Greenhouse Funds LlLP (Baltimore)

Name: Greenhouse Funds LlLP
Address: 650 South Exeter Street, Baltimore, MD, 21202
Telephone: 443-961-3914

Greenhouse Funds LlLP is a large advisory firm based in Baltimore. It manages $628 million of regulatory assets for 8 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Maryland and New York.

Greenhouse Funds L 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.

Greenhouse Funds L: assets under management

The assets under management (AUM) of Greenhouse Funds LlLP is $628 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 63% since the beginning of its operation, and $331.2 million of the total AUM is attributable to clients outside of the United States.

The firm manages $628 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $78.5 million each.

Greenhouse Funds L has custody of $341.8 million in cash and securities for 5 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Greenhouse Funds LlLP 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 Joseph Michael Milano serves?

The only and largest group of clients of Joseph Michael Milano is pooled investment vehicles with 8 clients and $628 million of assets under management. Among the 11 most similar advisory firms, Greenhouse Funds L has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $628 million for 8 clients. 75% of the firm’s clients are foreign persons or businesses.

Greenhouse Funds L also advises several private funds. Namely, three hedge funds. The minimum investment commitment required of non-related persons ranges from $250,000 to $10,000,000.

Careers at Greenhouse Funds LlLP

The company employs 7 people that are either part- or full-time employees. 57 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.

Joseph Michael Milano has been acting as President since 1 Mar 2014. Duval James Prey joined the executive team most recently as the Limited Partner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Joseph Michael Milano	Trustee	1 Mar 2011	50% - 75%	6348021
Kirsten Tara Milano	Trustee	1 Mar 2011	50% - 75%	6376999
James Michael Gentile	Limited partner	1 Jun 2013	Other	4454950
Joseph Michael Milano	Chief investment officer	1 Jun 2013	Other	6348021
Cara Marino Gentile	Limited partner	1 Jun 2013	Other	6374756
Rev Trust Dtd 3/30/11 And K T Milano Tr Kirsten T Milano Rev Trust Dtd 3/30/11 Ten Com J M Milano Tr Joseph M Milano	Limited partner	1 Jun 2013	Other	xxx-xx-xxxx
Greenhouse Gp Llc	General partner	1 Jun 2013	Other	46-3248167
Patrick Joseph Mitchell	Chief financial officer/chief compliance officer	1 Jul 2013	Other	5077500
Joseph Michael Milano	Director	1 Mar 2014	Other	6348021
Baird Financial Corporation	Limited partner	1 Mar 2014	Other	39-1289533
Charles Richard Reese	Director	1 Mar 2014	Other	6356394
William Walter Mahler	Director	1 Mar 2014	Other	1545141
Terrance Patrick Maxwell	Director	1 Mar 2014	Other	1463158
Charles Alan Morris	Chief operating officer	1 Jul 2014	Other	1781800
Charles Alan Morris	Limited partner	1 Jan 2015	Other	1781800
Charles Alan Morris	Director	1 Nov 2016	Other	1781800
Patrick Joseph Mitchell	Limited partner	1 Jan 2017	Other	5077500
Scott Charles Barry	Limited partner	1 Jan 2017	Other	2009744
Benjamin David Landy	Limited partner	1 Jan 2017	Other	6775841
Duval James Prey	Limited partner	1 Jan 2018	Other	1188083

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Baird Holding Company	Shareholder	1 May 2001	75% - 100%	39-2027336
Inc. Baird Financial Group	Shareholder	1 Oct 2012	75% - 100%	80-0844225
Rev Trust Dtd 3/30/11 And K T Milano Tr Kirsten T Milano Rev Trust Dtd 3/30/11 Ten Com J M Milano Tr Joseph M Milano	Member	1 Nov 2016	25% - 50%	xxx-xx-xxxx

Based in Baltimore

The principal office where Greenhouse Funds LlLP performs its advisory services is located at 650 South Exeter Street, Baltimore, MD 21202, which is also the mailing address of the firm. An additional office of the firm is in Floral Park, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 443-961-3914. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at greenhousefunds.com.