Updated:
New Street Research
New Street Research was founded as an independent research boutique serving institutional investors globally. Its partnership structure draws analysts from...
New Street Research
New Street Research was founded as an independent research boutique serving institutional investors globally. Its partnership structure draws analysts from outside the sell-side funnel, recruiting practitioners from policy, engineering, and consulting to build what the firm describes as uncommon insight across TMT. Chairman Iain M Johnston anchors the senior leadership. The firm organizes its output around five sector verticals: communications services, technology infrastructure, internet, policy and regulation, and space. Coverage spans the US, Europe, and Asia, with named leads that include James Ratzer for communications services in Europe and space broadband, David Barden for US communications services and space direct-to-cell, Dan Salmon for US internet, Jin Yoon for Asia internet, and Blair Levin for US policy and regulation. Where public data sets fall short, the partnership commissions proprietary data that feeds the research — an operating choice that self-selects for fund managers comfortable paying for differentiated work rather than consensus notes. New Street Research runs a lean operational core with Iain M Johnston as chairman, Steven Alexander leading strategy and operations, and Brian Nash serving as CFO. The firm maintains a presence in London with additional office support in Singapore, as inferred from a named office manager in that city. While the firm does not disclose a headcount, its website lists over 30 named professionals across research and sales, and its client-facing sales team fields dedicated coverage for the US and Europe. Structurally, the firm is an independent partnership unaffiliated with any bank, trading desk, or asset gatherer. That independence means its research revenue derives entirely from institutional client subscriptions, aligning incentives toward investment-relevant calls rather than corporate-access facilitation or volume-driven trading commissions. The model mirrors a handful of other research-only partnerships that compete with bulge-bracket TMT franchises by concentrating on a narrow set of sectors where depth, not breadth, drives allocator conviction.
General information
Firm type
Bank / Wealth / Trust
Year founded
2015
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Iain M Johnston
Chairman
Pierre Ferragu
Technology Infrastructure and Space Technology & Launch
James Ratzer
Communications Services Europe and Space Broadband
Blair Levin
US Policy & Regulation
Dan Salmon
US Internet
Sector focus
Frequently asked questions
Who runs the research output at New Street Research?
The research bench is led by senior analysts who head distinct verticals. Pierre Ferragu leads coverage of technology infrastructure and space technology & launch. James Ratzer runs European communications services and space broadband. Dan Salmon and Jin Yoon cover US and Asian internet, while Blair Levin anchors policy and regulation. The firm's partnership model means no single CIO sets the agenda; instead, vertical leads operate with substantial autonomy.
How does New Street Research source its investment ideas?
The firm signals that it commissions proprietary data sets when public information is insufficient, and it recruits analysts from engineering, consulting, and policy rather than relying only on sell-side-trained researchers. This sourcing model is designed to surface insights that consensus-focused competitors miss. The partnership also invests in cross-sector collaboration, anticipating how TMT themes propagate from one vertical to another.
Does New Street Research manage money or operate as an asset owner?
No. New Street Research is an independent research provider that sells its analysis and data to professional investment institutions. It does not disclose any proprietary capital allocation, fund management, or wealth-origin structure. The firm's revenue depends solely on institutional client subscriptions, not on trading commissions or investment returns.
What sectors does New Street Research explicitly not cover?
The firm's public-facing materials describe exclusive focus on TMT, organized into five verticals: communications services, technology infrastructure, internet, policy & regulation, and space. It does not claim expertise in sectors outside that perimeter—such as healthcare, energy, or financials—and its resource concentration on a narrow set of issues implies it intentionally avoids diluting its research budget across other industries.
Is New Street Research affiliated with a bank or brokerage?
The firm consistently describes itself as an independent partnership. It is not listed as a division of any bank, does not offer trading execution, and does not bundle research with corporate-access or banking services. This structural independence is core to its commercial pitch: research paid for solely by the buy-side, free of investment-banking conflicts.
Which geographies does New Street Research actively cover?
Named research coverage spans the US, Europe, and Asia. The communications services and internet verticals include dedicated analysts for the US, Europe, and Asia. The policy and regulation vertical is led by a US-based analyst, while the space coverage is embedded in the technology infrastructure and communications services teams, with US and European leads identified on the firm's team page.
How is New Street Research's space coverage integrated into its broader TMT research?
Space is not siloed as a stand-alone team but is woven into the communications services and technology infrastructure verticals. Analysts like James Ratzer (European communications services) cover space broadband, David Barden (US communications services) covers space direct-to-cell, and Pierre Ferragu covers space technology & launch alongside his technology infrastructure mandate. The firm markets this integration as capturing how space business models intersect with terrestrial telecom and internet infrastructure.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on registered investment advisers?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: