Brian L. Gevry, CFA, is the Chief Executive Officer and Chairman of the Board of Boyd Watterson Global Asset Management Group LLC (“Boyd Watterson Global”), the parent company of Boyd Watterson Asset Management, LLC (“Boyd Watterson”) and Amber Infrastructure Group. Brian is also the Chief Executive Officer and Chief Investment Officer of Boyd Watterson. He is responsible for the strategic leadership of the companies and oversight of the investment processes and committees. In his executive leadership role, he focuses on the development and execution of the vision, cultural values, goals, and strategies, allocating resources as necessary to meet client needs while achieving the long-term success of the organization. He also guides the investment process, including developing investment philosophy and procedures across all asset classes to ensure Boyd Watterson Global’s investment management subsidiaries deliver investment results that meet client expectations while maintaining moderate levels of risk. Brian joined Boyd Watterson’s predecessor firm, Duff & Phelps Investment Management, in November of 1991. Prior to becoming CEO and CIO in 2006, Brian held various management positions including Chief Operating Officer and Deputy CIO. Brian has worked to shape the organization’s foundational culture ensuring cohesive investment principles, philosophy, and procedures across asset classes. He emphasizes inclusivity and transparency to ensure all employees understand and demonstrate Boyd Watterson’s values and beliefs. Additionally, Brian established the Strategic Management Process, through which he sets and oversees long-term company and line of business objectives. He has been instrumental in the company’s growth which continues to accelerate with expanded asset classes and new product offerings comprising real estate, fixed income, equity, and infrastructure strategies. Throughout his tenure as CEO, Brian has expanded Boyd Watterson’s footprint, opening offices in Bloomfield Hills, MI, Washington, D.C., Tampa, FL, Denver, CO, and most recently, West Hartford, CT, to join the already established headquarters in Cleveland, OH, and office in Chicago, IL. With the addition of Amber Infrastructure, Brian has taken the business to new levels, expanding into 12 countries. Cleveland, OH New York, New York New York, New York Timothy M. Hyland is on the Committee of Managers for Boyd Watterson Asset Management and is President of the company. Additionally, Tim is the National Director of Sales, Marketing, and Client Service. He is responsible for setting the strategic direction of the Distribution and Marketing teams, formulating annual plans, and overseeing their implementation. It is through his passion for client service and determination to meet client expectations that he maintains and grows existing relationships with consultants and institutions and creates new relationships. Tim is also focused on monitoring market trends in order to provide insight in the development of marketing materials and new products. Tim’s relationship with Boyd Watterson began in October of 1994 when he joined the predecessor firm Duff and Phelps Investment Management Co. as Executive Vice President and National Sales Manager. Under his leadership, the firm has significantly expanded relationships, as well as assets under management, and has established a strong national presence. Prior to joining Duff & Phelps in 1994, Tim was a Senior Vice President at McDonald & Co. Securities, Inc., earning a prestigious distinction in the firm’s Presidents’ Council for top producers. Cleveland, OH Timothy O. Horne is Head of the Boyd Watterson real estate division and of the Denver, Colorado office. Together with the Chief Executive Officer, he is responsible for the development and implementation of the long-term strategic and annual business plans. In his role as leader of the real estate division, Tim leverages the Boyd platform for cohesiveness, efficiency, and results. He manages the entire real estate team, the GSA focused open-end real estate fund, the maintenance and continued growth of the company’s real estate investment footprint and develops and maintains key strategic relationships. Tim provides senior level support and guidance across the company, personifying and maintaining Boyd Watterson culture and values. Tim’s resume includes a long tenure with the General Services Administration where, prior to joining Boyd Watterson in February of 2021, he was Regional Commissioner of the Public Buildings Service for GSA’s Region 8 and Acting Administrator of GSA. His extensive career in the government space provides a solid framework for his contribution to Boyd’s vast government leased real estate portfolios. Denver, CO New York, New York New York, New York As the Head of Boyd Watterson Fixed Income, Michael R. Vandenbossche, CFA, focuses on investment strategy formation and portfolio management of Boyd Watterson’s Fixed Income line of business. Responsible for ensuring investments follow client guidelines, with the goal of realizing client objectives and outperforming applicable benchmarks and competitor peer groups, while managing downside risks. He oversees the daily execution and implementation of the investment process. Mike started with the company in October of 2014 as a Senior Portfolio Manager before transitioning into his current role as CIO. Previously, Mike served as a Portfolio Manager with Ambassador Capital Management and Munder Capital Management, where he was a member of the Investment Strategy team, headed the Captive Insurance team, and managed the corporate and CMBS sectors. His resume also includes time at Victory Capital Management and First of America Bank in such roles as Portfolio Manager, Asset/Liability Manager, and Municipal Analyst. Bloomfield Hills, MI Thomas J. Tarantino is Chief Operating Officer, Chief Legal Officer and Chief Compliance Officer and is responsible for the management of the day-to-day operations of the company, including the technology and human resource teams. He also oversees the Legal department and regulatory compliance function, including internal legal and compliance personnel. In addition, Thomas oversees the management of investor relations department and the new product implementation team. Thomas joined Boyd Watterson in January of 2016 and played an integral role in the establishment and growth of the internal Legal department, as well as the expansion of compliance processes and practices, keeping pace with company growth and increasing regulatory demands. Thomas has also supervised the creation of the new product implementation group and dedicated investor relations team. He has more than 25 years of law experience focusing on such areas as corporate and business law, investment adviser regulation, securities law, commercial real estate, government law, and public finance. Cleveland, OH Don Haisch is the Chief Financial Officer for Boyd Watterson Global and oversees all aspects of the strategic and day-to-day global financial operations. Don’s leadership responsibilities include corporate accounting, budgeting, financial planning and analysis, regulatory reporting, funding, treasury, and financial reporting for the management company, subsidiaries, and the funds. Don also supports and represents the firm with investors, regulators, and other external constituencies. Don joined Boyd Watterson in December 2024. Don has an extensive background in both the alternative asset management and real estate spaces. Prior to joining Boyd, Don was a Chief Accounting Officer at Ares Management for over ten years where he worked in both the Real Estate Debt vertical and the Secondaries vertical. In the Real Estate Debt vertical, Don was responsible for Ares Commercial Real Estate Corporation (a NYSE listed commercial mortgage REIT) and was integral in the launch of two real estate debt open end funds. In the Secondaries vertical, Don contributed to the success and significant growth of Ares Private Market Fund (a private equity secondaries registered investment company). Prior to Ares, Don was the Senior Vice President of the Americas for six years at CBRE where he oversaw all accounting and finance across all CBRE transactional and management businesses in the Americas (CBRE’s largest region). Cleveland, OH Washington, DC James A. Waler is the Chief Technology Officer and is responsible for constructing, evaluating, and optimizing Boyd Watterson’s technology infrastructure and framework. He works closely with the CEO and key executives to identify and implement the best technologies and services to meet strategic long-term objectives. James also provides oversight and guidance to the IT and Operations departments, ensuring systems and practices are in place for customer security and satisfaction. James began working for Boyd Watterson in July of 1990 when it was under the name of its predecessor, Duff & Phelps Management Co. James has been a critical component in the creation of proprietary systems throughout the company and in streamlining and enhancing processes and procedures. Cleveland, OH Robert Law, after years serving as Chief Investment Officer of Boyd Watterson’s real estate division, has earned the honorable role of Emeritus. Robert is responsible for transferring his vast knowledge of the real estate business to those responsible for driving the execution of investment processes. He is a valuable resource for members of the team in the development, maintenance, and oversight of real estate investment strategies and products. In collaboration with the Chief Investment Officers, Bob guides the real estate team in the development and execution of long-term and tactical business plans and is involved in vetting each asset acquired as a member of the Investment Committee. Bob joined Boyd Watterson in May of 2009 with deep roots in the real estate sector. He spent 14 years as the Managing Director of Real Estate Investment Management at the Mercantile Bank and Trust Company in Baltimore. During that time, he grew the AFL-CIO’s Building Investment Trust from $200 million to $1.9 billion over a 10-year period. His career has spanned more than three decades and is highlighted at Boyd Watterson by his close involvement in the establishment of the real estate line of business and subsequent real estate funds and programs. Offsite New York, New York New York, New York Brian A. Convery, CFA, is the Co-Chief Investment Officer of Boyd Watterson’s real estate division. Brian co-leads the investment process and discipline, developing investment philosophy, strategy, and procedures to ensure Boyd Watterson delivers investment results that meet client expectations while maintaining moderate levels of risk. He guides, alongside the CEO and other CIOs, the Macro and Investment Policy Committees, focusing on evaluating the broad investment market and guiding risk and return positioning. Brian is responsible for working with the Head of the real estate division to develop and implement long-term strategic and annual business plans, overseeing the investment initiatives. He also supervises the Research team, ensuring high-level strategic focus and performance. Prior to joining Boyd Watterson in 2011, Brian had an extensive career highlighted by roles including a management consultant focusing on corporate strategy and an investment analyst specializing in high-yield bonds. His initial role with Boyd was Portfolio Manager of Credit research. His initiative and innovation quickly elevated his position to his current role, advising on strategic direction and facilitating new product development and execution. Within the real estate division, Brian serves as a portfolio manager and member of the Investment Committee. He was instrumental in the development and launch of the firm’s state and local government focused open-ended real estate fund and open-ended REIT product and is an integral part of new product development. He has also driven the development and growth of the Research and Data Lab, a facet of the company focusing on qualitative and quantitative decision making, which he now directs. Cleveland, OH Kelly leads Boyd Watterson’s Human Resources team with a focus on cultivating a strong, people-first culture. She oversees all aspects of HR operations, including talent acquisition, organizational planning, training and development, performance management, and compensation and benefits strategy. As a strategic member of the executive team, Kelly plays a key role in aligning HR initiatives with the company’s strategic long-term goals, helping to attract top talent and ensuring a positive, high-performing workplace. Since joining Boyd Watterson in 2021, Kelly has brought over 18 years of combined HR and legal experience to the role. Prior to her time here, she spent eight years at a multi-state custom home builder, advancing to HR Director. Earlier in her career, she worked as an OSBA Certified Employment Law Paralegal for nearly a decade, giving her a solid foundation in employment law and compliance. Cleveland, OH New York, New York Renee C. Copsey, Executive Administrator, provides support to the Chief Executive Officer (CEO) and other top-level executives in the development and completion of long-term strategic plans and annual business plans for Boyd Watterson’s various lines of business. She assists in the development of company-wide policies and procedures and serves as supervisor of the administrative team, responsible for the hiring, training, managing, and development of the group. Renee began her career with the firm in June of 2015 and worked in several administrative positions before transitioning to her current role. With excellent organizational skills, an eye for detail, and the ability to work well with people at all levels, Renee is a valued member of the executive team. Cleveland, OH Washington, DC Christopher G. Ried, CPA, is Chief Financial Officer for Boyd Watterson responsible for overseeing the accounting functions for the company. He ensures the accurate and timely completion of related financial reports, manages external vendors that provide accounting and fund administration, and assists the Real Estate team with preparing meaningful financial analysis, forecasting, and budgeting in order to enhance investor return. Prior to joining Boyd Watterson in October 2021, Chris served as a Senior Manager at RSM where he worked on financial statement audits of real estate companies, including property joint ventures, private equity funds, and separate accounts. Cleveland, OH New York, New York As Chief Financial Officer for the Real Estate Funds, Kathleen B. Herrin is responsible for the accounting, finance, cash management, and external audit functions for the Boyd Watterson