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Investment Professionals


James S. Riley

  • Managing Director of Sierra Asset Management, LLC, which manages the Sierra funds, and Sierra Liquidity Fund, The Sierra Funds have purchased units from over 200 different limited partnerships with net asset values exceeding $75,000,000. Odd Lot Liquidity Fund and Sierra Liquidity Fund has purchased trade claims in most major bankruptcies since inception. Sierra Asset Management performs proprietary analysis in bankruptcy cases as well as many stressed and high yield credits. As well as analysis and pricing, Mr. Riley, along with Mr. August, oversees accounting, transfer, registration, and mailing staff that handles all back office services.

    Mr. Riley was a member of the Official Committee of Unsecured Creditors for Adelphia Communications Corporation, the fifth largest cable company in the U.S. with approximately $20 billion of liabilities. He was also a member of the Ad Hoc MCI Trade Claims Committee, a group which was successful in achieving a significantly higher recovery than proposed in the initial plan.

    Since 1982, Mr. Riley has been president of Riley Bower, Inc, a company that developed from 1982 to 1995 over $200,000,000 of apartments, homes and land entitlements.

    Mr. Riley was educated at Thacher School, UC Berkeley, Humboldt State University (BS Physics), and did graduate work in Physics at UC Santa Barbara. Mr. Riley is currently is a member of the Board of Directors of the Long Beach Opera and an advisor to the Bikestation Coalition, a not-for-profit organization providing bike stations and bike rentals at public transit hubs. He is also co-founder of the West Coast Friends of the Greater Yellowstone Coalition.

  • E. Frank Bower

    • Managing Director of RBI Properties, Mr. Bower co-founded Riley Bower, Inc. and co- managed the development and acquisition of over $200,000,000 of apartments, homes, industrial properties, and land entitlements. In this capacity, he was responsible for site selection, product design, and management, as well as co-managing construction and disposition.

      As Managing Director of RBI Properties, Mr. Bower has assembled a portfolio of industrial and multi-family properties in Southern California and Arizona. Mr. Bower is responsible for all purchase analysis, proformas, budgeting, maintenance and property selection. In addition, he oversees a management team that manages real estate assets in the San Francisco Bay Area, Southern California and Phoenix, Arizona. The majority of this portfolio is owned by Riley Bower, Inc. and its principals.

      Mr. Bower obtained his BS degrees from the University of Kansas, and is a licensed architect in the state of California.

    • R. Vincent Bower

      • Managing Director of Sierra Properties, Mr. Bower's primary responsibilities are financial analysis and preparation of proformas for all property acquisitions, as well as budgeting and accounting supervision for the Sierra Properties portfolio. Mr. Bower has over 25 years of high level financial and accounting responsibility in a wide variety of industries. Prior to joining Sierra Properties, Mr. Bower was Manager of Property Accounting for multiple ConAgra companies, controlling and maintaining corporate fixed asset records totaling $500mm at 12 major manufacturing sites in the U.S. and Canada. As such, he was a key member of the team that incorporated the Oracle fix asset program in this company.

        Mr. Bower received BA and BS from Kansas University and an MBA from the University of Missouri at Kansas City. He is also a Certified Cash Manager, Certified Credit Manager, a Certified Management Accountant and a graduate of the IPT School of Property Taxation.

Scott D. August, CFA

  • Since 2004 Mr. August has served as Managing Director and Portfolio Manager of Sierra Liquidity Fund, LLC. Mr. August employs public records, SEC filings, and bankruptcy filings to prepare proprietary analysis utilized for security selection. Mr. August also assists in the asset allocation and portfolio construction for the fund. In addition Mr. August, along with Mr. Riley, uses his substantial contacts within the investment community to obtain street viewpoint and color on various securities, for further insight, and to identify additional investment opportunities.

    Prior to joining Sierra Funds, Mr. August was employed by Trust Company of the West working in analysis, as well as marketing investment portfolios to High Net Worth and Institutional clients. His work included analysis and interaction with portfolio managers regarding: Portfolio Construction, Fundamental Analysis, Financial Statement Analysis, Micro/Macro Economics, Competitive Industry Analysis (Porter Analysis), and Valuation Methodologies (DCF, Peer Group Comparables, EBITDA multiples).

    Prior to joining Trust Company of the West, Mr. August was an Investment Analyst with Prudential Securities where he managed Institutional and Private Client portfolios. Mr. August was responsible for developing asset allocation models, investment portfolios, and financial planning strategies while working at Prudential Securities.

    Mr. August was educated at the University of Michigan in Ann Arbor, where he received a Bachelor of Arts in Political Science with an emphasis in Economics. Mr. August is a Chartered Financial Analyst and a member of the CFA Institute and the Los Angeles Society of Financial Analysts.

  • Danea Threadgill

    • Controller for the Sierra Funds and affiliates, Ms. Threadgill obtained her B.A. in Business Administration from California State University, San Diego. Included in her duties are preparation of all financial statements, financial forecasting, budgeting, and reporting to various governmental and regulatory agencies. Ms. Threadgill's duties at Sierra Funds include the review of all the financial reporting from the Administrator and providing all documentation and working papers required by Sierra's tax preparers.

    • Tammy Garza

      • Ms. Garza has worked for Riley Bower, Inc., and Sierra Liquidity Fund, LLC for the last 17 years. In serving as the claims Transfer Agent for Sierra Liquidity Fund, Ms. Garza's main duties are communicating with creditors, filing and transferring bankruptcy claims, corresponding with claims agents and court officials, as well as preparing and sending out creditor correspondence. Prior to working with Sierra Liquidity Fund, Ms. Garza was the Junior Editor of a Financial Publication circulated to Financial Advisors. 

    • Pia Gullifer

      • Claims Transfer Specialist for Sierra Liquidity Fund, LLC. Ms. Gullifer has worked for Sierra Liquidity Fund since 2001. Ms. Gullifer's main duties are communicating with creditors and answering questions regarding the bankruptcy claim transfer process. Ms. Gullifer also assists creditors to prepare all necessary supporting claim documentation required to initiate claim transfers. Prior to joining Sierra Liquidity Fund, Ms. Gullifer worked in the banking industry for 20 years.