Ralph Kruger
Managing Director

Ralph is Founder and Managing Director of Arcstone Capital, a Mauritius-based fund manager of the Indian-centric investment vehicle Passage to India Opportunity Fund.  Most recently, from 2003 to 2011, he was Vice President and Portfolio Manager at Marathon Capital Management, a SEC-registered investment management company focusing on small US companies and managing assets in excess of US$250 million. 

From 1999 to 2008, Ralph served as Chairman (2004-2008) and a member (1999-2008) of the Allied Pilots Association (APA) Pension Committee.  The APA Pension Committee is responsible for oversight of the American Airlines pilots’ US$4.7 billion retirement assets.  From 1998 to 2003, Ralph spent four years as an Investment Advisor at Chapin Davis Investments of Baltimore, where he focused on U.S. small cap equities.

While concurrently growing his financial business, until 2007, Ralph was a pilot in the Air National Guard and American Airlines for over twenty-five years.  From 1987 to 2007, Ralph was an active American Airlines pilot flying Boeing 757 and 767 aircraft to destinations in Europe, South America, and the Caribbean. 

Ralph received an MBA from Columbia University in 1991 and a BA in Psychology from State University of New York in 1979.  In 2000, he completed the Pension Fund and Investment Management program at University of Pennsylvania’s Wharton School of Business.  He studied Japanese at the University of Maryland at Okinawa, Japan and took graduate business classes at Golden Gate University in San Francisco, California.  Ralph has passed Level I of the Chartered Financial Analyst (CFA) exam.

Maneesh Nath
Senior Analyst

Maneesh joined Arcstone Capital in 2013. In 2010, He founded Century Capital to provide value investing research for the Indian market. Previously, Maneesh focused on quantitative credit market research as a Senior Credit Analyst at Markit Group in New York, NY from 2008-2010. As a Senior Financial Analyst at Capital One Corporation in Boston, MA, Maneesh provided advanced data analysis.  Maneesh also worked at the Innovation Center of Eaton Corporation, at the R&D department at the Ford Motors Company as a Senior Analyst, and as an Analyst at Tata Motors.

Maneesh received his M.S. at the University of Cincinnati where he was the recipient of a full scholarship and received a GRE Quantitative Score of 800/800. In 2000, he received his B. Tech in Mechanical Engineering at the National Institute of Technology (NIT) in Karnataka, India.

Eric Bayer
Operations Analyst

Eric joined Arcstone Capital in 2016 and is responsible for Arcstone's operations. Eric is studying business administration with a concentration in finance and is the Portfolio Manager for the Towson University Investment Group. He has also passed the CFA Level 1 examination in June 2016.