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Wednesday, June 30, 2010

RiverPark Seeks Fund Service Providers

Reported by Armie Margaret Lee

RiverPark Capital, a New York City-based asset manager preparing to jump into the mutual fund industry, is about to launch a hunt for fund service providers.

"I'd like to reach out to potential service providers over the next couple of weeks and make a decision in the next four to six weeks," RiverPark CEO Morty Schaja said in an interview.

As reported by The MFWire yesterday, RiverPark filed with the SEC last week to launch six mutual funds.

Of the six mutual funds RiverPark plans to launch, two will be managed in-house, while Wedgewood Partners will sub-advise one, Cohanzick will sub-advise another and Gravity Partners will sub-advise two.

On the ETF side, RiverPark currently sub-advises four active ETFs for Grail Advisors.

Schaja and RiverPark CIO Mitch Rubin, both alums of Baron Capital, started RiverPark in 2006. Other Baron alums in the company include principal and portfolio manager Conrad van Tienhoven and head trader Kristi Caruso. The latest addition to the list is Matt Kelly, who joined the firm this month as marketing and distribution head.  

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