ESM Management LLC ("ESM") is a SEC registered investment advisor that was founded in 2009 by Eric Meyer.  Our investment focus is on identifying inefficiencies affecting senior tranches of secured credit structures.  Historically we have focused particularly on the mortgage backed securities market.   ESM is the subadvisor to the Rational Special Situations Income Fund and the Catalyst International Income Opportunity Fund.  In addition, ESM manages both private funds and separately managed accounts.  As of December 31, 2024, our regulatory AUM was $1,096,468,314.

Our Team:

Eric S. Meyer: (Co-Portfolio Manager) has been working in finance since 1995 and he founded ESM Management LLC in January 2009.  From 1997 through 2008, Dr. Meyer worked at Susquehanna International Group.  His primary responsibilities included building and managing the Emerging Markets bond trading group, building and managing a fixed income arbitrage group, creating and managing tax-advantaged trading strategies, and since 2005 trading and investing in mortgage backed securities. From 1995-1997, he was a quantitative researcher in the fixed income relative value arbitrage group at D. E. Shaw & Co., a hedge fund based in New York.  Before entering the financial field, Dr. Meyer was a physicist at the National Institute of Standards and Technology in Gaithersburg, MD.  He received both his A.B. degree and Ph.D. degree in Physics from Harvard University and his JD from Boston College Law School. has been working in finance since 2005.

William R. Van de Water: (Co-Portfolio Manager) joined ESM as a RMBS analyst and trader in June 2009 and became a managing director in December 2009.  In 2014, Mr. Van de Water became a co-portfolio manager at ESM Management.  From 2005 through March 2009, Mr. Van de Water worked in the Boston office of Susquehanna International Group.  His primary responsibility was to analyze and trade mortgage backed securities.  Mr. Van de Water earned joint B.S. degrees in Physics, Business, Economics, and Management from the California Institute of Technology in 2005. 

David Jelinek: (Head of Risk and Research) joined ESM Management in 2017. Prior to joining ESM, Dr. Jelinek was a partner and the Director of Quantitative Strategies at Carlyle Commodity Management (formerly, Vermillion Asset Management) from 2006-2016. In his role he formulated and directed all quantitative strategies and research for the firm. Prior to joining Vermillion, Dr. Jelinek worked at D. E. Shaw & Co from 2004-2006 where he was a quantitative analyst. His responsibilities included equity modeling and research into decisions affecting long- only portfolio management. Dr. Jelinek began his career in 2001 at Susquehanna International Group, where he worked in options and equity research. Dr. Jelinek received his undergraduate degree in mathematics from Brown University and earned his PhD in computer science from the University of Pennsylvania. 

Christopher Zuech: (COO/CCO)  joined ESM Management in 2017.  Prior to joining ESM, Mr. Zuech was also a partner and the COO, CFO and CCO of Carlyle Commodity Management (formally, Vermillion Asset Management) from 2005-2016. He was focused on overseeing the non-investment related activities of the company. Prior to Vermillion, Mr. Zuech was CFO for Lyra Capital and Starview Capital Management from 2004-2005. Mr. Zuech was a SVP at ADP/OMR from 1993-2004 where he was a partner and ran various facets of the business including the hedge fund administration group, client services, sales and software development. Before joining OMR, Mr. Zuech worked at Deutsche Bank, Balis, Zorn, Gerard and EF Hutton in various roles. Mr. Zuech is a graduate of Mt. St. Mary’s University. 

For information on the Rational Special Situations Income Fund:
https://rationalmf.com/funds/rational-special-situations-income-fund/

For information on the Catalyst International Income Opportunities Fund:
https://catalystucits.com/catalyst-international-income-opportunities-fund/

For information on our SEC registration, including our latest Form ADV filing:
https://adviserinfo.sec.gov/firm/summary/150142

Any information contained herein may contain statements of a forward-looking nature relating to future events.  These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and reflect only the Firm's current beliefs and opinions.  A number of important factors could cause actual results to differ materially from the opinions expressed herein.  All opinions are subject to change without notice. No representation, guarantee express or implied, or warranty is provided as to the correctness, completeness or timeliness of information provided herein. All investments involve risk of loss, including the possible loss of all amounts invested, and nothing herein should be construed as a guarantee of any specific outcome or profit. Past performance is no indication of future results. Nothing contained herein should be regarded as an offer or solicitation to provide advisory services in any jurisdiction where such an offer or solicitation would be in violation of any local laws. This site is strictly provided for information purposes and in no way should anything contained herein be considered a solicitation or inducement for any investment vehicle managed by ESM Management LLC.