About Vivaldi

Vivaldi Capital Management is a privately owned wealth management firm that advises high net worth individuals and family offices.  Vivaldi was created on the belief that an independent firm was the best way to ensure our clients were served with their greatest interests in mind – both in terms of customized wealth management solutions and personalized service. By understanding our client’s objectives, we are able to provide proper guidance while keeping them well informed along the way.

At Vivaldi Capital Management, our mission is to:

  • Preserve and grow client wealth
  • Provide high quality traditional and alternative investment solutions
  • Serve as a trusted steward for our clients
David Sternberg Chief Executive Officer
Michael Peck, CFA President, Co-Chief Investment Officer
Randal Golden Chief Financial Officer
Chad Eisenberg, CPA Chief Operating Officer
Scott Hergott Co-CIO, Director of Research
Brian Murphy Portfolio Manager
Julie Kraff Treasurer
Tedman Breiter Wealth Adviser
Ilya Zlotnik Wealth Adviser
Alissa Levy Director of Client Services
Andrew Sternberg Analyst
Michael Grayson Analyst
Wealth Management

Wealth Management | Our belief is that all aspects of a client’s financial situation need to be carefully considered and analyzed in order for our clients to achieve their goals. We begin the relationship by laying out a course of action that includes the important factors that need to be considered for each client. Once the plan is agreed upon, we implement the plan using a combination of in-house expertise and trusted outside professionals. We then continue to coordinate and manage your team of advisors so your strategies are implemented according to the plan and in a timely manner.

Investment Solutions | Each client’s circumstance is different, so we feel it is essential for long term success to create personalized portfolios. We review time horizons, investment goals, risk tolerances, and special situations to determine the appropriate asset allocation. Our flexible investment platform provides our clients access to the most experienced and talented portfolio managers. Our investment solutions are suited for a wide range of investors and our consultative approach will help determine which solution is most appropriate.

Client Experience | The initial investment recommendation and implementation is only the beginning of our work together. As we invest on our client’s behalf, the markets change and personal situations evolve. We stay on top of the change by talking and meeting with clients on an on-going basis. We believe that one of the greatest values an advisor can provide a client is the ability to help them stay disciplined and true to their plan in both good and bad markets.

Alternative Investments
The Vivaldi Platform

The process of sourcing and selecting managers goes beyond simply looking at return and risk statistics.

We Understand
  • What to look for
  • What to ask
  • What to avoid

 

Manager Due Diligence

When performing due diligence the best checklist is no substitute for experience and judgement. Vivaldi’s due diligence process is methodical and rigorous. When we examine a manager, we not only review the manager and their performance history, but also their infrastructure, back office support, and service providers. Finding managers with a unique investment edge is equally as important as verifying that they have the controls in place designed to protect our client’s assets.

Once a manager is fully approved on our platform, they are continually evaluated and monitored. Our stamp of approval is our reputation and the life blood of our business. We go to great lengths to ensure our platform represents best in class managers in their respective hedge fund category.

Sourcing Evaluation Investment Monitoring

How to Work with Us

Vivaldi’s platform is designed to allow each client to construct an allocation that is unique to their own circumstance. Whether looking to round out an existing “alternatives” allocation or searching for a complete solution, Vivaldi’s team will work to accommodate your needs.

Are You New to Alternative Investments and Searching for a Complete Solution?
  • Let us show you the power of incorporating Alternative Investments into your portfolio.
  • Through the use of multiple managers, you will receive true diversification
  • A return stream that is independent from traditional investments – insulating your portfolio from the ebbs and flow of the equity markets – striving for absolute returns, and the ability to make money in any market environment.
Searching for a Unique Alternative to Complement Your Existing Portfolio?

Many investors, already familiar with alternative investments, choose Vivaldi to provide that unique alternative/strategy to complement their existing portfolio of Alternatives. Our longstanding involvement in the industry continues to yield unique opportunities not available elsewhere.

