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First Manhattan
Zachary Wydra leads First Manhattan, the New York investment advisory that runs separately managed portfolios backed by six decades of independent...
First Manhattan
First Manhattan is an SEC-registered investment adviser in NEW YORK, NY, since 1977. The firm manages $38.1 billion in assets, $35.7 billion on a discretionary basis. It has 147 employees and 51 investment advisers.
General information
Firm type
Private Equity
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
399 Park Avenue, New York, NY 10022
Additional offices
Greenwich, CT, United States
Principals
Zachary A. Wydra
Chief Executive Officer, Partner, Portfolio Manager
Robert W. Gottesman
Executive Chairman, Partner, Portfolio Manager
Alvaro Spinola
Chief Financial Officer, Chief Operating Officer
Himayani Puri
Partner, Portfolio Manager, Head of Research
Sharon Appelman
Senior Managing Director, Wealth Advisor, Co-Head of Wealth Planning
Christopher Dende
Managing Director, Wealth Advisor, Co-Head of Wealth Planning
Sector focus
Frequently asked questions
Who runs investment decisions at First Manhattan?
Portfolio management is distributed across a partnership of portfolio managers. Himayani Puri serves as Head of Research, overseeing the independent research foundation that informs investment choices. Individual portfolio managers construct and manage client portfolios directly, with no central CIO making allocation decisions across all accounts.
Is First Manhattan structured as a family office or a traditional asset manager?
First Manhattan is an employee-owned investment advisory firm, not a single-family office. It serves multiple clients through separately managed portfolios and wealth planning services. The partnership model includes 23 partners, and ownership is spread across the firm rather than tied to a single family's wealth.
Does First Manhattan offer pooled funds or only separately managed accounts?
The firm emphasizes separately managed portfolios, with each client at the center of the investment process. There is no mention of commingled mutual funds or pooled private funds on its public materials. The structure is designed for direct ownership of securities by the client.
What wealth planning services does First Manhattan provide?
The wealth planning group, co-headed by Sharon Appelman and Christopher Dende, offers estate planning, trust services, and a comprehensive view of a client's financial picture. The firm employs professionals with CFP, JD, and LL.M. credentials and has a dedicated Head of Trusts & Estates, Jennifer McCarthy.
What is First Manhattan's known posture on private investments?
The firm's primary disclosed strategy is long-term investing in public securities through its research-driven process. It does not publicly detail any private equity or venture capital allocation. Any private investment exposure would likely be managed on a case-by-case basis within individual separately managed accounts.
Where does First Manhattan operate?
The firm operates from its headquarters at 399 Park Avenue in New York and maintains an additional office at 80 Field Point Road in Greenwich, Connecticut. Physical mail is only accepted at the New York location.
How is First Manhattan's research team structured?
The research team is led by Himayani Puri, a partner and portfolio manager. The team includes managing directors and directors listed as research analysts on the firm's website. The firm describes its research as rigorous and independent, forming the foundation of all investment decision-making.
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