Additive’s mission is to apply our decades-developed experience in risk management and financial-services operational efficiency to enable our partners to deliver a better end-to-end solution to their clients.

Additive Advisory PBC

Areas of Focus

Additive works with sophisticated investors on a fully customized basis, offering expertise and, as relevant, infrastructure in the below areas:

Alternatives Investment Management

Additive is the investment manager for an onshore domestic partnership focused on investing in value-oriented (primarily) equity positions on a concentrated basis.

Hedge Fund Operations

Additive has partnered with investment managers, where Additive has full responsibility for the operations vertical of a fund structure. Additive has experience launching both domestic-only and Cayman master-feeder vehicles.

Fund Structure Optimization

Additive offers consulting services to clients to assist in reviewing and possibly enacting changes to help optimize fund structures.

Derivatives-Centric Customized Solutions

Additive assesses overall portfolios and/ or single-concentrated positions to develop, propose, and implement derivatives-based solutions to assist managers in alleviating or mitigating discrete portfolio exposures.

Principal Investment

Additive and its members continually evaluate various opportunities to commit capital or provide financing for projects, companies, and funds.

Additive has composed a strong team of associates with diverse backgrounds and exceptional character.

Our Firm & Team

Founded in 2016, Additive Advisory PBC is an SEC-Registered Investment Advisor that represents over 50 years of combined investment experience.

As a Public Benefit Corporation (PBC), we strive “to increase the flow of capital to charitable organizations … focused on the area surrounding Memphis, TN, which serve underprivileged constituencies of that community.” We are very proud to annually commit to serving our community through various charitable organizations that help make our home city a better place.

Jeff

Jeffrey Engelberg, CFA

CEO

Jeff co-founded Additive and serves as the firm’s team leader. Jeff’s expertise centers around derivatives structuring, liquidity/ large-position management, and market structure. In 2010, Jeff testified before the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues, which included all Commissioners of the SEC and CFTC.

Prior to Additive, Jeff served as a trader and principal for Southeastern Asset Management (9 years), head trader for Fir Tree Partners (2 years), a convertible bond trader for KBC Financial Products (4 years), and an equity trader for Morgan Stanley (1 year).

Jeff completed both his BS and MBA at the Wharton School of the University of Pennsylvania.

Jenny

Jenny Herman

Compliance & Operations

Jenny joined Additive to focus on operations and compliance. In this role, Jenny works on financial accounting and reporting, transaction settlements, regulatory requirements, and counterparty communications.

She has over 15 years’ experience in the financial services industry, serving primarily in accounting and compliance capacities. Prior to joining Additive, Jenny worked in an audit and compliance role for Pinnacle Bank (fka Magna Bank) with a focus on industry and government regulations and guidelines for the mortgage servicing industry. She also conducted internal audit functions and developed the bank’s business continuity plan.. Jenny began her career as an auditor in the financial services group of PwC.

Jenny graduated with a BSBA in accounting, with honors, from the McDonough School of Business at Georgetown University and passed the CPA examination in Georgia.

Monte

Monte Eiseman

Operations & Trading

Monte joined Additive to assist with the day-to-day operations of the firm. He utilizes his diverse set of experiences and roles within the financial services industry to continue to optimize Additive’s operations processes.

Prior to Additive, Monte worked in an operations & portfolio administration role for Kelman-Lazarov, a Memphis-based RIA firm. Prior to joining Kelman-Lazarov, Monte worked for Guild Capital, a Chicago-based venture capital firm, and for Northern Trust Hedge Fund Services.

Monte graduated from the University of Miami’s Herbert Business School with a BSBA in Finance.

Kevin

Kevin Brazzell

Operations

Kevin joined the team at Additive in a multi-faceted operational role. Kevin focuses on fund compliance, reporting, reconciliations, and other daily operations.

Prior to Additive, Kevin worked in a business development role for Jackson Analytics. Prior to joining Jackson Analytics, Kevin worked for Southeastern Asset Management, where he assisted with client service, business development, and client reporting.

Kevin graduated from the University of Memphis, with a dual honors BBA in finance.

We believe partnership is about creating value for others. Over the long-term, our success will be a function of the value that we help create.

Insights

Hedge Fund Structure Optimization

Advantages for US Tax-Exempt Investors via Onshoring Investment in Hedge Funds and Use of Notional Principal Contract Swap Transactions

2022, Published in Bloomberg’s Tax Management Memorandum

In concert with our co-authors at Kleinberg, Kaplan, Wolff & Cohen, P.C., we discuss an alternative approach to structuring hedge funds, which may allow US Tax-Exempt entities to maintain current portfolio equity exposures, while simultaneously allowing them to enjoy the benefits of their tax-exempt status fully without creating concerns for UBTI.

SEC Rule 22e-4

Mutual Fund Liquidity: Qualitative Considerations for SEC Rule 22e-4

2017

Liquidity Risk Management Plan Protocol

2017

With its deep expertise in the management of concentrated equity positions and transaction cost analysis, Additive provided its thoughts and illustrative implementation protocol in the leadup to SEC Rule 22e-4, commonly known as mutual fund liquidity.

Customized Solutions

Covered Call Writing: Superior Risk-Adjusted Returns to Traditional Equity Portfolios Via an Overwrite Overlay

2016

Additive undertook a study and simulation of a variety of fund managers’ returns and simulated/imagined what the effect of return and volatility would have been had those managers employed a rules based covered call overwrite strategy.

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Insights

Get In Touch

Additive Advisory PBC
6075 Poplar Ave, Suite 221
Memphis, TN 38119

E: info@additivepbc.com
P: (901) 498-6655
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