Modern Capital
Modern Capital is a private investment management firm founded in 2019 that operates the actively managed Modern Capital Tactical Income Fund, investing primarily in closed-end funds for differentiated income. The firm serves financial advisors, family offices, and institutional investors through major US custodial platforms and a sales-led distribution model.
- Company typePrivate
- Founded2019
- HeadquartersCharleston, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Modern Capital does
Modern Capital is a privately held investment management firm founded in 2019 by CEO Brad Atkins, headquartered in Charleston, SC, with an additional office in Raleigh, NC. The firm specializes in actively managed tactical income strategies, with its core product being the Modern Capital Tactical Income Fund (MCTOX/MCTDX), an open-end mutual fund that invests primarily in closed-end funds (CEFs) complemented by allocations to common stock, fixed income, and ADRs. Modern Capital employs a proprietary daily portfolio monitoring and tactical allocation process across 500+ income-oriented vehicles, with the investment team focused on identifying dislocations between market price and net asset value. The firm serves three primary customer segments: financial advisors (mid-market), family offices including international offices, and institutional investors, with distribution through major custodial platforms including Schwab, Fidelity, Pershing, RBC, and the SMArtX UMA platform.
The business model is asset-gathering-driven: revenue comes from management fees on assets under management, with the Tactical Income Fund carrying a 4.10% gross expense ratio reduced to a 0.90% net expense ratio after contractual adviser fee waivers through April 30, 2026. Class A shares carry a 5% front-end sales charge with a $1,000 minimum initial investment. Total disclosed fund AUM is approximately $70.5 million across the two share classes as of mid-2026, representing a relatively small base for a firm founded seven years prior. The firm also plans to launch the Modern Capital Private Credit Fund I (MCPC I) to expand beyond public mutual fund structures.
The investment team is led by CIO Richard de Wet, who joined in March 2026 from Guggenheim Partners where he managed over $10 billion in assets, with additional prior experience as a founding member of PIMCO's New York trading and portfolio management team. Other senior leaders include COO John Tabb (ex-venture-backed software CEO) and Greg Straka (Head of Distribution, ex-Ameriprise/MassMutual). The firm is SEC-registered across multiple entities (Modern Capital Securities Inc. as broker-dealer, Modern Capital Advisors LLC as investment adviser, and Modern Capital Management Co. with IARD #306631), and the Tactical Income Fund is registered under the Investment Company Act of 1940. Marketing is content-driven, centered on a blog of market commentary and CEF education, supplemented by webinars, quarterly manager calls, and earned media coverage of the fund's 2026 5-star Morningstar rating milestone.
Modern Capital firmographics
Firmographics- Name
- Modern Capital
- Legal name
- Modern Capital, LLC
- Website
- https://moderncap.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Modern Capital is a private investment management firm founded in 2019 that operates the actively managed Modern Capital Tactical Income Fund, investing primarily in closed-end funds for differentiated income. The firm serves financial advisors, family offices, and institutional investors through major US custodial platforms and a sales-led distribution model.
- Ownership category
- akta.pro rank
Modern Capital industry classification
Industry- Product category
- Investment Management
- NAICS
- Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Multi-Strategy — Multi-Asset Tactical / Opportunistic Trading (FSAHAFAJ)
- akta.pro secondary industries
- Multi-Strategy — Single-Manager, Multi-PM (FSAHAFAB), Target-Risk / Risk-Managed Allocation Funds (FSAAAEAG)
Keywords
Where Modern Capital is headquartered
LocationHeadquarters
- HQ city
- Charleston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Modern Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Investment Management Fees: Modern Capital generates revenue through management fees charged on assets under management in its Tactical Income Fund (MCTOX/MCTDX). The fund charges Total Annual Fund Operating Expenses of 4.10% per prospectus, with a net expense ratio of 0.90% after contractual fee waiver through April 30, 2026. Additional fee components include a 0.25% shareholder servicing fee.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Class A shares with 5% sales charge and $1,000 minimum initial investment |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Modern Capital product offering
Product offeringCore offering
Modern Capital manages actively managed tactical income strategies through its flagship open-end mutual fund, the Modern Capital Tactical Income Fund (MCTOX/MCTDX). The core strategy invests primarily in Closed-End Funds (CEFs) complemented by allocations to common stock, fixed income, and ADRs, with daily portfolio monitoring and tactical allocation across multiple income sectors to generate monthly income distributions and risk-adjusted returns.
Product overview
Modern Capital offers a suite of actively managed tactical income strategies designed for financial advisors, institutions, and family offices. The core product is the Modern Capital Tactical Income Fund, available in two share classes (MCTOX and MCTDX), which uses a multi-asset income approach centered on Closed-End Funds complemented by stocks, fixed income, and ADRs. The fund seeks to generate monthly income while maintaining lower volatility than broader equity markets. The company also plans to launch a Private Credit Fund I (MCPC I) to expand its income-focused offerings. All strategies are accessible through major custodial platforms including Schwab, Fidelity, Pershing, RBC, and SMArtX.
Differentiator
Problem solved
Functional benefit
Products and services
- Modern Capital Tactical Income Fund (MCTOX) Actively managed open-end mutual fund focused on generating steady income and long-term growth through investments primarily in Closed-End Funds (CEFs), complemented by allocations to common stock, fixed income, and ADRs. Offers potential monthly income distributions and is designed to provide consistent income without relying on leverage. Available to financial advisors, institutional investors, and family offices.
