FORWARD-THINKING INVESTORS

Combining formidable insights, steadfast conviction, and meticulous execution, Angeles transcends every expectation of the world's most discerning asset owners by steering a decisive course through chaotic markets. Combining formidable insights, steadfast conviction, and meticulous execution, Angeles transcends every expectation of the world's most discerning asset owners by steering a decisive course through chaotic markets.

Angeles Wing MarkerAngeles Wing Marker

Our Insights

  • Updating the Triangle

    Blog

    Updating the Triangle

    Last year, I introduced my big picture framework of assessing the relative attractiveness of markets (Inside the Triangle) through the lenses of valuation, momentum and sentiment. To recap, the ideal ...

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  • Quarterly Commentary

    Quarterly Commentary

    Happiness

    Herodotus tells1 of the travels of Solon, the great Athenian lawgiver and jurist, who set out to travel the known world.

    View Archive VIEW ARCHIVE
  • Updating the Triangle

    Blog

    Updating the Triangle

    Last year, I introduced my big picture framework of assessing the relative attractiveness of markets (Inside the Triangle) through the lenses of valuation, momentum and sentiment. To recap, the ideal ...

    Read More READ MORE
  • Quarterly Commentary

    Quarterly Commentary

    Happiness

    Herodotus tells1 of the travels of Solon, the great Athenian lawgiver and jurist, who set out to travel the known world.

    View Archive VIEW ARCHIVE

Investment Services

  • Investment Overview

    Investment Overview

    In partnership with our clients, we set investment goals and establish a long-term asset allocation framework. We augment traditional...

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  • Outsourced Investment

    OUTSOURCED INVESTMENT OFFICE

    Angeles has been providing discretionary “Outsourced CIO” investment services to our clients since 2002. Today, we work with more than...

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  • General Consulting

    POOLED INVESTMENT STRATEGIES

    World-class public and private investments, typically inaccessible to most institutions due to high minimums, closed status or capacity constraints and complexity...

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  • Wealth Management

    WEALTH MANAGEMENT

    Angeles Wealth Management, LLC was founded to provide wealthy individuals and families with investment advice generally available to...

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  • Investment Expertise

    AREAS OF EXPERTISE

    Endowments & Foundations, Governments, Corporations & Insurance, Defined Benefit, Defined Contribution Plans & Private Clients...

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Our Senior Team

Investment Officers
  • Michael A. Rosen

    Michael A. Rosen

    Managing Partner & Chief Investment Officer

    Michael has more than 30 years experience as an institutional portfolio manager, investment strategist, and investment consultant.

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  • Leslie B. Kautz, CFA

    Leslie B. Kautz, CFA

    Managing Partner

    Leslie was a founder of Angeles Investment Advisors in 2001 and of Asset Strategy Consulting in 1991.

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  • Howard D. Perlow, CFA

    Howard D. Perlow, CFA

    Managing Partner

    Howard is a Managing Partner of Angeles Investment Advisors. He co-founded the firm with Leslie and Michael in 2001.

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  • David R. Brief, CFA

    David R. Brief, CFA

    Senior Managing Director

    David Brief is a leading expert in non-profit management with over 25 years of investment experience.

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  • Anna L. McGibbons, CFA

    Anna L. McGibbons, CFA

    Managing Director & Partner

    Anna joined Angeles Investment Advisors at its founding in 2001, and is a partner of the firm.

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  • Shana Mulkerin

    Shana Mulkerin

    Managing Director & Partner

    Shana joined Angeles Investment Advisors in 2005 and is a partner of the firm.

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  • Brandon Pevnick, CFA, CPA

    Brandon Pevnick, CFA, CPA

    Investment Officer & Portfolio Manager, Israel Fund

    Brandon works with foundations, endowments and other institutional portfolios.

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Michael J. Burlon

Michael J. Burlon

Director, Hedge Funds & Partner

Michael joined Angeles Investment Advisors in 2010 as a Hedge Fund Research Associate.

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Aaron M. Azelton, CFA

Aaron M. Azelton, CFA

Director, Public Markets & Partner

Aaron joined Angeles Investment Advisors as a Manager Research Consultant in 2012 and is a partner of the firm.

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Derrick Cruz

Derrick Cruz

Director, Private Markets

Derrick directs private capital manager research and selection and works with institutional investors to develop...

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Stephen T. Smetana

Stephen T. Smetana

Chief Compliance Officer & Partner

Steve joined AIA in 2008 as the Director of Funds Management and Chief Compliance Officer.

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Gina Cadei

Gina Cadei

Senior Associate, Operation & Partner

Gina executes trades for discretionary portfolios and monitors these portfolios for compliance with asset allocation.

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Tatijana Janko

Tatijana Janko

Director, Business Development

Tatijana joined Angeles Investment Advisors in 2014. She leads client development, serves as a consultant...

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NEWS & Events

News and Events

NEWS & EVENTS

2018 ANGELES INVESTMENT ADVISORS FOUNDATION SYMPOSIUM

Thank you for joining the conversation on private markets investing at the 2018 Angeles Foundation Symposium.
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    ACTIVE RISK MANAGEMENT

    While capital markets are broadly efficient, they are not perfectly efficient. There are many factors besides broad market risk that a significant portion of investors will shy away from, and for which the market will therefore award a risk premium. We believe that by thoughtfully adding these risks, rather than merely adding additional market exposure, investors can create a portfolio with a higher expected return and a better risk/return profile.

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    CONCENTRATED PORTFOLIOS

    Our highest conviction investments are concentrated to have impact in client portfolios, delivering superior risk-adjusted returns over time. Our boutique size provides clients with a structural advantage allowing us to allocate our best ideas across all our client portfolios.

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    HIGHLY SELECTIVE INVESTMENTS

    Independent teams with capacity constrained strategies will outperform large firms is a belief that guides our selection process. A focus on long-term investment success places tremendous weight on operational excellence, a quality in managers we deem non-negotiable. Decades of research experience have shown that manager integrity, transparency, and culture are intangible qualities essential to our investment success.

OUR PHILOSOPHY