Blair Richardson is Managing Partner of Bow River Capital Partners, and has held executive positions in international sales and trading of public equity and debt securities for nearly 25 years. In 2011, Mr. Richardson was named one of the most influential people in Denver by 5280 magazine (“The 5280 Fifty”).
Mr. Richardson was with Morgan Stanley and Company from 1987 to 1995, serving as President of Morgan Stanley Japan in Tokyo, Vice Chairman of Morgan Stanley Asia in Hong Kong, and Managing Director of the Equity and Fixed Income Department in New York.
Prior to forming Bow River Capital Partners, Mr. Richardson was Managing Partner of B.E. Richardson Investments, which invested in a variety of industries and real estate throughout North America. Between 1996 and 2002 his company made over 20 private equity investments.
Mr. Wolf is a Co-Founder and Partner of Bow River Capital Partners responsible for leading investment transactions. Prior to forming Bow River Capital Partners, he worked with Mr. Richardson at B.E. Richardson Investments, where he was involved in the due diligence, financial analysis, and structuring of numerous operating company and real estate investment transactions, including the reorganization of a portfolio company into a publicly listed real estate investment trust. Mr. Wolf is the current Chairman of Ely and Associates Corp. and the former Chairman of Peak Power Engineering and AUC Holdings Corp.
He currently serves on the Board of Directors for Junior Achievement Rocky Mountain, and formerly served on the boards of Denver Academy (Treasurer), and Leaders Challenge (Treasurer).
Mr. Wolf earned a B.S. in accounting at the University of Colorado Boulder and is a certified public accountant (inactive) in the state of Colorado.
Mr. Pederson is a Partner at Bow River Capital Partners and Chairs the Advisory Board for Bow River’s active investment fund.
Previously, Mr. Pederson was President of Ross Consulting Group, an advisory firm he founded that for 20 years provided capital asset financing and investment strategy for Fortune 100 corporations and government organizations. Before that Mr. Pederson worked with Boston-based Harbridge House, a management consultancy firm.
Mr. Pederson earned MSBA and JD degrees from the University of Denver. He is a board member of Westcore Mutual Funds; ALPS ETF Trust; Principal Real Estate Income Fund; and History Colorado.
Ms. Smith joined Bow River Capital Partners in September 2006. Ms. Smith is the CFO for Bow River Capital Partners, the management company for all of the Bow River Capital Funds.
Ms. Smith is a graduate of Metropolitan State College of Denver (summa cum laude) and is a Certified Public Accountant in the State of Colorado. Ms. Smith has worked in public accounting and in the private sector — most recently as Assistant Controller for a Denver bank and previously Controller for a lower middle market manufacturing company.
Mr. Wham is responsible for overseeing operations of Bow River and its funds, as well as, engaging specialized and experienced personnel to advise on potential new fund opportunities. Rich closely monitors the alternative investment space and facilitates the strategic expansion of the firm. He maintains a platform-wide perspective and represents a “C-level” point of contact for all investors. Prior to joining Bow River, Rich spent thirteen years at Denver-based Westfield Company where he led the capitalization of numerous real estate investments exceeding $1 billion in total value.
Rich earned his bachelor’s degree in economics from the University of Colorado.
Stewart Massey joined Bow River Capital in 2018 as Vice Chairman of the BRAM Board. Mr. Massey co-founded Massey Quick (now Massey Quick Simon) in 2004 after a 24-year career on Wall Street. He joined Morgan Stanley’s Private Client Group in 1983 after four years with Dean Witter Reynolds. From 1988 through 1993, he was based in Hong Kong and led Morgan Stanley’s private client businesses in Asia, Australia, and Japan. Mr. Massey was Head of Japanese Equity Sales in New York from 1993 through 1996 and returned to Tokyo as Head of Institutional Equity Sales and Global Head of Japanese Equities in 1996.
Mr. Massey served as President and CEO of Robert Fleming, Inc. in 1997 and 1998. At Flemings, he had regional responsibility for equity sales and trading, research, capital markets, investment banking, and asset management in the Americas, serving on the Board of Directors and Executive Committee of the parent company in London. Mr. Massey returned to Morgan Stanley in September of 1998 as a Managing Director and Head of Institutional Sales, Marketing, and Product Development for the firm’s prime brokerage business. He later served as the senior relationship manager for a number of Morgan Stanley’s most prominent institutional global clients.
