Merion Square Capital LLC (Austin)

Merion Square Capital LLC is a large advisory firm based in Austin. It manages $150.75 million of regulatory assets for 3 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Pennsylvania and Texas.

Merion Square Capital provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Merion Square Capital: assets under management

The assets under management (AUM) of Merion Square Capital LLC is $150.75 million, all of which is managed in discretionary accounts. $150.75 million of the total AUM is attributable to clients outside of the United States.

The firm manages $150.75 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $50.25 million each.

Merion Square Capital has custody of $22.25 million in cash and securities for 3 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Merion Square Capital LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Richard Erik Charles Pennay serves?

The only and largest group of clients of Richard Erik Charles Pennay is pooled investment vehicles with 3 clients and $150.75 million of assets under management. Among the 12 most similar advisory firms, Merion Square Capital has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $150.75 million for 3 clients. 67% of the firm’s clients are foreign persons or businesses.

Merion Square Capital also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Merion Square Capital LLC

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Richard Erik Charles Pennay has been acting as President since 1 Nov 2018. Stephen Allan Kirkwood joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Merion Square Capital Gp	Managing member	1 Nov 2018	75% - 100%	98-1456816
Stefano Sola	Chief executive officer	1 Nov 2018	Other	4697855
Richard Erik Charles Pennay	President	1 Nov 2018	Other	5475857
Christopher Scot Munson	Chief financial officer	1 Nov 2018	Other	6353492
Stephen Allan Kirkwood	Chief compliance officer	1 Feb 2019	Other	7077670

Indirect Owners

The SEC currently registers 9 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Av Partners X Llc	General partner	1 Jul 2008	Other	26-3359723
Av Partners X Lp	General partner	1 Sep 2008	Other	26-3359843
Vida Capital Llc	Shareholder	1 Jun 2009	50% - 75%	27-0440497
Austin Ventures X Lp	Co-managing member	1 Jun 2009	75% - 100%	26-3359982
Stefano Sola	Member (class a)	1 Jun 2014	50% - 75%	4697855
Richard Erik Charles Pennay	Member (class a)	1 Jun 2014	50% - 75%	5475857
Jtc Longevity Investments Ltd.	Shareholder	1 Nov 2015	25% - 50%	foreign entity
Inc. Vida Capital	Co-managing member	1 Nov 2018	50% - 75%	27-0284263
Rewire Holdings Llc	Co-managing member	1 Nov 2018	50% - 75%	47-1048619

Based in Austin

The principal office where Merion Square Capital LLC performs its advisory services is located at 835 W. 6 Th Street, Austin, TX 78703, which is also the mailing address of the firm. An additional office of the firm is in Ardmore, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (512) 961-8265. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday.