New York-based Clear Alternatives is ready to make a name for itself in the asset management space.
Clear Alternatives is headed by Diane Garnick, previously the Investment Strategist at Invesco and Global Investment Strategist at State Street Global Advisors. The firm’s current suite of offerings include U.S. large cap value, small-to-mid- cap value, small cap value, and an absolute return strategies. According to Garnick, the firm is currently targeting foundation and endowment funds as well as pensions, specifically fire and police pension plans.
“A lot of asset managers have different specializations and almost none focus on these pension funds,” she told Money Management Executive. “These people need a tremendous amount of help in their retirement plans because they retire so young.”
Instead of busy picking service providers and building up marketing materials and white papers, Garnick said the rookie firm already had 22 client meetings and more are in the works with Merrill Lynch, State Street and Invesco. She said the firm will stick to its knitting as a women-owned asset management shop by interviewing more women for open positions.
“Our goal is to have 75% or more of company shares owned by women and to have 75% or more of the company employed by women,” she said.
Garnick added that the firm will build out its sales team in Q3 by hiring four or five sales people covering public funds, corporate funds and foundations on the East Coast, Midwest and West Coast.
Also, she mentioned that the firm has two other products in the works including a global equities offering and a low volatility product to be launched either in Q4 or early next year.