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Income is scarce today. We believe it is time for income done differently. Learn more.
Variant, investments, income, income opportunities, private credit markets, uncorrelated alternative beta products, specialized segments, CTC | myCFO, Bob Elsasser, Curt Fintel, J.B. Hayes
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The financial world is changing rapidly. Banks are in regulatory retreat. Technology is rewriting the rules about how capital is allocated and managed. New alternative return streams are becoming financialized and democratized. The door is opening to private investments.

Variant helps investors adapt to a changing world.



less traveled

We explore the remote, less crowded corners of the investment universe. We seek income from private markets, uncorrelated alternatives and niche public markets.

Investing where others cannot or will not go can have its rewards.




Attractive assets often derive their value simply by being out of reach from most investors. However, opportunities that are difficult to access can also be difficult to manage. Investing in unconventional assets requires expertise, diligence and surveillance. Importantly, no single opportunity is the solution.

We feel strength can be achieved through diversification and thoughtful portfolio construction.


Complex assets

Singular purpose

Investment strategies can be so layered with complexity, it is easy to lose sight of the most basic questions. Why own it? What role does it play? How does it meet your needs? At Variant, our mission is clear. All of our investment efforts contribute to a single, simple purpose.

Our goal is to make income the outcome.

The Variant


Variant is not just another asset manager. We’ve spent our careers thinking differently. We’ve walked in the shoes of investors and their advisors. We understand the challenges of making investments meet investor needs.

Our goal is to deliver an innovative and dependable solution that works for our clients.


Variant was formed in 2017 by three Directors of Research from CTC | myCFO, a firm which pioneered investing in alternatives on behalf of its ultra-high net worth client base.

Check the background of this firm on FINRA’s BrokerCheck.

Bob Elasser

Principal and Co-founder

Bob Elsasser is a principal and co-founder of Variant with over 31 years of experience in the industry. Prior to founding Variant, Bob was the Director of Fixed Income Research at CTC | myCFO. Before joining the organization in 2006, Bob was the Senior Vice President of Fixed Income and Foreign Exchange at the Federal Reserve Bank of New York. Bob received his BA in Finance from the University of Washington and his MBA in Finance from New York University.

Curt Fintel

Principal and Co-founder

Curt Fintel is a principal and co-founder of Variant with over 25 years of experience in the industry. Prior to founding Variant, Curt was the Chief Investment Strategist at CTC | myCFO. Before joining the organization in 1996 , Curt worked as a computer consultant for Iowa State University’s College of Business. Curt is a member of the CFA Society of Portland, and has been a CFA charterholder since 1999. He received a BS and MS in Economics from Iowa State University and constructed his graduate thesis on the empirical analysis of alternative option valuations.

JB Hayes

Principal and Co-founder

J.B. Hayes is a principal and co-founder of Variant with over 21 years of experience in the industry. Prior to founding Variant, J.B. was the Director of Private Markets at CTC | myCFO. Before joining the organization in 2001, J.B. was with the Private Client Group at Merrill Lynch. J.B. is a member of the CFA Society of Portland, and has been a CFA charterholder since 2004. He received a BS in Business with a focus on finance from the University of Oregon.


Senior Vice President, Investments

Brad Alvarez joins Variant with experience underwriting commercial loans. Prior to Variant, Brad worked for JP Morgan in the Investment Bank as a credit analyst for the natural resources team, and then later as a credit associate for the power and utilities team. He received his BS in Finance and Accounting from Oregon State University in 2014.

Karina_Convers - Profile

Senior Vice President, Investments

Karina Convers joins Variant with over 10 years of experience in the industry. Prior to Variant, Karina focused on distressed debt investments at Armory Capital, initially as an associate on the investment banking team, and later as a senior credit analyst in the distressed credit fund. Before Armory, Karina worked in the financial services industry with US Bank, Citigroup, and Capital One. Karina received her BS in Finance from the University of Florida and her MBA from the University of Chicago.


Senior Vice President, Investments

Kevin Kraeger joins Variant with over 9 years of investment experience. Prior to Variant, Kevin focused on opportunistic credit and specialty finance at Vida Capital.  Prior to Vida, Kevin had worked on the portfolio management team at liquid alts firm PAAMCO-Prisma, and as a consultant at Booz Allen and Greenwich Strategy. Kevin started his career as a submarine officer in the US Navy.  Kevin received his BA from the University of Pennsylvania and his MA and MBA from Columbia University.

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Vice President, Investments

Jordan Jenkins joins Variant with a variety of experience in the financial services industry, with time spent under brokerage firms and investment management groups. Jordan received his BA in Economics from Willamette University and his MBA in Finance and Investments from the Atkinson Graduate School of Management.


Associate, Investments

Eddie Deschapelles joins Variant with experience across a variety of areas in the financial services industry. Prior to Variant, Eddie worked on ESG data analysis and research at Ethos. He also interned at UBS Wealth Management and Aspect Capital, a quantitative hedge fund. Eddie received his BA in Mathematics from Georgetown University in 2020.


Director, Investor Relations

Ryan Warren leads investor relations, marketing and business developments for Variant and has over 13 years of investment industry experience.  Prior to Variant, Ryan was most recently an Investment Consultant at NEPC, LLC. This role followed spending nearly ten years at CTC | myCFO in a similar capacity.  Ryan earned his BS in Business from the University of Oregon.  He has been a CFA charterholder since 2011 and a CFP professional since 2013.

Check the background of this investment professional on FINRA’s BrokerCheck.

Lisa Head Shot website

Director, Operations

Lisa Zhu manages operations at Variant. Prior to Variant, Lisa was an experienced Assurance Senior at Delap CPA. During her 5 years at Delap, Lisa worked primarily on assurance projects in the financial institutions and healthcare industries. She received her BS in Accounting from the University of Oregon with a minor in economics.

Check the background of this investment professional on FINRA’s BrokerCheck.

Joey Kok

Associate, Operations

Joey Kok supports operations at Variant and has a variety of experience in the financial industry. Prior to Variant, Joey was most recently an operation officer at Bell Potter, an Australian brokerage firm.  Before this role, she was a project financial controller at HuaWei Technologies and fund accounting specialist at JP Morgan Chase. Joey earned her BS in Finance and MS in Finance from CUNY Baruch College in 2015 and 2020.