Stonehaven functions as a robust platform for a diverse community of independently branded Affiliate Partner groups.
Affiliate Partners join the Firm to leverage our comprehensive due diligence, structuring, market positioning, compliance, sales strategy, pipeline management, accounting, legal resources, and integrated technology systems. The Firm’s infrastructure provides Affiliate Partners with the economies of scale and best practices of an industry leading institution. This foundation and support allow Affiliate Partners to focus on their core competency: sourcing and structuring high quality investment ideas to introduce to their ever-evolving network of investor relationships.
Affiliate Partners focus on investment opportunities they originate and often opt into representing additional mandates originated by Stonehaven’s internal team and other Affiliate Partners. Stonehaven maintains a significant number of active mandates simultaneously across the platform which are complementary to each other in strategy, geography and vehicle structure, giving Affiliate Partners an extensive portfolio of potential products that create revenue synergies.
This broader opportunity set enables Affiliate Partners to deliver a more diverse set of products to their relationships and increases the potential of success on our platform compared with operating independently. Affiliate Partners also leverage other partners of the platform to expand distribution on mandates they source, often accessing different geographies or types of investors.
Affiliate Partner groups are carefully selected by Stonehaven based on their industry reputation, sourcing capability, proven ability to raise capital, compliance orientation, financial stability, and the differentiation of their business model. Stonehaven cultivates a dynamic community among our Affiliate Partners who often collaborate on various mandates and/or share information on the marketplace to optimize their activities.
Managing Partner: Leslie Carranza
Strategy Focus: Hedge Funds, Private Equity, Real Estate
Geographic Coverage: United States, Canada; Europe
Leslie Carranza | Managing Partner
Leslie Carranza is the Managing Partner of Adara Capital. Prior to founding Adara Capital, Ms. Carranza was a Managing Director of Ridgeway Capital Group, LLC. While at Ridgeway Capital, Ms. Carranza raised in excess of $275 million for alternative investment managers in the private equity and hedge fund arena both in developed and emerging markets. Prior to joining Ridgeway Capital in New York, Ms. Carranza served as an Executive Search Consultant conducting senior level assignments for a variety of private and public real estate owners, developers, private equity funds, family offices and investment managers. Prior to recruiting she served as an Account Executive with Bloomberg LP. Ms. Carranza spent the first eleven years of her finance career as an Institutional Taxable Fixed Income Salesperson for Merrill Lynch, J.P. Morgan and Cowan & Company.
Ms. Carranza earned an M.B.A. from Columbia University and a B.E. in Civil Engineering, graduating magna cum laude, from Villanova University. Ms. Carranza currently holds the Series 7, 63 and 79 registrations with FINRA.
Director: David Anness
Strategy Focus: Hedge Funds
Geographic Coverage: North, Central and South America
David Anness | Director
David Anness is the Managing Partner and Founder of Anness Advisors LLC. Mr. Anness specializes his efforts on capital raising for alternative investment managers with a focus on Latin American strategies.
Prior to launching Anness Advisors, Mr. Anness was a Portfolio and Risk Manager for Perimeter Asset Management, a Brazilian asset management firm where he was responsible for portfolio construction and risk associated with the partners’ fund. Prior to Perimeter, Mr. Anness was a founding partner of Vila Nova Asset Management which was an opportunistic wealth management platform that had offices in Sao Paulo, Brazil and Buenos Aries, Argentina.
Prior to Vila Nova Asset Management, Mr. Anness was a Junior Partner with Cantor Fitzgerald Securities in New York. Mr. Anness managed emerging market equity sales, Forex sales, and established and managed a new trading desk to distribute OTC Latin American ADRs which grew to managing 10 traders and approximately 35% of the market share for this type of operation. Prior to Cantor Fitzgerald, Mr. Anness was a senior trader for Tullet and Tokyo Forex Ltd, and a trader for Chase Manhattan Bank; both trading positions were based in London.
