Illinois is home to a vibrant asset management sector, showcasing a variety of firms that focus on managing investments for clients ranging from individual retail investors to large institutions. These companies typically offer an array of services including mutual funds, private equity, fixed income, and wealth management strategies. With increasing interest in responsible and sustainable investing, many firms are adopting ESG principles as part of their strategies. The industry is growing steadily, driven by rising client demand for innovative investment solutions and tools that respond to ever-changing market conditions.

The asset management companies in Illinois vary in size and specialization, with a mix of established firms founded as early as the 1930s to newer entrants developed in the 2000s. Many are located in Chicago, a financial hub, while others have expanded to nearby suburbs like Oakbrook Terrace and Downers Grove. Companies range from small boutique firms to larger operations, offering services that include tailored investment strategies, mutual funds, and capital market insights. The focus on asset growth aligns with long-term financial objectives, resonating with an informed clientele seeking solid fiscal stewardship.

Continue reading to discover the prominent asset management companies in Illinois.

Top 20 Asset Management Companies in Illinois

1. Ariel Investments

• Website: arielinvestments.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 97%, Other 3%
• Latest funding: $1.4B, February 2023
• Founded year: 1983
• Headcount: 51-200
• LinkedIn: ariel-investments

Ariel Investments, based in Chicago, Illinois, is an investment management firm that has been active since 1983. The company specializes in managing assets for both individual and institutional investors, including pension plans and foundations. Ariel offers a variety of investment vehicles, such as separate accounts, mutual funds, and private equity services, with a particular emphasis on small and mid-cap stocks. The firm prides itself on its patient investment philosophy, which it refers to as "Active Patience®," believing that good outcomes take time and require diligent engagement. Ariel Investments has a strong commitment to environmental, social, and governance (ESG) principles, reflecting a modern approach to investment management. With a workforce of around 199 employees and a significant portion of its assets under management, Ariel continues to play a vital role in the investment community. The firm also recently secured $1.45 billion in funding, further solidifying its position in the market.

2. Harris | Oakmark

• Website: harrisassoc.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 1976
• Headcount: 51-200
• LinkedIn: harris-associates

Harris | Oakmark, based in Chicago, Illinois, is an investment management firm that specializes in value investing strategies. Established in 1976, the firm has built a reputation for its disciplined approach to identifying investment opportunities that are undervalued relative to their intrinsic worth. Harris Associates manages a range of investment vehicles, prominently featuring the Oakmark family of mutual funds. These funds are designed to meet the needs of various clients, including individuals, families, financial advisors, and institutional investors. The firm emphasizes a consistent investment philosophy, focusing on price, growth potential, and management quality. Their commitment to thorough research and client service has positioned them as a respected player in the asset management industry.

3. Loop Capital

• Website: loopcapital.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Latest funding: June 2021
• Founded year: 1997
• Headcount: 201-500
• LinkedIn: loop-capital-markets

Loop Capital, founded in 1997 and based in Chicago, Illinois, is a private investment bank and financial services firm. With a workforce of around 270 employees, the company specializes in a variety of services, including asset management, capital markets, and investment banking. Loop Capital is particularly known for its asset management division, which includes offerings like fixed income and infrastructure funds. The firm serves a wide range of clients, from individuals and families to corporations and government entities, helping them effectively manage and distribute capital. Their client-centric approach and commitment to integrity have earned them a solid reputation in the industry. Loop Capital has also been involved in significant financial transactions, acting as a senior manager for various bond offerings and public finance initiatives, showcasing their active engagement in the capital markets.

4. PPM America, Inc.

• Website: ppmamerica.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 1990
• Headcount: 201-500
• LinkedIn: ppm-america-inc-

PPM America, Inc. is an investment management firm based in Chicago, Illinois, founded in 1990. The company specializes in providing institutional investment solutions, managing approximately $71.77 billion in assets. PPM America offers a range of services, including fixed income, private equity, and commercial real estate, primarily catering to institutional investors such as pension funds and endowments. The firm prides itself on delivering customized investment strategies designed to meet the specific financial objectives of its clients. With a team-oriented culture that encourages collaboration and innovation, PPM America has built a reputation for its commitment to client service and performance. The firm has a long-standing presence in the industry, having evolved from its initial focus on insurance mandates to a broader array of institutional offerings, including separate accounts and mutual funds. PPM America’s investment professionals average 13 years of tenure, reflecting a stable workforce dedicated to achieving superior investment results through fundamental research and prudent risk management.