Mr. Massey holds a BA degree in History from The College of Wooster. Mr. Massey was honored as one of the top 100 independent investment advisors in America by Barron’s Magazine in 2010, 2011, 2012, 2013 and 2014.
Ms. Watson serves as Bow River’s General Counsel and Chief Compliance Officer. She has over 25 years’ experience advising investment advisers on legal and compliance matters.
Prior to joining Bow River, Ms. Watson was Senior Counsel to Watson Capital Management, Inc., a registered investment advisory firm headquartered in Washington, D.C. For over 15 years, Ms. Watson was Vice President and Senior Associate Counsel with T. Rowe Price Associates, advising the firm’s registered investment adviser and broker-dealer. From 1997-1998, Ms. Watson served as Senior Associate Counsel to Merrill Lynch in New York. Ms. Watson began her legal career as a Federal Investigator specializing in investment related audits and examinations.
Mr. Ettenger is responsible for investment research, due diligence, financial modeling, originating, structuring and executing buyout, recapitalization and growth capital transactions. He also works with portfolio companies post-closing in a variety of capacities in order to facilitate growth. He has over five years of Institutional Equity Sales experience, most recently serving as a Vice President at Morgan Stanley.
Mr. Ettenger holds an MBA with an emphasis in Accounting and a BS in Accounting from the University of Colorado, where he graduated with honors. He is also a CFA Charterholder.
Mr. Hiatrides is responsible for originating, structuring, and executing buyout and recapitalization transactions as well as portfolio management, investment research, due diligence, and financial modeling and analysis. He is a member of the Board of Directors of Kobelt Manufacturing Co. Ltd.
Prior to joining Bow River, Mr. Hiatrides served as a Vice President at KPMG Corporate Finance (previously St. Charles Capital) where he was responsible for providing strategic advisory services relating to merger and acquisition and capital market transactions to middle market companies across a variety of industries. Prior to that, he served as an Analyst at the Bank of Ireland in the middle-market leveraged finance group.
Mr. Hiatrides earned an MBA with High Honors at the University of Colorado and a B.B.A. Cum Laude in Finance from Loyola University of Maryland’s Sellinger School of Business.
Mr. Sutton is responsible for investment research, due diligence, financial modeling, originating, structuring and executing buyout, recapitalization and growth capital transactions. Prior to joining the firm in 2013, he worked as an Investment Analyst at Mariner Real Estate Management, an opportunistic real estate private equity firm. He was lead analyst on $150MM in executed transactions with investments ranging from distressed real estate debt pools, to CMBS deals and development opportunities.
Mr. Sutton holds an MBA with an emphasis in Finance and a BS in International Business, both from the University of Colorado. He is also a CFA Charterholder.
Mr. Miller is responsible for originating, structuring and executing buyout and recapitalization transactions as well as portfolio management, investment research, due diligence, and financial analysis.
Previously, Mr. Miller was part of the Healthcare Investment Banking group at Jefferies in New York. Prior to that, he was with Quadriga Partners, a healthcare-focused investment bank in Denver. Mr. Miller began his career with St. Charles Capital, a boutique investment bank in Denver.
Mr. Miller holds a BS in Finance from Colorado State University and a Master of Finance from the University of Denver.
Mr. Fox is an Associate with Bow River with a focus on evaluating, executing and monitoring investment opportunities. Prior to joining Bow River in 2017, he was employed as an investment professional at Lone Star Funds, a global private equity firm that invests in real estate, equity, credit and other financial assets. He began his career as an investment banking analyst with Wells Fargo Securities.
Mr. Fox holds a B.A. in Finance from Texas Christian University.
Mr. Fortier is responsible for originating and executing investments in private businesses utilizing complex financial valuations, comprehensive company and industry analysis, and structural, tax and financial considerations. Prior to joining Bow River in 2017, he worked for McCarthy Capital, an Omaha, Nebraska based private equity firm focused exclusively on lower middle market companies with more than $1 billion of investment capital under management.
Mr. Fortier received a Master’s Degree in Finance and Bachelor’s Degrees in Finance and Economics from Creighton University in Omaha, Nebraska.