Fixed Income
Investment Approach

Our selection of individual fixed-income securities begins with “bottoms-up” screens and the use of third party rating agencies to identify companies that can provide our clients with both a steady and diversified income stream.

Portfolio Construction and our Risk-Management Approach

Vivaldi Capital Management’s approach to risk management is focused acutely on downside protection.

Over the long run, regardless of your allocation to Fixed Income and/or Alternatives, we believe minimizing overall portfolio draw-downs leads to greater portfolio values. We can show you how and why our portfolios have substantially less volatility than the overall market.

Types of Risk Risk Management Process
Interest Rate Risk & Re-investment Rate Risk
  • Mitigate both interest rate risk and re-investment rate risk through the use of a laddered portfolio
  • Monitor opportunities presented by shifts in the yield curve.
Credit Risk
  • Utilize non-traditional rating agencies and fixed income analytics to stay in front of both improving and deteriorating credit-quality situations
  • Constantly screen for merger & acquisition activity, dividend payouts, potential spin-offs and material change in company’s balance sheet.
  • Diversified between sector and issuer to avoid concentration risk and reduce systemic risk.
Liquidity Risk
  • Every portfolio is customized to account for the liquidity specifications for each client.
  • Predominantly investment grade focused with strict buy/sell guidelines to reduce liquidity risk.
  • Position sizing is kept small to avoid having liquidity concerns tied to an individual issue.
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David Sternberg Chief Executive Officer

David is a founding principal of Vivaldi Capital Management and leads the research process for selecting and approving new alternative investments for Vivaldi’s platform. He has over 31 years of experience in the financial markets and plays a lead role in the identification and selection of new alternative investment strategies. Prior to founding Vivaldi, David was a principal with FGMK Preservation Capital, where he specialized in analyzing and selecting Alternative Investments for high net worth clients.

In September 1999, he co-founded the Iron Partners LLC, a registered investment advisor with assets over $250 million, managing it until its sale in 2007. During the previous 15 years, David was a floor trader on the Chicago Board Options Exchange where he both traded and backed/trained over 20 traders employing his hedging strategies. David holds a BA degree in Business Administration from the University of Iowa.

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Michael Peck, CFA President, Co-Chief Investment Officer

Michael Peck is a partner at Vivaldi. He is currently President and Co-Chief Investment Officer and is responsible for all portfolio management as well as creating and implementing the strategic vision of the firm. Prior to Vivaldi, Michael was a Portfolio Manager at Coe Capital Management, a Chicago-based registered investment adviser and also a Financial Analyst and Risk Manager for Bond Companies. Michael graduated from Lehigh University with a Bachelor of Science in Accounting. He also holds a Masters in Finance and a Master’s in Business Administration in both Finance & Real Estate from DePaul University and is a Chartered Financial Analyst (CFA) charter holder.

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Randal Golden Chief Financial Officer

Randal is a founding principal of Vivaldi Capital Management. Since 1993, he has provided clients asset management services and solutions. Prior to forming Vivaldi, Randal served as Managing Director for FGMK/Preservation Capital Partners and Mesirow Financial where his investment philosophy centered on capital preservation and delivering absolute returns through custom portfolios of both alternative investments and fixed income securities.

Randal received a BA degree in Liberal Arts and Sciences from the University of Illinois – Urbana Champaign and is a CPWA©, a certified private wealth adviser. Randal is a Veteran of the United States Army (1987-1989) where he served as an Infantryman in the 5th Infantry Division (Mechanized).

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Chad Eisenberg, CPA Chief Operating Officer

As the firm’s first outside hire, Chad is responsible for designing the operational and reporting frameworks currently in place. He began his career within the alternative investment space working for some of the largest issuers of commercial mortgage backed securities before focusing exclusively on alternative investment strategies within the public arena. His specialties include portfolio reporting, operational due-diligence on hedge funds and constructing multi-manager portfolios.

