Rivernorth Capital Management, LLC is a large advisory firm based in Chicago. It manages $3.47 billion of regulatory assets for 17 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Connecticut, Illinois, Pennsylvania, and Washington.
Rivernorth Capital Management provides portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and model portfolio manager. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Rivernorth Capital Management, LLC is $3.47 billion. The firm's AUM has grown by 620% since the beginning of its operation, and $4.51 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Rivernorth 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.
The firm provides services to investment companies, charitable organizations, other investment advisers, and pooled investment vehicles. The largest group of clients of Rivernorth Capital Management is investment companies with 11 clients and $2.82 billion of assets under management. Among the 9 most similar advisory firms, Rivernorth Capital Management has the highest percentage of investment companies out of all clients.
The amount of regulatory assets under management is $3.47 billion for 17 clients. None of the firm’s clients are foreign persons or businesses.
Rivernorth Capital Management also advises several private funds. Namely, three hedge funds and one other private fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.
The company employs 23 people that are either part- or full-time employees. 35 percent of the employees work as investment advisers or researchers. 10 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Rivernorth Capital Management, LLC performs its advisory services is located at 325 N Lasalle, Chicago, IL 60654, 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 312-832-1440 or by fax 312-832-1461. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at rivernorth.com.