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Adviser Profile

As of Date 03/28/2024
Adviser Type - Large advisory firm
Number of Employees 19 -17.39%
of those in investment advisory functions 9 -30.77%
Registration SEC, Approved, 09/27/2011
AUM* 4,058,044,141 -8.28%
of that, discretionary 4,029,455,090 -8.38%
Private Fund GAV* 180,275,772 24.26%
Avg Account Size 156,078,621 -11.81%
SMA’s Yes
Private Funds 1
Contact Info 203 xxxxxxx
Websites

Client Types

- Banking or thrift institutions
- Pooled investment vehicles
- Pension and profit sharing plans
- Charitable organizations
- State or municipal government entities
- Insurance companies

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
6B 5B 4B 3B 3B 2B 871M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeOther Private Fund Count1 GAV$180,275,772

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Brochure Summary

Overview

SKY Harbor is a women-led, independent investment management firm organized in August 2011 pursuant to the Delaware Limited Liability Company Act and registered as an investment adviser with the SEC under the Advisers Act. The Firm is exclusively focused on managing portfolios comprising corporate high yield bonds and leveraged loans for a global institutional and private wealth management client base. The firm’s co-founders, Hannah Strasser and Anne Yobage, have invested together as a team continuously for over three decades, and in the most recent of the last two decades have been joined by David Kinsley, Principal, who worked with the co-founders in their prior positions and joined with them as a part of the senior management team at the founding of SKY Harbor. The trio of senior managers have been applying their investment process through a wide range of diverse market conditions and economic cycles. SKY Harbor’s considerations of environmental, social, and governance (“ESG”) factors in its investment process were well underway before it publicly became a signatory to the UN-backed Principles for Responsible Investment (“PRI”) in October 2015 and the UN Global Compact in 2017. The Firm is a wholly owned subsidiary of SKY Harbor Capital Holdings LLC, a Delaware limited liability company. As of December 31, 2023, the Firm has total regulatory assets under management (“AUM”) totaling approximately $ 4,058,000,000. SKY Harbor provides continuous and regular supervisory or management services with respect to discretionary and non-discretionary portfolio management services in two flagship corporate high yield strategies: the broad high yield market and the short duration high yield strategies, both of which invest primarily in below-investment grade (“high yield”) debt securities and to a lesser extent from time to time depending on market conditions in syndicated bank loans of high yield issuers. The Firm does not offer other types of investments, although the Firm offers a number of constrained, unconstrained or hybrid variations of the flagship strategies including investment portfolios that incorporate US Treasuries or have socially responsible investment objectives that incorporate at least three commonly defined ESG strategies and standards, namely: ESG Integration, Negative Exclusions and Engagement. The broad high yield market strategy is typically managed against the ICE BofA US High Yield Index, a commonly used benchmark for high yield corporate bonds and a measure of the broad U.S. high yield market. Alternatively, the broad high yield market strategy may also be managed against a similar high yield benchmark to accommodate particular client needs or a customized version of the strategy. For example, the global version of the broad high yield strategy is managed against the ICE BofA Global High Yield Index (“HW00”). The flagship short duration high yield strategy is an absolute return strategy and is generally not managed against a benchmark unless otherwise expressly disclosed in an offering document, requested by client for a particular account, or is one of the customized versions of the strategy. Unless otherwise directed by a client account, the Firm generally has full power and authority to supervise and direct the investment of assets of its separate accounts and pooled investment vehicles 5 of 30 and manages those assets for U.S. and non-U.S. institutional clients and will tailor its investment management services to clients’ particular needs. Clients may impose reasonable restrictions on investing in certain types of securities or to impose other constraints on the way in which they want the Firm to manage their separate accounts, such as by expressly incorporating ESG or other socially responsible objectives. These restrictions or constraints to each client’s investment guidelines are set forth or incorporated by reference in the client's Investment Advisory/Management Agreement or in the applicable Prospectus or Confidential Private Offering Memorandum. SKY Harbor is the exclusive investment manager to SKY Harbor Global Funds, an open-end umbrella management investment company currently with three socially responsible sub-funds incorporated in Luxembourg and registered with the Commission de Surveillance du Secteur Financier (“CSSF”), (the securities regulator in Luxembourg), pursuant to Luxembourg laws that have been adopted in accordance with various Directives
