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Our History details...
 

Princeton Capital Management was formed in 1988 to offer to a select client base of high net worth individuals and institutions the successful analytical and investing methods practiced by its founders during their long and well-regarded careers at a number of prestigious institutions.

Drawing upon their expertise in the fundamental analysis of a broad range of securities - from the largest of companies around the world to the youngest and smallest U.S. based companies – the founding partners developed a method of portfolio management that looked beyond the restrictive parameters of investment strategy style labels or benchmark considerations. They believed their clients would derive greater benefits from an approach that combined an expansive analytical consideration of companies large, small, young and mature, with disciplined portfolio construction focused on optimizing the balance between risk and return.

Over the past twenty-eight years, Princeton Capital Management has demonstrated the soundness of this approach by delivering competitive long-term returns across each of our investment strategies.

 
Our Organization details...
 

Managing investment portfolios is Princeton Capital Management’s only business. Our resources are focused on fundamental security analysis, portfolio construction, investment operations and client service – nothing else.

Moreover, most members of the investment team serve as both analysts and portfolio managers, eliminating the layers, and thus the distractions, common to firms with separate research and portfolio management staffs.

We pride ourselves on being an organization of equals. This is beneficial to clients as it allows each member of the team the confidence to present an opinion on investment ideas versus deferring to either a group or an individual perceived to have greater authority than others. It is our experience that hierarchical organizations and the committees associated with such structures rarely facilitate successful stock investing. A group in which respected peers, unafraid of the repercussions of honest appraisals, surround a designated person with final authority has been a demonstrably winning method of making successful investment decisions.

Princeton Capital Management has remained an independent, owner-managed firm since its inception, and owner assets are invested alongside those of our clients. We believe our clients have benefited from the Firm’s organizational stability and shared goals.
 
Our Team details...
 

Investments

  Alfred R. Berkeley III

Chairman/Investment Manager/Analyst

Al resumed the Chairmanship of the Firm in January 2013, a position previously held from 1996 to 2006. In 1996, Al was named President of NASDAQ Stock Market, Inc. and served as President until 2000 and then as Vice-Chairman until 2003. Prior to returning to Princeton Capital Management, Al was Chairman of Pipeline Financial Group, Inc. Earlier in his career, Al served as a software analyst at Alex. Brown & Sons where he was designated First Team All American analyst by Institutional Investor Magazine. As a General Partner of Alex. Brown & Sons, he served as the Firmís Chief Information Officer. He has served as a Director of a number of public and private companies, institutions and non-profit organizations including Safeguard Scientifics, Policy Management Systems, Comshare, Cognos, Webex Communications, ACI Worldwide, Realpage, Edgar Online, The Nature Conservancy, The World Economic Forum USA and Johns Hopkins University among others. Al has also served as a member of a number of government advisory panels: The Presidentís National Infrastructure Advisory Council, U.S. Department of Homeland Security Committee on Homeland Advisory System, Committees on Scientific Communications and National Security, Monetary Authority of Singaporeís International Advisory Council, among others. He has testified before Congressional committees (Joint Economic Committee, House Homeland Security Committee, and House Permanent Select Committee on Intelligence). Al took his bachelors degree from the University of Virginia and his MBA from the Wharton School and has served as an officer in the US Air Force and the US Air Force Reserve.


  Kenneth T. Berents

Analyst

Co-Chairman, Investment Committee

Ken has more than 31 years of investment experience, and now serves as the Co-Chairman of Princeton Capital Management's Investment Committee. He began working with the Firm as an Advisory Director in 2007, while also managing family funds and serving on Boards or Advisory Councils of several corporate and not-for-profit organizations. Previously, Ken was a Managing Director of Goldman Sachs Asset Management, serving as Senior Portfolio Manager and Co-Chairman of the investment committee of the Growth team, which managed over $25 billion in assets. Prior to that he was the Director of Equity Research for Wheat First Union, now part of Wells Fargo. Earlier in his investment career, he was a senior research analyst with Alex. Brown & Sons, Legg Mason, and Wheat First Butcher Singer where he was named a Wall Street Journal All Star Media Analyst. A graduate of Villanova University, Ken also received an MA in Journalism from the University of Missouri. Before entering the investment field, Ken was a newspaper reporter, and named an Alfred P. Sloan Fellow in Economics at Princeton University's Woodrow Wilson School while working for the Baltimore Sun.


