Spruce Investment Advisors, the asset manager and Chief Investment Officer for family offices and charitable institutions, today announced an agreement with Old Farm Partners. Under the terms of the agreement, Spruce and Old Farm Partners will collaborate to identify new investment opportunities with small and mid-sized hedge fund managers, as well as structure partnerships with managers that are designed to maximize alignment of investor interests.
Old Farm Partners was co-founded last year by Kieran Cavanna who previously managed the hedge fund selection team at Soros Fund Management, a multi-billion dollar family office.
"Kieran is a long time friend of the firm and we look forward to working with him and the team at Old Farm to create more value for our clients," said John Bailey, founder and CEO of Spruce. "We believe this new approach will help realign the investment process to the benefit of our clients as we seek to establish more incentive-oriented fee structures and customized investment options with managers."
"The new partnership between Old Farm and Spruce affords both organizations a tremendous opportunity for growth and development," said Cavanna. "John has been investing in hedged strategies for 16 years and we are excited about partnering with him and the Spruce team."
About Spruce Investment Advisor
Spruce Investment Advisors, LLC, is an award-winning wealth management firm based in Stamford, CTthat serves as a Chief Investment Officer for family offices, foundations and endowments. Spruce advises on broadly diversified portfolios, including traditional investment portfolios of global equities, fixed income, high income, liquid absolute return, currencies and commodities, and alternative investment portfolios featuring hedge funds, private equity, real estate and oil & gas. Since 2001, Spruce has helped families and investors benefit from a broad and sophisticated array of global investment opportunities, aggressive risk management, and objective investment advice.
About Old Farm Partners
Old Farm Partners is an NY-based hedge fund allocation firm focused on smaller and mid-sized hedge funds, as well as allocating co-investment opportunities. Old Farm was co-founded by Kieran Cavannain 2016 with the backing of a large U.S. university endowment. The firm's strategy is both an alpha strategy to generate high absolute returns as well as a strategy to lower aggregate fees paid by investors to a hedge fund program. The firm focuses on long-short and global macro-oriented strategies.
