Riverbend Capital Advisors

Managing Partner Timothy McGregor, a 30-year municipal-bond veteran and CFA charterholder, oversees investment strategies and portfolio management. He was previously Director of Municipal Fixed Income at Northern Trust and earned Institutional Investor's Municipal Fixed Income Manager of the Year in 2013 and 2014, per the firm's website. Founder Thomas R. Hession, Jr. remains involved as Managing Partner.

The firm's active relative-value strategy relies on a disciplined credit-research process rather than a sourcing network for private placements. Consultant John Hallacy, a 45-year industry veteran with experience at S&P Global Ratings, Merrill Lynch, and Bank of America Securities, anchors the credit-research function. The team combines Hallacy's sell-side and rating-agency lens with McGregor and Hession's institutional buy-side trading relationships.

The firm targets high-quality tax-exempt and taxable municipal bonds, explicitly claiming its portfolios exhibit 'substantially better than market quality & sector exposures.' Its active relative-value strategy captures benefits from municipal market inefficiencies, with a focus on superior credit quality compared to broad municipal benchmarks, as stated on the firm's website.

Managing Partner Timothy McGregor has served multiple advisory terms on the Municipal Securities Rulemaking Board, the self-regulatory organization that writes rules for the US municipal securities market. This direct MSRB governance experience supplements the team's buy-side and sell-side backgrounds, giving Riverbend an unusually direct line of sight into municipal-market regulatory developments.