ADAGE CAPITAL PARTNERS GP LLC Profile
Adage Capital Partners is a hedge fund that was founded in 2001 by Robert, Phil Gross, and others that were all formerly with the Harvard Management Company and is currently based in Boston, Massachusetts. As the hedge fund, the company’s primary clients are mostly pooled investment vehicles, which Adage Capital Partners services in launching and managing hedge funds. Adage Capital Partners focuses on providing its clients with compounded annual returns that have a long term perspective, seeking to be able to outperform the returns of the S&P 500 Index. The company utilizes a fundamental analysis with a focus on intra industry company evaluation strategies in order to make its investment decisions, making primary in house research one of the central components of Adage Capital Partner’s investment philosophy. With this strategy, the company’s top equity holdings include Apple, Honeywell International, Exxon Mobil, Phillip Morris International, General Electric, Potash Corp, Coca Cola, Chevron, International Business Machines (IBM), and Microsoft, listed in order of decreasing fund allocations. The company has sector focuses on health care, information technology, consumer discretionary, and finance as its main allocations, although its complete line of investments is very diverse. Adage Capital Partners, along with related Adage companies under the group company umbrella such as Adage Capital Management, is one of the most secretive hedge funds in the industry, avoiding public inquiries and most media. The company currently manages over $48 billion in total regulatory assets under management and has approximately $41 billion funds allocated to various positions, or around 85% of the hedge fund manager’s total assets under management. Although the company did suffer a 38% loss from the 2008 financial crisis, Adage Capital Partners bounced right back the following year with 41% positive gains and has gotten back on track with consistent growth. The aforementioned co-founders Phillip Gross and Robert Atchinson are still with the company and remain as managing directors and portfolio managers for Adage Capital Partners.