The BlueStar Business Advisory Board (“BBAB”) is a forum for experienced professionals to provide BlueStar with high-level advice and perspective, assisting us in executing our mission: to develop investment research and strategies that provide global investors with efficient access to the full range of Israeli asset classes. Members provide insight on our strategic alternatives, financial decisions, and tactical options. The Advisory Board also serves as a consultation group for the discussion of new product development and the marketing and positioning of BlueStar’s products and capabilities. Members include investment product innovators, experienced asset management professionals, current and former fiduciaries/investment committee members, legal experts and academics, industry-specific experts, and seasoned exchange/trading community executives. The Board meets semi-annually.
Professor Stephen Wallenstein – Chairman :
Steve Wallenstein recently retired a Professor of the Practice at the Robert H. Smith School of Business and as director of the Directors’ Institute at the Smith School, an ongoing series to address the challenges of corporate governance and imperative of diligence, ethics and controls in corporate America. Professor Wallenstein is a recognized expert in corporate governance and best practices for publicly traded companies in the US and abroad. From 1998 to 2009 he was a faculty member at the Fuqua School of Business and Duke Law School, founded the Duke Directors’ Education Institute in 2002, and established the Duke Global Capital Markets Center (GCMC) in 1998, a collaborative venture between Fuqua and Duke Law.
Wallenstein is also an expert on emerging markets, having spent fifteen years as Senior Counsel and Senior Investment Officer at the International Finance Corporation arm of the World Bank in Washington D.C. He was responsible for structuring and negotiating international project finance, privatizations and capital markets transactions in Eastern Europe, Latin America and Asia.
Wallenstein, who speaks fluent Portuguese, maintains close ties with Brazil, where he taught law and development at the Catholic University in Rio de Janeiro, as well as finance courses on the Global at Fundacao Getulio Vargas. He was a member of the Board of Directors of CVRD – INCO (Canada) and a member of the Audit Committee from 2006-2007, and a corporate governance advisor to the Management Committee of Companhia Vale do Rio Doce (VALE) from 2007-2009. Professor Wallenstein has a BA with honors, Phi Beta Kappa, from Cornell University, an MA in government from Harvard University and a JD from Yale Law School.
Salo Aizenberg is the President of Downtown Investment Advisory (DIA), a Registered Investment Advisory firm that provides customized investment solutions to individuals and institutions, with a focus on private foundations. DIA was founded by Mr. Aizenberg in October 2013 after a 19-year career in institutional finance and investing.
Prior to DIA, Mr. Aizenberg was a Managing Director and Head of Business Development for RLJ Credit Opportunity Fund, an investment fund with over $100 million in assets that provides mezzanine loans and equity investments to middle market companies. RLJ Credit is part of the RLJ Companies, which is led by Robert L. Johnson, the founder and former Chairman of Black Entertainment Television (BET). From 2010-2012, Salo was a Managing Director at Westbury Partners, where he was responsible for originating and executing senior debt, mezzanine, and equity investments for Westbury’s $200 million hybrid debt and private equity fund. From 2005-2010, Mr. Aizenberg was a Managing Director at Global Leveraged Capital (GLC), managing a wide range of fixed income investments for GLC’s $500 million CLO. Mr. Aizenberg began his career in finance with the Media & Telecom Finance Group at Paribas in 1995. He later acted as Team Leader for the Acquisition Finance Group at BNP Paribas. Earlier in his career, Mr. Aizenberg was a Consultant with Ernst & Young in the Information Technology Group, serving clients in the utilities and publishing industries.
Mr. Aizenberg received a B.S. in Management Information Systems from the State University of New York at Binghamton and an MBA from Columbia Business School in 1994. Mr. Aizenberg currently serves as Director and investment advisor for a multi-million dollar private foundation and serves on the Board of Trustees and the Investment Committee of the Solomon Schechter School of Westchester. Mr. Aizenberg recently authored Hatemail: Anti-Semitism on Picture Postcards which was published by the Jewish Publication Society in November 2013.
Shmuel Ben-Tovim is the Director of Ben-Tovim Consultants Ltd., an Israeli business development, and investment banking firm, which he founded in 1991. Mr. Ben-Tovim’s career has encompassed both the private and public sectors. From 1983 to 1987 he was Assistant Director General of the Bank Leumi Group and Chief Executive of its subsidiary Bartrade Ltd. In 1998 he was directly elected as the Mayor of Kfar Shmaryahu. In 2005 Mr. Ben-Tovim was seconded to the Embassy of Israel in London to serve as the Minister for Economic Affairs for a 5-year term. His brief included, among others, the City of London and inter-governmental financial issues. Mr. Ben-Tovim started his career with the Ministry of Industry, Trade & Tourism, 1974 – 1983. His positions included Israel’s Consul & Trade Commissioner to the USA, based in New York, and the Chief Economic Adviser to the Minister.