Mr. Anness attended Dovedale College of Further Education in Chelmsford, England. He currently holds the Series 7 and 63 registrations with FINRA. Mr. Anness is a permanent Brazilian resident where he resides with his wife and four children. He is fluent in English and Portuguese. Earlier in his career, Mr. Anness crewed on the tallship “Europa” from Canada to Antarctica, and raced in several regattas in Nova Scotia and Amsterdam.
Partners: Brian R. Gill, Samuel S. Glass, Corey J. Chisnell
Strategy Focus: Real Estate, Private Equity
Geographic Coverage: North America
Brian R. Gill | Partner
Prior to the formation of Artis Advisors, Mr. Gill was a co-founding Managing Director of Kalorama Realty Capital, a predecessor company to Artis Advisors. Before forming Kalorama, Mr. Gill was an Associate Director at Cushman & Wakefield, where his transaction volume exceeded $500 million. Prior to Cushman & Wakefield, Mr. Gill acquired and financed over $150 million in multifamily properties at Bonaventure Realty Group, where he rose from Analyst to Vice President.
He serves as Adjunct Professor of Finance and Real Estate at Georgetown University’s McDonough School of Business and has also taught MBAs at George Washington University. Mr. Gill holds Masters degrees in business and economics from Northwestern University and the London School of Economics and a BA from the University of South Florida. He is an active member of the Urban Land Institute (ULI) and the Pension Real Estate Association (PREA). Mr. Gill currently holds the Series 7, 24, 63 and 79 registrations with FINRA.
Samuel S. Glass |Partner
Samuel Glass is a co-founding Partner of Artis Advisors. Mr. Glass works primarily in sourcing and executing compelling real estate investment opportunities.
Prior to the formation of Artis Advisors LLC, Mr. Glass was a co-founding Managing Director of Kalorama Realty Capital, a predecessor company to Artis Advisors LLC. Previously, Mr. Glass worked for Federal Capital Partners (FCP), a real estate private equity firm which has acquired more than $2 billion of real estate assets and debt in the mid-Atlantic. At FCP, Mr. Glass’ responsibilities included financial projections, asset management, investor relations, acquisitions and capital events (dispositions and refinancings).
Before joining FCP, Mr. Glass was an Investment Analyst with The World Bank’s Pension Investments Department, where he focused on limited partnership investments and co-investments with sponsors of private equity and real estate investment funds. Mr. Glass’ prior experience also includes two stints at JPMorgan Chase & Co. in investment banking and real estate principal investing, respectively.
Mr. Glass received his MBA from Columbia Business School and BA from Yale University. He is an active member of PREA and the DC Real Estate Group. Mr. Glass currently holds the Series 7 and 63 registrations with FINRA.
Corey J. Chisnell | Partner
Corey Chisnell is a Partner of Artis Advisors. Mr. Chisnell works primarily in sourcing and executing compelling real estate investment opportunities.
With over 20 years in the real estate and investment banking industries, Mr. Chisnell has completed transactions totaling over $30 billion in aggregate, spanning M&A, recapitalizations, equity private placements and offerings of public equity, preferred stock, public debt and bank debt.
Prior to joining Artis Advisors, Mr. Chisnell was engaged as a consultant with PRP, LLC and Ridge Property Trust, raising institutional private equity. From 2008 to 2013, Mr. Chisnell was a Director in the Real Estate Investment Banking Group of BMO Capital Markets, where he led transaction coverage of public REITs and private real estate companies. From 2005 to 2008, Mr. Chisnell was a Principal in the Real Estate Investment Banking Group at Stifel, Nicolaus & Company, where he was responsible for transaction execution of public offerings of equity and debt, M&A, and private placements. From 2000 to 2005, Mr. Chisnell was responsible for business origination and transaction execution as a Senior Vice President for Moag & Company, a boutique investment banking firm focused on the sports and media industries.
