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Blue Waters Advisory Group
James D. Passin's Blue Waters Advisory Group invests his personal capital in frontier-market equities from a base in New York.
Blue Waters Advisory Group
BLUE WATERS ADVISORY GROUP, LLC is an SEC-registered investment adviser in AUSTIN, TX. The firm manages $98 million in assets, $95 million on a discretionary basis. It has 4 employees and 1 investment adviser.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Austin
Corporate office
New York, NY, United States
Principals
James D. Passin
Manager
Frequently asked questions
Who makes investment decisions at Blue Waters Advisory Group?
James D. Passin, the firm's manager and sole principal, makes all investment decisions. Passin built his career at Firebird Management, where he co-managed frontier-market funds focused on the former Soviet Union and Mongolia. He operates Blue Waters as an extension of his personal portfolio without a formal investment committee.
What markets and asset classes does Blue Waters target?
The firm concentrates on publicly traded equities in frontier and post-Soviet markets, including Mongolia, Ukraine, and Georgia. Passin has historically favored consumer-facing companies, financial services, and natural-resource plays. The firm does not appear to invest in private equity, venture capital, or real assets.
Does Blue Waters accept outside capital or invest alongside external GPs?
No. Blue Waters operates as a single-family office managing solely Passin's personal assets. It is not registered as an investment adviser and does not solicit, manage, or invest third-party capital. There is no record of club-deal participation or co-investment vehicles alongside external general partners.
How is Blue Waters Advisory Group related to Firebird Management?
James Passin was a manager and partner at Firebird Management for 17 years before forming Blue Waters to manage his own capital. The two entities share no ownership or operational structure, though Passin's investment style reflects the frontier-market discipline he developed at Firebird.
Where does the underlying wealth come from?
The wealth managed by Blue Waters originates from Passin's career as a fund manager at Firebird and his personal investments in frontier markets. No inherited wealth or external liquidity event has been publicly disclosed.
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