Liberty Street Horizon Fund

Management Team

Portfolio Managers

Steven M. Bregman

Mr. Bregman is Co-founder, and President of Horizon Asset Management, Inc. As head of the Bregman Group he is the Senior Portfolio Manager of the 'Core Value Strategy', Horizon's largest composite of accounts, as well as individually managed accounts employing other strategies. In addition, Steven is a Senior Member of the Horizon Research Division, with oversight responsibilities for all research conducted and produced by Horizon. He is a member of Horizon's Executive Committee. Previously he was a Senior Investment Officer in the Private Bank at Bankers Trust Company (1985-1994) and a member of the Institutional/Individual Group, which was responsible for most of the Bank's largest individual relationships.

Murray Stahl

Mr. Stahl is Co-founder, Chairman, and Chief Investment Officer of Horizon Asset Management, Inc. Since inception, Murray has overseen the investment decisions of all Horizon strategies, while also being directly responsible for the portfolio management of the Strategic Value and Large Cap Core strategies, among others. Murray also leads the Horizon Research Division, which publishes eight unique research products. Prior to Horizon, Murray was with Bankers Trust Company (1978-1994) as a Senior Portfolio Manager and Research Analyst, managing three collective investment funds and a mutual fund for High Net Worth accounts.

Liberty Street Principals

Raymond A. Hill III

Mr. Hill is Chairman and co-founder of the Advisor. Mr. Hill is a seasoned professional with more than 30 years of institutional sales experience. In 1982, he founded and continues to manage Institutional Research Services. Since 1989, he has been an owner of PCS Securities, a brokerage firm focused on providing independent investment research to money managers and plan sponsors. In 2000 he co-founded HRC Portfolio Solutions, LLC, to raise assets for a select group of investment managers. Mr. Hill began his career at Lynch Jones & Ryan where he launched I/B/E/S into the institutional community. He received his bachelor's degree from Rutgers and also holds an MBA.

Timothy W. Reick

Mr. Reick is Chief Executive Officer and co-founder of the Advisor. Mr. Reick is a co-founder and Managing Member of HRC Portfolio Solutions, LLC. Mr. Reick maintains relationships with a myriad of investment managers, hedge funds, bank trust departments and pension plans. Since 1996, Mr. Reick has been responsible for actively working with and introducing more than a dozen third party research originators to the institutional community for Institutional Research Services. Mr. Reick earned a bachelor degree in International Finance & Marketing from the University of Miami in 1996.

Victor J. Fontana

Mr. Fontana is Chief Operating Officer and co-founder of the Advisor. Mr. Fontana has worked in the financial services industry for 30 years in a variety of different capacities including 20 years at Donaldson Lufkin & Jenrette, Inc., serving as CEO of DLJ's institutional research and brokerage subsidiary, Autranet, Inc. In 2002, Mr. Fontana founded his own firm, First Principle, specializing in the transitioning of portfolios between investment managers and subsequently joined Investment Technology Group, Inc. in 2005 to head its Transition Services Group. Mr. Fontana began his career with KPMG in 1977, is a CPA, and a graduate of Villanova University where he received his B.S. in Accounting.

Scott D. Daniels

Mr. Daniels is the Chief Financial Officer of the Advisor. Mr. Daniels has accrued more than thirty years of experience in public accounting. He is a member of the American Institute of Certified Public Accountants (AICPA), and the Stockbrokerage Committee of the New York State Society of CPAs. As managing partner and founder of S.D. Daniels & Company, P.C. (SDDCO), Mr. Daniels has dedicated over twenty-five years to his company. In addition, he has served on the board of directors of a number of companies in the financial services industry. Prior to forming SDDCO, Mr. Daniels worked for a "Big 8" accounting firm. He graduated cum laude from the University of Hartford with a Bachelor of Science in Accounting.