Ms. Leonard joined Bow River in October 2016 as an Associate. Ms. Leonard is responsible for investment research, due diligence, financial modeling, and originating buyout, recapitalization and growth capital transactions.
Prior to joining Bow River, Ms. Leonard completed numerous internships in the finance industry, most recently working at SDR Ventures, a local Denver investment bank. She holds a BSBA in Finance from the University of Denver.
Mr. Koncilja is responsible for originating, structuring, and managing real estate transactions. Before joining Bow River Capital, he founded a real estate development company with Mr. Richardson. Prior to that, Mr. Koncilja served as the Chief Operating Officer of St. Charles Town Company. At St. Charles he oversaw the company’s retail development and land acquisitions, as well as 2.1 million SF of third party real estate services.
In 2004, Nick took a position in Denver Mayor Hickenlooper’s administration as the Deputy Director of a $400M bond initiative to overhaul the infrastructure of the criminal courts and detention facilities. He was intimately involved in every aspect of the project from the initial programming and budgeting to the bond campaign and through the execution of the final construction contracts.
In 2007, Nick left the Mayor’s Office to work with Urban Villages. While there he became the VP of Development and Operations. Nick oversaw the completion of SugarCube, a 150,000 SF mixed-use building in LoDo, and the asset management of 300,000 SF of mixed-use and multi-family real estate in Downtown Denver.
Mr. Neiffer joined Bow River Capital Partners in November 2014 as Senior Accountant. Mr. Neiffer is responsible for the real estate fund accounting, cash flow projections, capital calls and distributions, research, and investment analysis. Mr. Neiffer holds an MBA and a BS in Accountancy, both from Azusa Pacific University. He has passed all portions of the CPA exam and is awaiting licensure in both California and Colorado.
Prior to joining Bow River, Mr. Neiffer worked in public accounting, specializing in tax, focusing primarily on private equity clients with real estate-related businesses and investments. Mr. Neiffer started his career with a Big Four accounting firm and transitioned to a regional firm to concentrate on private equity.
Mr. O’Grady is responsible for originating, structuring, and managing real estate transactions. Prior to joining Bow River, Chris was a Vice President with Tricon Capital Group in Toronto where he was responsible for sourcing and underwriting new investments and managing existing projects in the United States and Canada. Chris spent five years with Scotiabank as an Associate Director in Equity Capital Markets and as an Associate Director in Investment Banking as a member of the real estate coverage and execution team. He was formerly with Brookfield Properties Corporation and Colliers International.
Chris holds an MBA from the Richard Ivey School of Business at the University of Western Ontario and a Bachelor of Commerce degree from the John Molson School of Business at Concordia University.
Mrs. Palmere is responsible for the accounting and finance functions related to the 2006 and 2011 funds.
Mrs. Palmere (inactive CPA) holds a MBA from the University of Houston and brings twenty plus years’ experience as a Chief Financial Officer of a real estate investment fund, a national real estate development firm and a large regional bank, and has worked as a commercial real estate broker on a Fortune 500 international account.
Mr. Lacey joined Bow River in September 2017 as a Senior Associate. Mr. Lacey is responsible for investment research, due diligence, financial modeling, originating, structuring, and managing real estate transactions. Prior to joining the firm, he was an Assistant Vice President at First National Denver, a regional bank, specializing in commercial real estate. He was the lead portfolio manager on a $300 million real estate portfolio consisting of all asset classes.
Mr. Lacey holds a MBA and a BS in Business Administration with an emphasis in Finance, both from the University of South Dakota.
Mr. Layton joined Bow River in 2017 as an Associate. Mr. Layton is responsible for investment research, due diligence, financial modeling, originating, structuring, and monitoring real estate transactions. Prior to joining Bow River, he was an Analyst in EY’s M&A Real Estate group in Philadelphia focusing primarily on transaction-based valuations. He was involved in over $6.5 billion of commercial real estate valuations. Mr. Layton additionally completed a 5-month Co-Op at a commercial real estate development consulting firm, and two summer internships at PNC Bank in their commercial real estate originations, and capital markets finance groups.
Mr. Layton holds a BS in Finance from The Pennsylvania State University.
Catherina Nally joined Bow River Capital in August 2010. She is primarily responsible for managing investor service requests, supporting client reporting activity, and marketing. She also assists with other operational responsibilities, event coordination, and auxiliary support to the Bow River Capital team.
