Crow Holdings is a privately held firm based in Dallas, Texas that makes investments on behalf of the Trammell Crow family and its investments partners. The owners have agreed to operate the business under a governance structure which has authority over all activities of Crow Holdings and which is designed to allow Crow Holdings to operate in perpetuity. Harlan Crow and the management team work with a seven-person board of directors, six of which are outside directors. The board directs the overall strategy and direction of Crow Holdings which includes directing management to execute a multi-year business plan across multiple asset classes with specified return goals. Real estate investments remain the cornerstone of Crow Holdings' portfolio with a significant asset-allocation target to this asset class. In order to achieve the diversification goals of Crow Holdings, the remaining investment allocations are diversified outside of real estate.