Our Investment Team
J Gary Kosinski
Chief Investment Officer
Mr. Kosinski’s expertise is in international fixed income and capital structure markets, financial engineering, risk management, derivatives and structured products. Mr. Kosinski is the largest investor in the fund and overseas the daily trading activities. Prior to Kore, Mr. Kosinski was a partner at III Associates (“Triple I”) where he co-managed several fixed income funds and a U S broker/dealer, AVM L P. At III from 1996 until 2002, he managed several multi billion dollar portfolios including mortgage backed securities, asset backed securities, credit derivatives and structured products. He created and managed a financing conduit which issued over $5 billion of AAA rated securities to finance a multi billion dollar ABS portfolio. At III, Gary structured, raised capital for and managed a domestic tax efficient fixed income fund. He also created the architecture for the risk management systems. From 1990 to 1996. Mr. Kosinski was a Vice President and Trader with Credit Suisse Financial Products, in New York and London. Mr. Kosinski studied mechanical engineering at Yale University from 1986 to 1990 where he graduated in the top of his class. Gary is married with two children.
Senior Portfolio Manager
Mr. Maceira has been a portfolio manager of the Investment Manager since 2003 and has worked with Mr. Kosinski since 1999. He is responsible for Corporate Credit and Structured Finance Trading. Mr. Maceira’s focus is on Capital Structure Arbitrage. Predominantly, Mr. Maceira has focused on the Financial Institutions Sector, trading in Bank, Broker, Insurance, REIT, and other financials’ company debt, stock derivatives. Mr. Maceira also focused on Emerging Markets, trading debt, derivatives and currencies of several EM countries. During his tenure, Mr. Maceira managed portfolios of over 1 billion in corporate debt, over $2.5 billion in credit derivatives, as well as significant currency and equity positions. From 2003 to 2004 Mr. Maceira was responsible for managing the Asset Backed and Structured Finance Portfolios for the firm. He built this portfolio from nothing to over $500 million in securities managed. Prior to joining Kore, Mr. Maceira was a portfolio manager at III (“Triple I”) from 1999 to 2002 where he worked with Mr. Kosinski on the management of the Mortgage Backed Securities and Asset Backed Securities portfolios. Mr. Maceira graduated from Florida Atlantic University in August 1999 with a degree in Business Administration and a major in Finance. He is married with two children.
Senior Portfolio Manager
Mr. Kessler has been a portfolio manager of the Investment Manager since 2005 primarily focusing on asset back products, structured finance and associated strategies. Mr. Kessler’s expertise is in structured products and agency mortgage backed securities and is responsible for managing the Asset-those Portfolios for the firm. Mr. Kessler lead the firms activities in trading over $3 billion of distressed Non Agency MBS from 2009 to 2018 From 2003 to 2005. Mr. Kessler was an analyst in the Structured Finance Advisory Services Group at Ernst Young. Mr. Kessler was responsible for reverse engineering waterfall models for collateralized debt obligation transactions (trust preferred, multi sector, asset backed securities, and CDOs of CDOs) by creating dynamic Microsoft Excel models. At Ernst Young, Mr. Kessler performed collateral due diligence and asset evaluation in addition to recalculating portfolio profile, collateral quality, and coverage tests on portfolios to mitigate risk for investors, bond insurers and transaction underwriters. Mr. Kessler graduated from Washington University in St Louis in 2003, graduating Magna Cum Laude. He received a B.A. in Business Administration concentrating in finance and accounting. He is married with two children.
Andrei Itkis, CFA
Director of Operations
Mr. Itkis joined the Investment Manager in 2004 and is responsible for portfolio financing, Repo trading, operations and management of Muni Tender Option Bond program. His other responsibilities have included a range of portfolio management capacities including yield curve derivative strategies, data mining and analysis for Kore’s mortgage pool trading projects, and Kore’s municipal bond and derivatives portfolio. Prior to joining the Investment Manager, Mr. Itkis was an analyst with the Decision Management division of Citigroup North American Card Products Group. Mr. Itkis was responsible for database marketing campaign analytics, performance tracking and account acquisition forecasting. From 2001 to 2003, Mr. Itkis managed execution of Citibank’s direct marketing campaigns, mining, and analyzing data owned by credit bureaus and database vendors to segment and target prospective customers for credit offers, significantly improving Citi’s ability to manage its interaction with potential clients. Mr. Itkis’s areas of expertise are financial modeling, portfolio performance, programming and operations. Mr. Itkis graduated from Cornell University in 2001 with a BS in Economics. Mr. Itkis holds the Chartered Financial Analyst (CFA) designation. He is married with two children.
Michael Rasmussen, JD
General Counsel &
Chief Compliance Officer
Michael Rasmussen is Kore’s Chief Compliance Officer and General Counsel and is responsible for overseeing regulatory and legal matters. Mr. Rasmussen began his career in the securities industry as a regulator with the Financial Industry Regulatory Authority (FINRA) after which he worked for two national compliance consulting firms (National Regulatory Services and National Compliance Services which was bought by Foreside) where he provided legal and compliance consulting services to hundreds of financial services firms including investment advisers, broker-dealers, and private fund operators. Mr. Rasmussen left private practice to become the Chief Compliance Officer and Deputy General Counsel for both Spearhead Capital Advisors and Spearhead Capital. After Spearhead, he was Chief Compliance Officer and Assistant General Counsel for Dakota Wealth Management. Mr. Rasmussen received his J.D. from Shepard Broad College of Law and B.A. in Legal Studies from Farquhar College of Arts and Sciences, both at Nova Southeastern University. He currently maintains FINRA Series 7, 24, 63, and 65 registrations and is a licensed attorney in Florida. He sits on the Board of the Literacy Coalition of Palm Beach County.
Randy Qian, PhD
Chief Technology Officer
Dr. Qian joined the Investment Manager as a Quantitative Developer in 2012 He focuses on developing software solutions relied upon during daily active trading and tailored to the specific quantitative modeling, data aggregation, and trade capture requirements of the Portfolio Managers. His proprietary software powers the backend of Kore’s data driven trader models and implements cash flow and tax analysis that have resulted positive results for the firm Dr. Qian graduated from Northwestern University with a PhD in Mathematics specializing in partial differential equations. Prior to that, he graduated from Princeton University with an A. B. degree in Mathematics. Prior to working for Kore, he worked as a Visiting Assistant Professor at Purdue University, where he taught courses in introductory and advanced topics in Mathematics.