  Steven Reynolds

Co-Chairman Investment Committee / Analyst

Steve has worked in senior management positions at leading wealth management companies. He started at Capital Group as a research analyst, portfolio manager, and Director of Research and has been a portfolio manager and led investment teams at Alliance Capital, Bankers Trust, and IDS. Steve was the Chief Investment Officer at Kemper Investments and Wachovia Corporation as well as at hedge fund Craig Drill Capital. He has served as a Trustee of The Johns Hopkins University and chaired the Investment Committee for the Universityís Endowment. He also served on the Board of Governors of Parsons The New School for Design. He received his BA in Economics from The Johns Hopkins University and his MBA from the University of Virginia Colgate Darden Graduate School of Business.


  Sam J. Milstein

Analyst

Sam has been a consultant in the life sciences to Princeton Capital Management since its inception in 1988. He is currently President of Mortar & Pestle Consulting, a practice servicing financial and pharmaceutical companies. Previously, he was founder and CEO of Fulcrum Pharmaceuticals. He also served as President of Emisphere Technologies. Sam holds numerous patents on physico-chemical mechanisms for drug delivery. He was a chemistry major at City College of New York, and earned an M.S. in physical chemistry from University of New Brunswick and a PhD in biochemistry from New York University.


  Hugh Fitzpatrick

President/Investment Manager

Integral to his focus on client relationships, Hugh is part of the investment team and provides capital markets perspective. Hugh has worked with institutional investors and in capital markets both in the United States and in London for more than thirty years. Prior to joining the Firm in 2006, Hugh was a Managing Director at Wachovia Securities (and successor firms before combining into Wachovia). Before that he was with Alex. Brown & Sons as a Senior Vice President, which included several years as manager of Alex. Brownís international trading in London. Hugh was also previously associated with Wm Sword & Co., where he worked in fixed income and equity trading and in research. He graduated from Duke University with a BA in History.


Client Relations/Marketing

  Hugh Fitzpatrick

President/Investment Manager

Integral to his focus on client relationships, Hugh is part of the investment team and provides capital markets perspective. Hugh has worked with institutional investors and in capital markets both in the United States and in London for more than thirty years. Prior to joining the Firm in 2006, Hugh was a Managing Director at Wachovia Securities (and successor firms before combining into Wachovia). Before that he was with Alex. Brown & Sons as a Senior Vice President, which included several years as manager of Alex. Brown’s international trading in London. Hugh was also previously associated with Wm Sword & Co., where he worked in fixed income and equity trading and in research. He graduated from Duke University with a BA in History.


  H. Canfield Pitts II

Vice President

Prior to joining the Princeton Capital Management team, Toby spent 25 years with Merrill Lynch, retiring as a Senior Vice President. His broad range of experience at Merrill Lynch included serving as financial advisor, training and branch office manager. Thereafter, Toby served as the budget director for the Baltimore City Public School System where he was responsible for their $1.4 billion dollar budget. He also played a key role in developing and implementing Baltimoreís student-based funding formula, a national model for Fair Student Funding and decentralized school budgets. Throughout his career, Toby has been actively engaged in the Baltimore community serving on a number of boards including the Baltimore Curriculum Project, the Institute for Christian & Jewish Studies, and the National Parks and Conservation Association. He is a graduate of Kenyon College (1973) with a BA degree in English and Religion.


  Dan Mueller

Vice President of Business Development

Prior to joining the Princeton Capital Management team, Dan started his career working in media at CNN and the Weinstein Company. He transitioned into a Financial Advisory position in Manhattan with Axa Advisors in 2011. Two years later, Dan joined Morgan Stanley and spent three years there in an advisory role. He joined Princeton Capital Management in May of 2016. He is a graduate of Fairleigh Dickinson University (2007) with a BA in Communication.


Operations

  Kenneth Paulo

Ken joined Princeton Capital Management in 2013 and is responsible for portfolio and Firm administration. From 2000-2011 Ken was a Partner at Williams Jones & Associates, an investment management firm in New York City, where he managed the firmís operations. Previously, he was a Vice President at Fiduciary Trust International, working as a Portfolio Administrator. He began his career at Chase Manhattan Bank where he worked in various positions in operations. Ken received his BS in Economics from the University of Albany in 1978 and his MBA from Wagner College in 1983.


  Karen Keeler

Chief Compliance Officer/Senior Operations Associate

Karen joined Princeton Capital Management in 1999, and currently serves as Chief Compliance Officer. In addition to her responsibilities in investment and marketing operations, Karen oversees trading and is the Firm’s Corporate Secretary. Prior to her association with Princeton Capital Management, Karen was instrumental in the formative growth and development of TMG, Inc., a business software development enterprise. Karen graduated from Duke University with a BA in Economics. Immediately thereafter she was employed by the United States Tennis Association.


 
   
 
Perspective · Perseverance · Patience · Performance