Senior Investment and Business Team

Alfred J. Shuman  - Image

Alfred J. Shuman

Founder / Managing Member

Mr. Shuman founded Archstone in 1990. He is the Managing Member and Co-Portfolio Manager. Since his graduation from Harvard College and Harvard Business School in 1963, he has been consistently employed in the investment industry. He was named a Managing Director of The Bear Stearns Cos. in 1978 and five years later he founded the first of three event driven hedge funds. Mr. Shuman and his wife are active in many non-profit organizations. He is a member of the Investment Committee of The Andover Endowment Fund, a National Director Emeritus of Outward Bound U.S.A. having served on its Board for 19 years. He is a Trustee, former Chairman of the Executive Committee, member of The Steering Committee and Co-Chair of Development of N.Y. City Center. He is also a Trustee of The Central Park Conservancy and serves on its Strategic Planning and Development Committees. He and his wife have collected photography for decades and are active at The International Center of Photography and the Santa Barbara Museum’s Photofutures group. They maintain a Foundation which promotes research of “orphan diseases” and supports laboratories at two hospitals in the NYC area.


Joseph S. Pignatelli, Jr.  - Image

Joseph S. Pignatelli, Jr.

President / Member

Mr. Pignatelli is the President and Co-Portfolio Manager. He is also a Member of A.P. Management Company, LLC and Archstone Management Company, LLC. Additionally, he has been a Director of Archstone Offshore Fund, Ltd., Archstone Absolute Return Strategies Fund, Ltd., Archstone Equity Strategies Fund, Ltd., and A.P. Opportunities Fund, Ltd. since their formations. He has over 30 years of investment management experience. Mr. Pignatelli directs the ongoing operations of the Investment Manager and all related investment entities, including all management and financial matters. His responsibilities also include investment policy, portfolio management, and manager selection and he is a member of Archstone’s Executive Committee, Investment Committee, and Research Committee. He received his B.B.A. in management and information systems from Pace University. He earned an M.S. in finance from Baruch College, Zicklin School of Business. Mr. Pignatelli currently serves as a Trustee of the Baruch College Fund and is a member of the Investment Committee of the Baruch College Fund. 


David R. Parker - Image

David R. Parker

Chief Operating Officer / Member

Mr. Parker is the Chief Operating Officer of Archstone. He is also a Member of A.P. Management Company, LLC and Archstone Management Company, LLC. He joined Archstone in 2003 and is responsible for strategy, long-range planning, governance, and all management-related issues. In addition, he leads Archstone’s Operational Due Diligence team and is a member of Archstone’s Executive Committee. Mr. Parker received a B.S. degree in engineering from the University of Texas and an M.B.A. degree from Harvard Business School where he was a Baker Scholar. From 1972 to 1976 he was a manager with the Boston Consulting Group. For the next eight years, he was Executive Vice President of American Can Company and then was President of Ryder System’s vehicle leasing and service division. In 1992, Mr. Parker organized ProSource, Inc. He grew the company to $4 billion in annual revenue taking it public in 1996 before selling his stake in 1998. After ProSource, Mr. Parker co-founded Interprise Technology Partners, L.P. capitalized at $110 million to make private equity investments in information technology companies. Mr. Parker is a Director of Tupperware Corporation and Chairman Emeritus of the Board of Trustees of Florida International University, a 48,000 student public university in Miami-Dade County, Florida. He was Chairman of the FIU Foundation board from 1994 to 1997 and Chairman of the Board of Trustees of the University from 2005 through 2009.


Andrew J. Small, CPA  - Image

Andrew J. Small, CPA

Chief Financial Officer / Member

Mr. Small is a Partner and the Chief Financial Officer. He is a Certified Public Accountant with in excess of 19 years of accounting experience. He manages Archstone’s internal financial systems, portfolio reporting, and participates in the ongoing hedge fund manager due diligence effort. He is a member of Archstone’s Investment Committee and attends all Research/Investment Committee Meetings. Mr. Small earned a B.S. in Economics from the University of Binghamton and holds a Masters Degree in professional accounting from the University of Hartford. Prior to joining Archstone in 1994, he worked as an accountant at Arthur Young & Co., Richard Eisner & Co., and Sanwa-BGK Securities, Co.


Mark P. Smith, CFA  - Image

Mark P. Smith, CFA

Deputy Portfolio Manager / Member

Mr. Smith is the Deputy Portfolio Manager. He has over 15 years of investment management experience. He manages the research process at Archstone, including due diligence, manager evaluation, and quantitative analysis, and is a member of Archstone’s Research Committee. Additionally, he supports Joe Pignatelli and Alfred Shuman in managing Archstone’s various portfolios. He leads the monthly Research/Investment Committee Meetings and acts as the liaison between the Investments and the Investor Services groups within Archstone. Prior to joining Archstone in January 2008, Mr. Smith spent five years as a Vice President and Strategy Specialist in the Hedge Fund Investments group of Northwater Capital Management, Inc., a multi-billion dollar fund of hedge funds company. From 1998 to 2000, Mr. Smith was an Assistant Portfolio Manager at Southport Management Group, Inc., a convertible arbitrage hedge fund. Mr. Smith is a CFA charterholder and a member of the New York Society of Security Analysts. Mr. Smith is a graduate of St. Paul’s School in Concord, NH. He received his B.A. in Economics from Wesleyan University and his M.B.A. from Columbia Business School. Mr. Smith currently serves as a Member of the St. Paul's School Alumni Association Executive Committee.


John C. Marshall, Jr.  - Image

John C. Marshall, Jr.

Managing Director of Client Services / Member

Mr. Marshall is the Managing Director of Client Services and is a Member of A.P. Management Company, LLC and Archstone Management Company, LLC. He is responsible for the development, implementation and management of the marketing and investor relations functions for Archstone. Prior to joining Archstone in January 2002, he was a Senior Vice President of Alternative Investment Marketing at Asset Management Services LLC. Before that,Mr. Marshall spent 19 years as a Vice President in the institutional fixed income departments of JP Morgan and Salomon Brothers Inc. where he focused on implementing portfolio strategies for insurance companies, mutual funds and other large institutional investors. Mr. Marshall received his A.B. in Economics with Distinction from Dartmouth College.


Charles D. Hayley-Bell  - Image

Charles D. Hayley-Bell

Managing Director, International

Mr. Hayley-Bell is Managing Director, International. He is responsible for client service and investor development primarily in the international markets. Prior to joining Archstone in August 2013, Mr. Hayley-Bell spent fourteen years at HSBC Private Bank in both the US and Europe. He most recently headed sales and marketing for HSBC Alternative Investments in the Americas, with specific focus on Latin America. Previous roles within the Alternative Investment Group included product development, portfolio management, and hedge fund advisory. Mr. Hayley-Bell received an M.A. in Economic History from Edinburgh University.

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Rinarisa Coronel DeFronze, Esq.  - Image

Rinarisa Coronel DeFronze, Esq.

General Counsel / Chief Compliance Officer

Ms. DeFronze is the General Counsel and Chief Compliance Officer of Archstone. Prior to joining Archstone in 2013, Ms. DeFronze was the Assistant General Counsel and Compliance Officer of Alden Global Capital LLC, a distressed and global opportunities hedge fund firm. Prior to Alden, Ms. De Fronze was a partner and managing director of HedgeOp Compliance, LLC, a boutique firm that specializes in compliance, operational and due diligence support services for hedge fund and fund of hedge fund managers. Ms. DeFronze began her legal career as a corporate associate in the investment management department of Schulte, Roth & Zabel, LLP where she worked with institutional and entrepreneurial investment managers to facilitate the formation and operation of domestic and offshore hedge funds. Ms. DeFronze graduated from Fordham University in 1998 with a BA in Economics and a minor in Finance and received a JD from Hofstra University in 2001. She was admitted to the New York State Bar in 2002 and has been an Investment Adviser Certified Compliance Professional since August 2006.


Michael A. Paciullo  - Image

Michael A. Paciullo

Director of Operations

Mr. Paciullo is the Director of Operations. He works closely with the Chief Operating Officer on the operational activities of the firm. His responsibilities include managing Archstone’s group of outside service providers, executing hedge fund allocations and performing operational due diligence. Mr. Paciullo attends all Research/Investment Committee Meetings. Mr. Paciullo joined Archstone from IAM Limited LLC, NY, a $3B European based fund of hedge funds. He has extensive operational, systems, treasury and hedge fund due diligence experience having also worked at J.P. Morgan Chase, Deutsche Bank and Pioneer Alternative Investments. Earlier in his career, he was a US Government Securities trader at Chase Securities and Fuji Securities. Mr. Paciullo received his B.S. in Industrial Engineering at Columbia University School of Engineering in 1987 and his MBA in Finance from Columbia University Graduate School of Business in 1991.