News Release: McDaniel College Honors Richard Klitzberg with Trustee Alumni Award

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April 26, 2017

April 26, 2017

Contact: Cheryl Knauer



Klitzberg is head of specialty investment firm Klitzberg Associates and Klitzberg Fund Solutions with offices in Boca Raton, Fla., and Princeton, N.J.

He is a 1963 alumnus of the college with a bachelor’s degree in political science 

WESTMINSTER, Md. – Richard Klitzberg is the recipient of the Trustee Alumni Award from his alma mater, McDaniel College. A 1963 alumnus, he earned a bachelor’s degree in political science. He was also a member of the college’s ROTC program. 

The Trustee Alumni Award is the highest alumni honor given at McDaniel in recognition of alumni career and service achievement.

Klitzberg has spent more than 45 years advising institutional investors and high net worth families in all matters relating to the professional management of their assets. In 1980, he became founder and president of First Investors Asset Management Co., the first firm to manage high yield bond separate accounts for major institutions. 

He formed Klitzberg Associates, Inc., in 1982 to consult to, and market for, specialty investment managers. The firm, which maintains offices in Boca Raton, Fla., and Princeton, N.J., has been instrumental in raising more than $8 billion in assets for leveraged buyout firms, venture capital, private equity, real estate and hedge funds. 

In addition, Klitzberg overseas the investment funds for a small number of clients and is the general partner of two private investment partnerships. Klitzberg Fund Solutions was established in 2003 to refer boutique managers to fund sponsors looking for new products or solutions to address underperforming funds. 

Co-captain of the Green Terror basketball team, he led the team to its first Middle Atlantic tournament appearance in 1962 and was inducted into McDaniel’s Sports Hall of Fame in 1994. 

He earned a J.D. degree in 1966 from the University of Baltimore, School of Law, and worked as athletic director for the Baltimore City Bureau of Recreation while completing his studies. In 1997, he was a member of the U.S. Master Maccabiah Games in Israel. He has played in U.S. Hardcourt and Grasscourt National Championships.

In 2007, he supported construction of the Klitzberg Pavilion in McDaniel’s Gill Center. He is also a frequent guest speaker on campus. 

Klitzberg is recognized in “Who’s Who in American Finance and Industry” (1977), “Who’s Who in the East” (1990) and “Who’s Who in America.” He serves on the board of the American Professionals and Friends and serves as board president of the Sea Ranch Club. He is a former board member of the Florida Society for Middle East Studies.

He currently resides Boca Raton, Fla., with his wife, Judy, who is also a 1963 graduate of McDaniel. 

For more information about McDaniel College, visit   

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Editor’s Note: Headshot of Richard Klitzberg is available for download (under 2017 People).

McDaniel College, founded in 1867 and nationally recognized as one of 40 “Colleges That Change Lives,” is a four-year, independent college of the liberal arts and sciences offering more than 70 undergraduate programs of study, including dual and student-designed majors, plus 25 highly regarded graduate programs. Its personalized, interdisciplinary, global curriculum and student-faculty collaboration develop the unique potential in every student. A diverse, student-centered community of 1,600 undergraduates and 1,400 graduate students, McDaniel offers access to the resources of Baltimore and Washington, D.C., and is the only American college with a European campus in Budapest, Hungary.