Channing Capital Management

What Channing Capital Management does

Channing Capital Management, LLC is an independent, employee-owned boutique investment management firm headquartered at 10 South LaSalle Street, Chicago, founded in 2003 by Rodney B. Herenton, Wendell E. Mackey, CFA, and Eric T. McKissack, CFA with $70.0 million in seed assets from Regions Morgan Keegan. The firm manages approximately $4.5 billion in assets under management as of June 30, 2026 across a multi-strategy intrinsic value equity platform spanning Micro-Cap, Small-Cap, SMID-Cap, Large-Cap, and All-Cap Value strategies, bench-marked against the Russell Microcap, 2000, 2500, 1000, and 3000 Value indices respectively. The Small-Cap strategy, incepted June 2006, is the firm's flagship and is also offered to retail investors via the OWLLX mutual fund launched in July 2021 and distributed by Ultimus Fund Distributors. The underlying investment process is a qualitative intrinsic-value framework inspired by Benjamin Graham and Warren Buffett, supported by a proprietary screening process and a 100+ year combined-experience investment team.

The go-to-market is enterprise field sales to institutional investors (pension funds, endowments, foundations, family offices) via separately managed accounts, collective investment funds, and 3(c)7 funds, augmented by retail/wealth channel distribution through OWLLX and sub-advisory relationships with RIAs and wealth platforms. The firm has expanded its addressable market through three affiliates: Channing Global Advisors (co-founded 2017), which runs Emerging Markets All Cap, Emerging Markets Small Cap, ACWI ex USA, Global Equity, and International Developed strategies out of the Chicago parent; Channing Alternatives, an independent Miami-based affiliate pursuing non-correlated lower-middle-market private investments; and a 2023 strategic investment in Preserver Partners, a Memphis-based absolute-return manager.

The business model is recurring advisory and management fees charged on assets under management across both public-equity and private-market vehicles; pricing is not publicly disclosed but follows industry-standard AUM-based fee schedules, with expense ratios for OWLLX disclosed in its prospectus. The firm is privately held with 19 employees, no parent company, and no disclosed PE/VC or strategic institutional ownership beyond the original Regions Morgan Keegan seed relationship. Its operating geographies are the United States (primary) and international/emerging markets via Channing Global Advisors; the firm is not pursuing a global footprint beyond these channels.

Name

Channing Capital Management

Legal name

Channing Capital Management, LLC

Website

https://channingcapital.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

Channing Capital Management is an independent, employee-owned Chicago-based boutique investment manager founded in 2003, managing approximately $4.5 billion in intrinsic value U.S. equity strategies across micro-, small-, SMID-, large-, and all-cap, plus international/EM and private-market affiliates serving institutional, retail, and family-office clients.

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Advisory Fees: Channing Capital Management earns revenue through investment advisory and management fees charged on assets under management. The firm manages $4.5 billion in AUM (as of June 30, 2026) across institutional separately managed accounts, mutual funds, and private funds.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Channing Capital Management is an independent, employee-owned boutique investment management firm that provides actively managed equity strategies built on intrinsic value investing principles. The firm offers U.S. equity strategies (small-cap, SMID-cap, large-cap, all-cap, micro-cap value) through separately managed accounts, a mutual fund, collective investment funds, and 3(c)7 funds, alongside international and emerging markets strategies via affiliate Channing Global Advisors and private market investments via Channing Alternatives.

Product overview

Channing Capital Management is an independent, employee-owned boutique investment management company providing advisory services for institutional and individual investors. The company operates a multi-strategy platform organized under several sub-brands: (1) Channing Capital Management offers five core equity value strategies spanning micro-cap, small-cap, SMID-cap, large-cap, and all-cap value approaches, available through separately managed accounts, mutual funds, collective investment funds, and 3(c)7 funds; (2) Channing Global Advisors, a separate affiliate launched in 2017, focuses on international and emerging markets with five strategies including Emerging Markets All Cap, Emerging Markets Small Cap, ACWI ex USA, Global Equity, and International Developed; (3) Channing Alternatives, another affiliate based in Miami, focuses on private market investments in the lower middle market; and (4) OWLLX, the firm's first publicly traded mutual fund launched in 2021 providing retail access to the small-cap value strategy. The flagship small-cap value strategy, managed since 2006, is the firm's founding investment discipline built on intrinsic value investing principles.

Differentiator

Problem solved

Functional benefit

Brands

• OWLLX: Channing Intrinsic Value Small-Cap Fund - Institutional Share Class mutual fund ticker symbol, investing primarily in domestic small capitalization stocks trading at significant discounts to intrinsic value.

