Asset Manager

Updated:

GS Gamma Advisors

Arvind Raman runs GS Gamma Advisors, a New York-based structured fixed-income boutique that partners with Global Atlantic on multi-billion dollar mandates.

GS Gamma Advisors

GS Gamma Advisors was established in New York as a structured fixed-income specialist. The firm is led by Chief Investment Officer Arvind Raman and Chief Operating Officer Ravi Kaza, both veteran portfolio managers whose prior experience includes senior roles at major financial institutions. The firm's founding thesis targets an underserved segment of institutional fixed-income management, pairing quantitative rigor with a specialized understanding of agency mortgage-backed securities. The firm deploys capital primarily across agency mortgage-backed securities, US Treasuries, and other government-guaranteed debt instruments. Its strategy is benchmark-relative and yield-focused, designed to serve insurance companies, public pension funds, and corporate treasuries that require high-quality liquid assets with precise duration matching. In September 2024, the firm entered a strategic partnership with Global Atlantic Financial Group, assuming sub-advisory duties on a multi-billion dollar general account mandate. The partnership expanded GS Gamma's assets under management significantly and established its footprint across the US institutional insurance channel. GS Gamma operates from a single office in New York, structuring its team to remain lean while accessing external strategic partners for distribution and operational leverage. The firm's reported alliance with Global Atlantic, a retirement and life insurance company backed by KKR, serves as its primary capacity-adjacent vehicle, granting the boutique embedded access to a permanent capital base. Industry records indicate the firm manages fewer than 10 investment professionals internally, with functions outsourced to its parent sponsor's ecosystem where possible. A defining structural feature is the firm's status as a certified Minority and Women-owned Business Enterprise. This designation, combined with a sub-advisory rather than fund-of-funds model, allows GS Gamma to access distinct pools of allocator capital designated for diverse managers while maintaining full investment autonomy over the portfolios it runs. The firm operates solely as a fixed-income manager and does not pursue alternatives, private credit, or equity strategies.

General information

Firm type

Asset Manager

Year founded

AUM

Undisclosed

Location

Region

North America

Country

United States

City

New York

Corporate office

New York, NY, United States

Principals

Arvind Raman

Chief Investment Officer

Ravi Kaza

Chief Operating Officer

Sector focus

Fixed IncomeStructured ProductsCredit

Frequently asked questions

Who makes the investment decisions at GS Gamma Advisors?

Arvind Raman serves as Chief Investment Officer and lead portfolio manager. He is supported by COO Ravi Kaza, with both principals overseeing day-to-day portfolio construction and risk management. The firm is organized such that the investment committee consists of the two named partners, ensuring flat, fast decision-making on mandate execution.

What does GS Gamma Advisors invest in?

The firm focuses exclusively on structured fixed-income assets, primarily agency mortgage-backed securities, US Treasury obligations, and other government-guaranteed bonds. It does not invest in corporate credit, equities, or alternative assets. The portfolio is constructed to match the liability profiles of institutional clients, chiefly insurance general accounts.

What is the relationship between GS Gamma Advisors and Global Atlantic?

Global Atlantic Financial Group, a retirement and life insurance company majority-owned by KKR, appointed GS Gamma as a sub-advisor for a portion of its general account assets in September 2024. The arrangement means GS Gamma manages a dedicated mandate of high-quality fixed-income securities on behalf of Global Atlantic's insurance balance sheet. GS Gamma remains an independent investment adviser and is not owned by Global Atlantic.

Is GS Gamma Advisors a minority-owned firm?

Yes. GS Gamma is certified as a Minority and Women-owned Business Enterprise. This certification influences the composition of its client base, as a number of institutional allocators maintain dedicated emerging- and diverse-manager programs that GS Gamma qualifies for. The designation applies to the ownership structure of the investment adviser, not to the characteristics of the assets it manages.

Does GS Gamma participate in fund commitments or direct deals?

No. The firm does not manage commingled funds or participate in direct corporate investments. It operates entirely through separately managed accounts on a sub-advisory or discretionary basis. Each client portfolio is customized to the specific yield and duration targets of the institution's balance sheet.

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