Stephen A. and Samuel A. Lieber are making a new push for institutional investment, taking their selection of investment strategies in real estate and value stocks on the road — again.
The father and son are co-executive officers and senior portfolio managers of Alpine Woods Capital Investors LLC, Purchase, N.Y.
"I never thought I would go into my dad's business," said Samuel Lieber, who studied architecture and urban design in college. After graduation, however, he switched to real estate and eventually joined his father at Evergreen Investments, Boston, in 1985, specializing in real estate securities. He left Evergreen in 1998 to start Alpine Management & Research, the original name of Alpine Woods.
When Stephen Lieber left Evergreen in 1999 — he founded Lieber & Co., the investment adviser for the Evergreen Funds, in 1969 — he started Saxon Woods Advisors LLC, which featured, among other mutual funds, an income and growth fund that invested in REITs and growth stocks.
The father and son merged their firms in 2003, and now they're focusing on attracting institutional investors. Alpine Woods manages some separate accounts, mainly for small endowments. But they have created institutional strategies, mainly separate accounts, based on Alpine Woods' retail mutual funds and hedge funds.
"We're focused on investments where we have liquidity and have the opportunity to buy private companies that can go public in a year or so," said Stephen Lieber. "Our view is that the world changes rapidly."