Richard King IV
Principal of Teton Equity Management
Richard is a principal of Teton Equity Management, LLC and Teton Equity Advisors LLC, responsible for business development.
He earned his B.B.A. from the University of Texas at Austin in 1983 and acquired his state and federal security licenses trading securities with Eppler, Guerin & Turner in 1983.
A natural entrepreneur, for the next 35-years Richard drilled and operated oil fields in Texas and Kentucky, distributed television programs to Europe and Japan, and founded VideoCall videoconference company implementing interactive video networks for large businesses. He launched King Airways, a private aircraft charter company specializing in King Airs, and founded R. King & Co. to manage and develop oil & gas minerals for family offices.
Richard currently serves as Trustee for the Texas State History Museum Foundation, chairing its finance committee. He has served on boards of The Mind Science Foundation, the McDonald Observatory of the Astronomy Department at the University of Texas at Austin, the Texas Nature Conservancy of Austin, and the Texas Distance Learning Association.
Richard is married to contemporary artist, Tamara Ashburn King, and lives in Jackson Hole, Wyoming.
Jay Howard
Principal of Teton Equity Management
Jay is a principal of Teton Equity Management, LLC and Teton Equity Advisors, LLC, serving as General Counsel for both entities.
He earned his Accounting Degree at the University of Kansas in 1979 and his Law Degree from the University of Texas at Austin in 1982. He is a Certified Financial Planner™ and member of the State Bar of Texas.
In 1990, he co-founded First Capital Partners, Inc., a real estate investment firm that acquired and managed commercial properties and distressed mortgage debt. Serving as President and General Counsel, the firm successfully acquired and sold over 40 commercial properties.
Since 2000, Jay has run a family office investing in real estate, energy, and private companies. In 2009, he founded JDH Asset Management, LLC, a registered investment advisor.
Jay serves on the Investment Committee of the Kansas University Endowment Association, overseeing a $1.5 billion endowment for a public university. He served on the board of directors for the Kansas University Alumni Association from 2003 – 2012, and as Chairman of the Board in 2010-2011. Jay served as President of the Austin Boys & Girls Club Foundation from 2000-2005.
Jay is married with one child and lives in Austin, Texas.
Frank C. Forelle
Principal of Teton Equity Advisors
Frank is a principal of Teton Equity Advisors, LLC, focusing on investor development.
Frank has been a business accelerator for over 30-years, serving in senior management at global firms in commercial real estate banking, investment management, asset management, mortgage finance, and private equity ventures.
Frank earned his Juris Doctor from Syracuse University, College of Law (1985) where he was the Editor-in-Chief of the Syracuse Journal of International Law and Commerce. He holds a Bachelor of Science from Syracuse University and a degree from the New York University Real Estate Institute. He’s a guest lecturer at the Yale School of Management and guest speaker for the Royal Institution of Chartered Surveyors.
Frank was the President of ZRG Investment Corporation, an owner-operator of class A office properties. And was Head of Commercial Real Estate for the Asia Pacific Region of Deutsche Bank, serving as Managing Director. Based in Tokyo, he built and oversaw 6-regional offices and ran a diversified portfolio of investments focusing in commercial real estate and mortgages. Prior to joining Deutsche Bank, he was Head of Commercial MBS for ABN AMRO, Americas, where he founded their CMBS business. Frank was also Head of CMBS Trading and Sales at Citicorp Securities and responsible for investments and capital markets at Bankers Trust Company and Metropolitan Life Insurance Company, New York.
He invests in private equity and real estate funds and enjoys outdoor wilderness activities and motorsports. He currently serves on boards of the Porsche Club of America, Yellowstone Region, and The Doug Coombs Foundation.
Frank has three children and lives in Jackson Hole, Wyoming.
Michael Underhill
Principal of Teton Wellness GP
Michael is a principal of Teton Wellness, GP, LLC, and a consultant with Teton Equity Management, LLC, responsible for investment fund management and capital development.
He is founder and Chief Investment Officer at Capital Innovations, a leading global investment manager for institutions and individuals. He is Chairman Emeritus of the United Nations Principles for Responsible Investment Initiative and one of the world’s most respected financial analysts. Michael’s investment strategies in real estate, natural resources, and infrastructure asset classes are used by fund managers worldwide.
Michael has published widely on international economics and finance topics and is the author of The Handbook of Infrastructure Investing. He’s been published by top academic and trade journals, quoted in The Wall Street Journal, New York Times, and Financial Times, and a regular contributor to Bloomberg Television.
Prior to founding Capital Innovations in 2007, Michael was a portfolio manager at AllianceBernstein managing over $42 billion in global assets for large institutional clients. Before that he was a partner at INVESCO, responsible for managing an $8 billion global institutional fund. Before that he managed a $1.8 billion fixed income portfolio at Janus and started his career at Lehman Brothers in 1992.
Michael graduated from Pennsylvania State University with a Bachelor of Science in Quantitative Economics. He completed post-graduate coursework at Pepperdine University and Stanford Law School. He is a former NCAA athlete and USA super league rugby player and founder of the Underhill Cancer Research Foundation. Michael is married with two children and lives in Pewaukee, Wisconsin.