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Foster Holdings
Foster Holdings is an SEC-registered investment adviser in West Des Moines, IA, registered since 1991. The firm manages $4.8 billion in assets, with $4.6...
Foster Holdings
Foster Holdings is an SEC-registered investment adviser in West Des Moines, IA, registered since 1991. The firm manages $4.8 billion in assets, with $4.6 billion managed on a discretionary basis. It has 93 employees and 45 investment advisers.
General information
Firm type
Single Family Office
Year founded
1991
Location
Region
North America
Country
United States
City
West Des Moines
Corporate office
681 Andersen Drive, Suite 300, Pittsburgh, PA 15220, United States
Principals
Lee B. Foster II
Chairman
David Martin
President
Bryn Monahan
Board Director
Mary Galeti
Board Director
Sector focus
Frequently asked questions
How is Foster Holdings related to L.B. Foster Company?
L.B. Foster Company was founded in 1902 by the namesake Lee B. Foster and went public on NASDAQ in 1969. Foster Holdings is the family office that manages wealth generated by the Foster family's ownership stake in the company, along with other family operating businesses and real estate holdings. Chairman Lee B. Foster II is a direct descendant of the founder.
Does Foster Holdings maintain philanthropic structures, and how are they separated?
Yes—the family operates at least two charitable vehicles: the Foster Charitable Trust and the Tecovas Foundation. Mary Galeti, a fourth-generation board director at Foster Holdings, serves as Executive Director of the Tecovas Foundation. The foundation operates as a separate grantmaking entity from the family office's investment activities.
How does Foster Holdings source its investment opportunities?
Foster Holdings does not publicly disclose its sourcing model, but the firm's peer-network memberships provide structural clues. Bryn Monahan serves on the advisory board of the Southeastern Family Office Forum and the family participates actively in the Family Office Exchange and Family Firm Institute—networks that commonly facilitate co-investment and direct-deal sharing among family offices.
Is Foster Holdings structured as a single family office or does it operate more like a holding company?
Foster Holdings blurs the line between both models. President David Martin chairs multiple family operating businesses while simultaneously running the family office, and the family owns commercial real estate including the Foster Holdings Headquarters building in Pittsburgh. This embedded architecture—where the family office is not walled off from the operating companies—more closely resembles a hybrid family holding structure than a pure investment office.
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