Argent Private Equity & Real Estate
By Argent Wealth Management, LLC on November 2, 2023
Introduction
- Argent clients have direct access to PE and PRE limited partnerships.
- Private Equity (PE) and Private Real Estate (PRE) may help improve returns and lower risk when used in conjunction with traditional stock and bond portfolios.
- Argent has been investing in PE and PRE since 2007.
Philosophy
- Trust in the General Partners is paramount.
- Understand the process, performance, people, and price.
- General Partners should invest meaningfully in their own strategy.
- The General Partners should be skilled, and the strategy should be differentiated.
- Argent prefers small funds in niche markets.
Process
- Argent conducts investment due diligenceand Mercer conducts operational due diligence to ensure General Partners follow best practices.
- Determine the ideal percentage of PE and PRE based on client circumstances.
- From there, build a self-funding ladder diversified by firm, vintage year and type of deal.
- Type of deal:
- Private Equity
- Direct, Co-Investments, Secondaries
- Diversified across industries and sectors
- Private Real Estate
- Residential, Industrial, Office, Infrastructure, Hospitality
- Diversified across geography
- Private Equity
Privates vs. Publics Performance
Private companies continue to outperform public indices, but manager selection is critical
1- Balanced, buyout, direct secondaries, growth, private equity fund of funds, private equity secondaries, turnaround, venture capital.
2- Direct lending, distressed debt, mezzanine, private debt fund of funds, special situations, venture debt
Returns may reflect direct investments. Feeder Funds typically have additional associated costs and fees
Portfolio Diversification
Private Markets and portfolio risk/return
Annualized volatility and returns, 1989 – 1Q23
Managers
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Argent Wealth Management, LLC is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC (member FINRA and SIPC). Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC.
This is not an offer to buy or sell securities, nor should anything contained herein be construed as a recommendation or advice of any kind. Consult with an appropriately credentialed professional before making any financial, investment, tax or legal decision. No investment process is free of risk, and there is no guarantee that any investment process or investment opportunities will be profitable or suitable for all investors. Past performance is neither indicative nor a guarantee of future results. You cannot invest directly in an index.
These materials were created for informational purposes only; the opinions and positions stated are those of the author(s) and are not necessarily the official opinion or position of Hightower Advisors, LLC or its affiliates (“Hightower”). Any examples used are for illustrative purposes only and based on generic assumptions. All data or other information referenced is from sources believed to be reliable but not independently verified. Information provided is as of the date referenced and is subject to change without notice. Hightower assumes no liability for any action made or taken in reliance on or relating in any way to this information. Hightower makes no representations or warranties, express or implied, as to the accuracy or completeness of the information, for statements or errors or omissions, or results obtained from the use of this information. References to any person, organization, or the inclusion of external hyperlinks does not constitute endorsement (or guarantee of accuracy or safety) by Hightower of any such person, organization or linked website or the information, products or services contained therein.
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