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Variant Investments
Variant Investments is an SEC-registered investment adviser in Portland, OR, registered since 2018. The firm manages approximately $2.8 billion in regulatory...
Variant Investments
Variant Investments is an SEC-registered investment adviser in Portland, OR, registered since 2018. The firm manages approximately $2.8 billion in regulatory assets. It has 33 employees and 29 investment advisers.
General information
Firm type
RIA
Year founded
2018
AUM
$2.6B (per firm website, 2025)
Location
Region
North America
Country
United States
City
Portland
Corporate office
Portland, OR, United States
Additional offices
New York · Amsterdam · Belgrade · Stockholm
Principals
Bob Elsasser
Principal and Co-Founder
Curt Fintel, CFA
Principal and Co-Founder
J.B. Hayes, CFA
Principal and Co-Founder
Kristi Combs
Chief Operating Officer
Brian Park
General Counsel
Sector focus
Frequently asked questions
Who runs investment decisions at Variant Investments?
Investment decisions are overseen by three co-founders — Bob Elsasser, Curt Fintel (CFA), and J.B. Hayes (CFA) — all of whom previously worked together at CTC | myCFO. Kristi Combs serves as COO. The investment team includes senior members like Karina Convers, who leads a portion of the firm's emerging markets holdings (per firm website, 2025).
Does Variant invest in traditional bonds or publicly traded equities?
No. Variant explicitly avoids conventional fixed income and public equities. Its focus is on 'unconventional income' — specialty finance, private credit, and alternative debt assets that are not accessible through public markets. The firm says it seeks income from 'private markets, uncorrelated alternatives and niche public markets.'
What is the Variant Impact Fund, and how does it integrate sustainability?
The Variant Impact Fund (IMPCX) is an interval fund that targets alternative credit exposures aligned with the United Nations Sustainable Development Goals. It invests in assets such as affordable housing loans, renewable energy finance, and community development credit, aiming to generate both financial returns and measurable social outcomes.
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