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Eolas Capital to Acquire Equity Stake in Impact Manager Harmony Capital Advisors, Provide Marketing and Operational Support

Posted on

March 15, 2023

Eolas Capital, an investment advisor, incubator, and provider of business solutions to asset and wealth managers, today announced it has entered into an agreement with Harmony Capital Advisors, LLC, an investment boutique that manages a global all-cap equity strategy investing exclusively in companies that develop sustainable solutions within their industries and seek to build long-term shareholder value.

Under terms of the agreement, Eolas Capital will take an equity stake in Harmony Capital and provide operational support, marketing, and distribution for Harmony’s impact strategy to investment consultants, institutional asset owners, and wealth platforms, with an initial emphasis on endowments and foundations.

Rye, New Hampshire-based Harmony Capital was launched in 2021 by Robin Wehbe, president and chief investment officer. Wehbe previously was lead portfolio manager of the global natural resources strategy for Mellon Investments, where he worked for 14 years.

Harmony Capital’s global portfolio is diversified across economic sectors as well as eight paths of impact: clean energy; circular economy; green infrastructure and water; agriculture; access to healthcare; financial inclusion; safety and security; and education. Harmony Capital engages with companies to improve behavior and disclosure and prioritizes key performance indicators to measure progress.

“Companies working to solve the world’s biggest challenges — environmental health and social well-being — represent the biggest opportunities,” Wehbe said. “Partnering with Eolas allows Harmony to concentrate on our investment impact thesis and engage with companies globally that can demonstrate that their operations directly effect change, avoid lethal liabilities, and capitalize on innovative trends.”

“Robin has an enviable track record as a portfolio manager and team builder, and we believe Harmony Capital’s model is durable and can provide investors with the verifiable solutions they seek from impact managers,” said Kristen Fontaine, president and head of consultant relations for Eolas Capital. “This is a highly critical area for asset owners and allocators.”

Boston-based Eolas Capital was launched in March 2021 by Des Mac Intyre, managing director and chief investment officer, and Channel Capital Pty Ltd., a leading Australian multi-partner asset management business with more than A$32 billion in assets. Eolas focuses on three business lines—solicitation on behalf of boutique U.S. asset managers, incubating new and distinctive asset managers, and introducing non-U.S. asset managers in the U.S. market through Eolas-sponsored funds.