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Rating:A Gotham FA Moves Ahead of a CEF Transformation Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 22, 2017

A Gotham FA Moves Ahead of a CEF Transformation

Reported by Cat Felle

An FA in NYC is joining a nearby asset manager ahead of a closed-end-to-open-end mutual fund shift.

On Friday, September 15, Stephen Dudurich left Calton & Associates, Inc. to start at Provasi Capital Partners. Calton is a Tampa-based independently-owned, full service securities broker-dealer and investment advisory firm including approximately 300 financial advisors. The reason for leaving was Calton’s “overreaction to the DoL fiduciary rule” dividing his commission in half, Dudurich says. He anticipates receiving his remaining commission from Calton over the next few months. Calton was not available for immediate comment.

Dudurich, an alternative investment specialist, started on Monday, September 18 at Provasi Capital Partners, which is the parent company to Prospect Capital Management. Prospect Capital Management (PCM) is a New York-based asset management firm and registered investment advisor with a concentration in senior secured loans and CLOs and more than 100 employees.

Dudurich plans to transform the Provasi Priority Income Fund from a closed-end fund, into an open-end fund. Nishil Mehta is principal, head of capital markets for Prospect Capital Management (PCM), and portfolio manages the fund.  

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