Real Estate funds and programs. Kathy ensures that each accounting function and report is completed accurately and timely, providing meaningful analysis. She maintains relationships with third-party fund administrators, auditors, and banking institutions, and provides direction, mentoring, and training to her team. Kathy has built and continues to improve processes that result in efficient and effective completion of the many required deliverables. Prior to joining Boyd Watterson in December of 2010, Kathy served as a Vice President, Controller, and Asset Manager for a boutique Chicago real estate investment firm where she was responsible for overseeing the accounting and finance functions for real estate investment accounts. Kathy has extensive experience in all aspects of real estate accounting and finance, having also worked in management positions at ORIX Real Estate Equities and Lasalle Partners. Chicago, IL New York, New York New York, New York Michael E. Bee serves on the Committee of Managers for Boyd Watterson Asset Management. He is responsible for providing excellent service and recommending income solutions to clients and prospective clients. He also reviews trends within the institutional marketplace to assist the portfolio management team in the development of new products. Additionally, Michael serves as an equity strategist and portfolio manager, overseeing the company’s equity assets under management. Michael has expertise in several areas of the business dating back to when he began his career in October of 1990 with Boyd’s predecessor, Duff & Phelps Investment Management Co. He has served in various roles over the years and has remained focused on the client. Cleveland, OH Michael J. Shay is the Director of Trading Operations responsible for overseeing the operations team, monitoring workflows, identifying backlogs, and assisting with accuracy and efficiency. Mike’s core functions include reconcilement, performance, trade settlement, new accounts, account maintenance, proxies, regulatory mailings, and Fixed Income trading. Importantly, Mike creates an open-dialogue environment between the operations team and our internal and external partners to ensure back-office operations run efficiently. Prior to joining Boyd Watterson in April of 2025, Mike was the Investment Operations Manager with Strategic Value Bank Partners, LLC. He also worked as a Senior Research Analyst within KeyBank’s Multi-Strategy Research team. Cleveland, OH As Co-Chief Investment Officer of the Real Estate team, Zachary L. Segal co-leads the investment process, focusing on current real estate products, new product development, and strategic initiatives. Zach is Portfolio Manager on a number of the company’s funds and sits on the respective Investment and Allocation Committees. He is responsible for collaborating with other CIOs in the development, review, and continual improvement of the company’s investment approach and themes. Further, he is a conduit between the investment team and client communications, ensuring understanding and transparency. Zach is also a leader in the research, proposal, and launch of new investment products. Prior to joining Boyd Watterson in April of 2022, Zach was a Partner and Special Situations Group Director of Asset Management at The Townsend Group, executing and managing real estate private equity investments across property types, markets, and structures. Zach also held real estate finance and principal investing roles at Polinger Development Co., Goldman, Sachs & Co., and Charles River Realty Investors, LLC. During the global financial crisis, Zach served as Director of Strategic Initiatives and Credit Market Programs at the U.S. Department of the Treasury, where he managed Troubled Asset Relief Program (TARP) investments. Cleveland, OH Casey F. Wendeln is Co-Deputy Chief Investment Officer of the Real Estate division. He serves as the primary portfolio manager for the Boyd Watterson state and local government focused real estate fund and a secondary portfolio manager for the Boyd Waterson GSA focused open-end real estate fund. In these roles, he is responsible for the monitoring and oversight of all activities of the funds, including acquisition and disposition activity, asset management and leasing, balance sheet and capital markets activities, and client relations and reporting. Casey is the Co-Head of Asset Management and Head of the Boyd Watterson Chicago office. He provides oversight for the LIFE fund and separate account activities. In addition, Casey is a member of the Real Estate Investment Committee, Allocation Committee, Finance Committee, and chairs the Underwriting Committee. Casey began his career with the company in 2009 and was an instrumental part of building the Real Estate Investment team and its investment vehicles from the ground up. Prior to joining Boyd Watterson, Casey was an Associate in the Capital Markets Group at Jones Lang LaSalle in Chicago, working on $2.4 billion in investment sales of office, industrial, and retail properties nationwide. Chicago, IL Timothy D. Walsh is a Co-Deputy Chief Investment Officer within Boyd’s real estate division and is based out of Connecticut. He is responsible for managing, along with the Co-Portfolio Manager, the firm’s open-ended REIT product. He works to develop and execute strategies to grow and maintain the REIT, while also optimizing returns through asset allocation and selection and process improvements. Tim serves as a member of the Real Estate Investment and Allocation Committees and focuses on special initiatives across the real estate division. Further, he works with the Distribution team to ensure clear communication and enhance transparency. Prior to joining Boyd Watterson in July of 2023, Tim spent 17 years of his career at UBS Asset Management as a Managing Director, member of the Investment and Management Committees, and Senior Portfolio Manager for the firm’s open-end, core-plus fund. He also spent a decade in acquisitions, closing more than $2.5 billion in fee simple, joint venture, and participating mortgage transactions across all property types and all major Northeast and Southeast markets. Tim’s diverse experience also includes eight years in property management, development, and construction in Southern California, Las Vegas, and Chicago. Offsite Stephen A. Perry sits on the Board of Directors for Boyd Watterson Asset Management. In addition, he serves in the capacity of a Strategic Advisor within the company. In his role as Strategic Advisor, Stephen facilitates the Strategic Management Process through which the CEO manages the firm and develops long-term and line of business objectives, ensuring goals and action plans are specific and measurable. He is also a member of the Real Estate Investment Committee, where he assists in the review of potential property acquisitions and provides insight into the government space. Since joining Boyd Watterson in January of 2015, Stephen has helped guide the company through a period of extreme growth, thanks in part to his results-oriented personality and diligence. Stephen’s extensive career includes roles as the President of the Pro Football Hall of Fame, the 17th Administrator (CEO) for the U.S. General Services Administration (GSA), the Director of the Department of Administrative Services for the State of Ohio, and Senior Vice President of Human Resources at Timken Company. Offsite Thomas M. Cicotello is a Portfolio Manager in the real estate division and Co-Head of Asset Management. He is responsible for developing and maintaining key strategic relationships with real estate owners, developers, brokers, government staff, civic leaders, and other partners, and for establishing a pipeline of acquisitions for the Boyd Watterson real estate programs. In January of 2018, Tom joined Boyd Watterson and led the opening of the company’s office in Washington, D.C. His role has since elevated to Head of the D.C. office, where he embodies and maintains Boyd Watterson culture and values. Most recently, he guided the opening of Boyd Watterson’s newest office in Denver, Colorado. Prior to joining Boyd, Thomas was a Senior Asset Manager and Director of Commercial Leasing for the privately held Clark Enterprises, Inc. (CEI) of Bethesda, Md., where he was responsible for the oversight of management, leasing, and capital improvement activities associated with CEI’s commercial and hospitality portfolio. Washington, DC Brian R. Orr is a Portfolio Manager across the real estate products, focusing primarily on GSA/ federal leased properties and is responsible for deeply understanding all aspects of those assets. He has a thorough understanding of asset and portfolio risks and works with the portfolio team to develop appropriate mitigation strategies to actively identify opportunities for improving portfolio performance. He is further responsible for communicating his expertise internally to assist in the strategic management of the real estate programs, and externally to provide transparency to investors. Further, Brian is responsible for maintaining relationships with developers, owners, brokers, and other real estate professionals. Brian came to Boyd Watterson in July of 2014 from Ernst & Young, LLP where he managed a team on various investment consulting, valuation, and capital markets engagements for the Transaction Real Estate Advisory Services group. While at Boyd, Brian has remained focused on driving the total return for the company’s GSA focused open-end real estate fund. Chicago, IL Kristen L. Albano is a Portfolio Manager across the real estate products, focusing primarily on the state and local government leased properties while also concentrating on asset-specific strategies, portfolio composition objectives, and liability management. Kristen makes frequent site visits in order to understand the assets, markets, and owners where the funds are invested so she may actively identify opportunities for portfolio improvement and assist the firm with the acquisition of additional assets. She serves as an active communication conduit between the asset and product portfolio management teams, while also strengthening client-facing interaction and consultant relationships. Prior to joining Boyd Watterson in July of 2014, Kristen worked at IndCor Properties, a Blackstone-owned company, as a Manager within the Finance Group. Kristen began her career with Boyd as an Asset Manager and held positions with ever-increasing responsibilities, leading to her current role in portfolio management. Chicago, IL Eric F. Dowling is the Head of Acquisitions for GSA/federal leased properties. He manages a team of professionals focused on the sourcing, underwriting, negotiating, and closing of real estate investments across the federal-leased sector that meet the investment criteria determined in concert with the Portfolio Management team. He is responsible for developing and maintaining key relationships with real estate owners, developers, brokers, and government staff to ensure Boyd Watterson’s significance in the space and for establishing a pipeline of acquisitions to meet investor needs. Eric joined Boyd Watterson in July of 2015 with several years of development, underwriting, acquisitions, and asset management experience to his credit. He has made a significant impact in the rapid growth of Boyd’s real estate funds and programs. Chicago, IL Joseph V. Capra is Head of Acquisitions for state and local government leased properties. He manages a team of professionals who source, negotiate, underwrite, and close on real estate assets leased to state, county, and municipal governments nationwide. Joe is responsible for executing the strategy to deliver income-focused returns to investors. He is also an instrumental part of the company’s structured financing efforts, negotiating numerous joint venture agreements, forward commitments, and mezzanine loans. While at Boyd, Joe has been a large part of the growth of the GSA focused open-end real estate fund as well as growing assets in the state and local government focused real estate fund since its inception. Joe has more than 28 years of experience in real estate principal investing, investment banking, commercial real estate lending, and financial markets. Prior to joining Boyd Watterson in October of 2015, Joe was the Director of the Midwest Capital Markets Group at DTZ (now Cushman & Wakefield). Chicago, IL Nicholas M. Nigro is Head of Acquisitions for Boyd Watterson’s first open-end real estate REIT. He oversees a team of professionals focused on sourcing, underwriting, managing, and closing acquisitions anchored by government contractors and other quasi-government agencies across asset classes. Nicholas has an attention to detail fine-tuned through more than a decade of institutional real estate experience that is invaluable to the due diligence process. Nicholas works closely with the Portfolio Management team to acquire assets that fit investment criteria, while establishing and cultivating relationships with brokers, investors, lenders, and other market participants. He joined the firm in February of 2021, previously serving as a Director at Bridge Investment Group where he oversaw Midwest regional acquisitions and the asset management of a 2.3 million square foot value-add office portfolio. He also worked at Argentic Investment Management, a New York-based affiliate of Elliott Capital Management, where he managed the underwriting, due diligence, and closing of debt investments across asset classes. Chicago, IL As Regional Director of Asset Management for the Eastern region, Frank Coppola is responsible for overseeing the asset managers of properties located in the East. He works with his team to ensure portfolio performance, focusing on maximizing return while mitigating risk. Prior to joining Boyd Watterson in June of 2019, Frank was a Portfolio Manager with Lincoln Property Company where he oversaw real estate assets in southwest Washington D.C. He also served as a Group Manager, Vice President, and Team Leader with JLL, managing all financial and operational aspects within a portfolio of properties in the DC Metropolitan Area. Washington, DC Della G. Wegman is the Regional Director of Asset Management for the Western region, responsible for overseeing the regional asset managers, providing guidance and expertise. Della works with her team to maximize return and mitigate risk within the portfolio of assets they manage by focusing on lease renewal, expense management, and hold/sell analysis. Prior to joining Boyd Watterson in March of 2021, Della was a Managing Director of the Central United States Asset Management for EverWest Real Estate Advisors, where she oversaw the investment performance of a portfolio valued at $1 