Gary Black w

Gary Black

Managing Partner, The Future Fund LLC
Portfolio Manager, The Future Fund Active ETF

Gary Black is the managing partner and co-founder of The Future Fund LLC, an SEC registered investment advisor focused on investing in growth equities of companies that are changing the world. Gary has extensive experience spanning nearly 30 years in top management positions at some of the most well-respected global investment management firms.

As CEO of Aegon Asset Management, he oversaw $120 billion in assets, representing a third of Aegon´s assets and 50 percent of its profits. During his tenure, he created new proprietary investment strategies, expanded the real assets platform, leveraged the company´s solutions-based offerings, and directed the build-out of an ESG fixed income platform.

In 2009, Gary launched and managed Black Capital, a top-performing fundamental-based global long/short equity firm with an eight-person investment team, raising $100 million AUM over three years. The firm was acquired by Calamos Investments in 2012, where Gary became Global Co-Chief Investment Officer. There, he launched two additional long/short equity strategies and served on the Calamos Board of Directors.

At Janus Capital Group, Gary was promoted to CEO, CIO and president after turning around investment performance and growing net flows to +$2 billion in 2008 from -$29 billion in 2004 after the tech bubble burst, market timing changes and the departure of Janus founder and CEO. Under his guidance, the Janus Research Fund and Janus Triton Fund were launched. He also served on the Janus Board of Directors.

Earlier in his career, he was named CIO at Goldman Sachs for the U.S. Asset Management Group and named to the firm´s Partnership Committee. His investment industry experience began at Sanford Bernstein in 1992 as Senior Research Analyst. Gary was rated #1 analyst in his sector by Institutional Investor All America Research Team for six consecutive years from 1993-1998, including his first year in the industry. At Bernstein, within five years he was promoted from Senior Research Analyst to Principal and then Shareholder. He later ran the firm´s global institutional business. In 2001, Bernstein was acquired by Alliance Capital.

Gary was awarded an M.B.A. from Harvard Business School and earned his B.S. in economics from The Wharton School of the University of Pennsylvania.

Gary has been featured in Barron´s and is frequently called upon by the financial press for his insights into the equity markets.

David Kalis

David P. Kalis, CFA

Partner, The Future Fund LLC
Portfolio Manager, The Future Fund Active ETF

David Kalis is the co-founder of The Future Fund LLC, an SEC registered investment advisor focused on investing in growth equities of companies that will be instrumental in changing the world.

In 2017, David founded Curvature Capital Management, LLC, a long/short equity hedge partnership focused on catalyst-driven global equities. Performance for the firm ranked in the top decile of long/short equity hedge funds. In early 2021, he rejoined Gary Black to found The Future Fund. The two had previously worked side-by-side at Calamos Investments.

At Calamos, David headed the Growth Equity Strategies and was a co-portfolio manager. His team managed $6 billion in assets in mutual funds, institutional and separately managed strategies. While there, David restructured several strategies, including changes in philosophy, process, and personnel. As a result, the small-mid cap (SMID) growth strategy ranked in the top decile fund of performance among its peers during David´s tenure as lead manager. As part of his responsibilities, he managed complex relationships between clients, the public company board and the mutual fund board.

An entrepreneur, David founded and managed another long/short hedge fund partnership, Charis Capital Management LLC, focused on SMID-cap equities. This investment strategy was designed to exploit the inefficiencies of the SMID market. His performance ranked in the top decile of equity long/short equity hedge funds. Similarly, during his time at Northern Trust Asset Management (NTAM) in the role of SVP-Group Head of Small/MidCap Institutional Equities, the NTAM active equites mutual fund suite reached the top 10% in its peer group, up from the bottom 10% before he took over. The Mid Cap Growth strategy also achieved top quartile performance.

Earlier in his career, he joined Segall Bryant & Hamill at its founding. He served as a co-manager for both multi-cap and SMID-cap strategies, director of research, and member of the management group. There he was instrumental in developing the firm´s core investment philosophy and process, ushering the firm through a growth phase from $1.2 billion to $5 billion in assets under management. He established and managed the mid cap growth strategy growing it to more than $400 million AUM.

David is a Chartered Financial Analyst, awarded in 1994, and a member of the CFA Society of Chicago. He received a BA in Economics from the University of Michigan.

David has been featured in a wide range of financial publications and is frequently called upon by the press for his expertise.

Dr. Jeffrey Yu

Jeffrey Yu, MD

Advisory Board Member

Dr. Jeffrey Yu is an entrepreneur and radiologist. He founded Kineticor, a biometric intelligence and medical device company dedicated to improving the quality of imaging where he still serves as Chief Executive Officer.

He is also founder, Chief Medical Officer and past Chief Technology Officer (CTO) of OneMedNet, a medical image transfer software company. During his career, he held the position of CTO of Queen’s Medical Center and was a member of the medical advisory boards at Cisco Systems and Change Healthcare.

Jeffrey conducted magnetic resonance research at the Lucas Center Stanford University and is Board Certified in Radiology and Nuclear Medicine. He received his B.S. from the University of California Berkeley and M.D. from Wake Forest School of Medicine, completing a radiology residency and nuclear medicine fellowship at the Mallinckrodt Institute at Washington University.

Wendy Grubbs

Wendy Grubbs, J.D.

Advisory Board Member

Wendy Grubbs, J.D. is currently an independent consultant with a distinguished career in legal, governmental and corporate positions.

She served as special assistant to the 43rd President of the United States, George W. Bush, and as managing director of Citigroup. She also worked in the United States Senate and practiced law in the private sector. Grubbs graduated magna cum laude from the University of North Carolina at Charlotte and received her law degree from Wake Forest University, where she served as the business editor of the Law Review.

Wendy is the founder of the Wendy B Ranch Rescue Foundation, which promotes the adoption of senior dogs, and the spaying and neutering of all pets. She manages the foundation and a family office.


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