He has served as non-executive director of major Israeli companies, including Bezeq Ltd., Israel Chemicals Ltd., and the Jerusalem Economic Corporation Ltd. Currently, he is Chairman of Asquith Israel, a start-up merchant bank. He was a board member of the Tel-Aviv Chamber of Commerce and the Israel Export Institute. He has a special passion for Israel-Diaspora relations and was Chairman of the Israeli Forum, The Israeli Amuta of the San Francisco Jewish Federation and the Mayors’ Committee on Israel-Diaspora Relations He is the author of Destination America, published 1986.
Mr. Ben-Tovim holds an MBA from the Hebrew University. He was a Senior Lecturer at Open University and at the Israeli campus of the University of Derby. He was born in Tel Aviv in 1950 and lives in Kfar Shmaryahu with his wife Judith, an interior designer. Together they have 3 married children and 3 grandchildren. He has served in the Israel Defense Forces and retired as a Major in the reserve forces.
Clive Lipshitz has extensive experience in alternative investments strategy, marketing, product and business development. He has been involved in the launch of more than 30 new businesses and funds that in aggregate account for more than $10bn in AuM and are in such diverse asset classes as infrastructure, commodities, real estate, credit, and various emerging market strategies. He has been responsible for launching new funds offered to institutional, private bank, and retail investors in the U.S., Europe, and Asia and for establishing strategic distribution relationships and joint ventures.
Clive spent the past nine years at Credit Suisse – initially reporting to the CFO of CSFB and then for seven years he was in the alternative investments and then emerging markets groups in the bank’s asset management business. Prior to joining Credit Suisse, Clive was a deal professional at TDA Capital Partners (an emerging markets private equity manager) and PaineWebber (where he was part of a team in the Chairman’s Office that invested balance sheet capital in venture investments). He was previously a sell-side technology analyst at Salomon Smith Barney and a CPA at Price Waterhouse.
Clive has lived and/or worked in the U.S., South Africa, Israel, and Hong Kong. Clive received his BA in Economics and MBA from Tel Aviv University. He is active in several local and national non-profit organizations.
Christina Polischuk is a senior executive in financial services with years of experience at various organizations working in both business and legal capacities and has established a proven record as a seasoned leader. Christina’s career has included over thirteen years with BlackRock and its predecessor firm, Barclays Global Investors (BGI), initially as General Counsel and subsequently as Head of its US Institutional Client Sales & Service Group, as Global Head of the Strategic Relationship Management Group and as Global Head of the Product Engagement Group. She has also served as Chief Operating Officer for an investment management technology company and as advisor or director to a number of asset management firms, start-up companies and non-profit organizations including Goodwill Industries of San Francisco, San Mateo & Marin Counties from 2004-2012, the Center for the Advancement of Sustainable Enterprise, and board member of Fitness Anywhere, Inc. maker of the TRX.
Christina’s experience also includes fifteen years of experience as corporate counsel with leading financial services firms, including Charles Schwab & Co, Greenwich Capital Markets, and Citibank, NA. Christina earned an LLM in taxation from New York University School of Law, a JD from Villanova University School of Law, and a BA cum laude from the University of Delaware.
Louis Wolfson III
Louis Wolfson III is a Partner of Pinnacle Housing Group and PHG Builders, Incorporated. Pinnacle develops, builds, and owns 6,000 completed and occupied affordable multi-family apartment units thru-out the state of Florida, Mississippi and Texas. This track record ranks Pinnacle as one of the leading Affordable Housing Experts, currently ranked #7 in the USA and #2 in the Southeast.
Louis serves on four Endowment Investment Committees investing over $800 million for local Miami institutions. He is the Co-Founder of the Jewish Federation of North American’s Investment Institute, which brings together over $30 billion dollars of endowment monies from Jewish Federations throughout North America.
Previously, Louis founded, brought public, controlled and sold “The Video Jukebox Network”. This 14-year-old Miami-based company had over 50 million subscribers worldwide and was sold to MTV in 1998 as an interactive internet company. Louis was trained in business by his grandfather, Mitchell Wolfson who was the Founder, President, and CEO of Wometco Enterprises. Wometco had over 8,000 employees and was a NYSE top 400 company when the family sold it to KKR in 1985. Louis is a fifth-generation Floridian, with roots in the original Florida Jewish community of Key West.
Michael S. Yavner:
Michael S. Yavner is a Managing Director of Waypoint Real Estate Investments and President of The Yavner Group, serving high-net-worth individuals, family offices, and institutional fiduciaries in efficient allocation and perseveration of their capital.
Michael’s background and over 17 years of experience in the Wealth Management and Private Banking sector give him an added advantage when evaluating options for clients. He was a Wealth Strategist at Northern Trust and Senior Director at BNY Mellon Wealth Management prior to starting his entrepreneurial endeavors.
Michael serves on the board of the Greater Miami Jewish Federation, and has been the Campaign Chair for North Dade. He is also Vice-Chair and serves on the board for The Victory School, a school for children with Autism and related disabilities. He is member of the American Israel Public Affairs Committee and an active member of the Aventura Marketing Council and previously served as Chair of the Aventura Young Professionals group.