Chad Eisenberg is a Certified Public Accountant who graduated from the University of Illinois – Urbana Champaign with an undergraduate and Master’s degree in Accountancy (Specialization Taxation). He is a candidate for the Chartered Alternative Investment Analyst (CAIA) designation.

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Scott Hergott Co-CIO, Director of Research

Scott joined Vivaldi from Citadel in New York where he worked as a Derivatives Analyst focused on Risk Management inside their Surveyor group, a multi-manager long/short equity platform that managed $13 Billion. Scott is a seasoned investment professional with 25-years of experience analyzing and managing Fund of Hedge Fund portfolios and trading equity options on the floor of the Chicago Board Options Exchange.

At Vivaldi, Scott is the quarterback behind the due-diligence process and assessing whether a new strategy is suitable for Vivaldi’s Alternative Investment Platform and, ultimately, presenting to Vivaldi’s investment committee.

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Brian Murphy Portfolio Manager

Brian joined Vivaldi as a Senior Research Analyst on the investment team with a particular focus on Vivaldi’s alternatives portfolios. Brian is responsible for all aspects of the investment process, including investment sourcing, evaluation, and monitoring. He is also a member of the firm’s investment committee. Brian has eight years of alternatives investment experience at both multi-manager and single strategy hedge funds, with a particularly deep background in long/short equity and derivatives trading strategies.

Prior to joining Vivaldi, Brian was a Director for Voyager Management, LLC, a fund of hedge funds firm. He received his B.S. in Finance from Miami University in Oxford, OH.

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Julie Kraff Treasurer

Julie Kraff serves as Treasurer to Vivaldi Capital Management and its affiliates.   In addition to her role as Treasurer, Julie has experience managing assets for family offices and helping individuals and couples navigate the economic aspects of divorce.  Julie holds a BS Degree in Management from Tulane University, an MBA with a concentration in Finance from the University of Chicago, and received her Certified Public Accountant License in 1985. Julie is also a Certified Divorce Financial Analyst (CDFA).  Her prior work experience includes Public accounting with Alexander Grant & Company (Now Grant Thornton), Vice President of Asset management with Balcor/American Express and numerous years of experience in all aspects of Real Estate as a consultant to home builders, developers, and investors.

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Tedman Breiter Wealth Adviser
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Ilya Zlotnik Wealth Adviser

Ilya is an Wealth Adviser at Vivaldi with a particular focus on clients in the TD Ameritrade Advisor Direct referral program. Prior to joining Vivaldi, Ilya worked as an Investment Consultant at TD Ameritrade where he advised high net worth families. He also spent a period of time as a Senior Associate in the Private Wealth Group at RMB Capital Management.  Ilya received a BS degree in Finance from the Kelley School of Business at Indiana University and is currently finishing up his MBA with concentrations in Finance and Entrepreneurship from the Booth School of Business at the University of Chicago. He is a candidate for the Chartered Alternative Investment Analyst (CAIA) designation.

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Alissa Levy Director of Client Services

As the Director of Client Services for Vivaldi Capital Management, Alissa is actively involved with clients, investment managers and fund service providers. During her prior work experience, she has held positions in customer service, leadership of an election fundraising campaign, and as a legal assistant. Alissa joined Vivaldi Capital Management in 2012. Alissa received her BA in Political Science and a Certificate in Business from the University of Wisconsin – Madison. She graduated with multiple honors including distinction in the major.

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Andrew Sternberg Analyst
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Michael Grayson Analyst

Michael Grayson holds a B.A. from Colgate University where he studied Political Science and Economics. Michael was a member of the Men’s Division I Varsity Golf Team and was nominated to the Colgate University Athletic Leadership Academy. During his time, Michael helped coordinate the Sherburne-Earlville Adoption Program which sponsored a class of third grade students at the local elementary school. He was also active in Colgate’s Volunteer Income Tax Assistance program, in which the group filed over 700 collective income tax returns for low-income families. In his spare time, Michael enjoys spending time with his family and playing in recreational sports leagues with his friends.