First Quadrant LP (Pasadena)

Name: First Quadrant LP
Address: 800 East Colorado Blvd, Pasadena, CA, 91101
Telephone: 626-795-8220

First Quadrant LP is a large advisory firm based in Pasadena. It manages $20.08 billion of regulatory assets for 46 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California and Massachusetts.

First Quadrant provides portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

First Quadrant: assets under management

The assets under management (AUM) of First Quadrant LP is $20.08 billion. The firm's AUM has grown by 76% since the beginning of its operation, and $8.07 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $19.6 billion in discretionary accounts and $472.82 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $445.54 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $236.41 million.

First Quadrant has custody of $1.48 billion in cash and securities for 3 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in derivatives the most. They account for 73% of the total AUM. The second-largest asset type is exchange traded securities, which make up 9% of the firm’s portfolio. Investments in sovereign bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay First Quadrant LP for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients First Quadrant serves?

The firm provides services to investment companies, pooled investment vehicles, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of First Quadrant is pension and profit sharing plans with 17 clients and $10.32 billion of assets under management. Among the 13 most similar advisory firms, First Quadrant has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $19.26 billion for 43 clients. 39% of the firm’s clients are foreign persons or businesses.

First Quadrant also advises several private funds. Namely, four hedge funds. The minimum investment commitment required of non-related persons ranges from $10,000 to $1,000,000.

Careers at First Quadrant LP

The company employs 84 people that are either part- or full-time employees. 36 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 5 people 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Robert Douglas Arnott	Chief executive officer, limited partner	1 Apr 1988	Other	1532951
Timothy Stephan Meckel	Director of client service, limited partner	1 Sep 1988	Other	4348755
Max Darnell	Director of research, limited partner	1 Apr 1991	Other	2725102
Curtis Justin Ketterer	Chief operating officer, limited partner	1 Jun 1995	Other	4348261
Christopher Gerald Luck	Director of equity portfolio management, limited partner	1 Sep 1995	Other	4348289
First Quadrant Corp.	General partner	1 Dec 1995	75% - 100%	22-2604001
Amg Ca Holdings Corp.	General partner	1 Mar 1996	75% - 100%	22-2604001
William A R Goodsall	Limited partner	1 Mar 1996	Other	4348921
Robert Hayes Brown	Limited partner	1 Mar 1996	Other	4348930
Timothy Stephan Meckel	Director of client service, limited partner	1 Apr 1996	Other	4348755
Kent Charles Roberts	Director of marketing, limited partner	1 Mar 1997	Other	4348761
Lloyd Everett Cole	Chief information officer, limited partner	1 Mar 1998	Other	2069957
Curtis Justin Ketterer	Chief operating officer, limited partner	1 Jun 1998	Other	4348261
Phillip Todd Miller	Director of options products, limited partner	1 Mar 1999	Other	1284784
Christopher Gerald Luck	Director of equity portfolio management, limited partner	1 Sep 1999	Other	4348289
Christopher Justin Adolph	Director of trading	1 Jan 2000	Other	4348958
Kenneth John Ferguson	Director - research	1 Feb 2000	Other	4348976
Jia Ye	Director - equity research	1 Feb 2000	Other	4352560
Kenneth Richard Funk	Chief compliance officer	1 Jun 2000	Other	4352562
Robert Kenneth Murray	Director - marketing	1 Oct 2000	Other	2197631
Mark Brewster Billings	Director - marketing	1 Feb 2001	Other	810409
Phillip Todd Miller	Director options and derivative products, limited partner	1 Jul 2001	Other	1284784
Mark A Arredondo	Director - programming & systems	1 Jan 2002	Other	4508678
Robert Douglas Arnott	Chairman, limited partner	1 Apr 2002	Other	1532951
Ronnie Max Darnell	Chief investment officer, managing partner	1 Feb 2003	Other	2725102
Max Darnell	Chief investment officer, limited partner	1 Feb 2003	Other	2725102
Dori Samuel Levanoni	Director - research	1 Feb 2003	Other	2741857
Joel Lane Brouwer	Partner, chief financial officer	1 Jan 2004	Other	4770155
Andrew Laurence Berkin	Director - research	1 Jan 2004	Other	4770161
Christopher Gerald Luck	Director of global equities, limited partner	1 Nov 2004	Other	4348289
Andre Francois Perold	Chairman of the advisory panel, limited partner	1 Jan 2005	Other	4660204
Kenneth John Ferguson	Co-director of global derivatives, limited partner	1 Apr 2005	Other	4348976
Dori Samuel Levanoni	Co-director of global derivatives, limited partner	1 Jan 2006	Other	2741857
Steven Benjamin Richey	Director of global derivatives trading/limited partner	1 Jan 2007	Other	3151157
Christopher Gerald Luck	Co-director of portfolio management, limited partner	1 Oct 2007	Other	4348289
Phillip Todd Miller	Options strategies, limited partner	1 Oct 2007	Other	1284784
Kenneth John Ferguson	Co-director of research, limited partner	1 Oct 2007	Other	4348976
Dori Samuel Levanoni	Co-director of research and portfolio management, limited partner	1 Oct 2007	Other	2741857
Steven Benjamin Richey	Director of trading and global options, limited partner	1 Oct 2007	Other	3151157
Jia Ye	Chief investment strategist, limited partner	1 Jan 2008	Other	4352560
Dori Samuel Levanoni	Partner, investments	1 Mar 2008	Other	2741857
Christopher Gerald Luck	Director of equity portfolio management, limited partner	1 Mar 2008	Other	4348289
Kenneth John Ferguson	Co-director of global macro, limited partner	1 Mar 2008	Other	4348976
Jia Ye	Partner, investments	1 Apr 2008	Other	4352560
Steven Benjamin Richey	Director of global options strategies, limited partner	1 Apr 2008	Other	3151157
Sharon Marla Goldberg	Chief compliance officer	1 May 2010	Other	3103791
Edgar Eugene Peters	Partner, investments	1 Jun 2010	Other	2019055
Joseph Andrew Germain	Managing director, head of business development	1 Jul 2011	Other	2161969
Jeffrey Tadanori Shimamoto	General counsel & chief compliance officer	1 Sep 2011	Other	5983222
Jeff Chenghsun Chang	Chief compliance officer	1 Jan 2013	Other	2870017
James Rutledge Tufts	Managing director, chief operating officer	1 Sep 2013	Other	1444943
Eugene Park	Director, general counsel	1 Apr 2016	Other	4901515

Indirect Owners

The SEC currently registers 5 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. First Quadrant Holdings	Owner	1 Dec 1995	75% - 100%	04-3413545
Inc. Affiliated Managers Group	Owner	1 Dec 1995	75% - 100%	04-3218510
Llc First Quadrant Holdings	Sole shareholder	1 Sep 2002	75% - 100%	04-3413545
Inc. Affiliated Managers Group	Sole member and manager	1 Sep 2002	75% - 100%	04-3218510
Llc Amg Ca Holdings	Series a shareholder	1 Sep 2002	75% - 100%	04-3413545

Based in Pasadena

The principal office where First Quadrant LP performs its advisory services is located at 800 East Colorado Blvd, Pasadena, CA 91101, which is also the mailing address of the firm. An additional office of the firm is in Framingham, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 626-795-8220 or by fax 626-396-3298. The normal business hours are 8:00 am pst to 5:00 pm pst on Monday - Friday. You can find more information about the New York firm at firstquadrant.com.