Prophet Capital Asset Management LP (Austin)

Prophet Capital Asset Management LP is a large advisory firm based in Austin. It manages $3.12 billion of regulatory assets for 10 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Delaware, New York, and Texas.

Prophet Capital Asset Management provides 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.

Prophet Capital Asset Management: assets under management

The assets under management (AUM) of Prophet Capital Asset Management LP is $3.12 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 752% since the beginning of its operation, and $351.38 million of the total AUM is attributable to clients outside of the United States.

The firm manages $3.12 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $312.25 million each.

Prophet Capital Asset Management has custody of $2.9 billion in cash and securities for 6 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 83% of the total AUM. The second-largest asset type is other assets, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Prophet Capital Asset Management LP 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 Prophet Capital Asset Management serves?

The only and largest group of clients of Prophet Capital Asset Management is pooled investment vehicles with 6 clients and $2.9 billion of assets under management. Among the 9 most similar advisory firms, Prophet Capital Asset Management has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $2.9 billion for 6 clients. 40% of the firm’s clients are foreign persons or businesses.

Prophet Capital Asset Management also advises several private funds. Namely, three hedge funds. The minimum investment commitment required of non-related persons is $5,000,000 for each fund.

Careers at Prophet Capital Asset Management LP

The company employs 18 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 4 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
Catherine Toran	Chief financial officer	1 Jan 2000	Other	6316686
Michael Adam Hirschberg	Limited partner	1 Nov 2008	Other	1657873
Robert Alan Epstein	Limited partner	1 Nov 2008	50% - 75%	1734163
Prophet Capital Gp Llc	General partner	1 Nov 2008	Other	26-3753908
Kurt Rechner	Chief compliance officer	1 May 2009	Other	2632186
David Jonathan Rosenblum	Limited partner	1 Dec 2009	Other	2367263
Logan S Lowe	Limited partner	1 Jan 2015	Other	5160281
Michael James Murphy	Chief financial officer	1 Jun 2015	Other	6619842
Catherine Toran	Chief administrative officer	1 Jun 2015	Other	6316686

Based in Austin

The principal office where Prophet Capital Asset Management LP performs its advisory services is located at 5000 Plaza On The Lake Blvd, Austin, TX 78746, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 512-327-9500 or by fax 512-327-9515. The normal business hours are 7:30 - 5:00 cst on Monday - Friday.