Products and services

• Small-Cap Value Strategy Flagship intrinsic value investment strategy focusing on U.S. small capitalization stocks with market capitalizations primarily between $500 million and $3 billion. Benchmarked against the Russell 2000 Value Index. Available through separately managed accounts and the OWLLX mutual fund.
• SMID-Cap Value Strategy Investment strategy focusing on small-mid cap equities with market capitalizations primarily between $1 billion to $15 billion. Benchmarked against the Russell 2500 Value Index. Available to institutional investors via separate accounts, collective investment funds, and 3(c)7 funds.
• Large-Cap Value Strategy Investment strategy focusing on large capitalization equities with market capitalizations primarily $1.5 billion and above. Benchmarked against the Russell 1000 Value Index. Winner of the 2026 Emerging Manager Awards.
• All-Cap Value Strategy Investment strategy focusing on companies across all market capitalizations, primarily $300 million and above. Benchmarked against the Russell 3000 Value Index.
• Micro-Cap Value Strategy Investment strategy focusing on micro capitalization equities with market capitalizations primarily between $200 million and $1.2 billion. Benchmarked against the Russell Microcap Value Index.
• Channing Intrinsic Value Small-Cap Fund (OWLLX) First publicly traded mutual fund offering institutional and retail investors access to Channing's small-cap value strategy. Ticker: OWLLX, Institutional Share Class, CUSIP: 92046L429. Investable universe is primarily domestic small capitalization stocks focused on quality companies that are attractively valued.
• Emerging Markets All Cap Strategy Thematic growth approach focusing on up to 70 high-quality, growing companies in developing economies across market capitalizations. Benchmarked against MSCI Emerging Markets Index. Offered through Channing Global Advisors affiliate.
• Emerging Markets Small Cap Strategy Thematic growth approach focusing on up to 100 high-quality, growing companies in developing economies, generally with market capitalizations of less than $5 billion (USD). Benchmarked against MSCI Emerging Markets Small Cap Index. Offered through Channing Global Advisors affiliate.
• ACWI ex USA Strategy Invests in emerging and developed markets, excluding the United States, focusing exclusively on up to 70 high-quality businesses trading at a discount to intrinsic value. Benchmarked against MSCI ACWI ex USA Index. Offered through Channing Global Advisors affiliate.
• Global Equity Strategy Invests in the United States, developed markets, and emerging markets, focusing exclusively on up to 50 high-quality businesses that trade at a discount to intrinsic value. Benchmarked against MSCI ACWI Index. Offered through Channing Global Advisors affiliate.
• International Developed Strategy Fundamental intrinsic value approach investing in up to 60 companies, generally within the MSCI EAFE Index. Offered through Channing Global Advisors affiliate.
• Channing Alternatives Affiliate of Channing Capital Management focusing on direct, private investments in unique business opportunities within the lower middle market space. Through an unconstrained approach to private markets, the firm gains patience and flexibility in sourcing, vetting, and investing in unique business franchises. Targets family offices and high-net-worth individuals.

Quantifiable outcome

• Celebrating 20 years of operation with consistent intrinsic value discipline

Named customers2 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

Feature2 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Preserver PartnersminorStrategic or Co-development Partner · 1 January 2023Channing Alternatives made a strategic investment in Preserver Partners in 2023. Preserver Partners is a Memphis-based investment management firm with an investment philosophy centered on generating uncorrelated, long-term positive absolute returns across all market cycles while preserving capital.
• Josephine Jimenez, CFAcoreStrategic or Co-development PartnerCo-founder of Channing Global Advisors along with Wendell Mackey and Rodney Herenton. Josephine Jimenez serves as Chief Investment Officer and Portfolio Manager of Channing Global Advisors' Thematic Growth Strategies.
• Channing Global AdvisorscoreStrategic or Co-development PartnerAn affiliate of Channing Capital Management formed in 2017 to carry forward the parent's quest for high-quality growing businesses in international and emerging markets. Co-founded by Wendell Mackey, Rodney Herenton, and Josephine Jimenez. Offers Emerging Markets All Cap, Emerging Markets Small Cap, ACWI ex USA, Global Equity, and International Developed strategies.
• Channing Alternatives, LLCcoreStrategic or Co-development PartnerIndependent affiliate of Channing Capital Management focusing on direct, private investments in unique business opportunities within the lower middle market space. Located in Miami, Florida. Has access to proprietary deal flow through Channing's current investor base of family offices, wealth management platforms, RIAs, and high-net-worth individuals.

Scale indicators6 records

Recent moves11 records

Expansion highlights5 records

Broad incumbents

• Artisan Partners: Multi-affiliate U.S. asset manager that includes several small- and mid-cap value teams under one platform — relevant as a larger incumbent that absorbs boutique talent and competes for the same institutional value mandates.
• Calvert Research and Management: Established active-equity manager with a long-standing small-cap value franchise (and where Wendell Mackey previously worked); a relevant larger peer whose value capabilities overlap with Channing's flagship strategies.

Direct peers

• Ariel Investments: African American-founded Chicago boutique long-only equity manager with deep small- and mid-cap value roots — the most direct cultural and strategic analog to Channing's founder-led value mission.
• Nuance Investments: Boutique value equity manager focused on small- and mid-cap U.S. equities with concentrated, fundamentally driven portfolios — directly comparable in mandate, philosophy, and institutional client base.
• Driehaus Capital Management: Chicago-based boutique active-equity manager specializing in small- and mid-cap equity strategies with a similarly concentrated, fundamental research-driven approach and a comparable headcount and AUM scale ($4–6B range).
• WEDGE Capital Management: Charlotte-based boutique small- and mid-cap value manager with concentrated fundamental research; notably a past employer of several Channing PMs, indicating a directly comparable research culture.
• Ranger Investments: Institutional small-cap value boutique applying fundamental intrinsic value research — directly comparable in AUM scale, strategy mix, and distribution model.
• Westwood Holdings Group: Dallas-based boutique institutional asset manager offering large-cap, small-cap, and multi-asset value strategies with concentrated high-conviction portfolios — closely parallel to Channing's value-equity platform.
• Vaughan Nelson Investment Partners: Houston-based small/mid-cap value equity boutique with concentrated portfolios and an institutional separately managed account focus — directly comparable mandate and client overlap.
• Polen Capital: Boutique concentrated equity manager (with small- and mid-cap value strategies) built around a fundamental quality-compounder philosophy — a high-conviction equity peer at a similar institutional scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 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 Channing Capital Management