Commonwealth Asset Management

Commonwealth Asset Management, known as CWAM, is a Los Angeles investment firm founded in 2019 by Adam Fisher, who is its Chief Investment Officer. Today it concentrates on real estate, taking the general partner or operating partner role in large platform and entity-level deals, and it forms its views from a broad macroeconomic reading of the economy and interest rates.

Products and services

• Real estate investment: opportunistic investments in sectors facing shifts in demand or fragmented ownership.
• Platform and entity-level deals: large transactions where the firm acts as the operating partner.
• Macro research: a process that starts with interest rates and the economic cycle to decide the balance of risk in the portfolio.
• Earlier strategies: a global macro fund plus digital asset funds and separately managed accounts launched in its first years.

Who it serves

Its investors, with whom it aims to build long-term partnerships. Current holdings sit in data centres, soundstages, logistics and communications.

Key facts

• Based in: Los Angeles
• Founded: 2019
• Team: 15 people
• Leadership: Adam Fisher, previously head of global macro and real estate at Soros Fund Management
• Strategic adviser: Brevan Howard, also a minority owner