Folsom-based TOR Wealth Advisors has raised $2.6 million in equity for a pooled investment fund, according to a filing with the Securities and Exchange Commission.
TOR Wealth Advisors was launched just over a year ago by Nathan Torinus as an advisory firm for business owners, high-net-worth families and family offices.
“It’s a subset of family office services,” Torinus said. In addition to managing stock market portfolios, he’s offering services including investing into private equity and also performing due diligence on non-public company investments clients may already have made.
A traditional family office is typically organized to manage the fortune, wealth and assets of a wealthy family. Torinus is offering the boutique services to multiple clients whose assets range between $10 million and $50 million.
“Sometimes (clients) are not looking for someone to tell them what to do. They are looking for someone to make sure they aren’t missing something,” he said.
Torinus is a former wealth adviser and chief operations officer with the former Sacramento-based Genovese Burford & Brothers Wealth and Retirement Plan Management LLC, which was acquired early in 2021 by Captrust Financial Advisors, based in Raleigh, North Carolina.
Torinus was then CEO of Van Hulzen Financial Advisors, a wealth management firm based in El Dorado Hills, for about a year as he put together his own firm. TOR Wealth, now a year old, has $42 million in assets under management.
The private equity fund Torinus recently raised is to put his clients’ money into another private equity investment vehicle of a Modesto-based real estate investment company.
It will specifically invest in an existing fund of Modesto-based Graceada Partners, which, in turn, invests in secondary and tertiary market real estate in the classes of multifamily, industrial and warehouse.
Those tend to be strong investments no matter the economy, and by investing in smaller markets like Bakersfield, Sacramento and Fresno, the investment opportunities fly beneath the radar of institutional investors, Torinus said. Graceada tends to buy from families or owners. It tends to make investments in the property the previous owners couldn’t do, and then it sells the improved property, all while collecting rent or leases on the property.
As of the SEC filing date late in July, the TOR Partners Fund I LP was seeking up to $5 million. The minimum for any single investor is $50,000, according to the filing with the SEC. Torinus said all investors must be accredited investors. The fund can still accept more money.
Torinus is a member of the Sacramento Angels, and he is on the screening committee, which means he looks through 60 applicant startup companies to find eight finalists that get narrowed down to two companies that make a pitch to the Angels roughly seven or eight times a year to seek their investment.
The new fund won’t be investing with the Angels, because that is a riskier investment class. He said future funds might do that kind of investing.
He added that his boutique family office services are strictly for investments, rather than concierge services that some family offices manage, such as paying bills or employees.
