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the experience to know,
the discipline to persevere,
and the passion to care

Leadership Team


Theodore H. Wagenknecht, CFA
Co-founder, Portfolio Manager


Mr. Wagenknecht co-founded AFR in 2013 and acts as Portfolio Manager. Mr. Wagenknecht has more than 15 years of experience investing in debt and equity securities in the public and private markets.

Prior to AFR, Mr. Wagenknecht was a Principal and Portfolio Manager at DDJ Capital Management, LLC. He most recently served as the Portfolio Manager of DDJ's Value Opportunities Strategy. During his tenure at DDJ, Mr. Wagenknecht held a number of senior positions at the firm, including as a Managing Director, the firm’s Director of Research, and as a Senior Analyst, where he was responsible for sourcing, analyzing and executing debt and equity investments across a broad range of industry coverage responsibilities.

Mr. Wagenknecht has led numerous public and private financings and corporate restructurings of companies across a broad spectrum of industries. Prior to joining DDJ, Mr. Wagenknecht was an Associate at Summit Partners, where he was responsible for sourcing, analyzing, and executing leveraged buyouts of middle-market companies. Prior to Summit, Mr. Wagenknecht was an Analyst in the Financial Sponsors Group at UBS Warburg, LLC, where he analyzed and executed equity, bank debt, high yield, and mezzanine debt financings for the firms’ financial sponsor clients.

Mr. Wagenknecht serves on the Mark Buttitta Memorial Scholarship Fund Selection Committee, and established the Mark Buttitta Faculty Travel Scholarship at the Kent School in Kent, CT. Mr. Wagenknecht received his MBA with Honors from Columbia University and his BA from Boston College. Mr. Wagenknecht is a CFA charterholder, and lives in Cambridge, MA with his wife and son.

Kevin F. Curran
Co-founder and Senior Research Analyst


Mr. Curran serves as Research Analyst for AFR, which he co-founded with Mr. Wagenknecht in 2013. Mr. Curran has more than 5 years of experience investing in debt and equity securities in the public and private markets.

Prior to AFR, Mr. Curran was a Research Analyst at DDJ Capital Management, LLC, where his responsibilities included supporting the investment-related activities of the Value Opportunities Strategy, and supporting research coverage of the firm’s investment activities in the automotive industry.

Mr. Curran attended Babson College where he graduated cum laude with his BS in Business Management.

David Carson
Director of Business Development


Mr. Carson joined AFR in 2015 and serves as the Director of Business Development.

Prior to AFR, Mr. Carson was a Financial Analyst at Ropes and Gray, LLP, where he had a broad range of responsibilities. He helped to establish a wholly owned RIA subsidiary (Ropes Wealth Advisors), working with the CIO to assemble operating budgets, revenue forecasts and developing inter-entity allocations and service agreements. Additionally he was responsible for performing financial analysis and reporting analyses for the CFO and firm leadership committees, preparing yearly operating budgets and other financial planning initiatives for the trust and estate practices, creating profitability models for alternative pricing structures used by partners in client negotiations and producing accounting information for individual partner practices and practice groups.

Prior to his time at Ropes and Gray, Mr. Carson worked on the Mitt Romney presidential campaign, where he worked with the General Counsel and Operations teams to design and execute “get out the vote” strategies, constructed training modules for poll watchers and assisted with preparations for recount contingencies.

Mr. Carson attended Union College where he graduated with a double major in economics and political science. In addition to his studies, he was a member of both the varsity football and baseball teams. He currently is a member of the Terrace Council, which supports the efforts of the college’s Annual Fund.