Covalent Partners LLC (Waltham)

Name: Covalent Partners LLC
Address: 930 Winter Street, Waltham, MA, 02451
Telephone: 617-658-5500

Covalent Partners LLC is a large advisory firm based in Waltham. It manages $182.32 million of regulatory assets for 4 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdiction of Massachusetts.

Covalent Partners provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Covalent Partners: assets under management

The assets under management (AUM) of Covalent Partners LLC is $182.32 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 629% since the beginning of its operation, and $48.41 million of the total AUM is attributable to clients outside of the United States.

The firm manages $182.32 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $45.58 million each.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Covalent Partners LLC 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 Covalent Partners serves?

The only and largest group of clients of Covalent Partners is pooled investment vehicles with 4 clients and $182.32 million of assets under management. Among the 9 most similar advisory firms, Covalent Partners has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $182.32 million for 4 clients. 27% of the firm’s clients are foreign persons or businesses.

Covalent Partners also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $5,000,000 for each fund.

Careers at Covalent Partners LLC

The company employs 8 people that are either part- or full-time employees. 75 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 doesn’t compensate 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 Lee Hockett	Managing member	1 Jul 2005	50% - 75%	1984566
Venkat Venkatraman	Managing partner	1 Jul 2005	50% - 75%	1882601
William Cronin Stone	Member - chief financial officer/chief compliance officer	1 Jan 2006	Other	4268213
William Duncan Benjes	Member	1 May 2009	Other	2327899
Neil Joseph Finneran	Member	1 Jan 2015	Other	4621471
David Andrew Foley	Member	1 Jan 2015	Other	2666649

Based in Waltham

The principal office where Covalent Partners LLC performs its advisory services is located at 930 Winter Street, Waltham, MA 02451, 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 617-658-5500 or by fax 617-658-5550. The normal business hours are 8:30 a.m. - 5:30 p.m. on Monday - Friday. You can find more information about the New York firm at covalentpartnersllc.com.