Artisan Partners: Investment Strategies & Funds
Artisan Partners: A Deep Dive into a Premier Global Investment Management Firm
In the vast and ever-evolving landscape of global finance, certain names stand out for their steadfast commitment to a core philosophy, their ability to attract and retain top-tier talent, and their consistent delivery of value to clients. Artisan Partners (artisanpartners.com) is one such firm. This is not just another asset manager; it is a collective of dedicated investment professionals, a platform for entrepreneurial spirit, and a testament to the enduring power of active, high-value-added investment strategies.
This in-depth exploration will take you through the corridors of Artisan Partners, from its humble beginnings to its current stature as a leading global investment management firm. We will dissect its unique investment culture, explore its diverse range of investment strategies, and shed light on its commitment to sustainability and long-term value creation. Whether you are a seasoned investor, a financial professional, or simply curious about what makes a great investment firm tick, this comprehensive overview of Artisan Partners will provide you with the insights you need.
The Genesis of a Vision: The History of Artisan Partners
Artisan Partners was founded in 1994 by Andrew and Carlene Ziegler. At the time, Andrew Ziegler was the President of Strong Capital Management, a prominent investment firm. His decision to leave and forge a new path with his wife, a portfolio manager at the same firm, was rooted in a clear and compelling vision: to create an investment firm that was truly by and for investors.
The Zieglers envisioned a firm where talented investment professionals could thrive, free from the bureaucratic constraints that often stifle creativity and innovation in larger organizations. They wanted to build a business model centered on autonomous investment teams, each with its own distinct investment philosophy and process. This “artisan” approach, where skilled craftsmen (in this case, portfolio managers) are given the tools and the freedom to practice their craft, is embedded in the firm’s name and its DNA.
In 1995, Artisan Partners launched its first fund, a small-cap growth equity strategy for American companies. This inaugural fund set the stage for what would become a hallmark of the firm: a focus on specialized, actively managed strategies designed to deliver superior, long-term results.
Over the decades, Artisan Partners has grown and evolved, but it has never strayed from its founding principles. The firm has methodically and deliberately expanded its investment offerings, adding new teams and strategies that align with its core philosophy of high-value-added investing. This disciplined approach to growth has allowed Artisan Partners to build a global presence and a diversified platform of investment solutions without compromising its boutique, talent-centric culture.
The Artisan Way: A Culture of Autonomy, and Excellence
At the heart of Artisan Partners’ success lies its distinctive investment culture. It is a culture that is intentionally designed to attract, retain, and empower some of the most talented investment professionals in the industry. The key pillars of this culture are:
Talent-Driven: Artisan Partners believes that exceptional investment outcomes are the result of exceptional talent. The firm’s entire business model is built around identifying and partnering with talented investment teams who have a proven track record of success.
Autonomous Investment Teams: This is perhaps the most defining feature of the Artisan Partners model. Each investment team operates as a distinct, entrepreneurial franchise within the broader firm. They have complete autonomy over their investment philosophy, process, and decision-making. This allows them to stay true to their convictions and to execute their strategies with a high degree of focus and consistency.
Long-Term Focus: In an industry often characterized by short-term thinking and a relentless focus on quarterly results, Artisan Partners stands apart with its unwavering commitment to the long term. The firm believes that true value creation takes time, and it encourages its investment teams to take a patient, long-term view. This long-term orientation is reflected in the firm’s low portfolio turnover and its focus on investing in high-quality businesses with sustainable competitive advantages.
High Value-Added Investing: Artisan Partners is not interested in being a closet indexer. The firm is committed to active management and to delivering returns that meaningfully outperform their respective benchmarks over the long term. This focus on high-value-added investing means that the firm’s strategies are often concentrated, with portfolios that look very different from the broader market indices.
Alignment of Interests: Artisan Partners is structured to ensure that its interests are aligned with those of its clients. The firm’s portfolio managers are significant investors in their own strategies, and their compensation is tied directly to their long-term investment performance. This “eat your own cooking” approach fosters a strong sense of ownership and accountability.