5. McDonnell Investment Management

• Website: mcdonnellinvestments.com
• Ownership type: Private
• Headquarters: Oakbrook Terrace, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 2001
• Headcount: 51-200
• LinkedIn: mcdonnell-investment-management

McDonnell Investment Management, based in Oakbrook Terrace, Illinois, is a private investment management firm founded in 2001. The company specializes in asset management and financial advisory services, catering to both retail investors and institutional clients. They offer a variety of investment products, including mutual funds and managed accounts, which are designed to meet the specific needs of their clients. McDonnell Investment Management emphasizes the integration of ESG factors into their investment strategies, reflecting a growing trend in the industry towards sustainable investing. This focus not only aims to enhance long-term financial performance but also aligns with the values of socially conscious investors. The firm operates with a dedicated team of professionals, ensuring that they provide tailored solutions and maintain a strong client focus. Their commitment to research and active management positions them well within the competitive asset management sector.

6. Mesirow Financial

• Website: mesirowfinancial.com
• Ownership type: Corporate
• Headquarters: Chicago, Illinois, United States (USA)
• Latest funding: July 2016
• Founded year: 1937
• Headcount: 501-1000
• LinkedIn: mesirow-financial

Mesirow Financial, based in Chicago, Illinois, is a financial services firm that has been operational since 1937. The company specializes in investment management, capital markets, and wealth management, providing tailored financial solutions to a variety of clients, including institutional investors, corporations, and individuals. Mesirow offers a range of investment strategies, including private equity, equity management, and strategic fixed income, among others. They have also made strides in capital markets, advising on structured debt products and public finance. Their commitment to community engagement and sustainability reflects a modern approach to finance, emphasizing the importance of social responsibility alongside financial performance. Mesirow has been recognized as a Top 100 RIA by Barron’s, indicating their strong position in the asset management sector.

7. PT Asset Management, LLC

• Website: ptam.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 2008
• Headcount: 11-50
• LinkedIn: performance-trust-investment-advisors-llc-ptia-

PT Asset Management, LLC, based in Chicago, Illinois, is a private asset management firm that specializes in fixed income investments. Established in 2008, the firm was founded by partners from Performance Trust Capital Partners LLC, who recognized opportunities in the dislocated credit markets. PTAM offers a range of mutual funds and ETFs designed for both individual and institutional investors. Their flagship products include the Total Return Bond Fund, Municipal Bond Fund, and Multisector Bond Fund, all of which have received commendable ratings from Morningstar. The firm employs a proprietary investment process known as Shape Management®, which allows them to navigate various market conditions effectively. As of December 31, 2023, PTAM manages approximately $6.95 billion in assets, showcasing their relevance and expertise in the asset management industry.

8. Amplify ETFs

• Website: amplifyetfs.com
• Ownership type: Private
• Headquarters: Lisle, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 2015
• Headcount: 11-50
• LinkedIn: amplify-etfs

Amplify ETFs, based in Lisle, Illinois, is an investment management company that specializes in Exchange-Traded Funds (ETFs). Established in 2015, the firm has developed a portfolio of ETFs that cater to various investment needs, including income generation and thematic investing. Their product lineup includes funds focused on sectors such as technology, climate leadership, and high-income strategies. Amplify ETFs aims to provide investors with expanded opportunities while effectively managing risk. The company serves both individual and institutional investors, reflecting its commitment to a broad market reach. With a team of approximately 34 employees, Amplify ETFs is positioned to respond to the evolving demands of the investment community, emphasizing innovation and strategic growth in the ETF market.

9. Uhlmann Price Securities, LLC

• Website: upsecurities.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 1997
• Headcount: 11-50
• LinkedIn: uhlmann-price-securities-llc

Uhlmann Price Securities, LLC, based in Chicago, Illinois, is an investment management firm that specializes in wealth management and institutional services. Established in 1997, the company has built a reputation for providing tailored investment strategies to both private clients and institutions. Their offerings include a wide range of investment products, from equities to hedge funds, and they emphasize a modern, interactive approach to portfolio construction. The firm prides itself on ethical conduct and maintaining client trust, which is reflected in their corporate mission. Uhlmann Price has over $650 million in assets under management, showcasing their capability in handling significant investment portfolios. The firm is also a member of FINRA and is registered with the SEC, allowing them to offer a variety of transactional and fee-based services. Their investment committee, composed of senior executives, plays a crucial role in analyzing and ensuring the quality of the alternative investment products they offer.

10. Duff & Phelps Investment Management Co.

• Website: dpimc.com
• Ownership type: Private Equity
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 97%, Brazil 3%
• Latest funding: $4.2B, January 2020
• Founded year: 1932
• Headcount: 51-200
• LinkedIn: duff-%26-phelps-investment-management-co.

