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Proprietary Capital LLC Management Biographies
Proprietary Capital has assembled a team of individuals that complement the skill set of one another. A firm with 4 full-time employees, the members of the firm maintain extensive experience in all of the aspects in the effective management of fixed income portfolio including, constructing overall strategy, portfolio construction, portfolio management, security and portfolio modeling, prepayment forecasting, reporting, and client interaction. Below please meet the Proprietary Capital team.
Craig Cohen
Mr. Cohen, born 1960 Philadelphia, PA, is a co-founder and managing partner of Proprietary Capital LLC. At Proprietary, Mr. Cohen is responsible for portfolio management and prepayment modeling and forecasting on the firm's mortgage-related portfolios. Along with Mr. Roche, Mr. Cohen formulates the overall portfolio strategy and risk exposures of each of the firm's portfolios
Prior to his work at Proprietary, Mr. Cohen was a senior vice president at Oppenheimer & Co. in Los Angeles where he was responsible for managing fixed income portfolios for the firm's corporate clients. Prior to Oppenheimer, Mr. Cohen was a mortgage-related securities salesman for Dean Witter Reynolds advising and effecting transactions in mortgage securities with the largest mortgage investors in the country.
Throughout his career, Mr. Cohen has concentrated his effort on uncovering non-traditional approaches to improving risk-adjusted performance for fixed income investors. In recent years, he has spoken at several investment conferences introducing topics such as 1) Non-Traditional Rebalancing Disciplines, 2) Utilizing Volatility to Enhance Portfolio Returns, 3) Absolute Return vs. Relative Return Fixed Income Investing, and 4) How to Interview A Hedge Fund Manager.
Mr. Cohen is a graduate of the University of Florida and currently a member of the board of directors of the University of Florida Investment Management Company ("UFICO"), who manages $1 billion in assets, most notably the University's endowment fund.
Bryan Roche
Mr. Roche, born 1960 Huntington, NY, is a co-founder and managing partner of Proprietary Capital LLC. At Proprietary, Mr. Roche is responsible for trading and portfolio management of the firm's mortgage-related portfolios. Along with Mr. Cohen, Mr. Roche formulates the overall portfolio strategy and risk exposures of each of the firm's portfolios.
Prior to his work at Proprietary, Mr. Roche was the founder and majority owner of Summitview Capital, a broker dealer that specialized in the trading of fixed income products. As a fixed income boutique, Summitview generated 80 percent of firm revenues from investment strategies and the effecting of transactions in mortgage derivative securities. Prior to Summitview, Mr. Roche was head of the fixed income department of Boettcher and Co, a Denver-based regional brokerage firm. In addition to managing the fixed income department, Mr. Roche was on head of the firm's risk management committee and a member of the executive committee. Prior to his tenure at Boettcher, Mr. Roche was a fixed income trader at Kidder Peabody in New York City, managing a $500 million risk position.
Throughout his career, Mr. Roche has gathered extensive and broad-based experience in the management of risk positions in fixed income products. In addition, has spoken at various conferences as a specialist in trading fixed income positions.
Mr. Roche is a graduate of the University of Colorado and is a regular presenter to the students of the business school.
Patrick Hidalgo - Senior Analyst
Patrick Hidalgo joined the firm in 2004 and is responsible for managing the firm's prepayment database and security/sector prepayment analysis.
Prior to joining Proprietary, Patrick worked as a Vice President for Countrywide Financial Corporation from 1997 to 2003 at the firm's Calabasas California headquarters. Patrick worked on the cash flow modeling, securitization and whole loan trading, prepayment and default research and analysis, pricing, product enhancement, new product design, legal document review and negotiation for Home Equity Lines of Credit (HELOCs), Fixed Rate Seconds and Subprime mortgage products. During his tenure with Countrywide, he either securitized and/or whole loan traded over $15 billion of the firm's products.
Prior to joining Countrywide, Mr. Hidalgo worked at Piper Jaffray and Everen Securities from 1995 to 1997 where he helped the mortgage sales group with excel modeling, access database design and programming needs.
Mr. Hidalgo received his MBA from the University of Illinois at Champaign- Urbana in 1995 where he spent a semester at Escuela Superior de Administracion y Direccion de Empresas (ESADE) in Barcelona, Spain. While obtaining his degree, Patrick completed a summer internship as an Equity Analyst for the Parnassus Fund. He received his BS in Finance from the University of Colorado at Boulder in 1991.
Heide Burroughs – Investor Relations/Office Manager
Ms. Burroughs is the Office Manger and Investor Relations contact for Proprietary Capital and its flagship Fund, the Lynx Fund. Ms. Burroughs is responsible for onshore fund administration, performance updates, distribution of marketing materials, and acts as the point of contact for all Lynx Fund investors.
Prior to her work at Proprietary Capital, Ms. Burroughs was a Senior Accountant with Rothstein Kass & Company primarily responsible for hedge fund audits and tax.
Prior to her work at Rothstein Kass, Ms. Burroughs was the controller for Mt, Yale, Denver, an investment consulting firm for high networth individuals and institutions. In that capacity she was also the administrator for two hedge funds. Prior to that Ms. Burroughs was an accountant for a James Erickson & Co., a CPA firm in Bellevue, WA.
Ms. Burroughs, is a graduate of Michigan State University.
Scott Vos – Analyst
Mr. Vos became a member of the Proprietary Capital team in February of 2008 and is responsible for helping manage the prepayment and economic databases of the firm.
Before coming to Proprietary, Mr. Vos attended the University of Colorado and was a competitive freestyle skier. At the University of Colorado, Mr. Vos majored in economics with an emphasis in business and also minored in math. He graduated with distinction in the top of his class. While at CU Mr. Vos interned at the Leeds School of Business, Business Research Division. At the Division, he analyzed economic data and helped maintain a research database. As a competitive freestyle skier for seven years, Mr. Vos competed at both the national and international level and represented the US overseas.
