Piper Hill Partners, LLC is a registered investment advisor based in Weston, Vermont that specializes in constructing portfolios comprised of equity investments in companies and assets which are involved in water-related services or water dependent activities in world-wide geographic markets for institutional and individual clients. The firm seeks to invest on a global basis in water related businesses with sound business models, strong balance sheets and meaningful water related revenues. While the firm’s primary activity is to manage discretionary portfolios that are highly similar, it also may construct more concentrated or specialized portfolios based on differing client guidelines or objectives. The Firm’s only business is the management of our clients’ funds. Dave and Wil have been investing in the water industry since 2006.
The Team has developed a shared philosophy over time and complimentary expertise. Dave was former President and Chief Executive Officer of J.P. Morgan Investment Management, responsible at that time for over $200 billion dollars of institutional and personal assets. Dave also served as a trustee and Chair of the Investment Committee for the Retired Clergy of the Episcopal Church in America, a $9 billion dollar retirement fund. Kurt Wolfgruber was former President and Chief Investment Officer of OppenheimerFunds, Inc. William Morgan was formerly Senior Research Analyst at Manchester Capital Management.
The firm’s primary services include:
- Understanding and defining how the firm’s investment knowledge and process is best captured and delivered to each client
- Selecting investments from its investment universe to construct the appropriate portfolio
- Buying or selling portfolio securities on behalf of each client
- Periodically reporting to each client, that client’s current investment portfolio and valuations, capital gains or losses, investment income, investment performance, and such other information, as mutually agreed upon, that may help inform the client about their investment results.
David Brigham, Co-Portfolio Manager
Dave is a co-founder of Piper Hill Partners and co-portfolio manager of the Firm’s global water equity strategy. For over 45 years, Dave has been an active fiduciary. Dave was formerly President and Chief Executive Officer of J.P. Morgan Investment Management and at that time was responsible for over $200 billion dollars of institutional and personal assets. At a prior firm, Dave was co-portfolio manager for an investment strategy which invested in global water equities, since its inception in early 2006. Dave was integral to the construction and launch of the strategy which invested in publicly traded securities in the global water industry. At one point in his career, Dave was the Chief Investment Officer of the Oppenheimer Mutual Fund complex.
Dave is currently Chairman of the Investment Advisory Committee to the NY State Teachers Retirement System, a $90 billion dollar pension fund. Dave also served as a trustee (1981-1988, 1997-2010) and Chair of the Investment Committee (1997-2010) for the Retired Clergy of the Episcopal Church in America, a $9 billion dollar retirement fund. Dave currently serves as senior consultant to the Retired Clergy of the Episcopal Church in America. Dave has also been a trustee of the Wenner-Gren Foundation, an entity devoted to anthropological research and publication.
Dave graduated from Harvard College with a degree in history and subsequently went on to receive a masters degree in that same discipline from Hunter College in New York City. He also attended business school at NYU Graduate School of Business.
William Morgan, Co-Portfolio Manager
Wil is a co-founder of Piper Hill Partners and co-portfolio manager of the Firm’s global water equity strategy. Wil was formerly Senior Research Analyst at Manchester Capital Management in Montecito, CA where he led their west coast office research and investment efforts and was co-portfolio manager for a fund which invested in global water equities since its inception in early 2006. The strategy was a globally diversified portfolio of public equities with meaningful revenues derived from the global water industry. Wil has been a portfolio manager of the global water equity strategy since its inception. Wil has also worked in investment banking focused on mortgage-backed and asset-backed securitization. Throughout his career, Wil has focused on fundamental analysis and portfolio management.
Wil received a Masters degree in International Finance and Business at the School of International and Public Affairs at Columbia University, with extensive coursework at Columbia Business School. Wil received a Bachelor’s degree with honors from Manhattanville College in New York, where he studied International Relations and Economics. Wil enjoys spending his free time with his wife Joyce, in addition to cycling, hiking and skiing.
Kurt Wolfgruber, Advisor
Kurt Wolfgruber is the former President of OppenheimerFunds, Inc., where he was responsible for the Company’s Retail and Wealth Management business units. Additionally, he serves as Chief Investment Officer, overseeing the direction of the firm’s investment organization and directing the underlying investment process.
Mr.Wolfgruber joined OppenheimerFunds in April 2000 as Senior Investment Officer and Director of Domestic Equities. In that capacity, Mr. Wolfgruber was responsible for the investment process of the $65 billion in assets managed by OppenheimerFunds’ Domestic Equity Portfolio teams. He oversaw Portfolio Managers and Analysts who manage U.S. equity and balanced funds that cover a broad range of equity product offerings with respect to market capitalization and growth/value orientation.
In April 2003, Mr. Wolfgruber was named Executive Vice-President and Chief Investment Officer with oversight responsibilities for all investment functions including equity and fixed income research and portfolio management, trading and risk management with total assets exceeding $130 billion at that time. He also became a Director of OppenheimerFunds, Inc., HarbourView Asset Management Corp., and Tremont Capital Management.
Mr. Wolfgruber has been involved in investment management for over 30 years. He joined JP Morgan Investment Management in 1974 as a Research Analyst and was responsible for covering the electric and telephone utility industries, leasing, cable television and ferrous and non-ferrous metals from 1974 to 1978. In 1978 he became a Portfolio Manager managing trusts, estates and private client accounts. He later assumed management of domestic and global equity and balanced accounts for major U.S. and European pension and institutional clients. Mr. Wolfgruber’s past position at JP Morgan Investment Management was as a Managing Director, Group Head and Portfolio Manager for the Multi-Market Special Investment Funds, a series of closed-end funds invested in a broad array of higher risk, equity type investments. He holds an M.B.A. from the University of Virginia (Darden) and a B.A. in Economics from Ithaca College. He is a Chartered Financial Analyst.