New Holland Capital

Investment decisions are led by the partnership group. Scott Radke, who spun the firm out of ING in 2006, serves as CEO and retains final authority over portfolio construction. Bill Luo oversees the portfolio advisory function that expanded into private markets in 2022, while Jason Rosenbluth runs the quantitative strategies team that supplies proprietary risk models to underwrite managers. The partnership structure means no external parent can override allocation decisions.

The firm competes for manager access through its quantitative research capability, not transaction volume. Rosenbluth's team builds factor models, style drift monitors and liquidity stress tests that let New Holland evaluate managers that many institutional peers lack the tools to underwrite. That internal analytics function opens doors with capacity-constrained managers who prefer sophisticated, sticky capital over hot money. The firm also uses its separately managed account structure to negotiate bespoke fee terms and transparency rights that commingled vehicles cannot demand.

It operates primarily as a multi-manager allocator, constructing portfolios of external hedge funds and private credit vehicles within separately managed accounts. However, it layers direct co-investments and secondary purchases alongside fund commitments, particularly in private credit and structured finance. The firm does not issue its own commingled products — every client gets a dedicated account, which blurs the line between an outsourced chief investment officer and a traditional fund-of-funds.

The firm spans the liquidity spectrum. Its core hedge fund allocations — long/short equity, macro, relative value and event-driven — provide monthly or quarterly liquidity. Opportunistic allocations to private credit, structured finance and real asset vehicles introduce semi-liquid and lock-up profiles. The portfolio advisory expansion in 2022 signals a deliberate push deeper into illiquid partnership monitoring, but the firm's structural tilt remains toward manager selection rather than principal investing.

Most institutional hedge fund allocators sit inside larger financial conglomerates — banks, insurers or consulting firms — where investment committee decisions can be overridden by a parent's balance-sheet concerns or distribution priorities. New Holland separated entirely from ING in 2006 and remains partner-owned. That independence matters when negotiating bespoke mandates, avoiding conflicts of interest with proprietary products, and retaining senior talent without parent-company compensation caps.

No publicly disclosed philanthropic foundation or affiliated operating company is connected to the partnership. The firm's corporate structure appears limited to its investment management entity in New York, with no disclosed charitable trust, family office arm or captive advisory subsidiary beyond the 2022 portfolio advisory platform expansion.

The firm executes selective co-investments, particularly in private credit and structured credit transactions where its manager relationships surface deal flow. Rather than committing pre-defined co-invest pools, it evaluates transactions deal-by-deal through separately managed accounts, giving each client the right to opt in or out. This contrasts with blind-pool co-investment vehicles that pre-commit capital before deal specifics are known.