Cove Key Management LP (Houston)

Cove Key Management LP is a large advisory firm based in Houston. It manages $968.19 million of regulatory assets for 3 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdiction of Texas.

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

Cove Key Management: assets under management

The assets under management (AUM) of Cove Key Management LP is $968.19 million. The firm's AUM has grown by 806% since the beginning of its operation, and $83.94 million of the total AUM is attributable to clients outside of the United States.

The firm manages $212.39 million in discretionary accounts and $755.8 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $106.2 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $755.8 million.

Investments

The firm invests in exchange traded securities the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cove Key Management LP for their services and products based on a percentage of assets under management, fixed fees, 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 Cove Key Management serves?

The only and largest group of clients of Cove Key Management is pooled investment vehicles with 2 clients and $212.39 million of assets under management. Among the 10 most similar advisory firms, Cove Key Management has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $212.39 million for 2 clients. 33% of the firm’s clients are foreign persons or businesses.

Cove Key Management also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons ranges from $0 to $1,000,000.

Careers at Cove Key Management LP

The company employs 3 people that are either part- or full-time employees. 100 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Nmn Kiani Aslani	Limited partner - chief compliance officer	1 May 2016	25% - 50%	4748318
Jeffrey Robert Coviello	Limited partner	1 May 2016	25% - 50%	3263545
Cove Key Gp Management Llc	General partner	1 May 2016	Other	81-2761492

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
John Kiani Aslani	Managing member	1 May 2016	50% - 75%	4748318

Based in Houston

The principal office where Cove Key Management LP performs its advisory services is located at 5847 San Felipe Street, Houston, TX 77057, which is also the mailing address of the firm. An additional office of the firm is in Garden City, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (346) 571 - 2528. The normal business hours are 9am - 5.30pm on Monday - Friday.