Four Iron Management

Overview

Kevin Murphy established Four Iron Management in 2001, originating the firm as an outsourced CIO platform targeting ultra-high-net-worth families and select institutional investors. The firm is headquartered in Dallas, Texas, and operates as a registered investment advisor. Four Iron Management allocates across private credit, real estate, infrastructure, and hedge fund strategies, with a focus on direct co-investments alongside fund commitments. Publicly identifiable positions include investments in real estate debt and energy infrastructure in the US and select European markets. The firm targets long-term capital preservation with inflation-adjusted returns. The firm maintains a lean investment team and supplements internal sourcing with external manager relationships. Murphy and President Brad Adams lead decision-making. The firm does not disclose AUM but is estimated to manage between $1B and $5B based on known deal activity and staffing. Four Iron Management differentiates through its outsourced CIO model for a concentrated client base — offering direct allocation and co-investment access typically reserved for larger institutions, while maintaining the flexibility of a smaller, partner-led firm.