New Providence Asset Management Announces Senior Hires

NEW YORK, July 1, 2014 /PRNewswire/ -- New Providence Asset Management, a $2.8 billion Outsourced-Investment Office founded in 2003, today announced the addition of Jeannine Caruso and Brooke Parish as senior members of the investment team and partners of the firm.

"We're very pleased to have Jeannine and Brooke join New Providence at a time when we are seeing increased demand from investors for our solutions-based investment services," said Andrew Vogelstein, the Chief Executive Officer of New Providence. "Our ability to attract investment professionals with the experience and expertise of both these individuals speaks to the strength of New Providence in responding to the ever-increasing demand for investment firms to manage significant pools of capital for endowments, foundations and wealthy families."

Both Caruso and Parish will be a part of an 11-person investment team that has a 15-year successful track record.

Ms. Caruso was most recently the Chief Investment Officer for the $250 million Dyson Foundation, where she established both investment and governance policy and managed the Foundation's investment portfolio. Previously, Ms. Caruso was a senior member of The Dyson-Kissner-Moran Corporation, where she participated in all facets of the firm's corporate buyout activities.

"Over the past twenty years, the evolution, growth and complexity of the investment management business have strained the resources of many smaller endowments, foundations and family offices," Caruso said.  "New Providence has the expertise, experience and depth of resources to address these complexities with a transparent governance structure that provides a full alignment of interest with its clients. I look forward to drawing upon my experience managing foundation capital to help New Providence clients enjoy the long-term stability of a professionally managed investment office."

Mr. Parish, who joined the firm earlier this month, spent nine years at York Capital Management, the $23 billion hedge fund firm, where he led the Client Advisory Group and was a partner of the firm. Most recently, he was President and CEO of Oakum Bay Capital. Previously, Mr. Parish spent seven years with Bessemer Trust, where he ran the alternative asset management group in New York. 

"New Providence is unique because historically they have engaged exclusively in the management of capital for non-profits and private families," Parish said.  "Institutions and families understand that full-time professional management of capital is a requirement of fulfilling their fiduciary obligations. The complexity and enormity of the investment landscape requires a multi-faceted investment team to ensure continuity and stability. New Providence knows how to provide that expertise in a thoughtful, unbiased and thoroughly customized approach."

About New Providence Asset Management
New Providence Asset Management is an SEC-Registered Investment Advisor and Outsourced Investment Office managing over $2.8 billion of assets on behalf of institutional and family office clients. The firm has a long term record of achieving superior returns over numerous market cycles managing diversified, open-architecture portfolios that emphasize capital preservation. Portfolios are uniquely structured according to each client's specific needs. To learn about New Providence Asset Management please visit our website at www.newprov.com or call us at 646-292-1200.

SOURCE New Providence Asset Management