Richmond Capital Management

What Richmond Capital Management does

Richmond Capital Management, Inc. is a Richmond, Virginia-based, SEC-registered investment adviser founded in 1987 (originally as Continental Advisors) that specializes in USD-denominated fixed income portfolio management. The firm is 100% employee-owned by 13 professionals averaging 23+ years of trading experience, and as of September 30, 2025 manages $6.5 billion in assets across 175+ separate accounts, three private commingled funds (over $1.7 billion combined), and additional closed-end fund and ETF strategies. Its investment process combines proprietary bottom-up credit research with ESG evaluation sourced from MSCI, and its product set spans short duration, core fixed income, core fixed plus, absolute return (including the RCM MBS Opportunity Fund focused on GNMA construction-related MBS), and customized mandates including LDI and TIPS strategies.

The firm serves institutional clients exclusively across US markets, including pension plans, endowments, foundations, insurance companies, non-profits, Taft-Hartley plans, corporations, trusts, estates, and high net-worth individuals, with a $2 million minimum for standard advisory accounts and $250,000 for closed-end fund strategies. Revenue is generated through quarterly asset-based advisory fees (negotiable, tiered by account size and eleemosynary status) supplemented by transaction fees, with both discretionary and non-discretionary account structures offered. The firm operates exclusively through direct institutional sales without third-party marketers or non-US offices, and has been a PRI signatory since April 2017.

Distribution is conducted through a direct relationship model supported by a dedicated client service team, with marketing limited to the firm website (richmondcap.com) and thought-leadership content such as quarterly market insights. Notable disclosed clients include the City of Miami, City of Wichita, City of St. Petersburg, St. Clair Hospital, Delta Dental, Bok Tower Gardens, the Papal Foundation, MCV Foundation, and the Delaware River and Bay Authority, illustrating a diversified municipal, healthcare, and foundation client base.

Name

Richmond Capital Management

Legal name

Richmond Capital Management, Inc.

Website

https://richmondcap.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

51–100 employees

Short description

Richmond Capital Management is a 100% employee-owned, SEC-registered fixed income investment adviser founded in 1987 and headquartered in Richmond, Virginia. It manages $6.5 billion across separately managed accounts and commingled funds for US institutional clients including pensions, municipalities, healthcare systems, and foundations.

Ownership category

akta.pro rank

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Asset-based advisory fees: The firm charges ongoing asset-based fees deducted quarterly at the end of each quarter for investment advisory services. Fees are based on the value of cash and investments in the advisory account. Fees are negotiable and vary depending on services received and account size. Clients may pay different fee schedules based on portfolio size, eleemosynary status, or other factors.
2. Transaction fees: Clients may pay transaction fees when the firm buys or sells investments on their behalf, in addition to custody fees charged by broker-dealers or banks holding client assets.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Richmond Capital Management provides discretionary and non-discretionary fixed income investment advisory services across USD-denominated corporate bonds, agency MBS, CMBS, and ABS, delivered via separately managed accounts and private commingled funds. The firm manages over $6.5 billion across Short Duration, Core Fixed Income, Core Fixed Plus, RCM Customized, Absolute Return, and LDI strategies for institutional clients and high net-worth individuals with a $2 million account minimum ($250,000 for closed-end fund strategies).

Product overview

Richmond Capital Management is a fixed income investment management firm offering a comprehensive suite of investment strategies organized into five main categories: Short Duration (separately managed portfolios with durations under 4 years), Core Fixed Income (full spectrum fixed income access), Core Fixed Plus (including below-investment grade exposure), Absolute Return (via RCM MBS Opportunity Fund), and RCM Customized (tailored solutions including TIPS, LDI, and Municipal CEF strategies). The firm manages over $6.5 billion in assets across more than 175 separate accounts and three private commingled funds. Key fund products include the ProLoan Bond Fund (focused on securitized and corporate credit sectors) and the RCM MBS Opportunity Fund (absolute return strategy for federally-guaranteed construction-related MBS).