A Universe of Investment Strategies: The Artisan Partners Playbook
Artisan Partners offers a diverse and comprehensive suite of investment strategies, each managed by a distinct and autonomous investment team. This multi-boutique structure allows the firm to offer a wide range of investment solutions while maintaining the specialized expertise and focus of a smaller, more nimble organization.
The firm’s investment strategies span a variety of asset classes, investment styles, and geographic regions. Here is a detailed look at the investment teams and their strategies:
Growth Team
The Growth team at Artisan Partners is focused on identifying and investing in companies with the potential for superior, sustainable growth. The team employs a bottom-up, fundamental research process to identify high-quality businesses with strong management teams, durable competitive advantages, and attractive long-term growth prospects. The Growth team manages the following strategies:
Global Opportunities: A global equity strategy that invests in a concentrated portfolio of growth companies across all market capitalizations.
Global Discovery: A global equity strategy that focuses on small- and mid-cap growth companies.
U.S. Mid-Cap Growth: A strategy that invests in a diversified portfolio of mid-cap growth companies in the United States.
U.S. Small-Cap Growth: A strategy that focuses on small-cap growth companies in the United States.
Franchise: A strategy that invests in a concentrated portfolio of high-quality, durable franchise businesses.
Global Equity Team
The Global Equity team is focused on investing in a concentrated portfolio of high-quality global companies that are trading at a discount to their intrinsic value. The team employs a long-term, value-oriented approach and is willing to look different from the benchmark in order to generate superior, long-term returns. The Global Equity team manages the following strategies:
Global Equity: A global equity strategy that invests in a concentrated portfolio of high-quality companies.
Non-U.S. Growth: A strategy that invests in a diversified portfolio of growth companies outside the United States.
U.S. Value Team
The U.S. Value team is focused on identifying and investing in undervalued U.S. companies of all market capitalizations. The team employs a disciplined, value-oriented approach and is focused on generating attractive, long-term returns while managing risk. The U.S. Value team manages the following strategies:
Value Equity: A strategy that invests in a diversified portfolio of undervalued U.S. companies.
U.S. Mid-Cap Value: A strategy that focuses on undervalued mid-cap companies in the United States.
Value Income: A strategy that seeks to generate a high level of current income and long-term capital appreciation by investing in a diversified portfolio of undervalued, dividend-paying U.S. companies.
International Value Group
The International Value Group is focused on investing in a concentrated portfolio of undervalued companies outside the United States. The team employs a long-term, value-oriented approach and has a deep understanding of international markets. The International Value Group manages the following strategies:
International Value: A strategy that invests in a diversified portfolio of undervalued companies in developed and emerging markets outside the United States.
International Explorer: A strategy that focuses on undervalued small- and mid-cap companies outside the United States.
Global Special Situations: A strategy that seeks to capitalize on special situations, such as mergers, acquisitions, and restructurings, in global markets.
Global Value Team
The Global Value team is focused on investing in a concentrated portfolio of undervalued companies from around the world. The team employs a long-term, value-oriented approach and is willing to invest in companies that are out of favor with the broader market. The Global Value team manages the following strategies:
Global Value: A strategy that invests in a diversified portfolio of undervalued companies from around the world.
Select Equity: A concentrated global equity strategy that invests in a select number of the team’s best ideas.
Sustainable Emerging Markets Team
The Sustainable Emerging Markets team is focused on investing in a portfolio of high-quality, sustainable companies in emerging and frontier markets. The team integrates environmental, social, and governance (ESG) factors into its investment process and believes that companies with strong sustainability profiles are more likely to generate superior, long-term returns. The Sustainable Emerging Markets team manages the Sustainable Emerging Markets strategy.
