Corsair Capital Management, L.P. (New York)


Corsair Capital Management, L.P. is a large advisory firm based in New York. It manages $548.39 million of regulatory assets for 6 client accounts. It has been registered with the SEC as an adviser since 2014.

Corsair Capital Management provides 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.

Corsair Capital Management: assets under management

The assets under management (AUM) of Corsair Capital Management, L.P. is $548.39 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -62% since the beginning of its operation, and $51.65 million of the total AUM is attributable to clients outside of the United States.

The firm manages $548.39 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $91.4 million each.
Corsair Capital Management has custody of $548.39 million in cash and securities for 6 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Corsair Capital Management, L.P. 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 Corsair Capital Management serves?

The only and largest group of clients of Corsair Capital Management is pooled investment vehicles with 6 clients and $548.39 million of assets under management. Among the 8 most similar advisory firms, Corsair Capital Management has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $548.39 million for 6 clients. 33% of the firm’s clients are foreign persons or businesses.

Corsair Capital Management also advises several private funds. Namely, six hedge funds. The minimum investment commitment required of non-related persons is $500,000 for each fund.

Careers at Corsair Capital Management, L.P.

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.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Steven Major Managing member of corsair capital advisors, l.l.c. 1 May 2002 25% - 50% 2664638
Jay Richard Petschek Managing member of corsair capital advisors, l.l.c. 1 May 2002 50% - 75% 1319976
Thomas Gustave Hess Chief financial officer 1 May 2002 Other 6013591
Jay Richard Petschek Managing member of corsair select advisors, l.l.c. 1 Dec 2003 50% - 75% 1319976
Steven Major Managing member of corsair select advisors, l.l.c. 1 Dec 2003 25% - 50% 2664638
Thomas Gustave Hess Chief compliance officer and chief operating officer 1 May 2008 Other 6013591
L.L.C. Corsair Capital Management Gp General partner of corsair capital management, l.p. 1 Jan 2014 Other 46-4687193
L.L.C. Corsair Operations Management Gp General partner of corsair operations management, l.p. 1 Jan 2014 Other 46-4687294

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
Jay Richard Petschek Managing member 1 Jan 2014 50% - 75% 1319976
Steven Major Managing member 1 Jan 2014 25% - 50% 2664638

Based in New York

The principal office where Corsair Capital Management, L.P. performs its advisory services is located at 366 Madison Avenue, New York, NY 10017, 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 212-949-3000 or by fax 212-949-3099. The normal business hours are 9 a.m. - 6 p.m. on Monday - Friday. You can find more information about the New York firm at corsaircap.com.

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