billion. She also served as a Senior Vice President at Amstar Group, managing assets throughout the United States on behalf of a private family and public pension fund clients. Denver, CO Ryan A. Zader is the Regional Director of Asset Management for the Central region, responsible for overseeing a team of asset managers, providing guidance and expertise. Ryan works with his team to maximize returns and mitigate risk within the portfolio, focusing on lease execution, relationship management, operational & financial reporting, valuations, and dispositions to achieve fund objectives. Prior to joining Boyd Watterson in May of 2023, Ryan was a Senior Vice President at CP Group, responsible for leading the firm’s acquisition and disposition efforts in the Denver & Phoenix markets. He was also responsible for the oversight of property management, construction management, leasing, and all other asset management-related functions in those markets. Chicago, IL Hugh K. Nisbet works on the Acquisitions team and is responsible for maintaining a robust pipeline and procuring properties for Boyd Watterson’s state and local government focused open-end real estate fund. He focuses on sourcing and analyzing potential properties which adhere to the investment guidelines and are portfolio enhancing, maximizing investor return and minimizing risk. Hugh joined the firm in January of 2017 and was a member of the Boyd Watterson team that launched the second private open-end real estate fund. Prior to coming on board, he was a Senior Underwriter at KeyBank where he was responsible for the CMBS and Fannie Mae loans. His 23-plus years of experience in financial services also includes serving as a consultant at a variety of financial institutions in which he focused on evaluating risk associated with loan portfolios. Chicago, IL Trenton M. Joyce is part of the Acquisitions team and is responsible primarily for deal evaluation. He performs underwriting analysis, due diligence assessments, data gathering, market analysis, and tenant research to ensure prospective acquisitions meet investment criteria as determined by the portfolio management team. Prior to joining Boyd Watterson in January of 2018, Trent was a Commercial Mortgage Analyst for Fitch Ratings where he assessed credit characteristics of U.S. and Canadian Commercial Mortgage-Backed Securities (CMBS) with average asset-values of $1 billion by investigating legal documents, analyzing historical financial statements, and evaluating economic, demographic, and real estate market data. He also served as a Structured Finance Analyst for US Bank where he built and maintained Mortgage-Backed Security (MBS) and Asset-Backed Security (ABS) waterfall distribution models. Denver, CO Daniel A. Orcutt is an Asset Manager on the Real Estate team in the Washington, D.C., office. Dan manages a portfolio of assets in Washington, D.C., Virginia, Maryland, and New York City with an emphasis on minimizing risks, maximizing returns, and continually monitoring performance. He is relationship focused, ensuring client, tenant, and leasing stakeholders needs are met. He maintains close oversight of property management and leasing functions performed by service partners, performs financial analysis, and reviews valuations. Prior to joining Boyd Watterson in September of 2021, Dan accumulated nearly 30 years of experience in the industry serving in such positions as the mid-Atlantic market leader and Director of Management Services at Newmark, as well as Director at CBRE, where he was responsible for a portfolio consisting of 10 million square feet of office and industrial assets throughout the Washington Metro area. Washington, DC Christopher E. Winn is an Asset Manager for the real estate team located in the Denver, CO, office. He is responsible for a portfolio of real estate assets in the Western Region. His proactive approach helps him obtain tenant retention, asset preservation and improvement, and maximum returns. Chris directs all aspects of managing the properties, including administration, operation, and financial oversight. Before joining Boyd Watterson in September 2021, Chris compiled 18 years of experience within the industry serving in such positions as Director of Asset Management at Everwest Real Estate Investors and Asset Manager for Consolidated Investment Group, where he managed a portfolio of industrial, office, and multi-family properties. Denver, CO Within the Asset Management team, Steve Riley oversees a portfolio of real estate properties, focusing on maximizing lease potential, minimizing risk, and continually monitoring performance. He works closely with property managers, agency officials, and tenants to ensure needs are being met, oversees all property management functions performed by third-party vendors, and reviews budgets, financial packages, and valuations. Before joining Boyd Watterson in September 2019, Steve served as a Senior Associate in Jones Lang LaSalle’s Capital Markets Division, focusing on government related and institutional investment sales as a part of more than $750 million in transactions. Steve also worked at Brandywine Realty Trust and First Potomac Realty Trust where he focused on asset management, transactions, and development activities. Washington, DC As a real estate asset management team member, Ryan P. Gerrety oversees the operation of a portfolio of properties, primarily located in the East region. He is responsible for managing capital expenditures, maximizing potential for lease renewal, maintaining physical integrity of the properties by oversight of property management teams, and staying informed of market trends in order to mitigate risk and pursue additional value. Prior to joining Boyd Watterson in February 2020, Ryan was a Real Estate Manager with CBRE where he managed all aspects of various assets in Washington D.C. and Virginia, including day-to-day operations, annual budgeting, and capital project planning. Additionally, he worked as an Account Executive with CoStar Group in Washington D.C. where he was responsible for sales of the company’s suite of products. Washington, DC As an Asset Manager, Eshaan Varma oversees a portfolio of real estate holdings and works to achieve return objectives within set risk parameters. He partners with property managers to ensure the efficiency of property operations and to maintain the physical integrity of the assets. Additionally, Eshaan collaborates with leasing brokers to attract tenants and builds relationships at the tenant level, maximizing potential for lease renewal. Before joining Boyd Watterson in 2019, Eshaan worked at JPMorgan within the Tax Oriented Investments group, where he held various positions in analytics and asset management of affordable housing properties. Chicago, IL Julia S. Jacobsen is part of the real estate asset management team, responsible for the administration, operation, and financial oversight of a portfolio of properties, primarily located in North and South Carolina, Virginia, West Virginia and Georgia. Her focus is on maintaining asset performance while mitigating risk, accomplished by overseeing third-party vendors for property management, building and maintaining relationships with tenants and tenant agencies, and reviewing budgets, financial packages, and valuations. Julia joined Boyd Watterson in November of 2020 after gaining experience at Spaulding & Slye Investments. She was a Senior Analyst in the company’s Acquisitions division before being promoted to an Assistant Vice President in the Asset Management division where she managed a portfolio consisting of office, retail, and multi-family product in Chicago, Philadelphia, and Atlanta. Washington, DC Jeffrey W. Hurvitz is an Asset Strategist, leading the Real Estate Development team with a focus on ground-up development and value-add investments. The Development team is involved throughout each project, with oversight for sourcing, underwriting, partner selection and negotiation, leasing, closing, and construction of real estate assets across the country. Jeff also works closely with the Asset Management team to identify asset-level issues, develop mitigation strategies, and implement those strategies across the portfolio with responsibilities including the repositioning and/or disposition of owned assets. Jeff formerly served as an Asset Manager with the firm, directing all daily operations, property management, new and renewal leasing, lease administration, capital expenditures, and reporting for a portfolio of assets totaling 3.4 million square feet valued at over $1.2 billion. Prior to joining Boyd Watterson in April of 2019, Jeff was a Vice President at Jones Lang LaSalle (JLL) on the Government Investor Services brokerage team. Jeff also has experience as a Registered Representative with a national securities broker-dealer. Washington, DC As a Portfolio Strategist, Silas Campbell is responsible for developing effective real estate portfolio solutions based on high quality data, strong relationships, and prior leadership experience in private sector asset management and government. Silas works closely with Boyd Watterson’s internal teams and external stakeholders to identify opportunities that align tenant needs with fund objectives, maximizing outcomes for all parties involved. Silas originally joined Boyd Watterson in April of 2021 as an Asset Manager after being employed with the General Services Administration (GSA) for over a decade. As an Asset Manager, he directed property management, new and renewal leasing, lease administration, capital expenditures, and reporting for a portfolio of assets totaling 2.4 million square feet. While at the GSA, he served in various positions including Business Center Manager and Asset Manager for the Region 8 Portfolio Management Division, overseeing an 18 million square foot portfolio of federal and leased facilities. Silas also led multiple national portfolio initiatives to align tenant agency project needs with funding sources. Denver, CO Brant T. Goodrich is a Portfolio Strategist focused on providing innovative solutions for optimizing Boyd Watterson’s alternative investment portfolios through analysis, portfolio modeling, deal structuring, sector and market allocations, and process improvements. Brant’s experience in analytics helps him to identify effective improvements to new and existing portfolios. Brant joined Boyd Watterson in 2019 supporting the Real Estate Asset Management department where he eventually oversaw a portfolio of state and federal leased properties in southern Texas. He moved to the Real Estate Acquisitions department in 2022 where he assisted with sourcing, underwriting, and closing real estate assets anchored by various quasi-government tenants, and to a lesser extent, federal, state, and local government agencies. He created various models for robust deal and portfolio analysis by integrating traditional financial underwriting with Boyd’s suite of quantitative and fundamental research tools. These models helped drive fund and deal structuring and portfolio positioning. Prior to joining Boyd Watterson, he served as a Senior Performance Analyst and a member of the Impact Investing Committee at Marquette Associates. Chicago, IL Thoriq A. Hardian is Vice President, Accounting Manager, Real Estate, who, in collaboration with the Real Estate division’s Chief Financial Officer, is responsible for the oversight of the finance and accounting functions associated with the Boyd Watterson Real Estate Investment funds. His focus is on managing cash flow from investors, properties, and lenders for use in property acquisitions, as well as maintaining distributions of excess cash to investors, interest payments, and property expenditures. Additionally, Thoriq serves as the primary contact during the financial audit process. Thoriq joined the firm in September of 2016 with close to a decade of experience in the industry, having previously worked as a Senior Fund Accountant at KeyBank and a Senior Operations Specialist/Senior Fund Accountant for the Building Investment Trust (BIT) at PNC Bank. Cleveland, OH Larry Murphy works with the Treasury team and focuses on executing all financing activities for the real estate funds and programs. He specializes in loan document review and serves as the point of contact for loan assumptions. Larry closed more than $300 million in acquisitions within his first two years with the firm. He also assists with strategic decisions regarding loan origination and refinancing activities across the funds, while aiding in the transition of the cash management activities to the Treasury team. Larry joined Boyd Watterson in May of 2018, arriving at the firm with 24 years of experience within the fields of financial services and real estate. He was a Senior Analyst for Key Bank where he focused on loan origination and underwriting for Commercial Mortgage-Backed Securities (CMBS). Chicago, IL Mark E. Montgomery is a Construction Manager focused on establishing practical sustainability goals and metrics for the Boyd Watterson real estate portfolio, while overseeing capital cost management and control processes. Since joining the firm in July 2020, Mark has coordinated all construction-related activities, providing managerial oversight and technical expertise to major capital projects, energy and sustainability compliance, and ensuring all projects follow the responsible contractor policy. Mark previously served as the Vice President for Project and Development Services for JLL, as well as the Director of Project Management for CBRE. Washington, DC Steven Zhang is an Acquisition team member whose primary focus is providing analytic and strategic support to the Real Estate Acquisition team, specifically for federal government leased assets. He assists with sourcing and screening potential acquisitions, performing detailed financial analysis and reporting. Prior to joining Boyd Watterson in December 2019, Steven held such positions as Associate Director at Fosun Property Holdings in real estate acquisition, as well as Assistant Vice President at Quantum Capital Partners in real estate capital markets. Chicago, IL Keith S. Schuman is part of Boyd Watterson’s Acquisition team. His responsibilities include identifying and underwriting potential acquisitions, performing due diligence, and assisting in the closing process. Communication is a large part of Keith’s role as he discusses deals with outside brokers or sellers, coordinates site visits, and creates quantitative analysis and reporting. Since joining the firm in December of 2017, Keith has worked on acquisitions for both the GSA focused and state and local government focused open-end real estate funds. Previously, he was a Due Diligence Analyst at Inland Real Estate