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Rating:A Year-Old RIA Acquires a $4B Shop Not Rated 3.0 Email Routing List Email & Route  Print Print
Friday, March 10, 2017

A Year-Old RIA Acquires a $4B Shop

Reported by Marisa Santella

Fresh from an acquisition, a year-old Georgia RIA working with $4.7 billion is weighing launching its own mutual funds.

Earl Robinson
Consequent Capital Management
Founder, Chief Executive Officer
Consequent Capital Management acquired fellow Atlanta-based firm Gray & Company on February 1, 2017, after Consequent itself debuted in March 2016. Atlanta-based Consequent Capital Management along with its affiliate, Consequent Capital Investments, also has offices in Los Angeles and New Orleans.

Earl Robinson, founder and CEO of Consequent, tells MFWire, "We launched Consequent expressly to execute the acquisition of Gray."

Robinson says he also targeted Gray based on its strong performance history, diverse staff, and its $4-billion pool of assets. The business model of the combined firm is two-fold, managing discretionary investments, $1.2 billion under advisement, along with non-discretionary investments, $3.5 billion under advisement.

The discretionary side of Consequent invests in other investment managers, and offers products such as outsourced CIO, fund of funds, and alternative fund of funds such as real estate, private equity and hedge funds. Flexcap platforms are also available.

As far as mutual funds, Consequent is looking to offer alternative funds, and is considering building their own.

The non-discretionary side of Consequent "offers general investment consultancy and advisory services to public pension systems, corporate pension plans, endowments, foundations, and large family offices," according to Robinson.

Robinson also tells MFWire that Consequent focuses on firms that are predominately employed by women and African Americans. The firm puts a big emphasis on diversity.

The Consequent CEO became interested in the asset management industry 20 years ago during an internship with JPMorgan Investment Management.

He uses the strategies learned there to grow Consequent, and to "ensure those skills are used on behalf of clients who don't often have access to large asset managers," said Robinson.

Looking ahead, Robinson plans to launch direct loan funds in lower mid markets, and aim for presence in the West Coast (specifically in Southern California). He says that the strength of personal relationships and face to face interactions are a key part of those plans.

Per Robinson's preference for smaller, more intimate conventions and events, Consequent will host a manager round table in April to connect prospective partners to opportunities in real estate, direct loan funds, and private equity.  

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