RiverPark Launches RiverPark Focused Value Fund

David Berkowitz, firm’s new co-chief investment officer, to act as portfolio manager; Fund is RiverPark’s third equity fund and first value fund

NEW YORK--(BUSINESS WIRE)-- RiverPark Advisors, LLC, which has built a reputation for identifying exceptional managers for its family of mutual funds, today announced the launch of the RiverPark Focused Value Fund (Institutional: RFVIX; retail: RFVFX), a high conviction strategy to be managed by former hedge fund manager David Berkowitz.

Berkowitz is also joining RiverPark as the firm’s new co-chief investment officer. He is seeding the new fund with $10 million of his own money, with other RiverPark principals investing an additional $2 million.

“For some time we have wanted to add an equity value fund to the RiverPark fund family. We were just waiting to find the right manager,” said Morty Schaja, co-founder and chief executive officer at RiverPark. “David is a long-time friend whose management style fits perfectly with our goal of providing access to managers with a highly differentiated approach to investing.”

RiverPark Focused Value seeks long-term capital appreciation by investing in the equity securities of companies that the fund’s advisor believes, based on its internal research, are trading at a substantial discount to intrinsic value. The fund will invest primarily in the securities of U.S. companies with market capitalizations in excess of $10 billion.

Berkowitz and his research team will seek to identify opportunities that generally fall into one of two categories – high quality businesses at reasonable prices and special situations that create significant distortions in the market’s perception of value, such as spin-offs, mergers and acquisitions, changes in company management, and other corporate events.

“Even in today’s market, we think it’s possible to find 20 to 30 companies that are compelling from a value investor’s perspective,” said Berkowitz. Berkowitz uses a fundamental, bottom up, rigorous, research-intensive approach to picking stocks, developing a quantitative framework for valuation and seeking to make purchases when investments are available at substantial discounts to a conservative assessment of value.

“We’re looking for the two or three key drivers of a stock’s performance,” Berkowitz added. “With every investment we ask ourselves ‘what do I have to believe will happen (and not happen)’ to make it compelling for us to own this stock?”

Berkowitz brings more than 20 years of financial industry experience to his management of the fund, most recently as a partner overseeing risk and strategy for Ziff Brothers Investments. He began his investment career in 1992, co-founding Gotham Partners, a value-oriented investment vehicle, along with William Ackman. He subsequently served as chief investment officer for a major New York City-based family office and as founder and portfolio manager for a long-only private investment fund. Berkowitz holds bachelor’s and Master’s degrees in chemical engineering from MIT and an MBA from the Harvard Business School.

In addition to the RiverPark Focused Value Fund, RiverPark sponsors the RiverPark/Wedgewood Fund (RWGIX/RWGFX), the RiverPark Large Growth Fund (RPXIX/RPXFX) the RiverPark Long/Short Opportunity Fund (RLSIX/RLSFX); the RiverPark Short Term High Yield Fund (RPHIX/RPHYX), the RiverPark Strategic Income Fund (RSIIX/RSIVX); the RiverPark/Gargoyle Hedged Value Fund (RGHIX/RGHVX); and, the RiverPark Structural Alpha Fund (RSAIX/RSAFX).

To see an interview with David Berkowitz, please click here.

The RiverPark Funds are available through Schwab, Fidelity, and TD Ameritrade and may be purchased directly by application to the Funds. For more information on the funds, please visit www.RiverParkFunds.com, or call Matt Kelly at (212) 484-2103.

About RiverPark Advisors LLC

RiverPark Advisors, LLC is a New York-based investment advisory company and the sponsor of the RiverPark family of mutual funds. More information is available at www.riverparkfunds.com.

To determine if a Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and other information may be found in the Fund's summary or full prospectus, which may be obtained by visiting www.riverparkfunds.com or calling 1-888-564-4517. Please read the prospectus carefully before investing.

Investing involves risk including loss of principal. Additionally, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, differences in generally accepted accounting principles or social, economic or political instability in other nations. Investments in smaller companies typically exhibit higher volatility. The RiverPark Long/Short Opportunity and RiverPark Structural Alpha Funds use leverage. If the securities decrease in value, these Funds may suffer greater losses. With short sales, losses are potentially unlimited and the expenses involved with the short strategy may impact performance. The value of the Fund’s index options’ positions fluctuates in response to changes in the underlying index’s value. Selling index call options can reduce the risk of owning stocks, but limits the opportunity to profit from an increase in stock market value in exchange for up-front cash when selling the call option. Unusual market conditions or lack of a ready market may reduce the effectiveness of the fund’s option strategies which may not reduce the Fund’s volatility to the extent desired. Accordingly, purchasing Fund shares should be viewed as a long-term investment. Each fund except the RiverPark/Wedgewood is diversified as defined in the Investment Company Act of 1940. Bonds will decline in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities. There is no assurance any Fund will achieve its stated objectives. The Fund is not diversified.

The RiverPark mutual funds are distributed by SEI Investments Distribution Co., which is not affiliated with RiverPark Advisors, LLC, Wedgewood Partners, Inc., Cohanzick Management, LLC, Gargoyle Investment Advisors LLC, or their affiliates.

MacMillan Communications
Mike MacMillan/Chris Sullivan
212-473-4442
[email protected]

Source: RiverPark Advisors, LLC

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