Fig LLC (New York)

Name: Fig LLC
Address: 1345 Avenue Of The Americas, New York, NY, 10105
Telephone: 212-798-6100

Fig LLC is a large advisory firm based in New York. It manages $87.74 billion of regulatory assets for 277 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of California and New York.

Fig provides portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and consulting services, asset management, and management of collateralized securitizations. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Fig: assets under management

The assets under management (AUM) of Fig LLC is $87.74 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 150% since the beginning of its operation, and $32 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $87.74 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $316.76 million each.

Fig has custody of $87.74 billion in cash and securities for 277 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 66% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 25% of the firm’s portfolio. Investments in government bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Fig LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Fig serves?

The firm provides services to pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Fig is pooled investment vehicles with 271 clients and $51.5 billion of assets under management. Among the 8 most similar advisory firms, Fig has the 4th lowest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $87.74 billion for 277 clients. 64% of the firm’s clients are foreign persons or businesses.

Fig also advises several private funds. Namely, two hundred twenty two hedge funds, eight private equity funds, and twenty four securitized asset funds. The minimum investment commitment required of non-related persons ranges from $0 to $20,000,000.

Careers at Fig LLC

The company employs 906 people that are either part- or full-time employees. 24 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Wesley Robert Edens	Director, chairman of management committee	1 Feb 1998	Other	1320094
Randal Alan Nardone	Director, member of management committee	1 Feb 1998	Other	2694339
Robert Ian Kauffman	Director, member of management committee	1 Feb 1998	Other	1583166
Michael Edward Novogratz	Director, member of management committee	1 Jun 2002	Other	1942885
Peter Lionel Briger	Director, member of management committee	1 Jun 2002	Other	1867239
Daniel Neal Bass	Chief financial officer	1 Dec 2003	Other	4747757
Michael Joshua Cohn	Chief compliance officer	1 Mar 2005	Other	4938950
Fortress Operating Entity I L.P.	Sole managing member	1 Jan 2007	75% - 100%	13-3989887
David Nichols Brooks	Chief legal officer, secretary	1 Feb 2007	Other	5314938
Wesley Robert Edens	Principal and director	1 Aug 2009	Other	1320094
Michael Edward Novogratz	Principal and director	1 Aug 2009	Other	1942885
Peter Lionel Briger	Principal and director	1 Aug 2009	Other	1867239
David Nichols Brooks	Vice president, general counsel & secretary	1 Aug 2009	Other	5314938
Randal Alan Nardone	Principal and director	1 Aug 2009	Other	2694339
Robert Ian Kauffman	Principal and director	1 Aug 2009	Other	1583166
Daniel Harrison Mudd	Ceo & director	1 Aug 2009	Other	5771730
Randal Alan Nardone	Chief executive officer, principal and director	1 Dec 2011	Other	2694339

Indirect Owners

The SEC currently registers 11 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Fig Corp.	General partner	1 Jan 2007	Other	20-8211534
Fortress Investment Group Llc	Sole shareholder	1 Jan 2007	Other	20-5837959
Finco I Intermediate Holdco Llc	Sole member	1 Dec 2017	75% - 100%	82-2032556
Finco I Llc	Sole member	1 Dec 2017	75% - 100%	82-1589140
Llc Fig Parent	Sole member	1 Dec 2017	75% - 100%	82-2018056
Foundation Holdco Lp	Sole member	1 Dec 2017	75% - 100%	foreign entity
Sb Foundation Holdings Lp	Sole limited partner	1 Dec 2017	75% - 100%	foreign entity
Foundation Holdings Lp	Sole limited partner	1 Dec 2017	75% - 100%	foreign entity
Softbank Group Corp.	Sole limited partner	1 Dec 2017	75% - 100%	foreign entity
Sb Foundation Holdings (Gp) Llc	General partner	1 Dec 2017	Other	foreign entity
Foundation (Gp) Holdings Llc	Sole member	1 Dec 2017	75% - 100%	foreign entity

Based in New York

The principal office where Fig LLC performs its advisory services is located at 1345 Avenue Of The Americas, New York, NY 10105, which is also the mailing address of the firm. An additional office of the firm is in Miami, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-798-6100 or by fax 917-591-8633. The normal business hours are 8am - 6pm on Monday - Friday. You can find more information about the New York firm at fortress.com.