and Regulations issued by the European Parliament and Council of the European Union, of which the most applicable is referred to generally as the European UCITS Directive (an acronym for “Undertakings for Collective Investment in Transferable Securities”). The European UCITS Directive is a regulatory regime governing the establishment, obligations, operations, and investment policies of SKY Harbor Global Funds, which can be thought of as the European equivalent of a registered investment company or what is commonly understood in the United States as a mutual fund. Mr. Gordon Eng, the Firm’s General Counsel & Chief Compliance Officer along with Messrs. Philippe Descheemaeker and Stefan Balog, two Managing Directors of SKY Harbor Capital Management GmbH1 (“SKY Harbor GmbH”), together serve as directors on the board of SKY Harbor Global Funds while Mr. Justin Egan, Managing Director, Carne Global Financial Services Limited and Ms. Sophie Mosnier serve as independent board directors. The SKY Harbor Global Funds management fee paid to SKY Harbor varies by each share class and sub-fund as described in the prospectus. Such management fees range from a low of 0.45% p.a. for large institutional subscriptions and up to 1.1% p.a. for certain retail shares calculated on the aggregate invested assets. The management fees are accrued daily and paid monthly. The shares of SKY Harbor Global Funds have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and SKY Harbor Global Funds has not been and will not be registered under the Investment Company Act of 1940 (“ICA”) and accordingly, its shares may not be offered, sold, transferred, or delivered, directly or indirectly, in the United States or to any United States persons, except in compliance with the securities laws of the United States and any state thereof in which such offer or sale is made. SKY Harbor is the sole General Partner and Investment Manager to SKY Harbor Broad High Yield Market Partners, LP (the “Private Fund”), a Delaware limited partnership exempt from registration under Section 3(c)(7) of the ICA. The limited partnership interests offered have not been and will 1 SKY Harbor GmbH is a wholly owned subsidiary of the Firm located in Frankfurt, Germany, and regulated by the German Federal Financial Supervisory Authority (“BaFin”). SKY Harbor GmbH is the Principal Distributor and marketing arm of SKY Harbor Global Funds and does not trade securities for clients, charge brokerage commissions, and does not manage or advise client portfolios. 6 of 30 not be registered under the Securities Act of 1933 (“Act”), as amended, nor the ICA, and such interests are to be offered in reliance upon exemptions under the Act to Accredited Investors as defined in Rule 501 of the Act and Qualified Purchasers as defined in the ICA. SKY Harbor Broad High Yield Market Partners, LP began business on April 1, 2013. SKY Harbor's co-founders — Hannah Strasser and Anne Yobage — have worked together since 1990. From 1992 until 1995, they along with former co-founding partner, Tom Kelleher, comprised the High Yield Bond Group of Deltec Asset Management LLC in New York City. In 1995, they — together with the Deltec Small Cap Equity Team — formed Cardinal Capital Management, L.L.C., an independent investment manager based in Greenwich, CT. In 2001, they joined AXA Investment Managers, Inc., a subsidiary of the AXA Group. In June 2011, they resigned their positions with AXA Investment Managers, Inc. and joined SKY Harbor in late September 2011. See Item 10 below for information regarding entities affiliated with the Firm. Prior to March 2020, the Firm operated with its primary physical presence at 20 Horseneck Lane in Greenwich, CT. Since the Pandemic, the Firm has operated as a remote-first organization with 20 Horseneck Lane serving as its “virtual” office, providing a corporate address and on-demand conference room capability and other services. After considerable analysis, post-Pandemic, the Firm converted to a remote-first culture in the belief that a remote-first culture best supports transversal communication, a reduced net carbon footprint, employee engagement and recruitment and client service that is seamlessly integrated by a robust and resilient cloud-based IT infrastructure. The uniqueness of the Firm’s culture is maintained by daily video conferencing and enlarged through firm-wide social events, small group in-person luncheons or meet-ups.