What Lyrical Asset Management does

Lyrical Asset Management LP is an independently owned, fundamental value investment manager founded in 2008 by Jeffrey Keswin and Andrew Wellington. The firm is headquartered in New York and offers four concentrated equity strategies: U.S. Value Equity, International Value Equity, Global Value Equity, and Global Impact Value Equity (GIVES), each managed using its proprietary 'Gems Amid the Junk™' methodology that combines value, quality, and analyzability criteria to identify quality companies at cheap valuations. Portfolios typically hold 20-75 stocks, exhibit Active Share of 95%+ versus benchmarks, run at approximately 15% annual turnover, and carry a 7-year average holding period. The firm reports $8.3 billion in firm assets as of the present day.

The firm distributes its strategies through Separately Managed Accounts (with a $2.5M minimum for the SMA EQ performance-fee structure and $5M for SMA CS variants), U.S. registered mutual funds (LYRIX launched 2013, LYRWX launched 2020), UCITS-compliant vehicles for international investors, and UMA platforms. Revenue is generated through a combination of management fees (0.25%-0.75% depending on vehicle) and performance fees (20% on certain SMA and UCITS structures). Distribution is led by dedicated institutional sales, consultant relations, and advisor relations teams.

Lyrical targets four primary client segments: institutional investors (endowments, foundations, pension funds), financial advisors and wealth managers, high net worth individuals meeting SMA minimums, and investment consultants. The firm holds GIPS compliance with independent verification through December 31, 2021, and operates with a lean senior team reporting to the founder-CEO and founder-CIO across investment, distribution, operations, and compliance functions.

Name

Lyrical Asset Management

Legal name

Lyrical Asset Management LP

Website

https://lyricalam.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Lyrical Asset Management is an independently owned, fundamental value investment manager founded in 2008, offering concentrated U.S., international, global, and impact equity strategies to institutional investors, financial advisors, and high net worth individuals, managing $8.3 billion in firm assets.

Ownership category

akta.pro rank

Product category

Value Equity Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Large-Cap Equity (Active) (FSAAAIAA)

akta.pro secondary industry

Sustainable/Thematic Investing (Climate, Clean Tech, Water, Biodiversity) (FSAAALAB)

Keywords

• Value equity investing
• Active asset management
• Separately managed accounts
• Institutional investment management
• Mutual fund management

Headquarters

HQ city

New York

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, Marketing or Sales, Infrastructure, Others

Revenue model

1. Asset Management Fees: Lyrical generates revenue primarily through management fees and performance fees charged on assets under management. Management fees range from 0.75% annually depending on the vehicle and fee structure. Performance fees of 20% are charged on certain strategies (e.g., SMA EQ). The firm manages $8.3 billion in firm assets as of the current date.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Lyrical Asset Management is an independent investment manager that delivers fundamental value investing strategies (U.S., International, Global, and Global Impact Value Equity) to institutional investors, financial advisors, and high net worth individuals. The firm manages $8.3 billion across four core strategies and distributes them through Separately Managed Accounts, mutual funds (LYRIX, LYRWX), UCITS vehicles, and UMA programs. The investment process is built on the proprietary Gems Amid the Junk® methodology, targeting high Active Share (95%+) concentrated portfolios with low turnover for tax efficiency.

Product overview

Lyrical Asset Management offers four core investment strategies focused on fundamental value investing: U.S. Value Equity Strategy, International Value Equity Strategy, Global Value Equity Strategy, and Global Impact Value Equity Strategy (GIVES). These strategies are offered through multiple vehicle types including Separately Managed Accounts (SMAs), Limited Partnerships, UCITS funds, and Mutual Funds (LYRIX and LYRWX). The strategies are grounded in a disciplined bottom-up process selecting from the largest stocks in developed markets, seeking 'gems amid the junk' with high Active Share typically above 95%.

Differentiator

Problem solved

Functional benefit

Brands

• LYRIX: Lyrical U.S. Value Equity Fund mutual fund launched in 2013
• LYRWX
• GIVES

Products and services

• U.S. Value Equity Strategy Concentrated portfolio of approximately 33 U.S. listed stocks selected from the largest 1,000 U.S. stocks using a pure bottom-up approach focused on value, quality, and analyzability. Designed for institutional investors, financial advisors, and high net worth individuals seeking differentiated U.S. value equity exposure.
• International Value Equity Strategy Concentrated portfolio of 25-40 international listed stocks selected from the largest 1,500 non-U.S. developed market stocks using a pure bottom-up approach focused on value, quality, and analyzability. Designed for institutional investors, financial advisors, and high net worth individuals seeking international value equity exposure.
• Global Value Equity Strategy
• Global Impact Value Equity Strategy (GIVES)
• Lyrical U.S. Value Equity Fund (LYRIX)
• Lyrical International Value Equity Fund (LYRWX)

Quantifiable outcome

• Targeted 500 bps outperformance vs benchmarks (S&P 500, MSCI EAFE, MSCI World)
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Pzena Investment Management: Large-cap deep value equity manager founded by former Pzena partners; Lyrical CIO Andrew Wellington was a founding member and first research analyst at Pzena. Pzena runs classic value strategies for institutional clients, the closest comparable to Lyrical's U.S. and Global Value Equity approaches.
• Ariel Investments: Independent, employee-owned value equity manager serving institutional and intermediary clients with concentrated, fundamental strategies. Mirrors Lyrical's concentrated, high-conviction value process and institutional/advisor distribution focus.
• Tweedy, Browne Company: Long-standing deep value manager with global and international strategies offered via mutual funds and institutional SMAs. Highly comparable to Lyrical's bottom-up value methodology and multi-vehicle (SMA + UCITS-equivalent) distribution.
• Southeastern Asset Management: Long-term, concentrated value manager with global and international strategies distributed primarily to institutions. Closely aligned with Lyrical's long holding period, low-turnover, high Active Share approach; former employer of Lyrical's Mike Galano.
• Brandywine Global Investment Management: Value-oriented global equity manager offering concentrated strategies to institutional clients worldwide. Comparable to Lyrical's Global Value Equity Strategy in mandate design and institutional distribution.
• GAMCO Investors (Gabelli Funds): Multi-strategy asset manager with a flagship value equity focus across mutual funds and institutional SMAs. Comparable product set and institutional/consultant channel to Lyrical; former employer of Lyrical consultant relations head Katrina O'Leary.

Broad incumbents

• ClearBridge Investments: Large, established active equity manager (Legg Mason / Franklin Templeton affiliate) with significant value equity franchises serving institutional and retail clients. Larger, broader alternative to Lyrical with overlapping institutional value mandates.
• AllianceBernstein: Diversified global asset manager with sizable value equity products across institutional and retail channels. Multiple Lyrical team members (Mike Galano, Matt Mangiacotti) previously worked at AB, reflecting the cross-flow of talent between the firms.
• Lazard Asset Management: Global asset manager offering active equity strategies, including value and international value products, to institutional clients. Overlaps with Lyrical in international/global value mandate design and institutional distribution.
• Neuberger Berman: Large private, employee-owned asset manager with significant active value equity AUM and a strong institutional channel. Lyrical CIO Andrew Wellington previously ran Neuberger's institutional mid-cap value product, and senior team member Craig Lifschutz was a former VP there.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lyrical-asset-management

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 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 Lyrical Asset Management