Palm Drive Capital LLC (New York)

Name: Palm Drive Capital LLC
Address: 54 West, 21 St St, Suite 807, New York, NY, 10010
Telephone: 347-349-1568

Palm Drive Capital LLC is a large advisory firm based in New York. It manages $172.89 million of regulatory assets for 16 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdiction of New York.

Palm Drive Capital provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Palm Drive Capital: assets under management

The assets under management (AUM) of Palm Drive Capital LLC is $172.89 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 0% since the beginning of its operation, and $90.58 million of the total AUM is attributable to clients outside of the United States.

The firm manages $172.89 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $10.81 million each.

Palm Drive Capital has custody of $146.4 million in cash and securities for 16 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Palm Drive Capital LLC for their services and products based on a percentage of assets under management, fixed fees, 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 Palm Drive Capital serves?

The only and largest group of clients of Palm Drive Capital is pooled investment vehicles with 16 clients and $172.89 million of assets under management. Among the 6 most similar advisory firms, Palm Drive Capital has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $172.89 million for 16 clients. 13% of the firm’s clients are foreign persons or businesses.

Palm Drive Capital also advises several private funds. Namely, sixteen venture capital funds. The minimum investment commitment required of non-related persons ranges from $1,000 to $500,000.

Careers at Palm Drive Capital LLC

The company employs 6 people that are either part- or full-time employees. 83 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 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.

Based in New York

The principal office where Palm Drive Capital LLC performs its advisory services is located at 54 West, 21 St St, Suite 807, New York, NY 10010, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 347-349-1568. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at palmdrive.vc and its LinkedIn profile.