Tammy Miller is a Partner and co-founder of Eight Bridges Capital Management.Ms. Miller is a seasoned portfolio manager, research analyst and banking professional with over 20 years of asset management, equity research and trading, hedge fund, credit research, distressed investments, and structured finance experience.
Previously, Ms. Miller was Co-Portfolio Manager for Value Strategies at Calamos Investments, covering both alternative and traditional asset management strategies, including long-short equity, a dividend/income fund strategy, and traditional long only equity mutual fund strategies. The Opportunistic Value Fund was managed as an all-cap U.S. domestic equity and equity derivatives strategy focused on catalyst driven investment opportunities.The Equity Income Fund was a long-only all-cap income-focused strategy with investments in common and preferred shares and a core income generating sleeve of REITs, LPs, and MLPs.During her time at Calamos, the team grew assets under management in these strategies from $30 million to over $150 million.
Before Calamos, Ms. Miller was Vice President of Research with American Independence Capital Management, where Ms. Miller managed investments in companies in the energy, basic materials, healthcare, non-life insurance, and defense industries.After her 3-person team assumed management of the Stock Fund in 2007, it became the #1 mutual fund in the US for 3 year returns for the period ending July 31, 2010, after being in the top ranks in both 2008 and 2009.The fund was subsequently rated 5-stars by Morningstar and named a “Category King” by the WSJ.
Prior to that, Ms. Miller was Managing Director at Miller & Jacobs Capital, LLC, where she was a Portfolio Manager responsible for all credit-related investments, including loan and structured finance products. In this role, Ms. Miller advised investors with a loan portfolio valued over $300 million.She also was on the portfolio management team for the firm’s hedge fund with over $300 million in AUM.
Before that, Ms. Miller was a Vice President and Portfolio Manager of Mountain Capital Advisors, the CLO asset management arm of Mizuho Financial Group.Her team managed $2 billion in assets in CLOs as well as private equity funds.From 1999 to 2003, Ms. Miller was Vice President & Team Leader of the Asset Recovery Group of The Fuji Bank, Ltd., (later Mizuho Corporate Bank), where she led the loan workout group and was responsible for devising exit strategies for stressed and distressed loans and investments.She handled some of the largest bankruptcies in U.S. history at the time. Ms. Miller worked on over 50 distressed transactions with aggregate exposure of over $1.25 billion.
At Fuji Bank, Ms. Miller was previously Vice President in the Leveraged Finance Group, covering consumer products, entertainment, financial services, and structured finance transactions, among others.She also served as Assistant Treasurer, where she was responsible for the credit and risk management of non-banking subsidiaries including Heller Financial and Fuji Securities.Ms. Miller was particularly focused on Heller’s middle market leveraged finance, real estate finance, asset-based lending, project finance, securitizations, and private equity investments.
Ms. Miller is well respected in her field and has held a number of positions with industry associations. She served as a member of the regulatory and investor committees of the Asset Securitization Forum from 2005 to 2008, served as a Board Member of the Financial Women’s Association from 2004 to 2006, and served on the Distressed Debt Committee of the Loan Syndication and Trading Association from 2000 to 2003.Ms. Miller is also a member of the Portland Alternative Investment Association, and 100 Women in Hedge Funds.
Ms. Miller earned an M.B.A. from Cornell University, and a B.A. in International Politics & Economics from Middlebury College, where she also studied International Economics with Mario Draghi at the University of Florence.
Jeffrey Miller has more than 20 years of experience in the fields of financial analysis, investment management, and business development. He has worked with numerous senior executives, primarily in the financial services industry, and has extensive direct ownership and operational experience in agricultural and consumer businesses. His specialty is quickly focusing on the key drivers of profitability in a business and how to maintain and grow that profit source. He is respected for his ability to navigate through difficult, volatile and uncertain markets profitably.
Immediately prior to co-founding EBCM, Mr. Miller was a Senior Vice President at Calamos Advisors, where he was the co-Portfolio Manager and head of Value Strategies. He was responsible for alternative and traditional asset management strategies, including Opportunistic long-short equity, a dividend-income fund strategy, and long-only equity strategies. The hedged long equity and long-short strategies his team managed returned over 40% in 30 months.
Prior to joining Calamos, he founded American Independence Capital Management (AICM) in 2007. While there, he was recognized as one of the “20 Rising Stars of Mutual Funds” in Institutional Investor’s January 2008 issue. He managed the American Independence Stock Fund starting on May 1, 2007, which subsequently became 5-Star Morningstar rated. The Fund was named a "Category King" for Large Cap Value Funds by the Wall Street Journal for 5 straight months in 2008, and was named Number 1 in its peer group, the Large-Cap Value Funds category, as tracked by Lipper, for the three-year and ten-year periods ended July 31, 2010. The fund beat its benchmark by over 21% in 2008 and 2009.
Prior to AICM, Mr. Miller was co-Founder and co-Chief Investment Officer of Miller & Jacobs Capital, LLC (MJC), which he founded in 1997. MJC managed the Acadia Fund I, LP and Cerulean Partners, Ltd., which were long/short equity hedge funds focused on US special situation and value investments, primarily in financial services companies. At various times during his tenure, funds managed by MJC were ranked in the top 5 in their category by Barclay’s Marhedge. The Acadia Fund I, LP posted the #2 performance in the United States by an equity hedge fund in 1997 and was in the top 5 funds in 2000.
Before MJC, Mr. Miller was Vice President of Equity Research at Keefe, Bruyette & Woods, Inc. Mr. Miller was instrumental in developing valuation models for KBW’s recommended list, and was also a key proponent of focusing on capital management for banks and thrifts as a primary driver of shareholder value creation. While at KBW he was responsible for approximately 1/3 of the firm’s equity research coverage.
Mr. Miller earned his Masters of Business Administration with Distinction from Cornell University. He also earned a Bachelor of Arts degree in History with Distinction from Cornell, where he was a member of the Track & Field Team. He is the co-Founder and Treasurer of the Board of Directors of The Maasai Wilderness Conservation Trust (http://maasaiwilderness.org/), and was Treasurer and executive board member of the Good Hope School in St. Croix from 2007 to 2009. He was a member of the Advisory Council of the Opal Charter School in Portland, OR from 2010 to 2012. He is currently the Treasurer of the Contemporary Art Council of the Portland Art Museum. He owns Cerulean Skies Winery in Hood River, Oregon, and White Space, an art gallery in Portland, OR. He has 4 daughters between the ages of 13 and 18.