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Rating:RiverPark Taps a New Sales Head, Plots its Mutual Fund Foray Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, June 29, 2010

RiverPark Taps a New Sales Head, Plots its Mutual Fund Foray

Reported by Armie Margaret Lee

RiverPark Capital hired former Baron Funds sales executive Matt Kelly as its marketing and distribution chief, succeeding Tom Winnick, who joined Dreman Value Management this month. Kelly reunites with other Baron alums, including RiverPark CEO Morty Schaja and CIO Mitch Rubin.

Most recently, Kelly served as vice president and senior national sales director at Baron Funds, where he spent 13 years. It could not immediately be confirmed how his former duties are being handled.

Kelly's hiring is not the only news coming out RiverPark, which, like Baron, is based out of New York City. RiverPark is preparing to jump into the mutual fund business, having filed last week to launch six '40 Act offerings, two of which will be run in-house.

Wedgewood Partners will sub-advise one of the funds, Cohanzick Advisors will sub-advise another and Gravity Partners will sub-advise two.

RiverPark itself sub-advises four active ETFs for Grail Advisors.

Schaja said in an interview on Tuesday that the firm's decision to get into the mutual fund space "is in recognition that the vast majority of assets are still in the mutual fund world."

Schaja said that while ETFs carry attractions such as transparency, "mutual funds continue to be attractive vehicles for many investors."

"We are not a mutual fund company. We are not an ETF company. We're an asset management company," Schaja said, adding that his firm is indifferent to vehicle types. 

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