where he worked on retail, multi-family, and medical office transactions. Chicago, IL Within the Acquisitions department, Nikola Tatic is focused on assisting the Real Estate team in acquiring quality assets that meet return expectations within the defined risk profile. He achieves this through his meticulous market and cash flow analysis and tenant research. Nikola plays a key role in managing the due diligence process for prospective acquisitions while remaining apprised of pipeline activity. Prior to joining Boyd Watterson in January of 2017, Nikola interned with the Acquisitions teams at GEM Realty Capital and The HEARN Company. Denver, CO Connor M. Sharples works on the Real Estate team focusing on acquisitions for Boyd’s open-ended REIT product. His responsibilities include deal analysis, underwriting, research, and closing to maximize risk-adjusted returns while acquiring high-quality real estate properties that fit the Fund’s investment strategy. Connor joined the Boyd Watterson team in March of 2022 after serving as a Client Associate and Underwriter in the Real Estate Banking Group at J.P. Morgan. Chicago, IL Colleen H. Quinn is an Asset Manager within Boyd’s real estate division. She manages a portfolio of real estate holdings, working to achieve return objectives and minimize risk. This entails working closely with property managers and tenant agencies to maintain the physical integrity of the property, developing and maintaining relationships with tenants to maximize potential for lease renewal, and mitigating economic risk by reviewing budgets, financial packages, and valuations. Colleen began with Boyd Watterson as an Analyst in January of 2018 before being promoted to her current position. Prior, she served as a Client Analyst with Marquette Associates, an investment consulting firm, where she collaborated with lead consultants to provide day-to-day client support. Chicago, IL Joseph A. DiMartino is an Asset Manager responsible for managing a portfolio of real estate investments which includes properties located across Kansas, Oklahoma, Texas, Louisiana, and Alabama. His primary focus is on maximizing return and minimizing risk. He focuses on market research, financial analysis, review of historical finances, leases, capital expenditures, budget reviews, and valuation analysis. Joe maintains superior client service in order to build strong tenant and property management relationships. Prior to joining the company in August of 2018, Joe was employed by Heitman, LLC where he spent time as an Acquisitions Associate, as well as a Portfolio Accountant. Chicago, IL Brad S. Johnson serves as an Asset Manager for the Real Estate team in the Denver, CO, office. He is responsible for strategically managing a portfolio of assets to ensure maximum performance. To that end, Brad seeks to provide the highest level of service while establishing and maintaining strong relationships with tenants and tenant representatives. He ensures the physical integrity of each asset is maintained and maximizes the potential for lease renewal, while negotiating new leases. Brad specializes in understanding the needs for a variety of government tenants. Prior to starting at Boyd Watterson in January of 2022, Brad was an Asset Management Associate at EverWest Real Estate Investors and also served as a Real Estate Analyst at Cadence Capital Partners. Denver, CO Cori L. Boone is an Asset Manager on the Real Estate team based out of the Denver office. She manages a portfolio of assets located primarily in the Northwest Region with an emphasis on minimizing risks, maximizing returns, and continually monitoring performance. She ensures the physical integrity of each asset is maintained and maximizes the potential for lease renewal while negotiating new leases. Cori is relationship-driven with a focus on strong communication to make sure tenants and tenant representatives receive the highest level of service. Prior to joining Boyd Watterson in April of 2023, Cori was Director of Investment Services Team at Prologis where she facilitated acquisitions and dispositions in North America. Additionally, she worked at Transwestern as a Senior Analyst/Associate Broker. Denver, CO Brittany M. Hughes is an Asset Manager on the Real Estate team based in the Chicago office. She is responsible for the administration, operation, and financial oversight of a portfolio of real estate properties located primarily within the central region. With a background in office leasing, Brittany works closely with brokers and property managers to attract tenants and build existing relationships to maximize potential for lease renewal and new tenancy. Brittany began her career at Boyd Watterson in July of 2023, but her experience in the industry dates back to 2015. Her background includes serving as an Associate with Stream Realty Partners, as well as working as an Analyst at Cushman & Wakefield. Chicago, IL Dan J. Elzeer works closely with the Treasurer in the execution of all financing-related activities for current real estate funds and prospective vehicles. He is responsible for managing credit facilities with credit line and term loan components – both syndicated and direct private placement transactions and secured loans. In addition, Dan manages the derivatives portfolios across the real estate funds, including new executions. He plays a key role in the sourcing and closing of each real estate debt capital transaction and interest rate hedge. Dan began with Boyd Watterson as an intern before joining the firm full-time in June 2019 within the fundamental research group. In his prior role, Dan focused on identifying opportunities and assessing risks related to state and local government real estate. Cleveland, OH Tiffany Fischer is an Assistant Construction Manager on the company’s Real Estate team. She is responsible for the oversight of major capital projects within the region, including tracking budgets, scheduling, delivering monthly and quarterly reports, and completing onsite visits to review and document progress. Tiffany confirms all due diligence materials are assembled and completed within approved timelines. She works to ensure compliance with the Responsible Contractor policy, communicating with internal and external constituents. Furthermore, Tiffany collaborates with multiple teams, such as Acquisitions, Development, and FP&A, throughout all phases of a project. Prior to joining Boyd Watterson in September of 2021, Tiffany served as an Assistant Project Manager with Paradigm Contractors, LLC, as well as a Project Engineer with Consigli Construction. Her experience in the field dates back to 2012. Washington, DC Alexa M. Knezevic is an FP&A Manager within the company’s Financial Planning and Analysis group. She is responsible for overseeing Real Estate FP&A reporting, supporting the portfolio management and finance teams, and driving process improvements. Prior to joining Boyd Watterson in June of 2021, Alexa served as a Financial Analyst in Business Planning and Analysis at Marathon Petroleum. Cleveland, OH Abby R. Heck is a Staff Accountant responsible for assisting in all facets of the financial reporting and accounting process for the company’s real estate products. She is responsible for the preparation of quarterly and annual statements, balancing accounts payable and receivable, and aiding in budgetary review. Abby previously worked in public accounting with a focus on the audits of universities, state agencies, non-profits, and real estate before joining the Boyd Watterson team in August of 2019. Chicago, IL Matthew C. Sutter is an Acquisitions Analyst for Boyd Watterson’s Real Estate team focusing on a growing portfolio of properties. His responsibilities include maintaining an internal company database of acquisition pipeline activity, assisting in the due diligence process for prospective acquisitions, and coordinating property site visits for internal teams and third-party consultants. Additionally, Matt performs cash flow analysis of all prospective acquisitions. Before joining Boyd Watterson in January of 2022, Matt worked as a Financial Analyst at Largo Capital where he was responsible for underwriting, financial analysis, market research, and the closing of commercial real estate loan originations throughout North America. Chicago, IL Mason M. Biggs is an Analyst with the Financial Planning and Analysis team responsible for providing insights in support of the CFO and Treasurer to assist with portfolio performance and risk management within the company’s Real Estate division. His focus is accuracy and consistency in reporting and commentary. Before joining Boyd Watterson in June of 2023, Mason was a Registered Client Service Representative at Financial Design Group where he analyzed and managed quantitative data for the firm, in addition to serving clients. Cleveland, OH Vanessa M. DeLano is a Valuations Coordinator on the Real Estate Financial Planning and Analysis team. She is responsible for assisting the Finance Director in managing the quarterly valuation process for the Boyd Watterson Real Estate funds. Vanessa focuses on efficiency and accuracy, in addition to maintaining documentation, developing and distributing clear reporting, and coordinating related activities. Vanessa joined Boyd Watterson in May of 2021 as a Receptionist and Administrative Assistant before moving into her current role two months later. She previously worked as an assistant in the legal field for several years. Cleveland, OH Cynthia L. Palmer is an Administrative Assistant for the Boyd Watterson Real Estate division, providing support to team members across the country. She is additionally responsible for maintenance of the Chicago office where her organizational skills, dependability, and high productivity ensure efficient operation. Cynthia joined the Boyd Watterson team in May of 2015 after serving a combined 15 years as an Investor Relations Specialist and Internal Wholesaler at a boutique Real Estate Investment firm, in addition to being a Receptionist and Accounts Payable Assistant at FPL Advisory Group. Chicago, IL As the Deputy Chief Investment Officer within the Fixed Income division, Michael J. Krushena, CFA, along with the CIO for Fixed Income, is responsible for formulating investment strategy and process. Mike also serves as the lead portfolio manager of the LDEI Fund, the Tactical CLO Fund, and the fixed income portions of the Multi-Asset Strategy, and custom, credit-focused portfolio strategies. He has primary oversight of the structured product market sector, which includes research and security specific recommendations for asset-backed securities and CLOs. Additionally, he is responsible for high-yield credit research of multiple corporate bond sectors. Prior to joining Boyd Watterson in July of 2017, Mike served as the Deputy Chief Investment Officer for the Retirement Systems of the City of Detroit and as a Senior Portfolio Manager for both Ambassador Capital Management and Munder Capital Management. In those latter roles, he was part of the corporate credit strategy team, credit research, and responsible for all structured product activities, including ABS and CLOs. Bloomfield Hills, MI As Director of Portfolio Management and Trading, David M. Dirk, CFA, is responsible for the supervision of all portfolio management and trading activity throughout the company’s suite of Fixed Income and Equity products. Alongside the CIO for Fixed Income, he helps to formulate investment strategy focused on maximizing return and minimizing risk across the spectrum. David’s diligent approach ensures consistency in the application and subsequent evaluation of these strategies. David has over 29 years of industry experience, having joined Duff & Phelps Investment Management Co., predecessor to Boyd Watterson, in August of 1996. Cleveland, OH As the Director of Credit Research, Brad Fush, CFA, is responsible for the development, execution, and continual improvement of the credit research process, as well as oversight of the credit analyst team. Additionally, he is the co-portfolio manager for the LDEI Fund and conducts research on a variety of Boyd Watterson’s fixed income strategies. Before joining Boyd Watterson in September 2019, Brad was the Director of Credit Research at Incore Capital Management and Munder Capital Management where he focused on credit analysis and credit modeling for the corporate bond sector. Bloomfield Hills, MI Greg D. Oviatt, CFA, is the Senior Portfolio Manager responsible for the management of short-term and intermediate taxable fixed income portfolios, as well as credit research in the banking, financial services, and healthcare industries. Since joining Boyd Watterson in 2019, Greg has remained dedicated to meeting and exceeding client expectations, focusing on relative performance and risk management. Greg previously served as a Senior Portfolio Manager at Incore Capital Management and Munder Capital Management after working as a Money Market Portfolio Manager at National City Investment Management Company. Bloomfield Hills, MI Justin C. Waggoner is a Senior Portfolio Manager responsible for the intermediate and the short-term suite of taxable fixed income portfolios. He is focused on the consistent application of firm-wide investment strategies in order to realize client objectives while managing downside risks and outperforming applicable benchmarks and competitor peer groups. Justin’s commitment to investor success spans a little more than two decades with Boyd Watterson. He began his financial career with the firm in November of 1999 when it was known as Duff & Phelps Investment Management Co. Cleveland, OH As a Portfolio Manager within the Fixed Income division, Adam C. Thayer is responsible for managing client portfolios to ensure that assets are invested in a manner that aligns with client guidelines. His goal is to achieve client objectives and outperform relevant benchmarks and competitor peer groups, while mitigating downside risks. He executes trades for municipal and equity securities and is responsible as the sector leader for Municipals. Adam joined the Boyd Watterson team in November of 2023 after getting his start in the financial industry back in 2000, serving as a Senior Portfolio Manager at Incore Capital Management and Munder Capital Management where he managed municipal bond portfolios. Bloomfield Hills, MI Joy M. Franz works within the Fixed Income line of business and is responsible for trading across all sectors, utilizing a number of different sources in order to ensure best execution. She focuses on the LDEI Mutual Fund, ETF Model, and backs up Municipals and Equities. Joy keeps current with the market and communicates spread movements to portfolio managers and other members of