Mr. Chisnell received a BBA from the University of Wisconsin, majoring in Real Estate & Finance, and an MBA from the University of Chicago. Mr. Chisnell currently holds the Series 7 and 63 registrations with FINRA.
Managing Partners: Daniel Rummery, Tim Chamberlain
Strategy Focus: Hedge Funds, Private Equity, Real Estate
Geographic Coverage: United States; South America with a focus in Brazil; Canada; Europe; Middle East; Asia
Daniel Rummery | Partner & Co-Founder
Daniel Rummery is a Partner and Co-Founder of Brunel Advisors. Prior to co-founding Brunel Advisors, Daniel set up LatAm Capital Partners in Sao Paulo when he moved to Brazil in 2013.
Daniel also co-founded Ridgeway Capital LLC in 2007. Ridgeway Capital, headquartered in New York, is a leading global placement agent. Daniel started his capital raising activities at TARA Capital, a European hedge fund marketing firm, where he focused on global asset raising with a focus on bringing international investors to Brazil. He was successful in raising over USD $1bn for Brazilian Managers, both funds and transactions. Mr. Rummery began his career at JP Morgan.
Mr. Rummery earned a B.A. from Bournemouth University in the U.K. Mr. Rummery lives in Sao Paulo, Brazil. Mr. Rummery currently holds the Series 7, 63 and 79 registrations with FINRA.
Tim Chamberlain | Partner & Co-Founder
Mr. Chamberlain is a Partner and Co-Founder of Brunel Advisors. Mr. Chamberlain has been based in Sao Paulo, Brazil since 2010 and since arriving in Brazil has been an investor and partner in an Agribusiness-focused finance firm, and later worked on the restructuring of a large Brazilian asset manager.
In late 2013, Mr. Chamberlain established his own firm, Cabrera & Company which was focused on capital raising within the alternative investment industry in Latin America. Mr. Chamberlain began his career with Euromoney Institutional Investor in Hong Kong in 2000, and later joined the hedge fund database company, Eurekahedge at its launch in Singapore in 2002. Mr. Chamberlain served in multiple roles at Eurekahedge and was instrumental in launching its capital raising business, Eureka Capital Partners, and opening their New York office in 2004.
Mr. Chamberlain received a B.Sc. from Oxford Brookes University in the UK. Currently, Mr. Chamberlain holds the Series 7 & 63 registrations with FINRA.
Henry Willans | Partner
Mr. Willans is a Partner at Brunel Advisors, and works closely with the Co-Founders, Daniel Rummery and Tim Chamberlain, in focusing on business development, advisory services and capital raising in the alternative investment industry.
Mr. Willans brings significant alternative investment experience to Brunel Advisors. Prior to joining Brunel Advisors, Mr. Willans was an Executive Director and Global Head of Relationship Management for BTG Pactual’s Merchant Banking Group, based in Sao Paulo, where he led a global team responsible for all aspects of client activities and relationships across the Private Equity, Infrastructure, Real Estate and Timberland strategies. Prior to BTG Pactual, Mr. Willans was an Executive Director at Goldman Sachs, where he led the Alternative Investments and Manager Selection (AIMS) Group in Latin America, and was portfolio manager for the group’s growth and emerging market private equity business, focusing on private equity primaries, secondaries and co-investments. Prior to moving to Brazil, Mr. Willans was a Vice President within the AIMS Private Equity Group for Goldman Sachs based in London. Previously Mr. Willans was an Associate on the investment team for the Petershill Fund within Goldman Sachs Asset Management Division and an Analyst in the Investment Banking Division of Goldman Sachs. Prior to his financial career, Mr. Willans served as Project Officer for BAE systems and an Engineer for Nortel Networks.
Mr. Willans holds a Master of Engineering degree and a Master of Arts degree from the University of Cambridge, Trinity College. Currently, Mr. Willans holds his Series 7 and Series 63 registrations with FINRA.
