March 20, 2020: In an abundance of caution, PA has implemented a work from home policy as of today. The firm remains fully operational, and we are available to clients by phone and email, as always. We have already been successfully using our video and teleconference capabilities for meetings over the last few weeks and will continue to do so. We are closely monitoring the situation with COVID-19 and will adapt as needed consistent with recommendations from the CDC and the policies and action plan of our principal owner, New York Life Insurance Company.* The suspension of travel by PA employees remains in place. We have also been in frequent contact with our managers and key service providers to confirm their protocols and business continuity plans. While these temporary policies may be inconvenient, we feel it is in the best interest of our employees and clients and do not currently anticipate any material impact to our investment capabilities.
We will continue to share any updates we have with you here on our website as the need arises. We hope that you and your family remain safe. If you have any questions or concerns, please do not hesitate to reach out to us at PrivateAdvisorsIR@privateadvisors.com.
*New York Life Insurance Company owns a substantial portion of Private Advisors LLC through its subsidiary, New York Life Investment Management Holdings LLC.
Private Advisors sources, underwrites, structures, and manages investments in small to mid-sized managers and direct transactions across the liquidity spectrum. Our integrated platform has expertise in Small Company Private Equity, Real Assets, and Long/Short Equity. The long-term nature of our capital and range of expertise provides origination and diligence advantages that benefit our investors. We build commingled and customized portfolios on behalf of investors that seek to preserve and grow capital.
We have 37 investment professionals across our platform. Our 16 Investment Committee members average 20 years of alternative investment experience. We believe the collective knowledge and network of our platform is vital to superior decision-making; therefore we foster a team-based culture predicated on collaboration and information sharing.
For more than 20 years, institutional investors and wealthy families have entrusted us to invest capital on their behalf. In 2010 we entered into a strategic partnership with New York Life Investment Management LLC, a subsidiary of New York Life Insurance Company, a AAA-rated company and one of the largest life insurers in the world(2). Our partnership with New York Life provides organizational stability, an ability to attract and retain talent, and aligned investment capital. A strong alignment of interests with our clients remains paramount. Employees maintain meaningful ownership in our firm and, along with New York Life, have substantial capital invested alongside our clients.