Solas Capital Management, LLC (Darien)

Name: Solas Capital Management, LLC
Address: 1063 Post Road, Darien, CT, 06820
Telephone: 203-625-1300

Solas Capital Management, LLC is a large advisory firm based in Darien. It manages $287.51 million of regulatory assets for 3 client accounts. It has been registered with the SEC as an adviser since 2012.

Solas Capital Management 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.

Solas Capital Management: assets under management

The assets under management (AUM) of Solas Capital Management, LLC is $287.51 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 380% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $287.51 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $95.84 million each.

Solas Capital Management has custody of $76.95 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Solas Capital Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. 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 Solas Capital Management serves?

The only and largest group of clients of Solas Capital Management is pooled investment vehicles with 3 clients and $287.51 million of assets under management. Among the 5 most similar advisory firms, Solas Capital Management has the 2nd lowest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $287.51 million for 3 clients. None of the firm’s clients are foreign persons or businesses.

Solas Capital Management also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons is $500,000 for each fund.

Careers at Solas Capital Management, LLC

The company employs 4 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
Frederick Tucker Golden	Managing member	1 Sep 2004	75% - 100%	2938175
Anand Atre	Managing member	1 Sep 2004	50% - 75%	2938091
Estee Levy	Chief financial officer, chief compliance officer	1 May 2011	Other	6014785
Estee Levy	Chief compliance officer	1 Jan 2012	Other	6014785

Based in Darien

The principal office where Solas Capital Management, LLC performs its advisory services is located at 1063 Post Road, Darien, CT 06820, 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 203-625-1300 or by fax 203-621-3310. The normal business hours are 9 am - 5 pm on Monday - Friday. You can find more information about the New York firm at solascapital.com.