Managing Partner & Founder: L. Eston Woodard III, CAIA
Strategy Focus: Hedge Funds, Private Equity, Real Estate, Direct Deals
Geographic Coverage: North America
L. Eston Woodard III, CAIA | Founder & Managing Partner
Eston Woodard is the Managing Partner and Founder of CognitiveG Capital Partners LLC. Mr. Woodard focuses his efforts on capital raising for alternative investment managers with niche and non-correlated strategies.
Prior to launching CognitiveG Capital Partners, Mr. Woodard was a Managing Director at Riverside Management Group/BCW Securities, a boutique merchant bank where he was responsible for deal sourcing, alternative investment manager research, and institutional capital formation. As a Managing Director, Mr. Woodard spearheaded engagements for venture capital, emerging hedge fund, technology, and real estate private equity managers. During his tenure at RMG, Mr. Woodard either advised or participated in approximately $250M of successful financings across many verticals including: maritime, natural resources, real estate and infrastructure.
Mr. Woodard also has an extensive background in high-technology. As a Lead Sales Executive at IBM he positioned their flagship hybrid-cloud computing platform on Wall Street. He leveraged competitive intelligence and strategic product positioning to optimize enterprise IT economics and enhance system resiliency. Mr. Woodard helped launch a completely new, transformational IT life-cycle paradigm and articulated the nuances of organizational change-management. He delivered DCF financial models for infrastructure capital investment driving millions in revenue.
As an IBM Partner, he engaged market data latency, clock synchronization and feed handling complexities of buy-side technology for global capital markets. He closed an enterprise private cloud deal with a U.K. based investment bank that improved market resiliency, scalability, and efficiency. Prior IBM, Mr. Woodard was one of Oracle Corporation’s leading national business development executives for Retail SaaS applications.
Mr. Woodard earned an AB from The College of William & Mary, an MA in Religion with a concentration in Social Ethics from Yale University, and an MBA in Banking with Merit from The University of London in 2011. He currently holds the Series 62, 63, and 65 registrations with FINRA, and has earned the designation of Chartered Alternative Investment Analyst (CAIA). Mr. Woodard is a former NCAA Division 1A springboard diver, Classic America’s Cup yacht racing sailor, and international adventurer. Mr. Woodard lives in Westport, CT and enjoys spending time with his girlfriend Loren and their dog, Pal.
Managing Partner: Robert Jaffee
Strategy Focus: Hedge Funds
Geographic Coverage: United States
Robert Jaffee | Managing Partner
Robert Jaffee is the founder and Managing Partner of Erwin Road. P.A. Mr. Jaffee focuses his efforts on capital raising activities for alternative investment managers with niche and non-correlated strategies.
Prior to forming Erwin Road, Mr. Jaffee was a founding U.S. partner for Redburn, Europe’s largest independent equity research broker. While at Redburn, Mr. Jaffee provided sales coverage to long-only and hedge fund clients in fundamental equity research, and systematic and technical analysis. Prior to Redburn, Mr. Jaffee was a Director for the Global Hedge Fund Sales division within Merrill Lynch in New York. Mr. Jaffee also served as a Director for the European Equity Research Sales division within Merrill Lynch where he spent time in London as well as New York and Boston. Earlier in his career,Mr. Jaffee also served as an Associate in the Fixed Income Derivative Sales division within Merrill Lynch in London, and he began his career as a Futures & Options Sales Trader for Merrill Lynch in Chicago.
Mr. Jaffee graduated from the University of Texas at Austin with a BA in English. Mr. Jaffee earned his MBA with a concentration in Finance from the University Of Chicago Booth School Of Business. Mr. Jaffee currently holds the Series 7 and 63 registrations with FINRA.
Founding Partner: Robert McSween
Strategy Focus: Real Estate, Private Equity
Geographic Coverage: North America
Robert McSween | Founding Partner
Robert McSween is a founding Partner of McSween Advisors LLC. Mr. McSween works primarily in sourcing and executing compelling real estate investment opportunities.
