Mr. Schiff has more than 23 years of experience developing and investing in asset-backed and structured products. He has a vast depth of knowledge and expertise within the investment segment and is known for his disciplined, risk-sensitive and creative approach to investing. His asset knowledge includes a broad range of real and financial assets such as rail, aircraft, shipping, credit card receivables, auto loans, sub-prime auto loans, cat bonds, real estate, premium finance, equipment loans and leases, unsecured consumer lending, future flow securitizations, non-performing assets, small business loans, franchise loans, litigation claims, intellectual property, bank loans, financial guarantee insurance, municipal risk, mortality bonds, commercial and residential mortgages, commercial and residential real estate, dealer floorplan loans, medical receivables, trade receivables, fleet rentals, and collateralized debt obligations (“CDOs”).
Mr. Schiff serves on the Board of Directors of Flagship Marine Ventures LLC (shipping business focused on the LR product tankers), Infinity Transportation III LLC (railcar and intermodal leasing business), and White Pine Trading LLC (diamond trading business), as well as other portfolio investments. From 2008 to 2016, Mr. Schiff was a Partner at Perella Weinberg Partners and was the Portfolio Manager of the Asset Backed Value Funds that had approximately $2 billion of equity under management at the time of his departure. Under his and the investment team’s leadership, the Asset Backed Value Funds have received numerous recognitions, some of which are listed below:
- Winner of HFM Best Relative Value Fund (2014)
- Nominee for HFM Best Credit Fund Under $1 billion (2014)
- Nominee for HFM Best Fixed Income Fund Under $1billion (2013)
- Nominee for Absolute Return 5 Year Long Term Performance (2013)
- Barron’s Top 100 Hedge Funds (2013)
- Bloomberg Brief’s Top 20 Best Performing Asset-Backed Funds by Trailing One-Year Returns (May 2013)
- Barron’s Top 100 Hedge Funds (2012)
- Winner of Absolute Return Best Distressed Fund of the Year (2011)
- Winner of Absolute Return Best Distressed Fund of the Year (2010)
Through Mr. Schiff’s and the Asset Based Value investment team’s leadership, over a dozen different operating businesses and joint ventures have been launched. Today, the ABV Fund’s businesses employ over 1,250 people.
Prior to joining Perella Weinberg Partners, Mr. Schiff was the CEO and CIO of Broadworth Capital, an asset-backed focused investment vehicle for two high net worth families in 2007. In 2006, he was a Managing Director at Amaranth Advisors, where he was responsible for the construction of its non-mortgage ABS portfolio, and subsequently oversaw the liquidation of that portfolio. From 2003 to 2005, Mr. Schiff was a Director at Wachovia Securities, where he was responsible for developing various structured principal finance opportunities. From 1993 to 2001, Mr. Schiff held various senior management positions while he was at JPMorgan in the Asset Backed Securities (“ABS”) and Securitization groups.
Mr. Schiff received a B.S. with distinction in Economics from Cornell University.