TAM commenced fee-based advisory services on November 1, 2009. TAM is wholly owned by NorthStar
Memorial Group, LLC (“NorthStar”).
TAM provides investment advisory services on a fully discretionary or non-discretionary basis to
statutory trusts of Northstar maintained to provide for the payment of Northstar’s contractual
obligations (“Trust Clients”) and other separately managed accounts (“SMA Clients”). The Firm actively
manages portfolios with an overall goal of maximizing total returns subject to each Client’s risk profile
and investment objective. Clients may send their updated investment guidelines to TAM on a periodic
basis. TAM is also both manager and investment adviser to the following private pooled investment
vehicles on a discretionary basis: the Lighthouse Balanced Fund I LLC and the Lighthouse Stable Growth
Fund I LLC (the “Lighthouse Funds”), and the Axys Capital Income Fund LLC and the Axys Capital Total
Return Fund LLC (the “Axys Funds” and, together with the Lighthouse Funds, the “Private Funds”).
Information regarding these Private Funds can be found in each respective Private Fund’s offering
documents.
Calculated as of December 31, 2023, TAM had Regulatory Assets Under Management in the amount of
$2,413,220,842, all of which is managed on a discretionary basis.
Types of Investments
TAM, through its Investment Committee, recommends investments in a variety of asset categories,
including cash and cash equivalents, equities, debt or fixed income investments, and alternative
investments.
TAM offers investment advice on and utilizes the following types of investments:
Public
• Money market funds
• Fixed income securities
• Common and preferred stock
• Limited partnerships
• Open-end and closed-end mutual funds
• Derivatives based on tangible and intangible assets such as options and
futures
Private
• Real estate
• Energy interests
• Energy infrastructure
• Private equity
• Private debt
• Participation interests
TAM chooses combinations of these investments to form strategies it deems appropriate given the
Client’s investment objectives and risk tolerance.
TAM also uses certain leverage and hedging techniques, including derivatives designed to mimic equity
or debt positions, buying securities on margin, and selling securities short, all of which are either
permitted or restricted by each Client’s Investment Policy Statement.
Investment Strategies
TAM invests and manages Client assets in accordance with each Client’s Investment Policy Statement.
TAM believes that the crucial component of an investment strategy is the portfolio asset mix, or the
allocation between the various classes of securities available to the Client for investment purposes.
TAM generally allocates assets among the following asset classes/strategies: (1) balanced, (2) real
estate/other assets, (3) equities, (4) fixed income public debt, and (5) cash and cash equivalents.
In order to implement the investment strategies of a Client described in the Client’s Investment Policy
Statement, TAM may elect to invest some or all of the assets of the Client in the Private Funds, in private
investment vehicles managed by investment advisers not affiliated with TAM (“Third-Party Funds” and,
together with the Private Funds, “Funds”) or in separately managed accounts managed by a third-party
investment adviser (“Separate Accounts”). TAM may also determine that a third-party investment
adviser should be retained with respect to the management of particular categories of assets.
Clients and the state regulatory schemes to which they are subject may impose restrictions on investing
in certain securities or types of securities.