Axar Capital Management LP (New York)

Name: Axar Capital Management LP
Address: 1330 Avenue Of The Americas, New York, NY, 10019
Telephone: 212-356-6130

Axar Capital Management LP is a large advisory firm based in New York. It manages $758.43 million of regulatory assets for 9 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdiction of New York.

Axar Capital Management provides portfolio management for pooled investment vehicles and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Axar Capital Management: assets under management

The assets under management (AUM) of Axar Capital Management LP is $758.43 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 150% since the beginning of its operation, and $485.97 million of the total AUM is attributable to clients outside of the United States.

The firm manages $758.43 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $84.27 million each.

Investments

The firm invests in non-exchange traded securities the most. They account for 41% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 34% of the firm’s portfolio. Investments in other assets form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Axar Capital Management LP for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Timothy C. Parrott serves?

The only and largest group of clients of Timothy C. Parrott is pooled investment vehicles with 6 clients and $627.8 million of assets under management. Among the 10 most similar advisory firms, Axar Capital Management has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $627.8 million for 6 clients. 22% of the firm’s clients are foreign persons or businesses.

Axar Capital Management also advises several private funds. Namely, one hedge fund and three private equity funds. The minimum investment commitment required of non-related persons ranges from $1,000,000 to $5,000,000.

Careers at Axar Capital Management LP

The company employs 12 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Timothy C. Parrott has been acting as President since 1 Apr 2015. Lionel Benichou joined the executive team most recently as the Chief Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Axar Gp Llc	General partner	1 Apr 2015	Other	47-3244566
Andrew M. Axelrod	Managing partner / portfolio manager	1 Apr 2015	50% - 75%	5005743
Timothy C. Parrott	President	1 Apr 2015	25% - 50%	3058675
Ricardo A. Mosquera	Chief compliance officer / chief operating officer	1 Apr 2015	Other	6106035
Andrew Martin Axelrod	Managing partner / portfolio manager	1 Apr 2015	50% - 75%	5005743
Timothy Christopher Parrott	President	1 Apr 2015	25% - 50%	3058675
Ricardo Antonio Mosquera	Chief compliance officer / chief operating officer	1 Apr 2015	Other	6106035
Lionel Benichou	Chief financial officer	1 Jan 2017	Other	5138081

Based in New York

The principal office where Axar Capital Management LP performs its advisory services is located at 1330 Avenue Of The Americas, New York, NY 10019, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-356-6130 or by fax 212-956-3127. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at axarcapital.com.