edition of a weekly newsletter (under 300 words) to bring you insights on my thoughts, approach and expertise.

Excited to share our latest market outlook for the month of May! Our team has put together a comprehensive analysis of the current market trends and insights to help you make informed decisions. Click the link below to download the PDF and stay ahead of the curve. #MarketOutlook #MayTrends #BusinessInsights

Our monthly market update is now live! Markets are grappling with new data and emerging secular trends that are likely to have an impact across all asset classes. Check out our newest piece to see how we are helping clients navigate the environment.