Ofs Capital Management, LLC (Chicago)

Name: Ofs Capital Management, LLC
Address: 10 South Wacker Drive, Chicago, IL, 60606
Telephone: 847-734-2000

Ofs Capital Management, LLC is a large advisory firm based in Chicago. It manages $1.3 billion of regulatory assets for 9 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of California, Illinois, and New York.

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

Ofs Capital Management: assets under management

The assets under management (AUM) of Ofs Capital Management, LLC is $1.3 billion. The firm's AUM has grown by 93% since the beginning of its operation, and $36.69 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.26 billion in discretionary accounts and $41.06 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $180.19 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $20.53 million.

Investments

The firm invests in investment and business development companies the most. They account for 76% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 16% of the firm’s portfolio. Investments in non-exchange traded securities form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Ofs Capital Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Bilal (Nmn) Rashid serves?

The firm provides services to investment companies, pooled investment vehicles, and business development companies. The largest group of clients of Bilal (Nmn) Rashid is pooled investment vehicles with 4 clients and $739.74 million of assets under management. Among the 9 most similar advisory firms, Ofs Capital Management has the 5th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $1.26 billion for 7 clients. 33% of the firm’s clients are foreign persons or businesses.

Ofs Capital Management also advises several private funds. Namely, three securitized asset funds. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Ofs Capital Management, LLC

The company employs 48 people that are either part- or full-time employees. 54 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.

Bilal (Nmn) Rashid has been acting as President since 1 Mar 2010. Glenn Robert Pittson has served as the Chief Investment Officer since 1 Mar 2010. Mukya Sue Denise Porter joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jeffrey Alan Cerny	Vice president/member, orchard first source asset management, llc	1 Dec 2009	Other	5777980
Bilal (Nmn) Rashid	Chief executive officer/member, orchard first source asset management, llc	1 Dec 2009	Other	4060309
Richard Scott Ressler	Chairman of the executive committee, orchard first source asset management, llc	1 Dec 2009	Other	1291473
Llc Orchard Investments Ii	Member, orchard first source asset management, llc	1 Dec 2009	75% - 100%	26-1600189
Inc Orchard First Source Capital	Manager, orchard first source asset management, llc	1 Dec 2009	Other	36-3991241
Kathi Jo Inorio	Senior managing director/invesment committee member, orchard first source asset management, llc	1 Dec 2009	Other	5777992
Robert Stephen Palmer	Managing director/investment committee member, orchard first source asset management, llc	1 Dec 2009	Other	5778020
Glenn Robert Pittson	President/investment committee member, orchard first source asset management, llc	1 Dec 2009	Other	2752086
Llc Orchard First Source Asset Management	Sole member/manager, ofs capital management, llc	1 Mar 2010	75% - 100%	27-1546550
Jeffrey Alan Cerny	Treasurer/senior managing director, ofs capital management, llc	1 Mar 2010	Other	5777980
Bilal (Nmn) Rashid	President/senior managing director, ofs capital management, llc	1 Mar 2010	Other	4060309
Kathi Jo Inorio	Senior managing director/investment committee member	1 Mar 2010	Other	5777992
Glen Eric Ostrander	Director	1 Mar 2010	Other	4459724
Robert Stephen Palmer	Managing director/investment committee member	1 Mar 2010	Other	5778020
Glenn Robert Pittson	Chief investment officer/investment committee member	1 Mar 2010	Other	2752086
Richard Scott Ressler	Chairman of the investment committee	1 Mar 2010	Other	1291473
Eric P. Rubenfeld	General counsel and chief compliance officer, ofs capital management, llc and orchard first source asset management, llc	1 Sep 2010	Other	5732945
Eric Philip Rubenfeld	Chief legal officer and chief compliance officer, ofs capital management, llc and orchard first source asset management, llc	1 Sep 2010	Other	5732945
Mark Steven Hauser	Senior managing director, ofs capital management, llc	1 Dec 2013	Other	1583561
Richard Scott Ressler	Principal(chairman)/member, ocv management, llc	1 Apr 2016	50% - 75%	1291473
Eric Philip Rubenfeld	Chief legal officer and chief compiance officer, ocv management, llc	1 Apr 2016	Other	5732945
Mark Terrence Yung	Managing principal/member, ocv management, llc	1 Apr 2016	25% - 50%	6713058
Tod Kevin Reichert	Managing director, general counsel & secretary	1 Sep 2016	Other	6774417
Mukya Sue Denise Porter	Chief compliance officer	1 May 2017	Other	4775531

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Richard Scott Ressler	Owner/co-founder/chairman	1 Feb 2004	50% - 75%	1291473
Richard Scott Ressler	Member	1 Dec 2007	25% - 50%	1291473
Llc Orchard First Source Asset Management	Owner	1 Dec 2009	75% - 100%	27-1546550
Inc. Orchard First Source Capital	Manager	1 Dec 2009	Other	36-3991241

Based in Chicago

The principal office where Ofs Capital Management, LLC performs its advisory services is located at 10 South Wacker Drive, Chicago, IL 60606, which is also the mailing address of the firm. An additional office of the firm is in Los Angeles, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 847-734-2000 or by fax 847-734-7910. The normal business hours are 9am - 5pm (cst) on Monday - Friday. You can find more information about the New York firm at ofsmanagement.com.