New Vernon Investment Management provides portfolio management for pooled vehicles, portfolio management for institutions and security ratings or pricing. The firm advises 2 private funds.
New Vernon Investment Management reports 13 clients. They include 10 pooled investment vehicles, 2 other investment advisers and 1 corporate or other business client. Of its assets, 100.0% ($116M across 11 accounts) are managed with discretion. It advised 2 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 77% | 98% |
| Other investment advisers | 15% | 0% |
| Corporations and other businesses | 8% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 10 | $113M | 97.9% | $11.3M |
| Other investment advisers | 2 | $0 | 0.0% | $0 |
| Corporations and other businesses | 1 | $2.41M | 2.1% | $2.41M |
| Total | 13 | $116M | 100% | $8.89M |
- Clients
- 10
- Regulatory AUM
- $113M
- AUM share
- 97.9%
- Avg. per client
- $11.3M
- Clients
- 2
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- $0
- Clients
- 1
- Regulatory AUM
- $2.41M
- AUM share
- 2.1%
- Avg. per client
- $2.41M
Total
- Clients
- 13
- Regulatory AUM
- $116M
- AUM share
- 100%
- Avg. per client
- $8.89M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 2
- Private funds advised
- 2
New Vernon Investment Management is paid through a percentage of assets under management, fixed fees (other than subscription fees), performance-based fees and other compensation; its fees and minimums are set out in its brochures on the SEC website.
NV Capital Holdings II, LLC owns 75% or more of New Vernon Investment Management and is in turn owned by Arshad Zakaria (25–50%). The leadership team of New Vernon Investment Management includes Chief Financial Officer Gary Just. It has 8 employees, 4 of them in advisory roles.
Leadership
- Gary JustChief Compliance Officer, Chief Financial Officer
- Steven ShapiroManaging Member
- Daniel ShapiroMember
Staff
- 8 employees
- 4 in advisory functions
- 1 state-registered rep
- 6 broker-dealer reps
- 1 soliciting firm
- Owns 75% or more of New Vernon Investment Management LLC
NV Capital Holdings II, LLC
Control person · since July 2011
- Owns 25% to 50% of NV Capital Holdings II, LLC
Arshad Zakaria
Control person · since November 2004
- Owns 5% to 10% of New Vernon Investment Management LLC
Daniel Shapiro
Control person · since July 2011
- Owns 5% to 10% of New Vernon Investment Management LLC
Steven Shapiro
Control person · since July 2011
New Vernon Investment Management’s regulatory assets grew from $89M (March 2021) to $116M (April 2026); clients fell from 14 to 13 and employees from 11 to 8.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $116M | 13 | 8 | 1 |
| April 2025 | $117M | 13 | 8 | 1 |
| April 2024 | $109M | 13 | 8 | 1 |
| June 2023 | $97.6M | 13 | 10 | 1 |
| June 2022 | $99.5M | 13 | 10 | 1 |
| March 2021 | $89M | 14 | 11 | 1 |
Besides its headquarters, New Vernon Investment Management has 0 offices, with 1 listed address in Illinois.
Illinois · 1 listed address
- 799 Central Ave, Suite 350, Highland ParkHQ
Contact and registration details
- Legal name
- New Vernon Investment Management LLC
- Headquarters
- 799 Central Ave, Suite 350, Highland Park, IL 60035
- Website
- Not reported
- Phone
- 847-926-5700
- SEC file
- 801-73602
- Structure
- Delaware LLC
- Fiscal year end
- December
New Vernon Investment Management uses Pershing ($2.41M) as custodian for its separately managed accounts. New Vernon Investment Management has custody of $113M in client assets for 10 clients.
- PershingPershing LLC · Jersey City, NJ · $2.41M100%
At year end, New Vernon Investment Management’s separately managed accounts were mostly in stocks (100%). Its reported 13F holdings for the quarter ended 30 June 2026 total $81.7M across 37 positions; the largest are Travelers Companies Inc. (10.6%), Chubb Ltd Switz (7.7%) and Aon PLC (7.1%).
What the accounts hold
- Stocks100%
Reported 13F holdings
- $81.7M
- Reported 13F value
- 37
- Positions
- 56.3%
- In the 10 largest
- −13.3%
- Value vs. prior quarter
- Travelers Companies Inc.10.6%
- Chubb Ltd Switz7.7%
- Aon PLC · Shs CL A7.1%
- Berkley W R Corp.5.5%
- Gallagher Arthur J & CO5.5%
- Arch Cap Group Ltd4.9%
- Radian Group Inc.4.2%
- Broadcom Inc.4.0%
- Hartford Insurance Group Inc.3.6%
- Old Rep Intl Corp.3.3%
Together, the ten largest are 56.3% of reported value.
How many clients does New Vernon Investment Management have?
New Vernon Investment Management has 13 clients and manages $116 million for them, as of April 2026. They include 10 pooled investment vehicles, 2 other investment advisers and 1 corporate or other business client.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 April 2026
What services does New Vernon Investment Management offer?
New Vernon Investment Management provides portfolio management for pooled vehicles, portfolio management for institutions and security ratings or pricing.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does New Vernon Investment Management use?
New Vernon Investment Management’s separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $2.41M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 April 2026
How many financial advisors does New Vernon Investment Management have?
New Vernon Investment Management has 1 investment adviser representative registered with state securities authorities, out of 8 employees, and 4 perform investment advisory functions. 6 employees are registered representatives of a broker-dealer and 0 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does New Vernon Investment Management invest in?
At the end of its last fiscal year, New Vernon Investment Management’s separately managed accounts held 100% exchange-traded equities. It advises 2 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns New Vernon Investment Management?
New Vernon Investment Management is owned through a holding company by Arshad Zakaria. Its direct owners are Daniel Shapiro (5% to 10%), Steven Shapiro (5% to 10%) and NV Capital Holdings II, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 27 April 2026
How does New Vernon Investment Management get paid?
New Vernon Investment Management is paid through a percentage of assets under management, fixed fees, performance-based fees and other compensation. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact New Vernon Investment Management?
New Vernon Investment Management’s main office is at 799 Central Ave, Suite 350, Highland Park, IL 60035. Its phone number is 847-926-5700.