Aaron M. Azelton, CFA

Aaron M. Azelton is a Senior Managing Director and Partner at Angeles Investments, a multi-asset investment firm founded in 2001 that serves institutional and private wealth clients. Angeles is a 100% employee-owned, Certified B Corporation that provides outsourced chief investment officer (OCIO) services, building customized portfolios across public and private markets. The firm has been named a Greenwich Best Investment Consultant among midsize consultants for eight consecutive years. Azelton is one of eleven employee-owners of the firm.

Azelton began his career at Fisher Investments in 2002, where he progressed from Regional Sales Associate to Capital Markets Analyst (2003-2005) and then Senior Equity Research Analyst (2006-2010). After leaving Fisher, he completed a Summer Associate role in the Portfolio Management Group at Pacific Alternative Asset Management Co (PAAMCO) in 2011 before joining Angeles Investments full-time in 2012. At Angeles, he initially served as Director of Public Markets & Partner (2012-2019) before being promoted to Managing Director & Partner in April 2019, and subsequently to Senior Managing Director & Partner.

Azelton holds a Bachelor of Arts from the University of California, Berkeley (1998-2002) and an MBA in Finance from UC Berkeley's Walter A. Haas School of Business (2010-2012). He is a CFA Charterholder and brings deep expertise in portfolio management, equity research, investment strategies, alternative investments, financial modeling, and quantitative analysis.

As Senior Managing Director & Partner at Angeles Investments, Azelton's investment approach is rooted in multi-asset, institutional-quality portfolio construction. His work encompasses:

• Public Markets: Deep expertise in equity research and public market investment manager selection, developed through years at Fisher Investments and his Director of Public Markets role at Angeles.
• Alternative Investments: Angeles' investment platform includes private equity, absolute return strategies, and opportunistic credit. The firm's Angeles Private Market Funds offer exposure to high-conviction private equity funds diversified by type, geography, industry, and strategy around long-term, sustainable investment themes.
• OCIO / Discretionary Management: Angeles operates as a fully discretionary outsourced CIO for institutional clients including pension plans, foundations, endowments, and charitable organizations, providing proprietary research, portfolio implementation, and comprehensive back-office support.
• Multi-Asset Allocation: The firm builds portfolios of best-in-class investment managers across all asset classes, with capital appreciation composites spanning equity, absolute return, private equity, and opportunistic credit.