Team

Accomplished, Collaborative Leaders
and Operations Experts

Our three principals are among the most experienced convertible bond investors.

As a firm, we are driven by spirited debate and a common mission of generating consistent uncorrelated returns.

Charles E. Carnegie, CIO and Co-Portfolio Manager

Charles E. Carnegie, CFA
CIO and Portfolio Manager

Mr. Carnegie, the Chief Investment Officer and Portfolio Manager of Context Partners Master Fund, LP, serves on the Investment and Risk Committee. Mr. Carnegie re-joined Context in 2015 as Portfolio Manager. He started his career with Context in 2005 and was with the firm until 2008 as a senior analyst and trader. Previously, he helped manage multi-billion-dollar credit and capital structure portfolios at Graham Capital Management and Hutchin Hill Management. Before that, Mr. Carnegie was a Managing Director of Credit Research at Knight Capital Group. He holds B.A. degrees in Economics and Philosophy from the University of Southern California.

William D. Fertig, Co-Founder and Co-Portfolio Manager

William D. Fertig
Co-Founder and Chairman

Mr. Fertig, the Co-Founder and Chairman of Context Partners Master Fund, LP, serves on the Investment and Risk Committee. He began his career as a proprietary trader for E.F. Hutton and Credit Suisse for nine years. He then headed convertible sales at Credit Suisse and Drexel Burnham Lambert. In 1990, Mr. Fertig led McMahan Securities’ entry into the brokerage business, focused exclusively on convertible and derivative securities. Under his direction, McMahan Securities grew to be one of the nation’s largest independent convertible bond dealers. Mr. Fertig has been involved in more than 100 corporate underwritings and debt restructurings. He earned a B.S. with high honors in Economics from Allegheny College and was elected to Phi Beta Kappa. He received his MBA with a concentration in Finance from New York University.

Michael S. Rosen, CFA
Co-Founder and CEO

Mr. Rosen, the Co-Founder and Chief Executive Officer of Context, serves on the firm’s Investment and Risk Committee. He is responsible for the firm’s overall operations and structure and assists in the research and analysis of core positions. Mr. Rosen was the co-principal owner of Rochester Capital Advisors, LP and FMC, Inc., a $3 billion (at time of sale) mutual fund company specializing in the management of convertible securities and high-yield municipal bonds. At the time of the sale, the convertible securities fund managed by Mr. Rosen had the best five-year performance as ranked by Refinitiv Lipper Research. He earned a B.A. in Economics and an MBA in Finance and Marketing from the University of Rochester in 1981 and 1983, respectively.