the Fixed Income team. She is a member of several committees within the firm, including the Pricing Committee and the Brokerage Committee. Joy joined Duff & Phelps Investment Management Co. (Boyd Watterson’s predecessor) in May of 1993 and has continually explored ways to increase productivity, automate processes, and work toward a paperless system. Previously, Joy worked at National City Bank for seven years in various positions such as Proof Encoder, Data Entry Clerk, and Trust Operations Clerk III. Cleveland, OH Ashish Mishra is a Portfolio Manager responsible for the management of Core, ETF, and model delivery fixed income portfolios. His primary goal is to ensure that assets are invested in a manner that aligns with the client objectives and guidelines, aiming to exceed relevant benchmarks and competitor peer groups while mitigating downside risks. Ashish responsibilities also include executing trades across a wide range of fixed income securities through electronic platforms and direct negotiations, achieving the best possible execution, timeliness, and accuracy. Additionally, he holds the role of sector leader for mortgage-backed securities and provides essential quantitative support to the Fixed Income team, enhancing the investment decision making process. Before joining Boyd Watterson in September of 2018, Ashish had a diverse career in the biopharmaceutical industry starting 2007, primarily focusing on product development and technology transfer. His early career included roles as a Research Scientist at NovelMed Therapeutics and Intas Pharmaceuticals Limited, and as a Research Assistant for Cadila Pharmaceuticals Limited. Cleveland, OH Cameron D. Vandenbossche is a fixed income Senior Credit Analyst responsible for credit and sector research. Cameron monitors portfolio positions and assesses developments that impact the company’s existing corporate bond holdings. He is also an analyst on our CLO fund helping to identify securities and monitor portfolio positions. He regularly provides quantitative reporting to assist the portfolio management team in identifying relative value and new potential investments. Cameron began his career at Boyd Watterson in June of 2018 as an Intern with the Real Estate and Fixed Income teams before transitioning to his full-time position in April of 2021. Bloomfield Hills, MI Rank O. Dawson III is responsible for monitoring economic and investment market data to help inform the investment team on the current stage of the credit and profit cycle. This information is used in the investment decision making process to determine the type and amount of risk to take in portfolios. Further, Rank assists the Marketing team in the development of the weekly blog posts which provide insight into the company’s current views on the economy and investment markets. Since joining Boyd Watterson in April of 2016, Rank has worked to foster a data driven approach to analyzing the economy and financial markets and incorporating this into the investment process. Cleveland, OH As Head of Quantitative Research, Stephen T. Berhalter is responsible for leading the quantitative research team to build proprietary models that drive and inform decision making across the firm. This includes assisting in the origination, strategy and launch of new products through industry research, data aggregation and creation of product specific models that are rigorously tested and statistically validated. Steve works in collaboration with numerous departments internally to identify opportunities that impact growth across the firm. Steve began at Boyd Watterson in May of 2018 and has been an integral part of forming and developing the Real Estate Research department. Steve has streamlined a variety of processes including optimizing various fixed income portfolios, building a commercial real estate analysis process and developing pricing and market models for acquisitions. Previously, Stephen worked in Strategy for Sony PlayStation, focusing on international expansion. Cleveland, OH As Head of Fundamental Research for the Real Estate division, Ken C. Kilpatrick is responsible for leading the fundamental research team to assist portfolio managers identify key macro-, portfolio-, and asset-level risks throughout Boyd Watterson’s products. This includes assisting in the launch of new products through outreach, data collection and dissemination, and product research; highlighting major risks through diligent research on potential new acquisition opportunities, portfolio dynamics, and deep dives into key verticals for each product; sourcing accretive deals in new sectors through broker outreach and data collection; and communicating effectively with clients through quarterly marketing updates. Ken began his time at Boyd Watterson in February of 2017 and since then has been an integral part of the collaboration to form the Real Estate Research department. He has assisted in growing the GSA focused open-end real estate fund, launching and growing the state and local government focused open-end real estate fund, and launching the government supported open-ended REIT product. He has also helped form some new SMA products tailored to specific client needs. Moreover, as these new products have been launched and grown, Ken has helped build and create the firm’s proprietary data system which provides a competitive advantage in the marketplace. Previously, he served as a Financial Analyst with First National Bank where he created reports to assist the management team evaluate retail branch performance throughout its entire footprint. Cleveland, OH Arseny M. Zakharov is a Senior Data Scientist responsible for collaborating across the company to improve business methods and processes by developing advanced analytics. He specializes in turning raw data series and factor inputs from a variety of sources into an organized system that can be widely utilized. Since joining Boyd Watterson in December of 2018, Arseny has spearheaded the creation of several proprietary systems, including a quantitative trading model for Fixed Income ETFs, software for automated demographic data acquiring, and a Real Estate scoring model. Previously he worked as a Research Assistant at Concordia University, QC, where he focused on dynamical systems, data mining, and processing in DNA study. He further served as a Lecturer and Research Assistant at the University of Maryland, College Park, and has had several articles published in various academic journals throughout his career. Cleveland, OH Ting-Yu Chiang is a Data Analyst whose design work on reports automation with Python is used across the company by Fixed Income, Real Estate, and Research teams alike. Not only does it aid with existing product performance and asset allocation studies, but it also provides the data and analysis necessary for new product development. Ting-Yu began with the company in March 2020 building interactive dashboards that improved efficiency for monitoring market signals while streamlining the reporting process. She continues to provide financial market insights with the creation of data visualization techniques. Prior to her arrival at Boyd Watterson, she was a Data Analyst for Citibank in Taiwan with the main responsibilities of focusing on marketing analysis and customer retention. Cleveland, OH As an Investment Strategist, Joseph M. Khoury is responsible for analyzing and interpreting economic trends and market signals to inform asset allocation decisions. He collaborates with members of the investment team and research team to help form our view on the economy and markets. Joe is also responsible for delivering weekly and quarterly commentary to external parties, providing historical context to the current environment, and mapping out our expectations for economic and market activity moving forward. Joe’s career with Boyd Watterson began in September 2019 as an Intern with the Marketing and Distribution team before being asked to take a full-time position in February of 2021. He previously worked as a Data Analyst Intern for the CFA Society of Cleveland where his primary responsibility was maintaining records of client growth and engagement. Cleveland, OH Timothy D. Moroz is a Senior Research Analyst for the Real Estate division, providing data-driven analysis and support. Tim currently serves as the lead research analyst for both the GSA focused open-end real estate fund and state and local government focused real estate fund, while also providing research for various separately managed accounts. He assists the real estate team with acquisitions and hold/sell evaluation by performing risk analysis and providing market and agency research. As the lead research analyst for these Funds, Tim has supported and provided research for over $3 billion acquisition activity between both funds. Further, Tim provides regular high-level reporting on the current portfolios to assist in decision making. Tim began his career at Boyd Watterson as an Intern with the Real Estate team in August 2019 before coming on board full time in November of the same year. He had previously interned for Ohio State Congressman David Joyce (OH-14). Cleveland, OH Anthony J. Krakowiak is a Research Analyst for the Real Estate division, providing data-driven analysis and leading initiatives that support our state and local government focused real estate fund. Anthony assists sourcing new opportunities through state and local RFPs. Moreover, he leads the preparation of deal reports with a focus on state entities, conducts deep dives into specific verticals, and performs a quarterly portfolio analysis on the fund. Lastly, he manages several aspects of our database, such as quarterly net effective rent calculations, renewal rate tracking, and freedom of information requests on state and local government data. Anthony began his career at Boyd Watterson in June 2025. Cleveland, OH Haosai Wang serves as a Senior Research Analyst providing research and analytical support for the real estate line of business, with a specific focus on Boyd Watterson’s first open-end real estate REIT. He assists in sourcing properties by reviewing industry reports for new deals and analyzing development/ redevelopment opportunities for tenants searching for space in the market. Haosai builds relationships in targeted markets with research experts, real estate brokers, economic developers, and government officials in order to have a better understanding of local real estate fundamentals. Prior to joining Boyd Watterson in January of 2022, Haosai was a Leasing and Development Analyst at Rader Hill and an Investment Analyst at Woodside Health. Cleveland, OH As a Quantitative Research Analyst, Vinamra Rai is responsible for developing advanced regression and machine learning models to provide comprehensive research and analytical support across all lines of business. His work focuses on leveraging quantitative frameworks and predictive modeling to evaluate current funds, potential acquisitions, and explore new verticals. Vinamra collaborates with various teams to deliver actionable intelligence through data-driven analysis that directly influences acquisition decisions and portfolio strategy. Vinamra previously worked at BlackRock, where he served as an Associate in the Aladdin Wealth Division from 2020 to 2023. At BlackRock, he specialized in developing systematic methodologies for factor-based portfolio risk analysis and portfolio construction dynamics. His research focused on building comprehensive analytical frameworks for stress testing and risk measurement to deliver empirically driven recommendations. He joined Boyd Watterson as an intern in July of 2024 before starting full-time in January of 2025. Cleveland, OH As a member of the Distribution and Marketing team, Patrick J. Prato is committed to fostering strong relationships with clients and consultants and providing excellent service. His relationship management philosophy centers around the belief that as a service provider, his job is to provide investment solutions to increase clients’ operational efficiency and growth. Patrick works to align Boyd’s product strategy with that of external partners – identifying, evaluating, and prioritizing areas of opportunities. Patrick joined the firm in September of 2017 and has since built many strong relationships with global leaders in the financial services space. An accomplished sales and marketing professional with more than 25 years of distribution and marketing experience, Patrick has represented organizations in new marketing initiatives, product development, and platform distribution within the RIA, Family Office, Consultants, Intermediary and Broker-Dealer platforms across all product sets. Cleveland, OH Thomas E. Franzese is a member of the Institutional Sales team and plays a key role in driving growth among Public and Taft-Hartley investors. With more than four decades of experience in the investment field, his knowledge is essential to helping clients position their accounts for success, and for establishing new networks within the industry. Prior to joining Boyd Watterson in September of 2023, Tom was the longtime Director of Institutional Marketing at Lazard Asset Management, a company he served for just over 40 years. Additionally, he was an Assistant Vice President at Drexel Burnham Lambert Inc. Offsite Benjamin “Ben” Utt is a member of the Institutional Sales team and is focused on driving growth through capital raising and delivering first class client service. With nearly three decades of experience in the investment industry, Ben brings expertise in generating new assets and revenue, strengthening existing client partnerships, and expanding opportunities through cross-selling and retention initiatives. Ben joined Boyd Watterson in June of 2025 with extensive experience in sales including nine years at Wells Fargo Investment Management and eight at Invesco Institutional. Additionally, he was a Trustee and member of the Invesco Board of Directors for over nine years. Cleveland, OH Theodore N. Hellmuth is a Portfolio Strategist focused on small institutions, retail investment platforms, and individuals. His priority is developing and maintaining strong relationships by providing excellent customer service. With a longstanding career in the financial industry, Ted continues to apply his expertise in investments to identify opportunities and solutions. Since joining Boyd Watterson in March of 2002, Ted has remained focused on designing optimal strategies to maximize financial returns for clients. Prior to joining Boyd Watterson, he was an Investment Officer at Carnegie Asset Management Co. and Partner at Roulston & Company. Cleveland, OH John Frady is the Director of Institutional Strategy, responsible for