Michael has served on the board of Mount Sinai Founders, has chaired several events for the Anti-Defamation League, and has been involved with the Reach for the Stars Foundation, for individuals with Cystic Fibrosis. Michael is a graduate of the University of Florida Business School.
Carlos Guttierez Jr.
Carlos Miguel Gutierrez is the Founder and CEO of Highline Point Group, LLC., a strategic advisory firm based in New York City. Carlos is also a Managing Director of Golden Seeds, one of the nation’s most active early stage investment firms. Golden Seeds focuses on the vibrant opportunities of women-led business. Carlos has advised, mentored, or invested in companies across various sectors including PropTech, Ed-Tech, Cyber-security, Venture Capital, and Financial Services. Carlos currently serves on the Advisory Boards of CertifID, a platform that instills trust in the real-estate funding process through real-time identity and account credential verification; Chloe Capital, a Venture Capital firm focused on tech-enabled companies with talented, hard working, diverse teams; and BlueStar Indexes, a financial research and data firm that specializing in the Israeli and global technology markets
Prior to founding Highline Point Group LLC., Carlos was a Senior Government Affairs Advisor in Clark Hill PLC’s Government and Public Affairs Group, where he helped clients understand the political, legislative, and regulatory landscape impacting their business priorities. Passionate about economic development, Carlos worked at the Inter-American Development Bank where he focused on trade facilitation, private sector development, and foreign investment promotion. He has also worked in various capacities in the U.S. House of Representatives and was a 2018 SAFE Energy Security Fellow, a selective program for individuals who are passionate about advancing a national conversation on the future of American energy security. In 2017 he was a Presidential Leadership Scholar, a selective leadership development initiative. In his free time, Carlos serves as a Mentor in the Stanford Latino Entrepreneurship Initiative. Carlos also serves as a Board Member of American Friends of Soroka Medical Center. An avid writer,
Carlos is a contributor to The Jerusalem Post, Asia Times, and the Times of Israel. His writing has also been featured in HuffPost, CNBC, Univision, and El Pais. He holds a B.A. from the University of Michigan, a Master’s degree from Georgetown’s McDonough School of Business, and a J.D. from Georgetown University Law Center.
Ambassador David Adelman
David I. Adelman is an American lawyer, diplomat, and legislator. He was the United States Ambassador to the Republic of Singapore from 2010 to 2013. He is a partner in the global law firm Reed Smith LLP working out of the firm’s New York office and regularly traveling to the offices in Asia. Adelman is former Managing Director of Goldman Sachs He is an Independent Non-Executive Director of Noble Group Holdings, and a senior advisor to indexing firm BlueStar Indexes,private equity firm Olympus Capital and merchant bank Ion Pacific.
Throughout his legal career, Adelman has served in a variety of roles across the public and private sector. He was an Assistant Attorney General for the State of Georgia after which he joined the law firm of Sutherland, Asbill and Brennan LLP. In 2002, Adelman was elected to the Georgia State Senate. In the Senate, Adelman served as Minority Whip and as Chairman of the Senate Urban Affairs Committee
In 2009, President Barack Obama nominated Adelman to serve as U.S. Ambassador to Singapore. He was unanimously confirmed in 2010 and held the post until late 2013.As Ambassador, Adelman was recognized for his effectiveness in promoting trade and investment, both from U.S. companies to the region and Asian companies to the United States. He led eight U.S. trade missions to India, Indonesia, Malaysia, Myanmar (formerly Burma) and Vietnam. He resigned from service as Ambassador to Singapore in 2013 and was named Managing Director by Goldman Sachs based in Hong Kong.
In 2013, Adelman was appointed by the Singapore government to the Monetary Authority of Singapore’s Capital Markets Committee and by the Hong Kong government to the Executive Board of the Treasury Markets Association. Adelman was also a member of the Board of Governors of the American Chamber of Commerce in Hong Kong and is a member of the Council on Foreign Relations
Bruce Schoenfeld, CAIA
Bruce Schoenfeld is an adviser to BlueStar Indexes. He served as BlueStar’s Director of Research from 2013 to 2016. He joined BlueStar from Delaware Investments, where he was a Senior Analyst helping to manage more than $7 billion in emerging markets equity investments. He has 17 years of investment experience, primarily in emerging markets, including 15 years of direct responsibility for equity investments in Israel.
Prior to Delaware, Bruce was a Vice President at ArthaCapital, an emerging markets hedge fund. He previously served as an emerging markets portfolio manager at Caisse de Depot et Placement du Quebec, one of Canada’s largest pension funds and as an analyst on the emerging markets team at Montgomery Asset Management in San Francisco. Bruce began his investment career in 1997 at Canyon Partners, a Los Angeles-based multi-strategy hedge fund.
He also worked as a Political Affairs Officer for the United Nations in New York and Vienna and as a journalist covering the defense industry in Washington, D.C. Bruce has an MBA from Columbia Business School, an MA from the London School of Economics and a BA in History from Clark University. He holds the Chartered Alternative Investment Analyst (CAIA) designation.