Differentiator

Problem solved

Functional benefit

Products and services

• Short Duration Strategy Separately managed fixed income portfolios with durations of less than 4 years offering attractive yields, tailored to specific client needs and risk appetite. Targets institutional and high net-worth clients seeking short-duration exposure.
• Core Fixed Income Strategy Separately managed portfolios providing access to the full spectrum of fixed income securities, tailored to meet specific client needs and risk appetite. Designed for institutional clients seeking broad fixed income exposure.
• Core Fixed Plus Strategy Investment strategies leveraging the full market of fixed income securities, including those rated below investment grade, providing institutional clients with broader credit spectrum access than core fixed income alone.
• RCM Customized Strategy Tailored portfolio solutions meeting specific duration targets, restriction lists, credit quality preferences, and tax considerations, designed for institutional clients with bespoke mandates.
• ProLoan Bond Fund Actively-managed fixed income fund designed to achieve enhanced total returns through tactical allocations in highly specialized subsectors of the securitized and corporate credit sectors markets; may hold up to 15% in below-investment grade and 5% in non-rated bonds.
• RCM MBS Opportunity Fund Actively-managed absolute return fixed income fund designed to capitalize on high current income plus monetizing additional total returns from pricing dislocations in the federally-guaranteed construction-related MBS sector; must hold 100% in Treasury and Federally-issued MBS with interest rate risk not exceeding 1 year.
• Opportunistic Core Plus CEF Investment strategy that invests in fixed income closed end funds and ETFs, purchasing funds trading at material discounts to Net Asset Value for enhanced yield or capital appreciation.
• Short Duration High Yield Composite Targets high income and capital preservation by investing in BB/B rated USD cash-pay corporate bonds maturing inside 3 years, seeking high yield type returns with less volatility; strategy includes a stop-loss mechanism to limit downside and strict capacity constraints, avoiding bonds with maturities beyond 5 years or credit ratings of CCC or lower.
• 1-3 Year Government Corporate Composite Investment grade fixed income composite with effective maturities less than 4 years focused on Investment Grade Credit, Agency MBS, ABS, Commercial MBS, Treasuries and Agencies, benchmarked against Bloomberg 1-3 Year Government Credit Index.
• 1-5 Year Government Corporate Composite Investment grade fixed income composite with effective maturities less than 6 years focused on Investment Grade Credit, Agency MBS, ABS, Commercial MBS, Treasuries and Agencies, benchmarked against Bloomberg 1-5 Year Government Credit Index.
• Core Broad Composite Investment grade broad market fixed income composite focused on Investment Grade Credit, Agency MBS, Commercial MBS, ABS, Treasuries and Agencies, benchmarked against Bloomberg Aggregate Index.
• Core Government Corporate Composite Investment grade broad market fixed income composite focused on Investment Grade Credit, Agency MBS, ABS, Commercial MBS, Treasuries and Agencies, benchmarked against Bloomberg Government Credit Index.
• Intermediate Defensive Composite Investment grade fixed income composite with effective maturities less than 12 years, benchmarked against Bloomberg Intermediate Government Credit Index.
• Intermediate Aggregate Composite Investment grade fixed income composite with effective maturities less than 12 years, benchmarked against Bloomberg Intermediate Aggregate Index.
• 1-10 Year TIPS Strategy Passively managed strategy structured to replicate the total return of the intermediate TIPS market, offered within customized fixed income solutions for institutional clients with inflation-protection needs.
• Liability Driven Investing (LDI) Customizable LDI strategies ranging from long duration benchmarks to partial or full liability matching, using simple, transparent, and diversified portfolios with cash bonds for institutional clients with pension or liability-matching needs.
• Opportunistic Municipal CEF Strategy Invests in municipal bond closed end funds and ETFs trading at discounts to Net Asset Value, seeking enhanced yield or capital appreciation for clients seeking municipal fixed income exposure.

Quantifiable outcome

• $6.5 billion in assets under management as of 9/30/25
• +2 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• PRI (Principles for Responsible Investment)coreOthers · 1 April 2017Richmond Capital became a PRI (Principles of Responsible Investing) signatory in April 2017. The firm is committed to integrating ESG principles into its investment process and discloses its PRI self-assessment annually. RCM's president heads up the ESG research group which is directly integrated into credit research.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Loomis Sayles: Active fixed income manager offering a broad suite of institutional strategies spanning investment grade credit, securitized products, and high yield. Directly comparable as a boutique-to-mid-scale fixed income specialist serving pension, endowment, and insurance clients.
• Western Asset Management: Specialist active fixed income manager with deep securitized product expertise (MBS, CMBS, ABS) and a large institutional SMA and fund book. Comparable core business model and institutional client mix to RCM.
• DoubleLine Capital: Active fixed income manager founded on bottom-up credit research with emphasis on securitized and structured products. Comparable in its specialist fixed income focus and institutional SMA/fund distribution.
• Brandywine Global Investment Management: Active fixed income manager offering global multi-sector strategies with strong institutional client base. Comparable in offering institutional fixed income mandates with bespoke portfolio construction.
• TCW Group: Multi-product investment manager with a substantial active fixed income franchise including securitized products. Comparable as a fixed income specialist serving institutional investors.

Broad incumbents

• Nuveen (TIAA) Fixed Income: Large-scale asset manager with a significant fixed income division serving institutional and insurance clients. Overlaps with RCM in core fixed income and securitized strategies but operates at much greater scale and breadth.
• Eaton Vance (Morgan Stanley Investment Management): Diversified asset manager with substantial fixed income capabilities serving institutional and intermediary channels. Comparable in institutional fixed income mandate management but with broader product suite.
• PIMCO: One of the world's largest active fixed income managers offering institutional SMA, fund, and ETF strategies across the full fixed income spectrum. Competes for the same institutional RFPs as RCM but at vastly larger scale.
• BlackRock Fixed Income: Largest global asset manager with a massive active and index fixed income platform serving institutional clients. Competes for the same mandates as RCM but with global distribution and significantly lower fee tiers.
• Vanguard Fixed Income Group: One of the largest fixed income managers globally, with heavy weighting toward low-cost passive and core active strategies. Represents the dominant fee-compression force in institutional fixed income against which RCM competes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/richmond-capital-management-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Richmond Capital Management