working closely with external consultants and Boyd Watterson’s portfolio management teams to design tailored solutions for institutional investors. He is part of the team that designed and now oversees the Multi-Asset Income Allocation strategy which combines fixed income, limited duration high yield, and real estate. Additionally, John focuses on growing the Tactical CLO Fund, which is a diversified portfolio of CLO securities tactically based on the company’s macro view. Prior to joining the firm, John was an institutional Investment Consultant at CapTrust Advisors where he provided consulting services to pension funds, insurance companies, foundations, and endowments. In 2018, John was named one of the National Association of Plan Advisors “Young Guns” Top Advisors under 40. Tampa, FL Jerome T. Moffitt is part of the Institutional Sales and Marketing team, focused on State, County, and Municipal government entities within Michigan, Indiana, Illinois, Wisconsin, and Massachusetts. His dedication to first-class customer service, in conjunction with his experience within the industry, enhances the overall client experience. Prior to joining Boyd Watterson, Jerry served as a Senior Advisor/Investor Relations at Alidade Capital LLC and was the Chief Deputy Treasurer for the County of Macomb in Michigan. Bloomfield Hills, MI As Senior Vice President, Sales and Client Service, Bryan Jones focuses on raising capital across all investment strategies and fostering long-term client relationships. He brings extensive experience in developing and maintaining growth strategy inputs for clients, prospects, and consultant engagement plans. Prior to joining Boyd Watterson in June 2025, Bryan spent 17 years with Forest Investment Associates holding several titles with his last being Managing Director, Investor Relations. His primary focus was raising capital from institutional investors across North America and Western Europe. Cleveland, OH James R. Stange is on the Institutional Sales team and is responsible for assisting in the growth of assets under management with a primary focus on Taft Hartley accounts in Illinois, Wisconsin, Missouri, Kansas, Minnesota, California, Florida, and Washington, D.C. With his honest and dependable persona, Jim cultivates new relationships within the consultant arena while strengthening existing. Jim joined Boyd Watterson in October of 2021 with a resume of extensive experience in sales with a focus on Taft Hartley unions and consultants that included a decade with Fifth Third Asset Management, as well as nine years with Foundry Partners Investments. Offsite Brian L. Cody is a Vice President of Client Service at Boyd Watterson Asset Management, LLC. With over 17 years of experience in the institutional investment marketplace, Brian focuses on developing and managing relationships with institutional clients, ensuring that their needs are met with a high level of attention and strategic guidance. His role involves supporting the firm’s sales team, streamlining processes, and identifying new opportunities to expand Boyd Watterson’s reach while maintaining strong existing partnerships. Prior to joining Boyd Watterson in February 2025, Brian was a First Vice President in the Trust Department at Amalgamated Bank, where he was responsible for business development and relationship management within the organized labor marketplace. Brian began his career as an institutional investment consultant at Reynolds Consulting in 2008, advising institutional plan sponsors, including multi-employer benefit funds, on fiduciary management, asset allocation, risk budgeting, and investment manager research. In this role, he also provided ongoing education to Boards of Trustees, helping them make informed strategic investment decisions to support their members’ financial well-being. Offsite As Vice President, Sales and Client Service, James Quinn focuses on leveraging two decades of institutional sales, marketing, and strategy development experience to grow Boyd Watterson’s institutional footprint among endowments, foundations, insurance, and financial institutions. Prior to joining Boyd Watterson in May 2025, James was Vice President – Institutional Partners Group at CIM Group. His responsibilities revolved around private real estate and infrastructure capital raising and investor relations across all institutional market segments, inclusive of consultants, insurance, financial institutions, pensions, and E&F. James also spent time at Virtus Investment Partners as a Senior Institutional Marketing Director. Cleveland, OH As the Director of Sales Administration, Megan M. Soeder is responsible for the management of the company’s internal and external communication activities. She ensures that all of the organization’s content, such as client review materials, marketing books and one-pagers, podcasts, and videos are presented in a clear and consistent manner. In this newly developed role, Megan will help Boyd Watterson achieve a unified and coherent communication strategy. Megan began with Boyd Watterson in October of 2005. In her prior role, Director of Marketing, Megan was responsible for assisting the National Director of Sales and Marketing in the development and execution of the department’s annual and long-term goals, overseeing the marketing team, and working directly with clients and consultants to answer questions and provide insight. Cleveland, OH As Senior Client Relations Manager, Deborah Leet serves as an extension of the National Director of Sales and Marketing, working closely with clients and consultants. Her goal is to maintain a high degree of satisfaction throughout these relationships, ensuring client reporting is timely and accurate and that all questions are thoroughly answered. Deborah has her finger on the pulse of the market, as well as the firm, having been with Boyd Watterson since September of 1994 when it was known as its predecessor, Duff & Phelps Investment Management Co. As a forward thinker, she remains committed to staying in the know in order to position the firm and its clients for success. Previously, Deborah was a Sales Associate and Trader at McDonald & Co. Securities, Inc. Cleveland, OH As Investor Relations Manager, Amanda M. Macko-Graham is a key contact with investors, consultants, and administrators regarding fund operations for the Boyd Watterson Real Estate Funds. Her focus is facilitating an exceptional client experience with the entire investor relations team to provide timely and accurate information, inquiry response, and conflict resolution. Since joining Boyd Watterson in November of 2013, Amanda has expanded relationships both internally and externally that have allowed the department to adopt new technology, streamline the investor experience, and expand the capabilities of the Investor Relations team. Prior to joining the company, Amanda served as an Investment Operations Associate for Northwestern Mutual, Northern Ohio. Cleveland, OH As a Project Manager, Client Solutions, Vince Leibold focuses on the management of key client relationships, new product development, and special projects. Vince works alongside Portfolio Management and Investor Relations to serve assigned key clients in a day-to-day capacity. In the product development space, he acts as the project manager for certain new or auxiliary products. Vince recently coordinated the development and launch of a foreign Fund-of-Funds, handling both internal and external project management functions. Vince began with the firm in June 2020 after working as a Senior Project Coordinator for the NORC at the University of Chicago, focusing on strategic program management of internal investments for the company. Vince also worked in multiple roles for SmithBucklin, focusing on relationship management and consulting for nonprofit organizations. Cleveland, OH As Project Manager, Client Solutions, James Plante focuses on the coordination of key client and consultant relationships, new product development, and special projects. James works alongside Portfolio Management and Investor Relations to serve assigned key clients in a day-to-day capacity. In the product development space, he acts as the project manager for certain new or auxiliary products. James began at the firm in November of 2020 after serving as a Public Affairs Advisor for Olympus Energy (a Blackstone Portfolio Company), where he managed the government relations strategy. James also served in a variety of roles for former U.S. Sen. Pat Toomey (PA) and former U.S. Rep. Keith Rothfus (PA-12). Cleveland, OH As a Project Manager, New Product Development, Heather R. Kelley is responsible for orchestrating the multifaceted process of product creation and enhancement, collaborating with both internal and external partners to verify that every initiative is executed flawlessly and on schedule. She works closely with the Deputy Chief Operating Officer to coordinate the launch of new products, ensuring that the rigorous standards of compliance and legal requirements have been met. Heather began her career at Boyd Watterson in October of 2011 and most recently served as a Senior Marketing Specialist prior to her transition to Project Manager. As the visionary founder and chair of the Marketing Material Committee, she cultivates collaboration and strategic thinking to enhance the firm’s visibility, playing a pivotal role in revitalizing the firm’s brand identity through a redesign of the logo, website, marketing materials, and social media presence. Additionally, her expertise in developing targeted marketing campaigns has been instrumental in successfully launching Boyd Watterson’s three real estate funds, as well as the Limited Duration Enhanced Income Fund, and the CLO Fund. Cleveland, OH John P. Hyland is a member of the Distribution and Marketing department, specializing in sales and client service for the Advisor Channel. Jack is responsible for developing and maintaining strong client and consultant relationships while providing excellent service. In collaboration with portfolio managers and distribution team members, he provides market insight in the development of presentations and portfolio reviews. Jack started with the company as a Research Analyst in Real Estate Capital Markets in December of 2018 before transitioning into his current role. Prior to Boyd Watterson, he assisted securities analysts and managing partners at a hedge fund for high-net-worth individuals, while also assisting financial advisors with retail client interactions during his time interning at Strategic Value Bank Partners, LLC and AXA Advisors. Cleveland, OH As an Investor Relations Associate, Allison M. Khoury serves as a key contact with investors, consultants, and administrators for inquiries and account needs for Boyd Watterson’s private funds. She provides excellent service to investors and their representatives by providing timely and accurate information and resolving issues. She is a primary interface with the fund administrators for all investor-related activities and ensures timely, accurate distribution of information to investors. Allison also coordinates the implementation and administration of electronic subscription documents for Boyd Watterson’s private funds. Allison joined Boyd Watterson in March of 2022 after working as a Senior Investor Relations Coordinator within the Investor Relations department at Redwood Living Inc. Cleveland, OH As an Investor Relations Associate, Aidan O. Hubbell serves as a key point of contact for investors, consultants, and administrators in relation to the company’s private funds. He provides fund reporting, answers inquiries, and facilitates the completion and execution of fund documents. Aidan also coordinates the capital call and queue process for multiple private funds. His attention to detail and adherence to the timely and accurate dissemination of information are key components to maintaining excellent client service. Aidan previously worked as a Financial Advisor for several years at Equitable Advisors where he focused on financial planning, as well as retirement and investment account management. He joined Boyd Watterson in June of 2021. Cleveland, OH Joseph P. Tarantino is a Business Development Associate within the Distribution and Marketing division. Joe is responsible for managing and maintaining relationships with clients and consultants and providing excellent customer service by ensuring their needs are met and questions answered. Joe started at Boyd Watterson as an Intern with the Marketing division in 2019. He also spent time as a Research Analyst before transitioning into a full-time role as a Marketing Specialist in February of 2021 where he took part in the redesign of the company website while also establishing and implementing an internal due diligence process for the firm’s real estate funds. He began his current position as a Client Relations Specialist in January of 2024. Cleveland, OH In his role as a Family Office-Registered Investment Advisor (RIA) Business Development Associate, Alec L. Gevry is dedicated to cultivating client relationships and collaborating closely with management to tailor solutions for clients. He prioritizes gaining a comprehensive insight into the unique investment priorities of Family Office clientele, taking into consideration their tax strategies, financial goals, and estate planning needs. Cleveland, OH As a Due Diligence Questionnaires (DDQ) and Requests for Proposal (RFP) Specialist, Michael G. O’Brien is responsible for ensuring these inquiries from existing and potential clients receive well-crafted, comprehensive, and accurate responses. He works closely with the Sales, Legal, and Compliance teams to understand the firm’s products, services, and processes, and communicate those items externally. Mike was hired in this role in November of 2023 after serving as an intern within the Sales division of the Marketing and Distribution department. During his time as an intern, he collaborated with a team to establish and implement a due diligence process for the firm’s Real Estate funds – a process he continues to streamline in his current position in order to improve the flow of internal information. Cleveland, OH Nick R. Mullens is a Marketing Specialist responsible for assisting in the development and execution of marketing strategies to promote the Boyd Watterson brand and improve the company’s digital presence. In collaboration with the Senior Marketing Specialist, his main focus is the creation, design, and maintenance of marketing materials, regularly reviewing all items for consistency and accuracy. Nick joined Boyd Watterson in April of 2024 after previously working at ACA Global as a Compliance Analyst within its electronic communications team. Cleveland, OH