Prior to the formation of McSween Advisors, Mr. McSween was a founding partner of Artis Advisors, LLC. Prior to Artis Advisors, LLC, Mr. McSween was Managing Partner of MMI Advisors, LLC, a predecessor company to Artis Advisors. From 2007 through 2008, Mr. McSween was a Managing Director at Strategic Value Partners, LLC, a hedge fund based in Greenwich, Connecticut, where he oversaw real estate investment in Asia, with a primary focus in Japan and India.
From 1993-2006, Mr. McSween was Senior Managing Director at ING Group in New York. At ING he formed and served as Managing Partner for ING Realty Partners, L.P. and ING Realty Partners II, L.P., which made aggregate property investments of more than $2.5 billion from 1997-2005. Mr. McSween also directed acquisitions and asset management for ING’s proprietary account of more than $1.4 billion in sub-performing and non-performing loans acquired from the Resolution Trust Corporation and other financial institutions.
Prior to ING, Mr. McSween was a Managing Director at Citicorp, where he directed an investment banking team that executed more than $6 billion in loan syndications. He also formed Citicorp’s Commercial Securitization Group, which facilitated the distribution of performing and restructured sub-performing loans in rated, privately placed structures.
Mr. McSween received his secondary school education at Groton School and earned his BA and MBA from Tulane University. He is a member of the Association of Foreign Investors in Real Estate (AFIRE) and served as its Chairman in 2003. Mr. McSween currently holds the Series 7, 24 and 63 registrations with FINRA.
Chairman: Earl Yen
Strategy Focus: Hedge Funds, Private Equity
Geographic Coverage: United States, China
Earl Yen | Chairman
Earl Yen is chairman of Red Cedar Capital Ltd., with a presence in Boston and Shanghai. Mr. Yen has nearly 30 years of experience in the investment industry, including over 20 years living and working in Asia. At Red Cedar, he works primarily with Asia-based alternative investment managers in formulating and executing their US fundraising strategies and investor outreach.
Prior to starting Red Cedar, Mr. Yen was the founding chairman and chief investment officer of CSV Capital Partners, a Greater China-focused alternative investment firm pursuing both private and public equity strategies, based in Shanghai. CSV’s long/short equity fund was recognized by HFMWeek in 2013 and 2014, respectively, as “Best Greater China Fund” and “Best Greater China Long/Short Equity Fund”.
Mr. Yen previously spent nine years as an investment banker with Bear Stearns and Citigroup, helping Asia-based companies in their global capital raising transactions and advising multinational companies on Asia-Pacific cross-border M&A transactions. He worked on a number of landmark China transactions including the IPOs of China Mobile, China Telecom, China Life Insurance, Yanzhou Coal Mining, and Guangshen Railway. Mr. Yen started his career with Bear Stearns and HarbourVest in Boston.
Mr. Yen earned an MBA from MIT’s Sloan School of Management and bachelor’s degrees in electrical engineering and management science from MIT. Mr. Yen currently holds the Series 7 and 63 registrations with FINRA.
Managing Partner: Jason Sander
Strategy Focus: Real Estate, Private Equity
Geographic Coverage: United States, Europe
Jason Sander | Founding Principal
Prior to launching SandCap, LLC, Mr. Sander was a Managing Director of New Business Development for MHP Real Estate Capital, LLC where he was responsible for raising capital for MHP investment opportunities. Prior to MHP, Mr. Sander worked on capital and deal sourcing assignments for several of the largest New York City based real estate private equity companies and real estate families. Mr. Sander was previously VP, Capital Raising for Thor Equities, where he sourced the single largest equity capital commitment in Thor’s history, and worked on sourcing all of Thor’s direct deal equity capital in the U.S., Europe and Mexico.
