Bramshill Investments, an alternative fixed-income shop led by a former GLG Partners portfolio manager, continues to grow at a rapid clip as it steps up marketing to wealthy individuals via financial institutions.
The Naples, Fla., operation, founded by Art DeGaetano, has grown assets under management by 46% in 12 months, boosted its headcount by more than 25% and, in recent weeks, made two key hires. Bramshill had $7.1 billion under management at the beginning of this year, up from $4.8 billion at the end of 2023, reflecting $2 billion in new capital the firm raised last year across several of its products.
Bramshill’s asset growth is due in part to an aggressive push to market its products through several large brokerage houses in the U.S., including Morgan Stanley and J.P. Morgan.
Bramshill manages capital on behalf of institutions, family offices and wealthy individuals via separate accounts, mutual funds, a UCITS vehicle and a hedge fund. The firm’s investment offerings target an array of primarily fixed-income securities, including investment-grade and high-yield bonds, U.S. Treasurys, exchange-traded funds, master limited partnerships, real estate investment trusts, municipal bonds, asset-backed securities, collateralized debt obligations, collateralized loan obligations and derivatives products.
The bulk of the firm’s capital – $4.9 billion – is managed via separate accounts, a mutual fund and a UCITS fund under the umbrella of a liquid-alternative strategy called Bramshill Income Performance Strategy. The strategy has produced an annualized gain of 5.7% since its inception in January 2009, 300 basis points above the Bloomberg U.S Aggregate Bond Index in the same period. The strategy was up 3.3% in 2024 and 7.9% in 2023, compared to the benchmark’s gains of 1.3% last year and 5.65% in 2023.
The Income Performance Strategy seeks to maximize total return across five U.S. fixed-income asset classes: investment-grade bonds, high-yield bonds, preferred securities, municipal bonds and U.S. Treasurys.
Another vehicle, dubbed Bramshill Multi-Strategy Income Fund, has delivered a 22% gain in the 25 months since Bramshill was hired as a subadvisor for the entity by mutual fund operator Liberty Street Advisors. The vehicle invests in structured products including residential mortgage-backed securities, commercial mortgage-backed securities and consumer asset-backed securities.
The firm’s conventional hedge fund, Bramshill Tactical Fixed Income Strategy, which has $187 million under management, has generated 3.1% on an annualized basis from inception in July 2018 to the end of 2024.
To accommodate its asset growth, Bramshill has been adding staff. The firm now employs 34 people, up from 27 at the end of 2023. Bramshill made two hires in January and five in 2024.
Bridgett Steiner joined the firm’s Newport Beach, Calif., office as an executive director in a sales and marketing role. She arrived at the firm from Pimco, where she was a vice president in the wealth-management division, handling sales and distribution of mutual funds, ETFs, separate accounts and alternative products in California. Previously, she was an analyst on Goldman Sachs Asset Management’s separate-account services team.
Dara Frey also was installed as an executive director last month in product development. She had been an executive director working on the chief investment officer’s investment-analysis team in UBS’s financial-services division. In that role, she was head of domestic and offshore ETFs, Unit Investment Trusts and mutual funds due diligence.
DeGaetano, Bramshill’s chief investment officer, established the company in 2012. He was a senior portfolio manager at hedge fund shop GLG Partners, where he ran a combined $375 million in a predecessor to the Bramshill Income Performance Strategy and a leveraged U.S. credit portfolio for the GLG Market Neutral Fund.
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Disclaimer
Information presented herein for informational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities. This article offers news and commentary, not personalized investment advice. Nothing in this article should be interpreted to state or imply that past performance is an indication of future performance. All investments involve risk and unless otherwise stated, are not guaranteed. There is the possibility of loss and all investment involves risk including the loss of principal. Be sure to consult with a tax professional before implementing any investment strategy. Investment Advisory Services offered through Bramshill, a Registered Investment Advisor with the U.S. Securities & Exchange Commission. Registration does not imply a certain level of skill or training. The five year return for the strategy is 2.60% and the 10 year return on the strategy is up 3.50% as of 12/31/2024.