- Summary & Methodology
- Industry Trends
- Transition Manager League Tables
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- Abel Noser, LLC
- BlackRock
- BTIG, LLC
- Citigroup Global Markets Inc.
- Macquarie Group Ltd.
- Northern Trust Investments, Inc.
- Pavilion Global Markets Ltd.
- Russell Investments
- State Street Global Markets
Past Surveys
Transition Manager Profiles
Pavilion Global Markets Ltd.
www.paviliongm.com
Summary of Offering
Pavilion Global Markets (PGM) has been assisting plan sponsors, foundations/endowments and fund companies with the implementation of portfolio changes for over 20 years. PGM’s history dates back to 1968 when it was founded and operated a 24-hour, agency-only, global trading desk. In 1996, the firm added transition management as a core service.
Transition management is one of three core lines of business for PGM. All trading is executed by PGM’s centralized, 24-hour, agency-only, global trading desk. PGM is a registered broker-dealer in the U.S. and Canada. PGM offers TM on an agency-only basis for all asset classes (equity, bonds and FX) and provides full transparency. PGM does not operate a proprietary trading desk nor does it internalize any order flow.
Client Restrictions: None
Business Summary (as of 09/30/2020)
| Total TM clients | 163 |
| Total TM mandates | 185 |
| Total assets transitioned ($USD) | >$93B |
Regions with Clients that Completed TM Events (2019-2020)
| U.S. | |
| Canada | |
| U.K. | |
| Continental Europe and Republic of Ireland | |
| Asia | |
| Australia | |
| All other locations |
Summary of Client Feedback from 2020 Survey
| Total respondents | 24 |
| Net recommendation/promoter score | 75% |
| % independently audited | 0% |
| % accepted fiduciary role over event | 94% |
Responses by transition type
| Principal | 4% |
| Agency | 91% |
| Hybrid | 4% |
Responses by value of securities transitioned
| <$50MM | 0% |
| $50MM – $250MM | 20% |
| >$250MM – $1B | 56% |
| >$1B – $3B | 20% |
| >$3B | 4% |
Client ratings
5 = Extremely satisfied; 1 = Unsatisfied
| Transition strategies and planning capabilities | 4.92 |
| Operational capabilities and trading quality | 4.88 |
| Risk management capabilities | 4.64 |
| Quality/transparency of reporting | 4.88 |
| Accuracy of pre-trade estimate | 4.60 |
| Transparency of disclosures | 4.92 |
| Overall project management | 4.92 |
| Knowledge/responsiveness of staff | 4.92 |
N/A = Not Applicable (providers needed a minimum of 10 responses to be rated)