Credit Team
The Credit team at Artisan Partners is a leader in the high-yield and leveraged loan markets. The team has a deep understanding of credit analysis and is focused on generating attractive, risk-adjusted returns for its clients. The Credit team is led by Bryan Krug, who was recently recognized by Morningstar as the 2025 U.S. Morningstar Awards for Investing Excellence winner in the Fixed Income category. The Credit team manages the following strategies:
High Income: A strategy that invests in a diversified portfolio of high-yield corporate bonds.
Credit Opportunities: A flexible, opportunistic strategy that can invest across the entire credit spectrum, including high-yield bonds, leveraged loans, and distressed debt.
Floating Rate: A strategy that invests primarily in floating-rate loans and other floating-rate securities.
Antero Peak Group
The Antero Peak Group is a long/short equity team that is focused on generating attractive, risk-adjusted returns in all market environments. The team employs a fundamental, research-driven approach to identify both long and short investment opportunities. The Antero Peak Group manages the Antero Peak and Antero Peak Hedge strategies.
International Small-Mid Team
The International Small-Mid team is focused on investing in a portfolio of small- and mid-cap companies outside the United States. The team employs a bottom-up, fundamental research process to identify high-quality businesses with attractive growth prospects. The International Small-Mid team manages the Non-U.S. Small-Mid Growth strategy.
EMsights Capital Group
The EMsights Capital Group is a specialized investment team that is focused on emerging markets debt. The team has a deep understanding of emerging markets and is focused on generating attractive, risk-adjusted returns for its clients. The EMsights Capital Group manages the following strategies:
Emerging Markets Debt Opportunities: A flexible, opportunistic strategy that can invest across the entire emerging markets debt universe.
Global Unconstrained: A strategy that seeks to generate attractive, absolute returns by investing in a diversified portfolio of global fixed-income securities.
Emerging Markets Local Opportunities: A strategy that invests in a diversified portfolio of local currency-denominated debt securities in emerging markets.
A Universe of Funds: Accessing Artisan's Expertise
Artisan Partners makes its investment strategies available to a wide range of clients through a variety of investment vehicles, including mutual funds, separate accounts, and other institutional products. The firm’s mutual funds are marketed under the Artisan Partners Funds and Artisan Global Funds brands.
The Artisan Partners Funds family includes a diverse lineup of funds that provide investors with access to the firm’s various investment strategies. These funds are available to both retail and institutional investors and are offered in a variety of share classes to meet the needs of different investors.
Some of the most prominent funds in the Artisan Partners lineup include:
Artisan International Value Fund (ARTKX): One of the firm’s flagship funds, this fund is managed by the International Value Group and invests in a diversified portfolio of undervalued companies outside the United States.
Artisan Mid Cap Fund (ARTMX): Managed by the Growth team, this fund invests in a diversified portfolio of mid-cap growth companies in the United States.
Artisan High Income Fund (ARTFX): Managed by the award-winning Credit team, this fund invests in a diversified portfolio of high-yield corporate bonds.
Artisan Global Opportunities Fund (ARTHX): Managed by the Growth team, this fund invests in a concentrated portfolio of growth companies from around the world.
A Pillar of Strength: Assets Under Management
A key metric for any investment management firm is its assets under management (AUM). AUM is a measure of the total market value of the assets that a firm manages on behalf of its clients. It is a reflection of the firm’s size, scale, and the level of trust that investors have placed in its investment capabilities.
As of May 31, 2025, Artisan Partners had preliminary assets under management of $170.9 billion. This is a testament to the firm’s long and successful track record of delivering value to its clients.
The firm’s AUM is well-diversified across its various investment strategies and client types. As of the same date, Artisan Funds and Artisan Global Funds accounted for $83.4 billion of the firm’s total AUM, while separate accounts and other AUM accounted for $87.5 billion.
A Commitment to the Future: Sustainability at Artisan Partners
In today’s world, it is not enough for a company to simply be profitable. It must also be a responsible corporate citizen. This is especially true for investment management firms, which have a unique opportunity to influence corporate behavior and to promote a more sustainable and equitable world.
