Reuters reported that the new investment company is being formed by money manager Stephen Lieber and his son Samuel who announced they were merging their existing firms. Stephen Lieber now runs Saxon Woods Advisors while his son manages Alpine Management & Research.
Alpine Woods Investments is expected to manage nearly $1 billion in investments, Reuters said.
The Liebers announced that the new firm would run more than 300 accounts and six mutual funds. Both firms also manage several other portfolios that use alternative investment strategies, like hedge funds, according to Reuters.
Stephen Lieber is also the founder of Lieber & Co., which launched the Evergreen funds in 1971. Evergreen was later acquired by First Union Corp.
In 1998, Samuel Lieber, started Alpine Management, which runs three real estate mutual funds, a balanced fund and separate accounts.
« Groups Push Support for SEC Fund Disclosure Rule