president and CEO Michael Kern
wants to grow his firm into a $30 billion shop in the next few years, and he just hired BlackRock
sales executive David Rentfrow
to help him do it.
| David Rentfrow|
Managing Director and Head of Distribution
will report directly to Kern and serve as managing director and head of distribution, overseeing institutional, intermediary, and mutual fund product distribution for the Houston-based asset manager. He will be responsible for expanding the firm's network of broker-dealer partners and growing sales, revenue, and distribution efforts.
Prior to this appointment, Rentfrow worked as managing director and divisional director at BlackRock, where he led a team responsible for sales of all products within a multi-state region. A spokesperson from BlackRock was not immediately available to comment on whether Rentfrow's position has been filled.
Capstone, which currently manages $4.9 billion in assets, has a ways to go if it's going to grow by six times its current size. So what does the path to $30 billion look like?
"We will be laser-focused on very specific broker-dealers and specific advisers at those broker-dealers," Rentfrow tells MFWire
The independent investment advisor specializes in socially responsible investments through SMAs and as the manager of the Steward Mutual Funds
, a family of faith-based screened funds. Rentfrow has no immediate plans to launch new products or wrappers as part of the growth effort. However, if advisors need a certain investment solution or want to consume a product in a different wrapper, he's open to possibilities moving forward.
Overall, Rentfrow says he's excited to be part of the next chapter of Capstone and to bring the firm's niche strategies to the mainstream market.
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