Taylor Gevry Carle is Deputy Chief Operating Officer and Senior Counsel at Boyd Watterson. Her primary focus is to assist and support the COO in the oversight and management of day-to-day operations and administration of the company as well as provide legal guidance and problem solving for Boyd Watterson private funds and new products. She develops creative solutions to complicated problems while improving efficiencies and facilitating effective project management and implementation. Additionally, Taylor manages the investor relations, new product development, and data governance teams. Taylor began with the firm in 2014 as a Real Estate Research intern, focusing on federal tenant research and federal government budget analysis. In January of 2017, she transitioned to the Legal team and has since provided counsel and project coordination for the launch of several private funds and products, in addition to providing counsel on a number of high-profile, complicated acquisitions and financing transactions. In 2023, Taylor transitioned to her current role as Deputy COO, taking on more operational responsibilities across the organization including process improvements, change management, and data governance. Cleveland, OH Aidan M. Rechin is a Client Relations Specialist within the Distribution and Marketing team responsible for the management of client and consultant communication. His focus is on institutional relationships, working in collaboration with the sales team to manage existing portfolios, and cultivate new relationships. Aidan began his career at Boyd Watterson as an intern in February of 2024 before transitioning to a full-time role. Cleveland, OH Ruth A. Sweeney-Ricica is Senior Counsel and Deputy Chief Compliance Officer and largely works to ensure Boyd Watterson’s compliance with investment advisory regulation under federal and state securities laws. She focuses on the implementation and maintenance of Boyd’s compliance program, which includes training on firm policies and procedures, cybersecurity, and other industry and regulatory updates. Ruth is also responsible for the filing and maintenance of regulatory-required documents, registrations, and disclosures, in addition to the preparation of applicable agreements and guidelines relating to Boyd Watterson’s investment advisory relationships and services. Since joining the firm in January of 2017, Ruth has sought to increase the efficiency and effectiveness of company compliance policies and procedures pursuant to the applicable SEC rules and regulations, while staying current with industry and regulatory standards. Cleveland, OH Emmett P. Hanna is a Client Service Specialist within the Distribution and Marketing team responsible for the management of client and consultant communication. His focus is on institutional relationships, working in collaboration with the sales team to manage existing portfolios and cultivate new relationships. Emmett began his career as an Intern at RIA Sequoia Financial Group. He joined Boyd Watterson as an intern in September of 2024 before transitioning to a full-time role Cleveland, OH Nigel M Drummond II is a Client Service Specialist within the Distribution and Marketing team responsible for the management of client and consultant communication. His focus is on institutional relationships, working in collaboration with the sales team to manage existing portfolios and cultivate new relationships. Nigel first interned with Boyd Watterson before becoming a full-time employee in November of 2024. Cleveland, OH William T. Raiff is Senior Counsel, Real Estate focusing on providing effective legal guidance and support to the company’s Real Estate team. Some of his major responsibilities include the review and drafting of contracts and documents within the firm’s Real Estate portfolio, fielding real estate-related legal questions and coordinating answers and solutions, managing REIT compliance testing, managing real estate-related litigation matters, reviewing and drafting fund-level service provider contracts, and participating in new product development. Prior to joining the Boyd Watterson team in October 2021, Bill was an Attorney at Walter | Haverfield LLP specializing in the representation of commercial real estate developers, owners, and tenants on real estate transactions including commercial leasing, acquisitions and dispositions, and real estate development across various asset classes. Bill also served as Legal Counsel to SITE Centers Corp. with a focus on commercial real estate transactions, vendor contract negotiation and management, and litigation management. Cleveland, OH Sierra J. Gockel serves as a key contact with investors, consultants, and administrators regarding the administration of Boyd’s real estate products. Her primary responsibilities center around excellent service and include the resolution of issues, the accurate completion and final execution of fund documents within deadlines, maintenance of the investor portal, and the review and distribution of investor information. Sierra joined Boyd Watterson in December of 2024. Cleveland, OH As a Compliance Officer, Scott J. Ford III works collaboratively with the Legal team to ensure company operations comply with regulatory and internal standards while identifying any deficiencies or risk of concerns for management. His responsibilities include reviewing marketing materials to certify compliance of SEC Marketing Rule and GIPS guidelines, and performing ongoing monitoring, testing, and review of firm-wide policies and procedures. Scott is also part of the team that manages the company’s SEC registration documents along with other regulatory findings. Prior to joining Boyd Watterson in June of 2022, Scott gained more than a decade of experience in the compliance industry serving as a Sr. Compliance Specialist at companies such as Union Home Mortgage Corporation (UHM) and United Consumer Financial Services (UCFS). Cleveland, OH Quadri Ibrahim is a Senior Data Governance Analyst responsible for overseeing the development, implementation, and maintenance of Boyd Watterson’s internal data to ensure robust data management, governance, and regulatory compliance. This includes working with management to design and execute strategies, policies, and operational framework. His goal in this role is to establish data governance initiatives to ensure integrity, security, and compliance with relevant regulations. Quadri joined Boyd Watterson in July of 2024 after previously working at Bayer as a Senior Data Governance and Compliance Analyst. Cleveland, OH As a Senior Financial Analyst, Global FP&A, Alex R. Hughes focuses on preparing financial reports of the company’s funds and programs. He is part of the Global FP&A team which works to standardize reporting, forecasting, and budgeting, so management can make informed decisions. Alex is responsible for providing insightful analysis, developing and streamlining processes and procedures, and further automating reports to increase efficiency. Prior to joining the Boyd Watterson team in August 2021, Alex served as a Finance Analyst at KeyBank supporting their Institutional Bank, as well as a Finance Analyst II at STERIS where he served on the Corporate Accounting team. Cleveland, OH Michael K. Masteller, CPA, is the Global Corporate Controller responsible for managing the finance and accounting functions of the firm. He works closely with senior management and third-party Accounting Groups to maintain the continued health and growth of the firm’s financial position by regularly reviewing results, documenting trends, and providing suggestions for opportunities and solutions to risks. Prior to joining Boyd Watterson in July of 2023, Mike was a Manager with The Siegfried Group, providing interim financial assistance primarily to Fortune 1000 companies during critical times of need. He also served as a Manager with RSM. Cleveland, OH As a Assistant Global Corporate Controller, Keith M. Bowden is responsible for a variety of financial tasks, ensuring efficient and accurate practices that are compliant with industry regulations. His responsibilities include keeping financial records updated, preparing reports, and reconciling bank statements. He is also responsible for oversight of the software used to process business transactions such as accounts payable and receivable, disbursements, invoices, and receipts. Keith joined Boyd Watterson in June of 2022 after previously working at Neighborhood Family Practice as a Financial Analyst. Cleveland, OH New York, New York New York, New York Pellegrino Piermarini, CPA is the Tax Manager responsible for managing the tax planning and compliance of the firm. He works closely with senior management and third-party Accounting Groups to maintain and improve the company’s tax position. Pellegrino is responsible for staying up to date on the changing tax environment and streamlining related workflows. Prior to joining the Boyd Watterson team in September 2025, Pellegrino was an Investment Banking Associate at MarshBerry where he provided sell-side, due diligence, and valuation services to firms in the insurance brokerage and wealth management verticals. He also served as a Tax Manager at Plante Moran. Cleveland, OH New York, New York Nathan Andrews serves in a hybrid capacity providing support for both the Corporate and Real Estate Accounting Team. In his role, he provides daily administrative and reporting support across various areas including accounts payable for the Real Estate team. Additionally, he facilitates the accounts payable and receivable process and assists in the preparation of financial statements for the Corporate Accounting Team. Nathan joined Boyd Watterson in January of 2024 after previously working in the accounting field for Ridge Tool Company as a Credit Clerk and MRI Software as an Accounts Receivable Analyst. Cleveland, OH Andrew Kuch is an Accounting Clerk who provides daily administrative and reporting support to the company’s Corporate and Real Estate Accounting teams. His responsibilities include maintaining accounting records and performing data entry management while verifying the accuracy of billing statements, invoices, and similar documents. Andrew joined Boyd Watterson in February 2025 as an Accounting Clerk after previously working as a Bookkeeper at Copy King Inc. Cleveland, OH As the Human Resources Generalist, Hannah L. Kirk is responsible for providing administrative support to the SVP of Human Resources and the Human Resources department functions. These items include payroll administration, benefits administration, recruitment screening, new hire onboarding and orientation, training & development session set up, performance review process, compensation and benefits administration, and company policies related to workplace safety and culture. Hannah joined Boyd Watterson in January of 2025 after previously working at a Chick-Fil-A-Franchise as Senior Director of Human Resources and Talent. Cleveland, OH Kristy L. Angelo is an Executive Assistant responsible for providing administrative support across the firm, while offering specialized assistance to the C-Suite to ensure maximum productivity and the completion of major initiatives. She plays a pivotal role in maintaining operational efficiency and providing exceptional service to clients and stakeholders. Kristy began her career at Boyd Watterson in November of 2020 as an administrative assistant before transitioning into her current role in July of 2024. Prior to Boyd Watterson, Kristy gained two decades of experience in communications, branding, and event management in various roles such as media relations director, sports information director, and associate athletic director at several local colleges and Gilmour Academy. Cleveland, OH Anne O. Tomko is an Administrative Assistant in the Boyd Watterson Legal division. She supports the Chief Operating Officer, Chief Legal Officer, Chief Compliance Officer, and various members of the Legal team, ensuring success in both daily tasks and long-term initiatives. Anne works collaboratively with the Legal team and COO Office on special projects and is responsible for the organization and maintenance of company and compliance records including entity organizational documents, resolutions, minutes, policies, and procedures. She also assists with the maintenance of the compliance system and risk management programs, and with the distribution and filing of regulatory documents. After working as an Administrative Assistant within the St. Edward High School Athletic Department for a number of years, Anne transitioned into her current position with Boyd Watterson in June of 2019. Cleveland, OH Kealy S. Reese serves as an Administrative Assistant responsible for keeping the office running smoothly. She is the face of the company, providing support company-wide and to external clients and partners. Further, she supports executives across the firm to ensure completion of major initiatives. Prior to joining Boyd Watterson at the end of July 2023, Kealy worked in Sales Support at companies such as Earnest Machine and Budget Dumpster, focusing on quality communication with vendors, customers, and members of the internal sales team. Cleveland, OH Mackenzie Henry-Hoegler joined the Boyd Watterson team in January 2025 as a Receptionist before transitioning to an expanded role as an Administrative Assistant. Her responsibilities include timely and accurate distribution of materials to clients and consultants. She also assists with the coordination of travel accommodation, expense reporting, office maintenance and other administrative tasks. Prior to joining Boyd Watterson, Mackenzie worked as a claims administrative support role at Progressive insurance for eight years. Cleveland, OH Joe Daneshmand is a System Analyst responsible for ensuring the company’s technology infrastructure functions smoothly, allowing for efficient operations. He serves as a resource for employees to maximize their time and effort while providing system stability and security to both the firm and its clients. Joe’s employment with Boyd Watterson dates back to June of 1997 when he began as a Programmer Analyst with the firm’s predecessor, Duff & Phelps Investment Management Co. Cleveland, OH As a Senior Network Administrator, Kent A. Koeth is responsible for maintaining the continuity of Boyd Watterson’s IT infrastructure, focusing on uptime, reliability, and security. Joining Boyd in June of 2017, Kent has continually worked to ensure cost effective solutions are in place which benefit the current and future needs of our growing business. Remaining on the cusp of developing trends related to IT and cybersecurity, Kent facilitates the implementation of technological changes to keep