Brian Schmucker founded Chicago-based Pinnacle Asset Management in 2000, and the firm rebranded as RiverNorth Capital Management in 2005. The asset manager "specializes in quantitative and qualitative closed-end fund trading strategies," according to its website.
RiverNorth entered the mutual fund business in December 2006 with the launch of its Core Opportunity Fund. As of December 2011, Morningstar gives the $504.2-million fund a five-star rating.
In January 2011 RiverNorth teamed up with star bond fund PM Jeff Gundlach, launch the RiverNorth/DoubleLine Strategic Income Fund with Gundlach's new firm, DoubleLine Capital, serving as sub-advisor. As of December 2011, that fund already held $585.2 million.
As of December 2011, RiverNorth boasted 12 employees. It distributes its funds through family offices, institutions, RIAs and wirehouses. The firm is majority-owned by management.
Brian Schmucker CEO, RiverNorth Capital Management
Patrick Galley PM, Chief Investment Officer, RiverNorth Capital Management
Jonathan Morhardt Chief Compliance Officer, RiverNorth Capital Management
Stephen O'Neill PM, trader, RiverNorth Capital Management
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