# Variant Investments

Variant Investments is a RIA based in Portland, United States.

## Overview

- **Organization type:** RIA
- **Headquarters:** Portland, United States
- **Region:** North America
- **Address:** Portland, OR, United States
- **Founded:** 2018
- **Assets under management:** $2.6B (per firm website, 2025)
- **Website:** variantinvestments.com
- **LinkedIn:** https://www.linkedin.com/company/variant-investments-llc

## Regulatory record

- **CRD number:** 289261
- **SEC file number:** 801-113357
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/289261

## About

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.

## Sectors

- Private Credit
- Alternative Income
- Emerging Markets
- Sustainable Finance
- ClimateTech
- FinTech

## Offices

- New York
- Amsterdam
- Belgrade
- Stockholm

## People

- 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

## 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.

## Related profiles

- [ITC Holdings Corp.](https://altss.com/profile/itc-holdings-corp)
- [MiTAC International Corp.](https://altss.com/profile/mitac-international-corp)

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Last updated: 2026-06-03T20:00:00.000Z

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