NEW YORK & OAKLAND, Calif.--(BUSINESS WIRE)--Blaylock Beal Van, LLC (“BBV”) announced today that SPI Strategies, LLC (“SPI”), the firm’s registered investment advisory subsidiary, has been tapped by the Municipal Employees’ Retirement System (“MERS”) of Michigan to manage up to $300 million in an alternatives strategy designed to outperform the S&P 500 while minimizing downside risk and volatility.
SPI’s Long Alpha Plus strategy was developed by Steven Singleton, BBV’s Executive Vice President and Director of Equities, using the firm’s ELROI® research analytics platform. ELROI (Electronic Review of Investments), which Mr. Singleton also developed, allows institutional clients to identify key factors that impact stock price and portfolio performance, in turn allowing for the creation and testing of portfolio strategies. MERS of Michigan, a BBV client for more than six years, conducted an extensive examination of SPI’s Long Alpha Plus strategy and was very encouraged with the back-tested results.
“ELROI was way ahead of its time,” said Eric Van Standifer, BBV’s President and CEO. “While most quality money managers today have come to appreciate the critical correlation between analytical data and investment performance, Steven Singleton had the foresight and vision to appreciate the importance more than a decade ago. MERS of Michigan has known Steven for years, and we are delighted they have agreed to further utilize his market knowledge and expertise.”
“We are heavy users of ELROI and know first hand the breadth and depth of its quantitative capabilities,” said Jeb Burns, MERS of Michigan’s Chief Investment Officer. “We also have developed a close working relationship with Blaylock Beal Van and know the quality and integrity of its people. It’s been a true partnership, and we are excited to seed the launch of its Long Alpha Plus fund because we believe in the product.”
ABOUT BLAYLOCK BEAL VAN, LLC
Blaylock Beal Van, LLC (“BBV”) is a full service investment banking company providing corporate debt and equity underwriting, research, sales and trading, and municipal finance services to a blue chip client roster consisting of America’s largest and most innovative corporations, financial institutions, municipalities, and high net worth clients. With principal offices in New York City and Oakland, CA, and an office in Chicago, BBV provides seasoned experience and technologically advanced capabilities valued by its long-standing clients.
BBV is the nation’s oldest continuously operated African American-owned investment bank.
ABOUT SPI STRATEGIES, LLC
SPI Strategies, LLC is a quantitative equity manager deploying “robo-inspired” portfolios for institutional and retail investors. Through the use of our proprietary platform, ELROI®, we model active and alternative strategies blending fundamental, technical and quantitative factors to address the various style/sector/size/directional components of the domestic US Equity market.
SPI’s President is Eric Standifer. SPI’s Chairman is Carlton Martin. Mr. Martin, an industry consultant, previously was a Managing Director and Senior Portfolio Manager at TIAA from 1980 to 2004. Mr. Singleton is SPI’s Chief Investment Officer.
ABOUT MUNICIPAL EMPLOYEES’ RETIREMENT SYSTEM OF MICHIGAN
MERS of Michigan is a public nonprofit organization serving municipalities and their employees all across the state. The organization, which manages more than $9 billion in assets, has 800 members and 100,000 participants.