Accolade Partners has closed its fourth fund of funds on $150 million and promoted Atul Rustgi to partner and Andy Salembier to chief operating officer. The firm’s third fund closed in 2008. Accolade provides access to endowments, foundations, institutions and individuals to growth equity and venture capital funds.
Accolade Partners, a boutique alternative investment management firm which provides endowments, foundations, institutions and individuals with a smarter way to leverage the power of venture capital, today announced it has raised $150 million for its fourth fund of funds, Accolade Partners IV. Accolade also announced the promotion of Atul Rustgi to Partner and Andy Salembier to Chief Operating Officer. With the close of this fund, Accolade continues its differentiated approach to providing investors with access to leading venture capital and growth equity managers. The firm’s previous fund closed in 2008. Accolade was founded in 2000 and manages over $515 million across four funds.
“We are excited, and grateful for the support and interest we received from a group of high quality limited partners. Investors have a strong appetite for the outsized performance that they can achieve from investing in venture capital and growth equity, but they have also learned the importance of manager selection and portfolio construction. With our rigorous diligence and superior access, we can help them reap the benefits of the asset class,” said Joelle Kayden, Managing Partner. She added, “This was also a great time for us to invest in the firm’s future by promoting Atul and Andy, two critical members of our team. Atul adds a distinct viewpoint, smarts and a great network to our investing efforts. Andy is focused on ensuring that our investors can count on us for superior investment performance, and world class operations and service.”
Accolade’s strong returns have been driven by the firm’s deep knowledge and access to top-decile managers. Independent thinking and thoughtful portfolio construction are at the heart of Accolade’s approach. The firm has applied its “do not follow the herd” mentality to identify managers at their inflection points and to be a contrarian, avoiding sectors like cleantech when it was in favor. Accolade is focused on constructing a concentrated portfolio of approximately 15 U.S. funds. Preqin and Pitchbook rank Accolade’s 2005 fund as the top performing fund of funds of its vintage.
“I am pleased to be able to contribute at an even higher level to what we do at Accolade. I have always considered myself an owner of the firm and am pleased to have been recognized for my contribution. With our independent focus and thoughtful portfolio construction, we are positioned to deliver superior returns for our investors. A lot of people say they commit to newer managers or that they re-underwrite all their decisions, but we actually do that, and are able to see opportunity where others cannot,” said Atul Rustgi, Partner.
Atul Rustgi joined Accolade in 2007. Previously, he was an Engagement Manager at McKinsey & Co. and a Program Officer at the Robinhood Foundation. He received his BBA from the University of Michigan and his MBA from Harvard University. As a Partner, he will continue his role of identifying and committing to managers, as well as helping to manage the firm’s client relationships. Andy Salembier joined Accolade in 2003. Previously, he had roles at both the Georgetown University Endowment and Cambridge Associates. He received his BA from the University of Virginia and his MBA from Georgetown University. As Accolade’s COO, he will oversee the firms operations, including reporting, compliance and due diligence, as well as investor relations.
About Accolade Partners
Accolade Partners is a leading alternative investment firm dedicated to delivering superior returns by investing in top-tier venture capital and growth equity funds on behalf of endowments, foundations, institutions and individuals. Founded in 2000 and located in Washington, DC, the firm manages over $500 million of capital and is a registered investment advisor. For more information, please visit www.accoladepartners.com