Kleinwort Benson Investors already has two other offices in the US, in New York where it first established a presence in America, and San Francisco which opened in 2013.
In Boston, it has taken a five year lease on 1,677 square feet of space on the 36th floor of One Boston Place, in what it describes as one of the city’s most iconic buildings at the centre of the financial district.
There will be three business development managers and one portfolio manager based at the new offices in the initial stages.
This base is targeted at its growing North American client base, from the East Coast to the West Coast, and into Canada, where it said it had been awarded a number of sizeable mandates.
The firm’s North American client assets have grown from just under $1bn in December 2012 to $4bn as of September 2015, which in turn prompted the need for a fully-equipped Boston office.
The mandates it won over the last two or three years came from public funds, endowments and foundations, and also through a number of large sub-advisory relationship with Calvert Investments, Mercer and SEI.
Geoff Blake, head of business development & client services, said: “Many of our prospects come to Dublin to meet the team and to get a feel for our operation as part of their due diligence process, but their task will be that bit easier in the initial stages of the manager selection process in the future given the addition of the new office.”
He added that as Boston was also home to many US institutional consultants, it would bring Kleinwort Benson Investors closer to a key audience as the North American footprint was extended.