Locust Wood Capital Advisers, LLC (New York)


Locust Wood Capital Advisers, LLC is a large advisory firm based in New York. It manages $1.35 billion of regulatory assets for 13 client accounts. It has been registered with the SEC as an adviser since 2005.

Locust Wood Capital Advisers provides 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.

Locust Wood Capital Advisers: assets under management

The assets under management (AUM) of Locust Wood Capital Advisers, LLC is $1.35 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 801% since the beginning of its operation, and $40 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.35 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $103.97 million each.
Locust Wood Capital Advisers has custody of $1.35 billion in cash and securities for 13 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 99% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 1% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Locust Wood Capital Advisers, LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Locust Wood Capital Advisers serves?

The firm provides services to insurance companies, investment companies, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of Locust Wood Capital Advisers is pooled investment vehicles with 5 clients and $915.3 million of assets under management. Among the 7 most similar advisory firms, Locust Wood Capital Advisers has the 3rd lowest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $1.35 billion for 13 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 23% of the firm’s clients are foreign persons or businesses.

Locust Wood Capital Advisers also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Locust Wood Capital Advisers, LLC

The company employs 11 people that are either part- or full-time employees. 45 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.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Stephen John Errico Chief investment officer of registrant 1 Jun 2002 Other 1144825
Robert Louis Errico Chief compliance officer 1 Apr 2005 Other 202119
Paul Martin Morris Chief operating officer/chief compliance officer 1 Jan 2007 Other 2294823
The Sje 2012 Family Trust Member of locust wood capital management llc 1 Dec 2012 25% - 50% xxx-xx-xxxx
Stephen John Errico Trustee of the sje 2012 family trust, member of locust wood capital management llc 1 Dec 2012 75% - 100% 1144825
Robert Louis Errico Trustee of the sje 2012 family trust, member of locust wood capital management llc 1 Dec 2012 25% - 50% 202119
The Stephen J. Errico Trust Dtd 7/1/2004 Fbo John Michael Errico Member of locust wood select gp, llc 1 Dec 2012 Other 52-7330546
The Stephen J. Errico Trust Dtd 7/1/2004 Fbo Emily Elizabeth Errico Member of locust wood select gp, llc 1 Dec 2012 Other 52-7330536
The Stephen J. Errico Trust Dtd 7/1/2004 Fbo Caroline Marie Errico Member of locust wood select gp, llc 1 Dec 2012 Other 52-7330544
The Stephen J. Errico Trust Dtd 7/1/2004 Fbo Robert Peter Errico Member of locust wood select gp, llc 1 Dec 2012 Other 52-7330537
Lwca Partners Lp Managing member of registrant 1 Mar 2015 75% - 100% 47-3417025
The Robert Peter Errico 2015 Trust Dtd 6/4/2015 Member of locust wood select gp, llc 1 Jun 2015 Other 99-9999999
The Caroline Marie Errico 2015 Trust Dtd 6/4/2015 Member of locust wood select gp, llc 1 Jun 2015 Other 99-9999999
The Emily Elizabeth Errico 2015 Trust Dtd 6/4/2015 Member of locust wood select gp, llc 1 Jun 2015 Other 99-9999999
The John Michael Errico 2015 Trust Dtd 6/4/2015 Member of locust wood select gp, llc 1 Jun 2015 Other 99-9999999
Robert Louis Errico Trustee of the robert peter errico 2015 trust dtd 6/4/2015, member of locust wood select gp, llc 1 Jun 2015 50% - 75% 202119

Indirect Owners

The SEC currently registers 3 indirect owners.

Name Entity Date acquired Ownership Employer ID
Stephen John Errico Limited partner 1 Feb 2015 75% - 100% 1144825
Lwca Partners Gp Llc General partner 1 Mar 2015 Other 47-3410610
Stephen John Errico Managing and sole member 1 Mar 2015 75% - 100% 1144825

Based in New York

The principal office where Locust Wood Capital Advisers, LLC performs its advisory services is located at 1540 Broadway, New York, NY 10036 4039, 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 212-354-5404 or by fax 212-354-5436. The normal business hours are 8:30am - 6pm on Monday - Friday. You can find more information about the New York firm at locustwood.com.

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