Prior to Thor Equities, Mr. Sander was a Principal at Mercury Capital Advisors, the former Merrill Lynch Private Funds Group. Mr. Sander also worked for John A. Catsimatidis (Forbes 400), Chairman of the Red Apple Group and United Refining, where he was in charge of deal sourcing for URX.
Mr. Sander began his real estate career as VP, Emigrant Bank, the largest privately owned bank in the U.S., owned by The Milstein Family (Forbes 400). Mr. Sander was the top producing real estate underwriter during his 4 years at Emigrant Bank. Prior to Emigrant Bank, Mr. Sander worked for Merrill Lynch within their International Emerging Markets Group and within the Bear Stearns Global High Yield Group.
Mr. Sander earned a Master’s Degree in Public Policy from Columbia University’s School of International and Public Affairs (SIPA). Additionally, Mr. Sander completed his advanced real estate studies at Columbia Business School, where he remains active in the alumni community. Mr. Sander also holds a B.A. in Political Science from Tufts University where he received the John S. Gibson International Relations Award. Currently, Mr. Sander holds the Series 7 & 63 registrations with FINRA.
CEO & Founder: Bill Weston
Strategy Focus: Private Equity, Hedge Funds
Geographic Coverage: United States, Canada
Bill Weston | CEO & Founder
Bill Weston is the CEO & Founder of Sláine Capital Advisors LLC. Mr. Weston focuses his efforts on capital raising activities for alternative investment managers with niche and non-correlated strategies.
Prior to forming Sláine Capital Advisors LLC, Mr. Weston was a Vice President with Key Private Bank where he was responsible for new business development while providing advisory services to high net worth families and institutional clients. Prior to Key Private Bank, Mr. Weston was a Vice President with J.P. Morgan Private Bank where he led a team focused on business development and providing comprehensive investment management advisory services to family offices, foundations and endowments, and institutional clients. While at J.P. Morgan Private Bank, Mr. Weston raised capital for select top-tier private equity, venture capital, and multi-strategy hedge funds. Prior to J.P. Morgan Private Bank, Mr. Weston served as an equity trader for KeyBanc Capital Markets where he managed all aspects of equity trading coverage for his institutional clients.
Mr. Weston graduated from Hiram College with a B.A.in Political Science. Mr. Weston earned his Master’s Degree with a concentration in International Business from the University College Dublin in Dublin, Ireland. Mr. Weston earned the Certified Wealth Strategist (CWS) designation, and he currently holds the Series 7 and 66 registrations with FINRA. Mr. Weston is also an Ironman Athlete and avid cyclist and triathlete. Mr. Weston lives with his wife and son in Cleveland, Ohio.
Managing Partner: Charles Schwartz III
Strategy Focus: Direct Transactions
Geographic Coverage: United States; Europe; Asia
Charles Schwartz III | Founder & Managing Partner
Mr. Schwartz is the founder and Managing Partner of Titanium Capital Group. Mr. Schwartz has developed and executed a variety of unique solutions and structured transactions throughout his 30-year career in derivatives, structured products, and alternative investments.
He started his career in 1985 at Bankers Trust, where he originated foreign currency structured products for the Market Transactions Group. From 1987-1993, he managed the marketing efforts of one of the financial affiliates of AIG. From 1993-1995, he managed the derivatives marketing business at Goldman Sachs for all capital markets clients. From 1996-1998, Mr. Schwartz worked at Union Bank of Switzerland (UBS) to manage the Global Strategic Financial Products Group, a cross-product group dedicated to solving client solutions. He re-joined AIG in 1999 to build and manage the structured products business at its hedge fund affiliate, AIG Trading Group, for 4 years until he started Titanium Capital in 2003.
Mr. Schwartz received his BA summa cum laude from Tufts University in 1981, an MA in International Affairs from Johns Hopkins University in 1984, and an MBA from The Wharton School, University of Pennsylvania in 1985. Mr. Schwartz currently holds the Series 3, 7, 63 and 79 registrations with FINRA.
