Trust Asset Management LLC

Trust Asset Management provides discretionary investment management primarily to statutory trusts maintained by its parent NorthStar and to institutional separately managed accounts, and acts as manager and adviser to several private pooled vehicles including the Lighthouse Balanced Fund, Lighthouse Stable Growth Fund, Lighthouse Private Credit Opportunity Fund and the Axys Funds. The firm reports roughly $3.2 billion in regulatory assets under management and does not list individual retail clients among its client base.

Investment decisions are made by an Investment Committee and implemented across a broad set of public and private asset categories—equities, fixed income, private equity, private debt, real estate, energy interests and participation interests—consistent with each client’s investment policy statement. The firm discloses use of leverage and hedging techniques and explicitly uses derivatives and borrowing in separately managed accounts, and may allocate client assets into its proprietary private funds or third‑party funds.

Compared with many peers, TAM combines substantial pooled‑vehicle management and performance fee arrangements with a small advisory team and a client mix that includes corporate or business‑related trusts tied to its parent, which the brochure identifies as creating potential side‑by‑side allocation and fee conflicts addressed by allocation policies and trustee consent procedures. The firm also operates through a prime brokerage relationship and soft‑dollar arrangements to support execution and research, as disclosed in the brochure.