She graduated from James Madison University where she received a B.A. in Social Sciences. Catherina brings a myriad of experiences to her role. Before joining Bow River, Catherina worked as the office manager and payroll administrator for a food and beverage company, with a prior history of working in medical association management.
Stephanie Dalton joined Bow River Capital in 2018 and is the Executive Assistant to Managing Partner, Blair Richardson. She has over 14 years of experience providing high-level support to ensure smooth coordination and communication for Bow River Capital. Prior to joining Bow River, she was an Executive Assistant to the President and Director of Operations at a food & beverage/hospitality company in Centennial. Before her time there, she was the Executive Assistant to the Chief Creative Officer at a large media advertising company in the Denver Tech Center. Stephanie has also assisted brokerage teams in commercial real estate and received her Real Estate License in California prior to moving to Colorado.
Stephanie graduated from University of Arizona in 2002, where she received her B.A in Communications.
Sara joined Bow River Capital Partners in 2017 providing administrative support to both the Real Estate and Buyout teams. Previously, she worked in the mortgage industry for 10 years where she held positions in audit, compliance, and investor relations.
She graduated high school from Golden Highschool in Golden, Colorado and moved on to study business and accounting at Metropolitan State University of Denver.
Software Growth Equity Team
Mr. Raeder will lead Software Growth Equity Team. Mr. Raeder has vast experience sourcing, operating, and exiting software and technology-enabled business service companies. Prior to partnering with Bow River, Mr. Raeder focused on transformational change at software businesses, serving as a strategic advisor, board member and CEO to numerous companies over the last twenty years. His extensive background as a Chairman and CEO includes, most recently, partnering with Frontier Capital to acquire talentReef in 2012. Previously he served as CEO of IQNavigator, where he guided a market leading Software Human Capital Management company for Contingent Workforce Management to 10 consecutive years of profitable revenue growth and a successful exit in 2008.
Mr. Walters serves as a Senior Vice President of Bow River Capital’s Software Growth Equity Team. He is an experienced entrepreneur and senior executive with a proven track record of delivering growth and value creation for investors. Prior to joining Bow River, Mr. Walters has focused on the lower middle market SaaS and technology enabled business services sectors where he has served as a strategic advisor, investment professional and CFO/COO. From 2012 to 2017 he was CFO/COO of TalentReef, where, partnered with Mr. Raeder and Frontier Capital, he was an investor and member of the team that acquired talentReef in 2012. Previously he served as CFO of IQNavigator. Mr. Walters started his career in public accounting with KPMG and is a CPA (“Inactive” status) in the State of California.
As a Vice President of Bow River Capital, Mr. Ramich will be working extensively on the Software Growth Equity Team. Mr. Ramich is responsible for originating, structuring, and managing transactions for the Fund. He is an experienced investment and operating executive with a proven track record driving revenue growth, improving margins, raising capital, and running M&A transactions. Prior to joining Bow River, Mr. Ramich was the founder and managing partner of DFR Financial Partners, a fractional CFO/COO consulting firm focused on assisting small growing companies attain their strategic financial and operating goals primarily in the SaaS space. Additionally, Mr. Ramich was an investment professional with Raeder Capital Partners, Fidus Partners, Linx Partners, and Banc of America Securities LLC.
Advisory Board Chairpersons
Mr. Pederson is a Partner at Bow River Capital Partners and Chairs the Advisory Board for Bow River’s active investment fund.
Ms. Sullivan was a Senior Managing Director in the Denver office of HFF with more than 30 years of experience in the commercial real estate and finance industry. Ms. Sullivan served as co-leader of the Denver office’s investment sales platform and is primarily responsible for office, industrial and retail investment sales throughout the western United States. During the course of her career she has completed more than 50 million square feet of investment sales transactions – valued at more than $9 billion. Past assignments have included national portfolio sales in office and industrial properties, the $770 million sale of five CBD office assets for Blackstone, as well as recapitalizations for existing financings.
Prior to joining the firm, Ms. Sullivan was co-leader of Jones Lang LaSalle’s Denver Investment Sales team closing more than $900 million in transactions throughout a two-year period. Prior to that, she was an Executive Vice President at CB Richard Ellis.