Managing Partner: Rana Prasad, CAIA
Strategy Focus: Real Estate, Hedge Funds, Private Equity
Geographic Coverage: United States; Europe
Rana Prasad | Founder & President
Rana Prasad is Founder and President of Torrey Capital Group, LLC. Mr. Prasad leads Torrey Capital Group’s capital raising efforts on behalf of distinctive managers specializing in real estate and private equity funds. Prior to launching Torrey Capital Group, Mr. Prasad was an executive at Equastone, a private equity real estate firm, where he focused on building the firm’s relationships with RIAs, family offices, high net worth individuals, and the institutional investment community. Mr. Prasad previously spent years on Wall Street trading equities and also marketing sophisticated, hedged investments and arbitrage strategies to institutional investors. Mr. Prasad has raised approximately $800 million in assets during his career.
Prior to working in the financial services industry, Mr. Prasad played a key executive/sales role in an internet start-up company and also worked for Ernst & Young as a management consultant.
Mr. Prasad earned a B.S. in Systems Engineering from the University of Pennsylvania with a concentration in Finance and Management. Mr. Prasad is a CAIA charterholder, and is a member of the Chartered Alternative Investment Analyst Association. Mr. Prasad serves as a frequent public speaker on the topic of real estate and alternative investments. Currently, Mr. Prasad holds the Series 7, 24, 55, 63, and 79 registrations with FINRA.
Frequently Asked Questions
What is an Affiliate Partner?
An Affiliate Partner is an independently branded capital raising business, strategically partnered with Stonehaven through an independent contractor agreement to receive a wide range of services and support. Affiliate Partners may originate and sell their own products and may also opt in to cross sell into the Firm’s originated product offerings as well as the overall platform’s diverse portfolio of product offerings.
What are the advantages of raising capital on a third party basis over working in-house at an asset management organization?
Functioning on a third party basis enables capital raisers to run an independent business, establish a distinct voice in the marketplace, represent a diversified portfolio of opportunities, identify new opportunities to shift with the marketplace, and establish clearly defined economics for placed capital. These factors facilitate strong relationships with both managers and investors.
Why join a broker dealer as opposed to starting a new broker dealer?
Running a broker dealer compliantly, efficiently and profitably requires significant resources and extensive experience. In addition, the ever-evolving regulatory environment increases the level of complexity that needs to be intelligently managed for even the most seasoned professionals. Beyond all of the strategic benefits of the platform, Stonehaven’s compliance infrastructure enables Affiliate Partners to save time and money on legal resources, avoid hiring additional or ineffective compliance personnel, bypass the need to complete annual audits, leverage the Firm’s strong experience interfacing with regulators, and utilize the Firm’s integrated systems and procedures which are tested and continually evaluated for improvement.
What are the potential advantages of joining Stonehaven’s Affiliate Platform over a non-strategic broker dealer relationship?
Stonehaven’s architecture has been specifically designed for the alternative capital raising industry and is then custom-tailored to each Affiliate Partner group. Affiliate Partners can sell (i) directly sourced mandates as well as (ii) generate additional revenues by cross-selling opportunities across the platform, which represents a significant source of Stonehaven’s activity since inception. Affiliate Partners leverage the industry expertise of Stonehaven’s team to help guide their business models knowing that the Firm is aligned with their success.
How are Affiliate Partners branded in the marketplace?
Affiliate Partners each run their own independently branded businesses which allows them to build differentiated identities in the marketplace, each with a different approach toward product mix and target investor audience. Maintaining different brands allow Affiliate Partners to interface with overlapping investors while keeping distinct direct relationships.
What are some of the regulatory requirements to operating as an Affiliate Partner?
