Investment Team

Cliff Quisenberry, Jr., CFA

Cliff Quisenberry is the firm’s CEO, CIO, and Portfolio Manager of the Firm's investment strategies.  Prior to founding Caravan, Mr. Quisenberry served as the Director of Research and Product Development at Parametric Portfolio Associates where he was the chief strategist of emerging markets from 1995 until his departure in April 2007. Mr. Quisenberry introduced frontier markets into Parametric’s emerging market strategy in 1997, one of the earliest investments by a US mutual fund in those markets.   Prior to his 13 years at Parametric Portfolio Associates, Mr. Quisenberry was a portfolio manager at Cutler & Company from 1990 to 1994.  From 1987 to 1988, Mr. Quisenberry was employed as a research associate at Fred Alger Management. Mr. Quisenberry has published several articles and has spoken globally about and been quoted on frontier emerging markets. Mr. Quisenberry graduated magna cum laude from Yale with a BA degree in Economics with Distinction in 1987. He has been a CFA Charterholder since 1990 and is fluent in German.

Ben Griffith, CFA

Ben Griffith is a Portfolio Manager and Analyst. Mr. Griffith's primary focus is on company fundamental analysis, and he assists with strategy, country level analysis, and trading. Mr. Griffith co-founded Caravan with Mr. Quisenberry in 2008, helping to develop the firm’s research systems. After four-and-a-half years with Caravan, he joined Victoria 1522 Investments, a GEM manager based in San Francisco, where he worked with the CIO to develop an allocation of frontier investments in the firm’s EM strategy. Mr. Griffith returned to Caravan in mid-2014. He previously worked for Bloomberg LP from 2006-2008 covering Latin American fundamental equity data. Mr. Griffith graduated cum laude from Connecticut College with a BA in Economics and Latin American Studies in 2006.  He has been a CFA Charterholder since 2010 and is fluent in Spanish.

Ed Kim, CFA

Ed Kim is a Senior Analyst, contributing country and company research for all of the firm’s investment strategies, focusing on fundamental analysis of companies in the frontier and emerging Asian markets. Prior to joining Caravan in 2015, Mr. Kim was an Asia ex-Japan Analyst at Victoria 1522 Investments for six years.  Mr. Kim also worked at Pacific View Asset Management as a Senior Analyst on the international small cap strategy.  From 2003-2008, Mr. Kim worked in sell-side equity research in both Asia and the US at Bank of America, Deutsche Bank, and Korea-based Daewoo Securities, specializing in small to mid-cap IT companies. Previously, Mr. Kim held sales and business development roles in the semiconductor and IT hardware companies in Silicon Valley where he managed Asia-based customer and partner relationships.

Mr. Kim received a BA in Quantitative Economics from Stanford University in 1994 and an MBA with concentration in Finance from the University of Chicago Booth School of Business in 2001. He has been a CFA Charterholder since 2012 and is fluent in Korean.

Administration & Operations

Gaizka Ibáñez de Opakua

Gaizka Ibáñez de Opakua serves as the firm’s President and Chief Operating Officer. Mr. Ibáñez de Opakua  is responsible for the business management of the firm. Previously, Mr. Ibáñez de Opakua was President, Chief Operating Officer, and one of the founding partners of Victoria 1522 Investments where he was responsible for all the aspects of the business. He also conducted investment research for emerging and frontier EMEA, and Latin America. Prior to joining Victoria 1522 Investments, Mr. Ibáñez de Opakua worked for Barclays Bank as Manager of European Business Strategy from 2003 to 2006. From 2000 to 2003, Mr. Ibáñez de Opakua was a portfolio accountant and performance analyst at Montgomery Asset Management. Mr. Ibáñez de Opakua earned an International Master of Business Administration degree from ESEUNE (Bilbao, Spain) with a concentration in International Trade and Commerce (University of California, Berkeley and UCLA). He received an undergraduate degree in Business Administration from the University of the Basque Country (Bilbao, Spain) in 1996, and he is fluent in Spanish.


Caravan Capital Management LLC is an investment advisor registered with the United States Securities and Exchange Commission.  Caravan Capital Management LLC cannot transact business in a state unless appropriately registered or excluded from such registration.  Registration as an investment advisor does not imply a certain level of skill or training. 

Any material or information contained herein is not an offer to sell or to purchase securities, nor a solicitation of an offer to sell or to purchase securities.  No offer or solicitation of a security or investment product will be made without the delivery of an offering memorandum, subscription agreement, and other required documents.  Before making an investment decision, potential investors are advised to carefully read the offering memorandum, the limited partnership agreement, the subscription documents and all other related documents and to consult with their legal, financial, and tax advisors.  

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