Alden Investment Group, at about $300 million in assets under management, is expecting to add as many as three teams a quarter for the foreseeable future.

As a deal-heavy year comes to a close for $300 million hybrid RIA Alden Investment Group, the Jenkintown, Penn.-based firm is poised to more than triple its assets under management over the next 6 to 10 months.

John Mulqueen, Alden’s chief operating officer, said the firm has about $1 billion worth of assets under management in its deal pipeline. He said Alden plans to add as many as three teams a quarter for the foreseeable future.

The firm recently brought on board Kings Management Company, a Bellmawr, N.J.-based boutique financial firm generating about $500,000 in broker dealer revenue. It also recruited a $100 million team from Merrill Lynch based in New York City.

‘We’re very flexible in how we work with our advisors,’ Mulqueen said. ‘If they want to join us just on the RIA side or just on the broker dealer side, or they want to have their own RIA and join the broker dealer, we’re pretty agnostic to all of that.

Alden also recently added New York City-based Old Greenwich Capital Partners to bolster the firm’s offerings of direct investment opportunities in the secondary and co-investment marketplace. Old Greenwich, an alternative asset manager founded in 2005, offers institutional and individual investors ‘a la carte’ access to proprietary and multi-asset class deals sourced from independent sponsors, private equity, venture capital, hedge fund and real estate managers.

‘We are seeing increased demand on both the issuer and purchaser sides of these trades,’ said Alden’s chief executive, Lee Calfo. ‘We plan to continue to build the firm’s capabilities and relationships in this area to enhance our presence in this market and our ability to complete these transactions.’

Mulqueen said the firm this summer added a third person to its operations team in order to help with onboarding and that it plans to add a fourth by winter of next year.

So far, Alden has concentrated its growth toward in the Northeast, particularly Philadelphia, New York and Connecticut.

‘We’re also in talks with an RIA team out in the Northwest as well as in Los Angeles,’ Mulqueen said, adding the firm already has a small team in Los Angeles.

Media Contact: John Mulqueen

John Mulqueen has over ten years of experience in the investment industry having worked in a variety of roles. Most recently, he worked at Bluestone Capital Management as Director of Asset Management. Before Bluestone, John worked at Vanguard as an associate on Vanguard’s Fixed Income and Derivatives pricing team. Prior to Vanguard, John was a Junior Analyst on State Street’s portfolio solutions team based in London and an equity and fixed income trade support analyst at MFS Investments.

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