the firm operating optimally. Cleveland, OH As an Operations Analyst, Sue Norman is responsible for the initial stages of client onboarding. She is the liaison between the client, consultant, internal and external legal teams, custodian, sales team, and additional internal staff during the preparation of contracts and new account openings. Sue then works with internal traders, executing brokers, and custodians during the trade settlement process, tracking trades from start to finish to ensure accuracy and timeliness. She is further responsible for reviewing and keeping current existing client account information. Sue joined Boyd Watterson in November of 2006 as an Administrative Assistant prior to transitioning into her current role. Prior to joining the firm, she was a Real Estate Office Manager at Spitzer Management, Inc., while also serving as a Legal Assistant. Cleveland, OH Karen M. Wisner is an Operations Analyst responsible for verifying and maintaining the financial accounting records of institutional and retail investment clients to ensure accurate reporting. She manages portfolio reconciliation, securities overview, document retention, fixed income corporate actions, and month end pricing. Karen has been a devoted part of the team since September of 1990, joining the company when it was known as its predecessor, Duff & Phelps Investment Management Co. Over the years, she has developed a strong understanding of securities processes and account reconciliation, continuing to adapt operations to ensure the most efficient methods are being utilized. Previously, she worked in the Operations department at Roulston & Company as a Trading Desk Assistant. Cleveland, OH Luke R. Simmons is an Operations Analyst responsible for ensuring proper settlements among trades, performing portfolio reconcilement, new account administration, and data maintenance. Luke began working at Boyd Watterson in June of 2022 after serving as an Operations Associate II in Asset Servicing at Equity Trust Company where he focused on analyzing client documents and investments. Cleveland, OH Kaman Tam is a Performance Analyst, specializing in daily performance and operations for fixed income accounts. She certifies the accuracy of account performance and all numbers reported externally to ensure Boyd Watterson is verified and compliant with Global Investment Performance Standards (GIPS). Kaman joined the company in February of 2017 after having served as a Trade Support Specialist at Key Bank and a Transition Specialist and Client Associate for Stratos Wealth Partners. Cleveland, OH Nathan C. Scott joined Boyd Watterson Asset Management in June of 2020. As a Network Administrator, he works to ensure the firm’s IT infrastructure remains positioned for success. He is responsible for assisting the CTO, Senior Network Administrator, and IT team with daily tasks and larger projects and supports all employees as requested. Additionally, he values the importance of cybersecurity and stays current with the latest trends and news, focusing on what might impact the company and our clients. Cleveland, OH Emma M. Gallipoli is a Business Analyst with the Information Technology department. She is responsible for increasing overall productivity of employees and their usage of the company’s technology as well as assessing opportunities for process improvement. Her primary focus is developing resources to provide easily accessible IT solutions while helping users become proficient with the various forms of technology, including external and proprietary software. Prior to beginning her career at Boyd Watterson in August of 2022, Emma worked at NXTG Solutions LLC as a Competitive Business Analyst Intern and Team Lead. Cleveland, OH Noah C. Jablonski is a Junior Programmer Analyst for the Boyd Watterson Information Technology team responsible for developing, maintaining, implementing, and supporting sophisticated software applications. With a logical and calculated mind, Noah evaluates new software and hardware to determine its applicability and appropriateness for use throughout the company and then trains users regarding the technical aspects and use of the developed systems. Cleveland, OH Andrew C. Everett is a Junior Programmer Analyst responsible for assisting the Boyd Watterson IT department with the development, encoding, and support of our proprietary internal systems. He works directly with the Chief Technology Officer, keeping the company’s operational systems running smoothly and efficiently. Andrew joined Boyd Watterson in July of 2024. Cleveland, OH
Brian Gevry, CFA
Brian Gevry, CFA
Chief Executive Officer, Chief Investment Officer
Thomas O’Shaughnessy, CFA
CIO, North America Infrastructure
Thomas Dalton
Acquisitions, North America Infrastructure
Timothy Hyland
Timothy Hyland
President, National Director of Sales and Marketing
Timothy Horne
Timothy Horne
Executive Vice President, Head of Boyd Watterson Real Estate
Christopher Cochrane
Acquisitions, North America Infrastructure
Giles Bicknell
Acquisitions, North America Infrastructure
Michael Vandenbossche, CFA
Michael Vandenbossche, CFA
Executive Vice President, Chief Investment Officer, Head of Fixed Income
Thomas Tarantino
Thomas Tarantino
Executive Vice President, Chief Operating Officer, Chief Legal Officer, Chief Compliance Officer
Don Haisch
Don Haisch
Executive Vice President, Chief Financial Officer, Boyd Watterson Global
Eivind Nome Dueland
Head of Public North America Infrastructure
James Waler
James Waler
Executive Vice President, Chief Technology Officer
Robert Law
Robert Law
Executive Vice President, Chief Investment Officer Emeritus, Real Estate
Sonia McMillan
North America Infrastructure
John Teulings
Head of US Solar Asset Management
Brian Convery, CFA
Brian Convery, CFA
Executive Vice President, Co-Chief Investment Officer, Real Estate
Kelly Sumey
Kelly Sumey
Senior Vice President of Human Resources
Shirish Amatya
Valuations and Portfolio Modeling
Renee Copsey
Renee Copsey
Assistant Vice President, Executive Administrator
Charles Sturges
Asset Manager
Christopher Ried, CPA
Christopher Ried, CPA
Senior Vice President, Chief Financial Officer, Boyd Watterson
Victor Phan
Valuations and Portfolio Modeling
Kathleen Herrin
Kathleen Herrin
Executive Vice President, Chief Financial Officer, Real Estate Funds
Timothy Arcadipani
Data Analytics Associate
Christopher Hirsch
Senior Financial Controller, North America Infrastructure
Michael Bee
Michael Bee
Executive Vice President
Michael Shay, CFA
Michael Shay, CFA
Vice President, Director of Trading Operations
Zachary Segal
Zachary Segal
Executive Vice President, Co-Chief Investment Officer, Real Estate
Casey Wendeln
Casey Wendeln
Executive Vice President, Co-Deputy Chief Investment Officer, Real Estate
Timothy Walsh
Timothy Walsh
Executive Vice President, Co-Deputy Chief Investment Officer, Real Estate
Stephen Perry
Stephen Perry
Executive Vice President, Strategic Advisor
Thomas Cicotello
Thomas Cicotello
Executive Vice President, Portfolio Management
Brian Orr
Brian Orr
Senior Vice President, Portfolio Management
Kristen Albano
Kristen Albano
Senior Vice President, Portfolio Management
Eric Dowling
Eric Dowling
Senior Vice President, Head of Acquisitions, GSA
Joseph Capra
Joseph Capra
Senior Vice President, Head of Acquisitions, State
Nicholas Nigro
Nicholas Nigro
Senior Vice President, Head of Acquisitions, Diversified
Francis Coppola
Francis Coppola
Senior Vice President, Regional Director of Asset Management (DC)
Della Wegman
Della Wegman
Senior Vice President, Regional Director of Asset Management (Denver)
Ryan Zader
Ryan Zader
Vice President, Regional Director of Asset Management (Chicago)
Hugh Nisbet
Hugh Nisbet
Vice President, Acquisitions
Trenton Joyce, CFA
Trenton Joyce, CFA
Vice President, Acquisitions
Daniel Orcutt
Daniel Orcutt
Vice President, Asset Management
Christopher Winn
Christopher Winn
Vice President, Asset Management
Steve Riley
Steve Riley
Vice President, Asset Management
Ryan Gerrety
Ryan Gerrety
Vice President, Asset Management
Eshaan Varma
Eshaan Varma
Vice President, Asset Management
Julia Jacobsen
Julia Jacobsen
Vice President, Asset Management
Jeff Hurvitz
Jeff Hurvitz
Vice President, Asset Strategist
Silas Campbell
Silas Campbell
Vice President, Portfolio Strategist
Brant Goodrich, CFA
Brant Goodrich, CFA
Vice President, Portfolio Strategist
Thoriq Hardian
Thoriq Hardian
Vice President, Accounting Manager, Real Estate
Larry Murphy
Larry Murphy
Vice President, Capital Markets
Mark Montgomery
Mark Montgomery
Vice President, Construction Manager
Steven Zhang, CFA
Steven Zhang, CFA
Vice President, Acquisitions
Keith Schuman, CFA
Keith Schuman, CFA
Vice President, Acquisitions
Nikola Tatic, CFA
Nikola Tatic, CFA
Assistant Vice President, Acquisitions
Connor Sharples
Connor Sharples
Assistant Vice President, Acquisitions
Colleen Quinn
Colleen Quinn
Vice President, Asset Management
Joe DiMartino
Joe DiMartino
Assistant Vice President, Asset Management
Bradley Johnson
Bradley Johnson
Assistant Vice President, Asset Management
Cori Boone
Cori Boone
Assistant Vice President, Asset Management
Brittany Hughes
Brittany Hughes
Assistant Vice President, Asset Management
Daniel Elzeer, CFA
Daniel Elzeer, CFA
Assistant Vice President, Capital Markets
Tiffany Fischer
Tiffany Fischer
Assistant Vice President, Assistant Construction Manager
Alexa Knezevic
Alexa Knezevic
FP&A Manager
Abby Heck
Abby Heck
Senior Staff Accountant, Real Estate
Matthew Sutter
Matthew Sutter
Acquisitions Analyst
Mason Biggs
Mason Biggs
Financial Analyst
Vanessa DeLano
Vanessa DeLano
Valuations Coordinator
Cynthia Palmer
Cynthia Palmer
Administrative Assistant, Real Estate
Michael Krushena, CFA
Michael Krushena, CFA
Executive Vice President, Deputy Chief Investment Officer, Fixed Income
David Dirk, CFA
David Dirk, CFA
Executive Vice President, Director of Portfolio Management and Trading
S. Brad Fush, CFA
S. Brad Fush, CFA
Executive Vice President, Director of Credit Research
Greg Oviatt, CFA
Greg Oviatt, CFA
Executive Vice President, Senior Portfolio Manager
Justin Waggoner
Justin Waggoner
Executive Vice President, Senior Portfolio Manager
Adam Thayer, CFA
Adam Thayer, CFA
Vice President, Portfolio Manager
Joy Franz
Joy Franz
Assistant Vice President, Trading
Ashish Mishra
Ashish Mishra
Assistant Vice President, Portfolio Manager
Cameron Vandenbossche
Cameron Vandenbossche
Senior Credit Analyst
Rank Dawson, CFA, FDP
Rank Dawson, CFA, FDP
Senior Vice President, Senior Investment Strategist
Steve Berhalter
Steve Berhalter
Vice President, Head of Quantitative Research
Ken Kilpatrick, CFA
Ken Kilpatrick, CFA
Vice President, Head of Fundamental Research
Arseny Zakharov, PHD
Arseny Zakharov, PHD
Vice President, Senior Data Scientist
Ting-Yu Chiang
Ting-Yu Chiang
Assistant Vice President, Data Analyst
Joseph Khoury
Joseph Khoury
Investment Strategist
Timothy Moroz
Timothy Moroz
Senior Research Analyst
Anthony Krakowiak
Anthony Krakowiak
Research Analyst
Haosai Wang
Haosai Wang
Senior Research Analyst
Vinamra Rai
Vinamra Rai
Quantitative Research Analyst
Patrick Prato
Patrick Prato
Executive Vice President, Head of Advisor Channel Distribution
Thomas Franzese
Thomas Franzese
Executive Vice President, Institutional Sales and Client Servicing
Benjamin Utt
Benjamin Utt
Executive Vice President Sales and Client Service
Theodore Hellmuth
Theodore Hellmuth
Senior Vice President, Portfolio Strategist
John Frady
John Frady
Senior Vice President, Director of Institutional Strategy
Jerome Moffitt
Jerome Moffitt
Senior Vice President, Sales and Marketing
Bryan Jones
Bryan Jones
Senior Vice President, Sales and Client Service
James Stange
James Stange
Vice President of Sales
Brian Cody, CFA
Brian Cody, CFA
Vice President, Client Service
James Quinn
James Quinn
Vice President, Sales and Client Service
Megan Soeder
Megan Soeder
Vice President, Director of Sales Administration
Deborah Leet
Deborah Leet
Vice President, Senior Client Relations Manager
Amanda Macko-Graham
Amanda Macko-Graham
Vice President, Investor Relations Manager
Vince Leibold
Vince Leibold
Assistant Vice President, Project Manager, Client Solutions
James Plante
James Plante
Assistant Vice President, Project Manager, Client Solutions
Heather Kelley
Heather Kelley
Assistant Vice President, Project Manager, New Product Development
John Hyland
John Hyland
Assistant Vice President, Business Development Associate, Advisor Channel Distribution
Allison Khoury
Allison Khoury
Assistant Vice President, Investor Relations Associate
Aidan Hubbell
Aidan Hubbell
Assistant Vice President, Investor Relations Associate
Joseph Tarantino
Joseph Tarantino
Business Development Associate, Advisor Channel Distribution
Alec Gevry
Alec Gevry
Family Office-RIA Business Development Associate
Michael O’Brien
Michael O’Brien
DDQ/RFP Specialist
Nick Mullens
Nick Mullens
Marketing Specialist
Taylor Gevry Carle
Taylor Gevry Carle
Senior Vice President, Deputy Chief Operating Officer, Senior Counsel
Aidan Rechin
Aidan Rechin
Client Service Specialist
Ruth Sweeney-Ricica
Ruth Sweeney-Ricica
Senior Vice President, Senior Counsel, Deputy Chief Compliance Officer
Emmett Hanna
Emmett Hanna
Client Service Specialist
Nigel Drummond II
Nigel Drummond II
Client Service Specialist
William Raiff
William Raiff
Vice President, Senior Counsel, Real Estate
Sierra Gockel
Sierra Gockel
Junior Investor Relations Associate
Scott Ford III
Scott Ford III
Compliance Officer
Quadri Ibrahim
Quadri Ibrahim
Senior Data Governance Analyst
Alex Hughes
Alex Hughes
Senior Financial Analyst, Global FP&A
Michael Masteller, CPA
Michael Masteller, CPA
Global Corporate Controller
Keith Bowden
Keith Bowden
Assistant Global Corporate Controller
Patrick Moran
Assistant Controller, North America Infrastructure
Nicole Simensky
Accounting Manager, North America Infrastructure
Pellegrino Piermarini, CPA
Pellegrino Piermarini, CPA
Tax Manager
Chloe Houck
Accountant, North America Infrastructure
Nathan Andrews
Nathan Andrews
Staff Accountant
Andrew Kuch
Andrew Kuch
Accounting Clerk
Hannah Kirk
Hannah Kirk
Human Resources Generalist
Kristy Angelo
Kristy Angelo
Executive Assistant
Anne Tomko
Anne Tomko
Administrative Assistant, Legal
Kealy Reese
Kealy Reese
Administrative Assistant
Mackenzie Henry-Hoegler
Mackenzie Henry-Hoegler
Administrative Assistant
Joe Daneshmand
Joe Daneshmand
Vice President, Senior System Analyst
Kent Koeth
Kent Koeth
Assistant Vice President, Senior Network Administrator
Sue Norman
Sue Norman
Operations Analyst
Karen Wisner
Karen Wisner
Operations Analyst
Luke Simmons
Luke Simmons
Operations Analyst
Kaman Tam
Kaman Tam
Performance Analyst
Nathan Scott
Nathan Scott
Network Administrator
Emma Gallipoli
Emma Gallipoli
Business Analyst
Noah Jablonski
Noah Jablonski
Junior Programmer Analyst
Andrew Everett
Andrew Everett
Junior Programmer Analyst
