Catenary Alternatives Asset Management

What Catenary Alternatives Asset Management does

Catenary Alternatives Asset Management, LLC ('CAAM') is a New York-based registered investment adviser founded in 2017 by Eli Cohen. The firm operates a single product — the Multi-Manager Equity Platform — a multi-PM, fundamental equity market-neutral SMA (Separately Managed Account) platform that seeks to deliver high-quality, high-quantity idiosyncratic alpha from bottom-up stock selection targeted at less-crowded pockets of global equity markets. Its core technical asset is a proprietary Competition and Crowding Model built from extensive public-data collection and advanced modeling techniques, which produces granular security-level insights used to steer gross exposure away from crowded areas toward pockets where alpha remains accessible to fundamental research.

The platform partners with external Portfolio Managers who focus on securities others do not, granting them access to Catenary's proprietary insights and data toolkit while remaining agnostic to PM risk model, concentration, and net/gross exposure. Catenary applies internally managed optimization to neutralize total portfolio risk, isolating and optimizing stock-selection alpha at the portfolio level. The firm is registered under the Investment Advisers Act of 1940 and operates from offices in New York (headquarters) and Miami.

CAAM's business model is that of a traditional fee-based RIA, generating revenue from advisory and investment management services on SMA mandates; specific fee schedules are not publicly disclosed. The firm targets institutional investment clients — including those seeking uncorrelated, alpha-rich fundamental equity exposure — and distributes its offering through direct institutional field sales supported by a corporate website and LinkedIn presence. The firm is privately held, LLC-structured, and founder-controlled, with no disclosed outside funding or institutional investors.

Name

Catenary Alternatives Asset Management

Legal name

Catenary Alternatives Asset Management, LLC

Website

https://catenaryalts.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Catenary Alternatives Asset Management is a New York-based registered investment adviser running a multi-manager equity market-neutral SMA platform that partners with external Portfolio Managers to deliver uncorrelated, alpha-rich fundamental equity returns to institutional clients.

Ownership category

akta.pro rank

Product category

Alternative Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL)

akta.pro secondary industry

Managed Account / SMA Multi-Manager Platforms (FSANAGAL)

Keywords

• Market-neutral equity strategies
• Multi-manager equity platform
• Alternatives asset management
• Separately managed accounts
• Fundamental equity alpha

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. Investment Management Fees: CAAM operates as a registered investment adviser generating revenue through advisory and investment management services. Specific fee structures (management fees, performance fees) are not publicly disclosed but are available upon written request as part of their SEC-required disclosure statement.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Catenary Alternatives Asset Management operates a multi-Portfolio Manager, fundamental equity market-neutral Separately Managed Account (SMA) platform that delivers idiosyncratic alpha derived from bottom-up stock selection. The firm partners with external Portfolio Managers who focus on less-crowded, more alpha-rich pockets of global equity markets and provides them access to proprietary competition and crowding insights while internally managing total portfolio risk neutralization.

Product overview

Catenary Alternatives Asset Management operates a single unified platform—the Multi-Manager Equity Platform (SMA platform)—which launched in 2017. This platform serves as a multi-PM, fundamental equity market-neutral investment solution that partners with external Portfolio Managers who focus on securities others don't, where alpha-rich opportunities exist. The platform uses an internally managed optimization to neutralize total portfolio risk while allowing PMs to capture high-quantity stock selection alpha.

Differentiator

Problem solved

Functional benefit

Products and services

• Multi-Manager Equity Platform (SMA Platform) A multi-Portfolio Manager, fundamental equity market-neutral Separately Managed Account platform that delivers high-quality, high-quantity idiosyncratic alpha derived from bottom-up stock selection in less-crowded pockets of global equity markets, with internally managed portfolio-level risk neutralization. Targeted at institutional investment clients and partner Portfolio Managers.

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• External Portfolio ManagerscoreStrategic or Co-development PartnerCatenary partners with external Portfolio Managers who focus on securities others don't, identifying alpha-rich opportunities. Catenary does not require PMs to be exclusive or change their approach. PMs receive access to Catenary's proprietary insights and data toolkit to help improve their approach while Catenary uses internally managed optimization to neutralize the total portfolio.

Scale indicators2 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Balyasny Asset Management: Multi-manager hedge fund platform operating a pod-based structure with discretionary capital allocated to PMs across global equities and other strategies. Highly comparable external-PM, internally optimized model.
• Millennium Management: The largest multi-manager hedge fund platform globally, operating a federated model of independent PM pods across multiple strategies including fundamental equity market-neutral. Closest direct analog to Catenary's external-PM, internally risk-managed SMA structure.
• Qube Research & Technologies: Systematic, technology-driven multi-manager investment firm with global equity market-neutral strategies. Comparable in combining quantitative and fundamental research in a multi-PM platform.
• Capula Investment Management: Multi-strategy hedge fund manager with significant equity market-neutral and fixed income relative value pods. Operates a comparable multi-manager platform model with strong institutional client base.
• Point72 Asset Management: Founder Steve Cohen's multi-strategy/multi-manager platform with significant equity long/short and market-neutral exposures. Directly comparable in multi-PM architecture and institutional focus, though considerably larger and more diversified.
• Schonfeld Strategic Advisors: Multi-manager hedge fund firm with fundamental equity market-neutral and global macro pods. Directly comparable architecture of internal risk management around external PMs with explicit emphasis on uncorrelated alpha generation.
• Eisler Capital: Multi-manager hedge fund platform founded in 2017 by former Millennium partners, focused on multi-strategy equity and credit. Closely comparable in size, founding vintage, and external-PM platform structure.
• GMT Capital: Multi-manager equity platform with fundamental long/short and market-neutral strategies serving institutional clients. Comparable in size, equity focus, and multi-PM structure.
• Strategic Investment Group: Outsourced CIO managing $10B+ in hedge fund and private equity investments for institutional clients. Founder Eli Cohen's prior employer — directly comparable in multi-manager architecture and institutional allocator focus.

Broad incumbents

• Citadel LLC: Diversified multi-manager alternative investment firm with massive equity market-neutral and global equities businesses. Same multi-PM architecture but vastly broader in scale, asset classes, and strategies.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Catenary Alternatives Asset Management