Duff & Phelps Investment Management Co., based in Chicago, Illinois, is an investment management firm with a rich history dating back to 1932. The company specializes in various asset classes, including U.S. and global real estate, energy infrastructure, and clean energy investments. They cater primarily to institutional clients, such as public funds, corporations, and endowments, as well as individual investors. The firm is known for its active portfolio management and customized investment solutions, which are designed to enhance client outcomes. As a wholly-owned subsidiary of Virtus Investment Partners, Duff & Phelps has access to a broader network while maintaining its boutique structure, allowing for specialized strategies. Their commitment to responsible investing is evident in their integration of environmental, social, and governance (ESG) factors into their investment processes. This focus on quality and reliability has helped them build a strong reputation in the investment community.

11. Omnium LLC

• Website: omnium.com
• Ownership type: Corporate
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Latest funding: May 2011
• Founded year: 2007
• Headcount: 51-200
• LinkedIn: omnium-llc

Omnium LLC, part of Northern Trust, is based in Chicago, Illinois, and was founded in 2007. The company specializes in wealth management, asset servicing, and investment management. It caters to a wide range of clients, including corporations, institutions, and high-net-worth individuals. Omnium LLC is known for its tailored financial solutions that help clients navigate intricate financial landscapes and achieve their investment objectives. The firm has a global reach, with numerous locations across the United States and internationally, allowing it to provide comprehensive services to its clients. Omnium LLC's commitment to innovation and client service positions it as a significant player in the asset management sector.

12. Kovitz

• Website: kovitz.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 2003
• Headcount: 201-500
• LinkedIn: kovitz

Kovitz is a wealth management firm based in Chicago, Illinois, founded in 2003. The company specializes in providing asset management and financial advisory services tailored to high net worth individuals, institutions, and financial professionals. Kovitz emphasizes a disciplined investment philosophy, focusing on long-term performance and intrinsic value rather than short-term market fluctuations. The firm manages and advises on approximately $20 billion in assets, showcasing its capability and client trust. Kovitz operates multiple offices across the United States, including locations in Ann Arbor, Boston, and Los Angeles. The firm has been recognized in the industry, being named to Forbes' list of top RIA firms and Barron's top 100 RIA firms, reflecting its commitment to excellence in service and investment strategies.

13. Balyasny Asset Management L.P.

• Website: bamfunds.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 62%, United Kingdom (UK) 23%, Singapore 5%, Other 10%
• Founded year: 2001
• Headcount: 1001-5000
• LinkedIn: balyasny-asset-management-l.p.

Balyasny Asset Management L.P. is an investment management firm based in Chicago, Illinois, founded in 2001. The company specializes in various investment strategies, including long/short equity, macro, and growth equity. With a workforce of approximately 2,070 employees, Balyasny serves a clientele that includes institutional investors and high-net-worth individuals. The firm is dedicated to generating consistent, uncorrelated returns through a collaborative and innovative investment approach. Balyasny emphasizes the importance of technology and data in its operations, utilizing advanced platforms for risk management and market analysis. Their global footprint includes offices in major financial hubs such as New York, London, and Singapore, reflecting their commitment to a broad market reach and operational excellence. The firm has built a culture that values teamwork, accountability, and continuous improvement, which is integral to their investment philosophy.

14. PowerShares by Invesco

• Website: powershares.com
• Ownership type: Venture Capital
• Headquarters: Downers Grove, Illinois, United States (USA)
• Latest funding: January 2005
• Founded year: 2003
• Headcount: 51-200
• LinkedIn: powershares-by-invesco

PowerShares by Invesco, based in Downers Grove, Illinois, is an investment management firm that specializes in a range of financial products, including exchange-traded funds (ETFs) and mutual funds. Founded in 2003, the company aims to assist both individual and institutional investors in achieving their financial objectives through effective investment strategies. PowerShares is particularly noted for its innovative approach to ETFs, which allows investors to access various market opportunities while managing costs and tax implications. The firm has developed a suite of products that cater to different investment goals, such as growth, income, and diversification. Their commitment to providing educational resources and insights further enhances their position in the asset management industry, making them a relevant player in the market.

15. Mesirow

• Website: mesirow.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 98%, Other 2%
• Founded year: 1937
• Headcount: 501-1000
• LinkedIn: mesirow-financial

Mesirow is a Chicago-based financial services firm founded in 1937. The company operates in several key areas, including investment management, capital markets, wealth management, and investment banking. Mesirow serves a variety of clients, from middle-market businesses to larger organizations, offering customized financial solutions to navigate complex investment landscapes. Their investment management capabilities include strategies in private equity, real estate, equity management, and fixed income. Mesirow has also been recognized for its commitment to community engagement and social responsibility, emphasizing sustainability and diversity within its operations. The firm is employee-owned, which fosters a culture of accountability and client-centric service. Mesirow has not reported any recent funding, indicating stability and a focus on organic growth.

