Silverback Asset Management, LLC (Chapel Hill)

Name: Silverback Asset Management, LLC
Address: 1414 Raleigh Road, Chapel Hill, NC, 27517
Telephone: 919-969-9300

Silverback Asset Management, LLC is a large advisory firm based in Chapel Hill. It manages $686.63 million of regulatory assets for 5 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdiction of North Carolina.

Silverback Asset 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.

Silverback Asset Management: assets under management

The assets under management (AUM) of Silverback Asset Management, LLC is $686.63 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 189% since the beginning of its operation, and $399.78 million of the total AUM is attributable to clients outside of the United States.

The firm manages $686.63 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $137.33 million each.

Silverback Asset Management has custody of $158.22 million in cash and securities for 3 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in non-investment grade corporate bonds the most. They account for 84% of the total AUM. The second-largest asset type is exchange traded securities, which make up 10% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Silverback Asset Management, LLC 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 Silverback Asset Management serves?

The firm provides services to pooled investment vehicles and corporations or other businesses. The largest group of clients of Silverback Asset Management is corporations or other businesses with 2 clients and $528.41 million of assets under management. Among the 7 most similar advisory firms, Silverback Asset Management has the highest percentage of corporations or other businesses out of all clients.

The amount of regulatory assets under management is $686.63 million for 5 clients. 58% of the firm’s clients are foreign persons or businesses.

Silverback Asset Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $2,000,000 for each fund.

Careers at Silverback Asset Management, LLC

The company employs 15 people that are either part- or full-time employees. 40 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 compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Elliot Glen Bossen	Managing member and chief investment officer	1 Jun 2002	75% - 100%	735847
Andrew Bedell Chacos	Chief operating officer	1 Sep 2003	Other	1501722
Kevin Michael Kohles	Chief compliance officer	1 Jul 2006	Other	4189916
Laura Anne Kleber	Chief compliance officer	1 May 2017	Other	1909715

Based in Chapel Hill

The principal office where Silverback Asset Management, LLC performs its advisory services is located at 1414 Raleigh Road, Chapel Hill, NC 27517, 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 919-969-9300 or by fax 919-969-9828. The normal business hours are 8am - 5pm on Monday - Friday. You can find more information about the New York firm at silverbackasset.com.