Multi manager asset management business operator Virtus Investment Partners together with leading advisory firm Cliffwater LLC announced the establishment of Cliffwater Investments LLC. Cliffwater Investments would be an investment adviser that would sub advise a number of multi-strategy and multi-manager alternative funds for retail investors.
This venture would leverage Cliffwater's expertise as an advisory firm providing portfolio diversification for institutional investors as well its expertise in the market. The use of selected managers under an open architecture approach is currently being utilized by a number of institutions, endowments and pension funds. Currently, Cliffwater approximately oversees USD70 billion in assets, including USD52 billion in alternative strategies.
According to Virtus President and CEO George R. Aylward, "There is a growing understanding among financial advisors that portfolios constructed primarily with traditional equity and fixed income securities are reliant on an ongoing bull market and low interest rate environment to address their clients' needs."
He added, "We are leveraging Cliffwater's expertise in alternative investments to develop open architecture, multi strategy, multi-manager alternatives fuds. Cliffwater is well-regarded as an alternatives research and advisory firm, and with its institutional experience and disciplined approach to risk management, manager sourcing and portfolio construction, it is the right partner to help us solve the evolving needs of retail investors."
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