Market Overview

Easterly Buys Levin Capital Strategies Institutional Business

Share:

Launches Levin Easterly Partners

Easterly,
an asset management holding company, today announced it has purchased
the institutional investment business of Levin Capital Strategies,
establishing Levin
Easterly Partners
, a long-only asset manager with approximately $6.1
billion in assets.

The new firm's investment and management team will hold a 35% stake in
Levin Easterly, providing a solid incentive for long-term growth.
Easterly owns a 65% stake.

"We are thrilled to form a partnership with this team of outstanding
investment talent," said Darrell Crate, who serves as Chairman of Levin
Easterly. "For years, this team has been consistently able to apply a
fundamental predictive research process to find value in the most
efficient segment of the equity market."

"We are pleased to partner with Easterly. I am confident that they will
be reliable stewards of this business. This was evidenced by the
overwhelming support of clients throughout the consent process, with
100% support from institutions," said John Levin, who founded Levin
Capital Strategies in 2005 and its predecessor, John A. Levin & Co., in
1982. John Levin will continue to manage select long-only and
alternative strategies through Levin Capital Strategies, which was not
part of the sale to Easterly. John Levin will act as a strategic advisor
to Levin Easterly.

Strong Leadership

Darrell Crate, the chairman of Levin Easterly, helped to build an asset
management powerhouse as Chief Financial Officer of Affiliated Managers
Group (NYSE:AMG) and founded Easterly in 2009 with the launch of Easterly
Government Properties, Inc.
(NYSE:DEA), a REIT that invests in real
estate leased to U.S. government agencies. Most recently led by Avshalom
Kalichstein, who has a long and distinguished track record of financial
services investing, Easterly has developed affiliates through Easterly
Partners
, which forges partnerships with entrepreneurial management
teams to build, manage and advance their platforms and operations; and Easterly
Acquisition Corp.
(NASDAQ:EACQ), a
Special Purpose Acquisition Company that, in November 2018, closed a
business combination with Sirius
International Insurance Group, Ltd
.

Jack Murphy serves as Chief Investment Officer of Levin Easterly, with
lead responsibility for investment decision-making. Murphy, who joined
John Levin in 1995, has been instrumental in developing and implementing
Levin Capital Strategies' approach to investment analysis. "As CIO, I
plan to continue to build upon our team's success, by delivering a
platform to clients that combines a time-tested investment discipline
within a management-owned investment boutique."

Added Crate, "All of us at Levin Easterly are excited to work with Jack
Murphy, an industry icon who has been recognized in
leading media
for his long-term performance over decades and through
multiple market cycles."

Glenn A. Aigen is Chief Executive Officer of Levin Easterly. Aigen, who
has been with Levin since 1993, will assume senior day-to-day management
responsibilities at Levin Easterly.

Mike Collins, Managing Director and Head of Business Development at
Easterly, leads marketing and distribution initiatives at Levin
Easterly, focusing on expansion of the firm's visibility among leading
institutional investors.

"At Easterly, our goal is to bring differentiated investment
opportunities to investors and that is what we are doing with Levin
Easterly," said Crate. "This research team is remarkable in the
consistency of approach and the results they have delivered to investors
for over two decades. We look forward to supporting the team with
resources, new products and access to new channels of distribution."

Levin Easterly's Strategies

Levin Easterly's investment philosophy provides a consistent and
repeatable investment process focused on identifying quality investments
in liquid securities that have excellent potential versus the risk.
Currently, the firm offers three primary strategies:

  • Large Cap Value: An actively managed
    portfolio, typically of 30-35 companies of which the firm believes it
    possesses a differentiated view than its peers.
  • Mid Cap Value: An actively managed
    portfolio, typically of 30-40 stocks that are quality companies, but
    down in price.
  • All Cap Value: An actively managed
    portfolio, typically of the firm's 20-25 best ideas, spanning large-,
    mid- and small-cap value stocks.

About Levin Easterly

Levin Easterly is a private asset management firm specializing in
serving institutions and high net worth individuals with approximately
$6.1 billion of AUM. The firm is focused on bottom- up, fundamental
research with the goal of preserving capital and generating profit
consistently through all market environments. For more information,
please visit Levin Easterly at https://LevinEasterly.com.

About Easterly

Easterly brings deep asset management industry expertise in originating,
underwriting and structuring asset management platforms. Our team
includes veterans of some of the most successful asset management
companies of the past decade. With their expertise, we are committed to
meeting the financial needs of institutions, including corporations,
foundations, endowments and pension plans, as well as the consultants
and advisors who guide them. For more information, please visit Easterly
at https://easterlycapital.com/.

View Comments and Join the Discussion!