New Amsterdam Partners

New Amsterdam Partners

Michelle Clayman founded New Amsterdam Partners in 1986, a period when women-led investment firms were a statistical rarity. The firm established itself as a quantitative equity manager for institutional clients, including public pension funds, endowments, and foundations. Clayman, an Oxford graduate and former Wall Street analyst, brought a disciplined, factor-based lens to US equity markets well before the 'smart beta' terminology existed. New Amsterdam Partners runs concentrated equity portfolios, with a documented focus on mid- and small-capitalization US stocks. The investment process combines quantitative screening with fundamental review, targeting undervalued companies with improving business momentum. The firm's track record includes managing separate accounts and a commingled vehicle for institutional investors. Observable portfolio holdings from regulatory filings have historically included names in the industrial, financial services, and technology sectors, consistent with a multi-factor value-oriented mandate. Clayman has been a visible industry voice on governance and diversity, serving on advisory boards and contributing to the CFA Institute's curriculum. The firm's leadership has been stable across decades, with Clayman retaining the CIO role. In recent years, the firm has continued to service existing institutional relationships while maintaining a deliberately boutique scale. Philanthropic activity centers on educational access and professional development for women in finance. New Amsterdam Partners stands apart structurally as an independent, founder-led firm that never sold to a consolidator — unusual for a boutique that came of age in the 1990s era of roll-ups. The firm's longevity without a permanent capital vehicle or a multi-asset expansion is a quiet differentiator, reflecting a concentration on a single strategy executed with low turnover and a stable team.