A family firm is sticking with the hedge fund space after selling off its mutual fund business.

Last month Alpine Woods Capital Investors [profile] sold its closed-end and open-end mutual fund business to Aberdeen Standard Investments [profile]. Several Alpine PMs joined Aberdeen Standard as part of the deal.

"Following this transaction, Alpine Woods Capital Investors, LLC and its affiliates plan to focus on developing and managing investment vehicles such as private funds, building upon Alpine's deep experience in the global financial markets," a spokeswoman for Alpine states.

Some Alpine staff, including chief financial officer Ron Palmer, left the the company after the Aberdeen Standard deal. Others — including PMs Joshua Duitz (global equities), Bruce Ebnother (global real estate), Jonathan Mondillo (global equities), and Mark Taylor (U.S. fixed income) — moved over to Aberdeen Standard.

Sam Lieber founded Alpine in 1998, and he runs it with his son, Stephen Lieber. 

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