Affiliate Partners must be registered representatives of Stonehaven’s broker dealer with requisite licenses based on the type of activity and level of supervision. All contracts are run through the broker dealer and are subject to approval after legal and due diligence review. Sales activity and transaction closings must be conducted according to defined protocols, tracked and overseen by Stonehaven. All revenues are processed through the broker dealer and paid directly to registered representatives. Continuing education requirements must be met. All outside business activity must be approved and monitored by Stonehaven (note that Stonehaven does not consider any financial activity to be outside business activity). Please note that regulatory requirements can be complex based on the scenario. The aforementioned items are not a complete universe. For more comprehensive information, please contact us directly.
What is the approval process for opportunities sourced by an Affiliate Partner?
Stonehaven conducts comprehensive upfront and ongoing due diligence on all managers on the platform. The Firm consistently strives to be efficient without compromising thoroughness or process. Managers must meet high institutional standards and have a strong reputation in the marketplace.
What role does Stonehaven play in helping structure and negotiate referral agreements with managers sourced by Affiliate Partners?
Stonehaven plays an integral role in assisting Affiliate Partners with structuring and negotiating referral agreements with managers, leveraging extensive experience navigating the negotiation process over scores of agreements. Stonehaven has worked intensively with external counsel to ensure that foundational language in our library of template agreements is comprehensive and fair. Affiliate Partners retain ownership of decision making on final business and economic terms, and Stonehaven ensures that all compliance and other terms are addressed accordingly. This results in a significant reduction in legal expenses for our Affiliate Partners and demonstrates an institutional approach to each prospective external manager.
What payout does an Affiliate Partner receive for producing revenue?
Stonehaven embraces a fair and equitable approach to economics with our Affiliate Partners which are effectively categorized into one of three distinct silos. Payout percentages directly correlate with the amount of value added by the participants in each scenario:
- An Affiliate Partner selling a mandate that they have sourced commands the highest payout percentage.
- An Affiliate Partner selling a mandate sourced by Stonehaven provides a compelling payout by industry standards.
- Two Affiliate Partners cross-market a product where Stonehaven has a fixed percentage and the Affiliate Partners have the flexibility to negotiate their respective economics.
Stonehaven requires a minimum baseline level of revenue for supporting the activity of each Affiliate Partner.
What are the costs associated with operating as an Affiliate Partner?
Affiliate Partners reimburse Stonehaven for costs of regulatory registrations and outside service providers specific to their activity. Typically this is a relatively de minimis amount for items such as state registrations and IT support. Stonehaven has a robust legal template library and helps Affiliate Partners make adjustments to contracts, but occasionally complex legal situations necessitate use of outside legal counsel. Stonehaven provides a baseline level of accounting support as part of being on the platform, and Affiliate Partners can opt into premium accounting services for more robust support and analysis.
How much working capital does an Affiliate Partner need to start a new capital raising venture?
While prospective Affiliate Partners with recurring revenue streams are an ideal fit, Stonehaven knows from experience that some of the best Affiliate Partners start off as new ventures. Prospective Affiliate Partners launching their business should have ample working capital available to build a pipeline, close placements, generate revenue, and allow managers time to make payments after closing their books. For newly launching businesses, Stonehaven believes it is prudent to conservatively assume that it takes approximately a year to start producing material revenues and possibly longer to achieve profitability depending on a variety of factors. The day-to-day cost of running a capital raising business can be variable depending on the approach, but living costs must always be factored in as well. While ramping up can be difficult, the long-term economics of the business can be quite rewarding.
How long does it take to transition an Affiliate Partner onto Stonehaven's platform?
While each on-boarding transition is unique, Stonehaven aims to run a highly systematic process taking between two and six weeks contingent on the head count, number of mandates to onboard, existing registrations in place with FINRA, IT specifications, locales, and other factors related to each prospective Affiliate Partner. Stonehaven takes pride in approaching each transition with comprehensively mapped out timelines, correlating checklists, and delegated task ownership prioritized across the spectrum of items to be addressed from start to finish. Effective management of expectations is critical for all parties, and Stonehaven’s comprehensive on-boarding execution ability facilitates transitions to minimize the impact on revenue generating activities.