Artisan Partners has a long-standing commitment to responsible investment. The firm believes that integrating environmental, social, and governance (ESG) factors into its investment process can lead to better investment outcomes and a more sustainable future.
Artisan Partners is a signatory to the United Nations-supported Principles for Responsible Investment (PRI). As a PRI signatory, the firm is committed to incorporating ESG issues into its investment analysis and decision-making processes, being an active owner and incorporating ESG issues into its ownership policies and practices, and seeking appropriate disclosure on ESG issues by the entities in which it invests.
The firm’s commitment to sustainability is not just a box-ticking exercise. It is an integral part of its investment culture and process. Each of the firm’s autonomous investment teams has its own approach to ESG integration, but they all share a common belief in the importance of sustainable investing.
The Power of Partnership: The Artisan Partners Ecosystem
While Artisan Partners may not have traditional “partnerships” in the way that some other firms do, its entire business model is built on a foundation of partnership. The firm’s relationship with its autonomous investment teams is a true partnership, built on a foundation of trust, respect, and a shared commitment to excellence.
The firm also has strong and long-standing relationships with its clients. Artisan Partners is committed to providing its clients with a high level of service and to being a trusted partner in their investment journey.
A Legacy of Excellence: Awards and Recognition
Artisan Partners has a long and distinguished track record of success. The firm and its investment professionals have been recognized with numerous awards and accolades over the years.
Most recently, Bryan Krug, the head of the Artisan Partners Credit team, was named the winner of the 2025 U.S. Morningstar Awards for Investing Excellence in the Fixed Income category. This prestigious award is a testament to Krug’s exceptional investment skill, his courage to differ from the consensus, and his unwavering commitment to aligning his interests with those of his investors.
This is just one example of the many awards and accolades that Artisan Partners and its investment professionals have received over the years. These awards are a reflection of the firm’s commitment to excellence and its long track record of delivering value to its clients.
The People Behind the Performance: The Artisan Partners Team
Artisan Partners is a talent-driven organization. The firm’s success is a direct result of the hard work, dedication, and expertise of its employees. As of the most recent data available, Artisan Partners has approximately 549 employees.
The firm is headquartered in Milwaukee, Wisconsin, and has offices in other major financial centers around the world, including New York, London, and San Francisco. This global presence allows the firm to serve its clients in all major markets and to have a truly global perspective on investing.
A Firm Built to Last
In a world of constant change and disruption, Artisan Partners is a firm that is built to last. Its timeless investment philosophy, its talent-driven culture, and its unwavering commitment to its clients have allowed it to thrive for more than a quarter of a century.
As the firm looks to the future, it is well-positioned to continue its long track record of success. With a deep and diverse bench of investment talent, a strong and stable financial position, and a culture that is focused on the long term, Artisan Partners is a firm that is poised to continue to deliver value to its clients for many years to come.
Artisan Partners Leadership & Teams
Craigh Cepukenas – Managing Director
Cristal Lieungh – Investment Operations Manager
Jay Warner – Portfolio Manager
Charles-Henri Hamker – Portfolio Manager
Daniel L. Kane – Portfolio Manager
Thomas A. Reynolds – Portfolio Manager
Craig Inman – Portfolio Manager
Christopher Smith – Portfolio Manager
David Samra – Managing Director, Portfolio Manager
Ian P. McGonigle – Co-Portfolio Manager
Benjamin L. Herrick – Associate Portfolio Manager
Maria Negrete-Gruson – Portfolio Manager
Rezo Kanovich – Managing Director, Portfolio Manager
Michael A. Cirami – Managing Director, Portfolio Manager
Sarah C. Orvin – Managing Director, Portfolio Manager
Darren Goldman – Managing Director
Whitney Drayton – Managing Director
Headquarters: 875 E. Wisconsin Avenue Suite 800 Milwaukee, WI 53202, USA
Phone: 1-800-399-1770
Number of employees: Approx. 550
Website: www.artisanpartners.com