Select Equity Group, L.P. (New York)

Name: Select Equity Group, L.P.
Address: 380 Lafayette Street, New York, NY, 10003
Telephone: (212) 475-8335

Select Equity Group, L.P. is a large advisory firm based in New York. It manages $23.41 billion of regulatory assets for 1,060 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Alabama, Arizona, California, and 34 other states.

Select Equity Group provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Select Equity Group: assets under management

The assets under management (AUM) of Select Equity Group, L.P. is $23.41 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 127% since the beginning of its operation, and $9.44 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $23.41 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $22.09 million each.

Select Equity Group has custody of $67.83 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 96% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio. Investments in derivatives form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Select Equity Group, L.P. for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Select Equity Group serves?

The firm provides services to individuals, investment companies, charitable organizations, other investment advisers, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Select Equity Group is pooled investment vehicles with 29 clients and $15.39 billion of assets under management. Among the 9 most similar advisory firms, Select Equity Group has the 4th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $22.89 billion for 1,055 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Select Equity Group also advises several private funds. Namely, nineteen hedge funds, one other private fund, and three private equity funds. The minimum investment commitment required of non-related persons ranges from $0 to $5,000,000.

Careers at Select Equity Group, L.P.

The company employs 138 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate 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
George Stabler Loening	Chairman and treasurer	1 Jan 1990	Other	2704094
John Delaplaine Britton	Portfolio manager	1 Apr 1998	Other	2519144
Darren Seirer	Portfolio manager	1 Oct 1998	Other	4910659
Jennifer Vinsonhaler	Chief compliance officer	1 Oct 2010	Other	5510077
David Conover	Chief financial officer	1 Oct 2010	Other	5774701
James Robert Berman	Chief operating officer	1 Mar 2013	Other	4910669
Edward Paul Liang	Chief legal officer	1 Jul 2013	Other	5701044
Seg Legacy S Corp.	Limited partner	1 Nov 2013	25% - 50%	90-1011716
L.P. Select Equity Partners	Limited partner	1 Nov 2013	50% - 75%	80-0946848
Llc Select Equity Gp	General partner	1 Nov 2013	Other	90-1011748
James Robert Berman	Executive vice president	1 Jan 2017	Other	4910669

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
George Stabler Loening	Limited partner	1 Nov 2013	50% - 75%	2704094

Based in New York

The principal office where Select Equity Group, L.P. performs its advisory services is located at 380 Lafayette Street, New York, NY 10003, which is also the mailing address of the firm. An additional office of the firm is in Chicago, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (212) 475-8335 or by fax (212) 475-1786. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at selectequity.com.