16. Magnolia Capital

• Website: magnoliacap.com
• Ownership type: Corporate
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 91%, India 9%
• Latest funding: $37.0M, June 2020
• Founded year: 2016
• Headcount: 11-50
• LinkedIn: magnoliacapital

Magnolia Capital Management Company, Inc. is an investment management firm based in Chicago, Illinois, founded in 2016. The company specializes in technology and investment strategies, providing services to both investors and businesses seeking asset management and strategic investment advice. With a workforce of approximately 47 employees, Magnolia Capital operates primarily in the United States, with a small percentage of its team based in India. The firm has received $37 million in funding as of June 2020, reflecting a strong backing from investors. Magnolia Capital's focus on technology-driven investment strategies positions it as a relevant player in the asset management industry, catering to a range of clients looking for innovative investment solutions.

17. Whi

• Website: whi.com
• Ownership type: Private
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United Kingdom (UK) 100%
• Founded year: 1987
• Headcount: 11-50
• LinkedIn: whi

William Harris Investors, Inc. (WHI) is a private investment management firm based in Chicago, Illinois. Established in 1976 by Irving B. Harris, the firm was created to manage the capital of his family, which spans four generations. WHI specializes in providing comprehensive wealth management services, including financial planning, estate planning, and trust administration. The firm aims to achieve attractive long-term, risk-adjusted returns while safeguarding capital during market fluctuations. WHI invests in a variety of strategies, such as public and private equities, fixed income, venture capital, hedge funds, and real estate. Additionally, WHI offers a range of professional services, including tax preparation and philanthropic support, through its affiliate, WHI Trust Company, LLC. The firm prides itself on maintaining high standards of integrity and service, reflecting the values instilled by its founder.

18. Cap Strat

• Website: capstratig.com
• Ownership type: Private
• Headquarters: Oakbrook Terrace, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 2003
• Headcount: 11-50
• LinkedIn: cap-strat

Cap Strat, based in Oakbrook Terrace, Illinois, is an investment advisory firm that has been operational since 2003. The company specializes in fiduciary investment advisory, asset management, and private wealth services. They cater to a range of clients, including individuals, families, and organizations, helping them navigate the complexities of asset management. Cap Strat emphasizes a fiduciary approach, ensuring that their advice is free from conflicts of interest. Their services include comprehensive financial planning, investment management, and strategic consulting for organizations managing retirement plans and other assets. The firm prides itself on its independent status, which allows for agility and responsiveness in a rapidly changing market. Cap Strat also actively engages in community support and initiatives aimed at empowering women in finance through their Women’s Forum.

19. InSight Securities, Inc.- USA

• Website: insightamericas.net
• Ownership type: Private
• Headquarters: Highland Park, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Founded year: 1970
• Headcount: 51-200
• LinkedIn: insight-securities-inc-usa

InSight Securities, Inc. is an independent investment firm based in Highland Park, Illinois, established in 1970. The firm specializes in providing a comprehensive suite of financial services, including brokerage and investment management. Catering primarily to high net worth individuals, retirement accounts, and corporate clients, InSight Securities focuses on delivering customized investment solutions that align with the unique financial goals of its clients. The firm operates as a full-service broker/dealer and is an SEC Registered Investment Advisor, allowing it to conduct business across all 50 states and Washington D.C. InSight Securities prides itself on not offering proprietary products, which enables its representatives to select from a broad array of investment options to best serve their clients' needs. Their expertise spans both domestic and international securities, further enhancing their capability to manage a variety of investment portfolios effectively.

20. MainStreet Investment Advisors, LLC

• Website: mainstreetadv.com
• Ownership type: Venture Capital
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 100%
• Latest funding: Seed, August 2003
• Founded year: 2003
• Headcount: 11-50
• LinkedIn: mainstreet-advisors-llc

MainStreet Investment Advisors, LLC, based in Chicago, Illinois, has been providing investment advisory services since its inception in 2003. The firm specializes in a variety of investment management solutions, including automated portfolio solutions, direct indexing, and separate account management. They cater primarily to clients in the financial services sector, such as wealth management firms, independent trust companies, and law offices. MainStreet Advisors prides itself on its commitment to client service, offering customized investment strategies and in-depth research to help clients achieve their financial objectives. Their investment committee, composed of experienced professionals, collaborates to align investment strategies with client expectations. The firm also provides marketing and compliance support, enhancing its value proposition to clients. With a focus on technology and innovation, MainStreet Advisors continues to adapt to the evolving needs of the investment community.

Asset Management Insights: Key Companies in Illinois

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