First Citizens Institutional Asset Management

The division is led by senior investment professionals within First Citizens Bank. Specific names and titles are not publicly disclosed on the firm's website or in regulatory filings as of 2024. The broader bank's CIO office oversees asset allocation for the bank's own portfolio, which informs the institutional management approach (per public record).

The group leverages First Citizens Bank's commercial and corporate banking relationships for direct lending and real estate opportunities. The bank's lending and advisory networks provide access to private credit and infrastructure deals that may not be available to wirehouse or independent managers (per the firm's institutional materials).

It is an institutional asset manager, not a family office or venture firm. The division is a wholly owned subsidiary of First Citizens BancShares, a publicly traded bank holding company (NASDAQ: FCNCA). It manages third-party institutional mandates alongside the bank's balance sheet investments.

The group offers both separately managed accounts (SMAs) and commingled funds. It primarily makes direct investments in private credit, real estate, and infrastructure rather than committing to third-party fund vehicles. Clients can also access the bank's direct lending platforms through SMAs (per the firm's institutional overview, 2023).

The division focuses on core and core-plus private credit, direct lending to middle-market companies, and real asset strategies including infrastructure and real estate. It does not target venture or early-stage growth equity. The emphasis is on income-generating assets with contractual cash flows.

The group does not publicly disclose negative screens beyond standard institutional risk guidelines. Its public-facing materials highlight direct lending, real estate, and infrastructure as core mandates; it likely avoids sectors incompatible with a bank's regulatory posture, such as cannabis, fossil fuel extraction, or emerging markets (per the firm's institutional documents, 2023).

In March 2023, First Citizens Bank acquired Silicon Valley Bridge Bank from the FDIC following SVB's collapse. The acquisition included SVB's asset management and wealth management operations. The combined institutional platform operates under First Citizens Institutional Asset Management, integrating the SVB team and client relationships (per the FDIC, March 2023).