- Modern Capital Tactical Income Fund (MCTDX) ADV share class version of the Modern Capital Tactical Income Fund with identical investment strategy and approach as MCTOX, featuring an inception date of June 23, 2021 and focusing on closed-end fund investments for tactical income generation. Designed for advisory and institutional channels.
Quantifiable outcome
- 5-star Morningstar rating for the 5-year period (ranked 3rd out of 202 funds in Tactical Allocation category)
- +3 more outcomes
Companies that use Modern Capital
Customer profileSegments3 records
Ideal customer profiles3 records
Modern Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Modern Capital partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- SMArtX Advisory SolutionscoreModern Capital Tactical Income Fund is now available on the SMArtX Advisory Solutions platform, one of the industry's leading UMA platforms. This partnership expands accessibility to financial advisors across the country, providing operational efficiency and investment flexibility for SMArtX users to allocate to the fund seamlessly through existing systems.
- SchwabcoreModern Capital fund strategies are accessible through Schwab's custodial platform, enabling advisors to implement the Tactical Income Fund within client portfolios held at Schwab.
- FidelitycoreModern Capital fund strategies are accessible through Fidelity's custodial platform, enabling advisors to implement the Tactical Income Fund within client portfolios held at Fidelity.
- PershingcoreModern Capital fund strategies are accessible through Pershing's custodial and advisor platform, enabling advisors to implement the Tactical Income Fund within client portfolios held at Pershing.
- RBCcoreModern Capital fund strategies are accessible through RBC's custodial platform, enabling advisors to implement the Tactical Income Fund within client portfolios held at RBC.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Modern Capital competitors and assessment
Company assessmentDirect peers
- Bulldog Investors: Activist investment manager specializing in CEF discounts, with multiple CEF-focused funds. Direct comparable in the CEF tactical/value space serving similar investor segments.
- RiverNorth Capital Management: Boutique investment manager specializing in closed-end fund strategies, tactical income, and CEF arbitrage, with multiple mutual funds and a listed CEF (RIV). Most directly comparable CEF-focused boutique peer to Modern Capital.
- Saba Capital Management: Activist CEF-focused investment manager running CEF arbitrage, income, and tactical strategies. Directly comparable as a specialized CEF practitioner serving similar income-oriented investor needs.
- Cohen & Steers: Specialist asset manager focused on income-generating real assets and CEFs, with institutional and intermediary distribution. Comparable CEF income orientation and advisor channel focus.
- Tortoise Capital Advisors: Income-focused manager specializing in closed-end funds, MLP, and energy infrastructure strategies. Comparable as a CEF-centric income manager serving financial advisors and institutional clients.
- Karpus Investment Management: Independent investment adviser with a long-standing specialty in closed-end fund portfolio management and CEF arbitrage. Direct comparable as a CEF-focused boutique manager.
- Eagle Point Credit Company: Externally managed CEF focused on CLO equity and credit income strategies. Comparable CEF product structure and income-oriented mandate targeting advisor distribution.
Broad incumbents
- Guggenheim Investments: Large multi-asset investment manager with credit, tactical, and CEF strategies. Highly relevant as the prior employer of Modern Capital's CIO and as a broad incumbent competing for the same advisor and institutional relationships.
- PIMCO: Global investment manager with extensive credit, multi-asset, and tactical income capabilities. Comparable as a broad incumbent where CIO de Wet built his early career and as a major competitor for institutional income mandates.
- First Trust Advisors: Large issuer of CEF-focused ETFs and funds (including the First Trust CEF Income Opportunities ETF), competing directly for tactical income allocations in advisor portfolios.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Modern Capital social profiles
Digital presenceModern Capital compliance and trust
Trust signalCompliance2 records
Modern Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Modern Capital leadership team
Management profileNumber of profiles
Profiles5 records
Modern Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Modern Capital M&A and investment
M&A and investmentM&A1 record
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Modern Capital
What does Modern Capital do?
Modern Capital manages actively managed tactical income strategies through its flagship open-end mutual fund, the Modern Capital Tactical Income Fund (MCTOX/MCTDX). The core strategy invests primarily in Closed-End Funds (CEFs) complemented by allocations to common stock, fixed income, and ADRs, with daily portfolio monitoring and tactical allocation across multiple income sectors to generate monthly income distributions and risk-adjusted returns.
Is Modern Capital a public or private company?
Modern Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Modern Capital founded?
Modern Capital was founded in 2019. It employs 51 to 100 people.
Where is Modern Capital based?
Modern Capital is headquartered in Charleston, United States, in the North America region.
How does Modern Capital make money?
One revenue line is on record: investment Management Fees.
Who are Modern Capital's main competitors?
Direct peers on record are Bulldog Investors, RiverNorth Capital Management, Saba Capital Management, Cohen & Steers, Tortoise Capital Advisors, Karpus Investment Management and Eagle Point Credit Company. Broad incumbents are Guggenheim Investments, PIMCO and First Trust Advisors.
Does Modern Capital have an API?
No public API is recorded for Modern Capital.
What industry is Modern Capital in?
Modern Capital's product category is Investment Management. Its primary akta.pro industry code is FSAHAFAJ, Multi-Strategy — Multi-Asset Tactical / Opportunistic Trading, with a secondary code of FSAHAFAB, Multi-Strategy — Single-Manager, Multi-PM. Its NAICS code is 523940 and its SIC code is 6282.