Commonwealth Asset Management Holdings LLC (“CWAM”) is a Los Angeles based asset management platform founded in June 2019 and led by Adam Fisher.
Adam was previously the Head of Global Macro and Real Estate at Soros Fund Management LLC (“Soros”) and the founder and CIO of Commonwealth Opportunity Capital GP LLC (“CWOC”). CWAM currently has 20 team members and manages approximately $900mm in Assets Under Management.
CWAM focuses its investment activities within 3 main categories:
Over time, we have found these strategies to be complementary to one another and reflective of Commonwealth’s top-down macro-economic view, carefully developed investment philosophy and contiguity to technological innovation.
The CWAM team's extensive and varied experiences provide the foundation for the firm's capabilities.
Prior to establishing CWAM, the founders and many key investment professionals worked together as the core macro and real estate groups at Soros and CWOC. Collectively, the team has a dynamic and differentiated approach to alpha generation, focusing on value opportunities, progressive economic trends and deal sourcing.
CWOC was also founded and led by CIO Adam Fisher and offered two comingled hedge funds and multiple co-investment opportunities in both the liquid and illiquid space over its 9-year history.
Leveraging our history and pedigree of alpha generation, we apply a philosophy of continued growth and learning to employ a consistent, disciplined and pattern-driven process that builds upon the team’s analytical abilities and network of relationships to focus on long term opportunities.
Meaningful, enduring and productive relationships are paramount to CWAM and we are committed to developing a genuine, multi-dimensional partnership with our investors.
Brevan Howard has been a trusted partner to Commonwealth since 2011 and is a strategic advisor to and minority owner of the CWAM platform.
In 2008 CWOC was launched to capture opportunities in the macro landscape. 13 years later, our macro-economic views continue to influence idea generation and portfolio construction across the CWAM Platform.
CWAM’s Global Macro business aims to apply thoughtfully cultivated principles across multiple asset classes worldwide. With a goal of being dynamic and flexible, we offer co-mingled investment opportunities as well as bespoke and custom vehicles.
The Real Estate business at Commonwealth (“CWRE”) targets opportunistic returns through large-scale platform and entity-level real estate transactions in the “GP” or “Operating Partner” position in sectors with strong secular tailwinds and idiosyncratic inefficiencies that can be harnessed through creative, long-term investment strategies.
CWRE’s approach to real estate investment is grounded in our top-down macroeconomic view. As a firm, we believe we are uniquely situated to leverage our macro research and tenured macro investment track record to inform our real estate investment decision-making.
Our investment approach is guided by 7 key principles:
At our core we are opportunistic investors without bias towards asset classes, industries or geographies.
We consider an intentionally broad and non-traditional cross section of investments, including:
- Operationally intensive asset classes.
- Asset classes that are experiencing a fundamental shift in demand.
- Highly fragmented sectors.
- Idiosyncratic opportunities with informational opacity.
- Asset classes with deeply-entrenched incumbents that have become complacent.
We orient our real estate investment process around the top-down views formed in our global macro business
CWRE’s research process begins by establishing a view on interest rates given the myriad of ways in which they impact the sector.
With that understanding we form a view of where we sit in the cycle, which informs the ratio of alpha and beta we seek in the portfolio.
The entire process is underpinned by the team’s extensive industry experience.
CWRE reviews a diverse array of investment opportunities across verticals.
Our current portfolio comprises investments in the Data Center, Soundstage, Logistics and Communications Infrastructure sectors.
Commonwealth is uniquely positioned with exposure to institutional global financial markets and industry-leading technological innovators.
CWAM’s Opportunistic Growth business aims to capture investment opportunities at the crossroads of macro and tech and is built upon the principle that technology and innovation will influence the future of the global economy. Commonwealth is active within the Digital Assets and Education Technology sectors.