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Opal Advisors
Opal Advisors was launched in 2020 by Gregory Fleming and Stephen Molo, both formerly at Morgan Stanley, with founding partners who brought experience...
Opal Advisors
Opal Advisors was launched in 2020 by Gregory Fleming and Stephen Molo, both formerly at Morgan Stanley, with founding partners who brought experience from BlackRock, AIG, and other institutional asset managers. The firm operates as an outsourced investment office for a limited number of families, providing access to strategies typically reserved for large institutional allocators. The firm's investment strategy spans private credit (including direct lending and structured credit), real estate (both core and opportunistic), infrastructure, and special situations. It also has a dedicated energy transition and renewables practice. Opal sources deals through its principals' networks and often executes via co-investments alongside other family offices and institutional partners. Geographically, it focuses on North America and Western Europe. Opal's total assets under management are not publicly disclosed. The firm reports it has a lean team of investment professionals with deep industry expertise, and it maintains a single office in New York City. Adjacent structures include philanthropic advisory for client families, though no separate foundation has been named. In 2023, the firm raised a dedicated private credit vehicle targeting $1 billion, according to news reports. The firm's structural differentiator is its small, partnership-driven model that avoids the scale of a multi-family office platform. By limiting the number of client families and focusing on direct investments, Opal aims to align incentives more closely with its investors, unlike larger fund-of-funds or RIA aggregators.
General information
Firm type
Multi Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Sector focus
Frequently asked questions
Who runs investment decisions at Opal Advisors?
Opal Advisors is led by co-founders Gregory Fleming and Stephen Molo, along with a team of partners who previously held senior roles at Morgan Stanley, BlackRock, and AIG. Investment decisions are made by the partnership, which vets each deal through a committee process, according to public reports.
How does Opal Advisors source proprietary deal flow?
The firm leverages its founders' and partners' relationships built at major financial institutions to source direct opportunities, often in private credit and infrastructure. It also participates in club deals with other family offices and institutional co-investors, as referenced in industry coverage.
Is Opal Advisors structured as a single family office or multi-family office?
Opal operates as a multi-family office or outsourced investment office, managing capital for a select group of families. It does not serve a single family, distinguishing it from single-family offices like Cascade Investment or Soros Fund Management.
Does Opal Advisors make fund commitments or only direct investments?
Opal primarily pursues direct investments and co-investments but may also commit to fund vehicles in private credit and infrastructure when alignment is strong. Its model favors direct control and fee transparency, per industry reports.
What investment stages does Opal typically target?
The firm targets opportunities across the capital structure, with a focus on credit and real assets. It is agnostic as to stage but tends toward later-stage, yield-oriented investments in private credit and infrastructure, as well as opportunistic real estate.
Which sectors does Opal Advisors explicitly avoid?
Opal has not publicly disclosed explicit avoidance sectors, but it concentrates on credit, real estate, infrastructure, and energy transition. It likely avoids pure venture capital or early-stage tech given its focus on yield and asset-backed strategies.
How does Opal Advisors relate to Gregory Fleming and Stephen Molo's prior institutions?
Fleming and Molo were senior bankers at Morgan Stanley, where Fleming served as president of Morgan Stanley Smith Barney. They draw on those networks for deal flow, but Opal is an independent entity with no formal ties to Morgan Stanley, BlackRock, or AIG, per their communications.
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.
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