For 2018, a Liquid Alts Entrepreneur Plans Hiring and Explores Income
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Friday, December 15, 2017

For 2018, a Liquid Alts Entrepreneur Plans Hiring and Explores Income

The chief of an employee-owned liquid alts shop plans to expand his team next year, and he's also looking into new products.

"We'll probably expand in the sales area, although very thoughtfully," Tom Florence, CEO of Denver-based 361 Capital [profile], tells MFWire. "We're in our sixth year of marketing automation which has worked exceptionally well for us."

That automation, Florence says, means 361 needs "less headcount than a traditional wholesaling model." 361 currently has 30 employees, nine of whom do investments while the rest are in sales, marketing, or operations.

"Data and technology are going to play a huge role in the future for distribution of investment products," Florence says. "We're thoughtfully adding people that fit well with our culture."

As for new products, Florence is interested in offering income-generating products in less-liquid vehicles like interval funds or BDCs. He mentions infrastructure and natural resources as two investing areas of interest.

"Today, we don't really have anything on the income side to offer our clients," Florence says. "There's a lot of product that's been developed [in credit origination and real estate], so we're looking at other areas."

Nearly all of 361's strategies are managed in-house, yet on the income side Florence expects they would partner with a subadvisor.

"If we can build something in-house that fits a need ... and we can do it as well as anyone, we'll build it," Florence says. "If not, we'll go partner with somebody."

He's also open to doing more acquisitions.

"Our strategy regarding acquisitions is to be opportunistic," Florence says. "That could easily happen again."

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