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Clough Capital Partners
Clough Capital Partners, founded by former Merrill Lynch strategist Chuck Clough in 1999, manages $1.4B in actively managed ETFs, closed-end funds, and...
Clough Capital Partners
Clough Capital Partners is a Boston-based boutique asset manager founded in September 1999 by Charles I. "Chuck" Clough, Jr., who had spent the prior 12 years as Merrill Lynch's Chief Global Investment Strategist. The firm launched its flagship hedge fund and SMA products in March 2000. The firm runs concentrated, actively managed long/short equity portfolios. Asset-class offerings include three closed-end funds listed on the NYSE (Clough Global Dividend and Income Fund, Clough Global Equity Fund, and Clough Global Opportunities Fund) and two actively managed ETFs (CBSE and CBLS), which originally launched under Changebridge Capital and came under Clough Capital's advisory in August 2023. The firm also manages separately managed accounts and limited partnerships. Holdings span global equities across sectors; the firm's investment team periodically appears on CNBC and Schwab Network. Geographic focus is primarily US and developed markets. Clough Capital reports $1.4B in assets under management on its website (as of 2026). The firm employs a 12-person team, including Portfolio Managers Vince Lorusso and Bill Whelan, who joined as co-PM of the closed-end funds in 2023. Lorusso returned to Clough in 2023 after having co-founded Changebridge Capital in 2020; he also serves as CEO. The firm maintains a Denver office at 1700 Broadway, Suite 2100, alongside its Boston headquarters. August 2023: Clough Capital became adviser to the CBSE and CBLS ETFs, bringing their active strategies under the Clough umbrella. A structural differentiator is Clough Capital's lineage: founded by a Wall Street strategist who shaped institutional thinking at Merrill Lynch, the firm has remained entirely independently owned and operated for over 25 years, with no outside capital or corporate parentage. The team's average tenure of 13 years and the founder's continued role as CIO underscore a governance model built around long-term continuity rather than succession-driven turnover.
General information
Firm type
Asset Manager
Year founded
1999
AUM
$1.4B (per firm website, 2026)
Location
Region
North America
Country
United States
City
Boston
Corporate office
53 State Street, 27th Floor, Boston, MA 02109, United States
Additional offices
1700 Broadway, Suite 2100, Denver, CO 80290
Principals
Charles I. Clough, Jr.
Chairman and CIO
Vincent M. Lorusso, Jr.
CEO and Portfolio Manager
William G. Whelan
Partner & Portfolio Manager
Sector focus
Frequently asked questions
Who runs portfolio management at Clough Capital?
Chairman and CIO Chuck Clough sets the macro framework. Day-to-day portfolio management is led by Vince Lorusso (CEO and Portfolio Manager) and Bill Whelan (Partner & Portfolio Manager). Lorusso was a co-founder of Changebridge Capital and returned to Clough in 2023; Whelan joined in 2014 and was named co-PM of the closed-end funds in 2023.
How does Clough Capital source its investment ideas?
The firm employs fundamental, bottom-up research with a long/short equity orientation. The investment team — which VInce Lorusso has described as 'active, never passive' — seeks to identify mispriced securities across global markets, drawing on Chuck Clough's macroeconomic perspective and the analysts' sector expertise. The firm does not rely on quantitative models or third-party research providers.
Does Clough Capital accept outside capital beyond its listed funds?
Yes. In addition to the five NYSE-listed closed-end funds and ETFs, Clough Capital manages separately managed accounts and limited partnerships for individual and institutional clients. The firm's website describes a 'client-first' approach that offers direct access to portfolio managers.
What is the relationship between Clough Capital and Changebridge Capital?
Changebridge Capital was co-founded by Vince Lorusso in 2020. Its two ETFs — CBSE and CBLS — listed on the NYSE in November 2020. In August 2023, Clough Capital became the adviser to those ETFs, and Lorusso rejoined Clough as CEO and Portfolio Manager. The ETFs now operate under Clough Capital's advisory umbrella.
What investment stages does Clough Capital focus on?
The firm is primarily an active equity manager investing in publicly traded securities — large-cap and mid-cap equities. It does not target venture-stage or private equity opportunities. Its closed-end funds and ETFs invest across global equity markets, with a long/short strategy designed to generate returns regardless of market direction.
Where does the underlying wealth behind Clough Capital come from?
The firm is not a family office; it is an independent asset manager founded by Chuck Clough, who built his career at Merrill Lynch, Cowen, and other institutional firms. There is no single-family fortune backing the firm — its capital comes from clients invested in its funds and managed accounts.
Does Clough Capital maintain any philanthropic foundations?
Chuck Clough serves on the boards of several medical, educational, and charitable institutions, including Boston College, and is an ordained permanent deacon in the Roman Catholic Archdiocese of Boston. The firm itself does not disclose a corporate foundation or charitable vehicle.
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