RiverPark Focused Value Fund

RiverPark Focused Value Fund will seek long-term capital appreciation. The plan is to focus on large cap domestic stocks, with particular focus on “special situations” such as spin-offs or reorganizations and on firms whose share prices might have cratered. They’ll buy if it’s a high quality firm and if the stock trades at a substantial discount to intrinsic value. They’ll sell when the stock approaches their target price for it. The manager will have a limited ability to invest in illiquid securities, to short and to leverage the portfolio. David Berkowitz will be the portfolio manager. Mr. Berkowitz co-founded and co-managed Gotham Partners, a value-oriented hedge fund (1992-2002), and was the Chief Investment Officer for a New York family office (2003-2005). In 2006, he founded Festina Lente, a long-only, concentrated investment partnership that he managed through 2008. From 2009-2013, he held various positions at Ziff Brother Investments, where he was Partner as well as the Chief Risk and Strategy Officer. The expense ratios are 1.25% (Investor) and 1.00% (Institutional) after waivers. The minimum initial investment is $1,000 for Investor shares and $100,000 for Institutional ones.