MONARCH INVESTMENT FUNDS

Steven Paull, Partner and CFO
Monarch Corporate Center, San Diego, CA
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Steven J. Paull, Partner and Chief Financial Officer
Steven Paull joined Monarch in 2003 and has been affiliated with Monarch Senior Partners Pat Kruer and Tim Kruer for over twenty years in a variety of capacities. As Monarch’s Chief Financial Officer, Steven oversees all of Monarch’s financial and asset management operations and is also responsible for identifying acquisition opportunities.
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Steven J. Paull, Partner and Chief Financial Officer
Steven Paull joined Monarch in 2003 and has been affiliated with Monarch Senior Partners Pat Kruer and Tim Kruer for over twenty years in a variety of capacities. As Monarch’s Chief Financial Officer, Steven oversees all of Monarch’s financial and asset management operations and is also responsible for identifying acquisition opportunities. In addition to his position at Monarch, Steven is a State Appointed California Probate Referee to the Superior Court in San Diego County. Steven is a summa cum laude graduate of the University of Connecticut, where he received a Bachelor of Science degree in Business Administration with an emphasis in Accounting. Steven received his MBA from the University of California, Berkeley with an emphasis in Real Estate and Urban Economics. Steven has also been a certified public accountant for over twenty-five years and is a member of both the American Institute and the California Society of Certified Public Accountants.
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Jerald A. Alford, Principal, General Counsel
Jerry Alford has over thirty-five years of experience in the real estate industry as a lawyer and developer. Jerry has been affiliated with Monarch Senior Partners Pat Kruer and Tim Kruer for over twenty years, principally as their in-house attorney for real estate and construction related matters. Jerry has also overseen due diligence for the acquisition, financing, and sale of numerous projects.
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Jerald A. Alford, Principal, General Counsel
Jerry Alford has over thirty-five years of experience in the real estate industry as a lawyer and developer. Jerry has been affiliated with Monarch Senior Partners Pat Kruer and Tim Kruer for over twenty years, principally as their in-house attorney for real estate and construction related matters. Jerry has also overseen due diligence for the acquisition, financing, and sale of numerous projects. In addition, he has performed project management for obtaining governmental entitlements and acted as owner’s representative for a number of multifamily, senior housing, and commercial projects. A member of the State Bar of California since 1970, Jerry received his Bachelor of Science degree in Marketing from San Diego State University and his Juris Doctor from the University of San Diego.
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Masis A. Kevorkian, Principal, Investor Relations
Masis Kevorkian joined Monarch in 2006 and is responsible for marketing Monarch’s real estate investment funds to institutions including endowments, foundations, and pension funds as well as accredited high-net-worth investors. In addition, Masis is involved in identifying acquisition opportunities. Before joining Monarch, Masis was a Senior Vice President with Neuberger Berman, LLC, where he focused his time building new client relationships and advising high-net-worth families.
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Masis A. Kevorkian, Principal, Investor Relations
Masis Kevorkian joined Monarch in 2006 and is responsible for marketing Monarch’s real estate investment funds to institutions including endowments, foundations, and pension funds as well as accredited high-net-worth investors. In addition, Masis is involved in identifying acquisition opportunities. Before joining Monarch, Masis was a Senior Vice President with Neuberger Berman, LLC, where he focused his time building new client relationships and advising high-net-worth families. Prior to Neuberger Berman, Masis was a Vice President in the Private Wealth Management division of Deutsche Bank. Masis received his Bachelor of Science in Business Administration with an emphasis in Finance from the University of Arizona. Masis is a member of the Urban Land Institute (ULI) and the Pension Real Estate Association (PREA).
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Sarah Kruer Jager, Principal, Investment & Development
Sarah Kruer Jager joined Monarch in 2005 and is responsible for the identification, evaluation, and management of investments as well as various investor relations activities. Sarah is also a founding member of the Monarch Investment Funds real estate private equity funds family. Prior to Monarch, Sarah worked at UBS Investment Bank in Chicago as an analyst in the Mergers & Acquisitions and Diversified Industrials Groups. In this capacity, Sarah executed financing and advisory assignments across a range of industries, including the diversified industrials, engineering and construction services, consumer / retail, and business services sectors.
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Sarah Kruer Jager, Principal, Investment & Development
Sarah Kruer Jager joined Monarch in 2005 and is responsible for the identification, evaluation, and management of investments as well as various investor relations activities. Sarah is also a founding member of the Monarch Investment Funds real estate private equity funds family. Prior to Monarch, Sarah worked at UBS Investment Bank in Chicago as an analyst in the Mergers & Acquisitions and Diversified Industrials Groups. In this capacity, Sarah executed financing and advisory assignments across a range of industries, including the diversified industrials, engineering and construction services, consumer / retail, and business services sectors.

Sarah attended University of Michigan, where she was awarded a four-year full tuition athletic scholarship as a member of the Division I Varsity Women’s Golf Team. Sarah’s academic and athletic honors include being named by the National Golf Coaches Association to the Division I All-American Scholar Golf Team and receiving Academic All-Big Ten Conference Honors. Sarah graduated from the University of Michigan Stephen M. Ross School of Business with a Bachelor of Business Administration degree with High Distinction.

Sarah is currently involved in the following civic, charitable, and industry organizations: Founding Advisory Board and Membership Committee Member, Run Women Run; Committee Member, San Diego Regional Chamber of Commerce Land Use & Transportation Committee; Steering Committee Member, Herbert G. Klein Leadership Roundtable; Board Member & Treasurer, Move San Diego; Member, Urban Land Institute (ULI) and ULI Young Leaders; Member, Pension Real Estate Association (PREA). In addition, Sarah was appointed by California State Assembly Speaker Karen Bass in 2009 to serve as a member of the California Task Force on Youth and Workplace Wellness.
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Brandon P. Bergener, Director of Financial Reporting & Portfolio Accounting
Brandon Bergener joined Monarch in 2006 and is primarily responsible for all fund-level financial reporting. Prior to Monarch, Brandon was a Manager with Ernst & Young LLP, where he specialized in financial statement audits and accounting consultations for clients in the real estate industry.
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Brandon P. Bergener, Director of Financial Reporting & Portfolio Accounting
Brandon Bergener joined Monarch in 2006 and is primarily responsible for all fund-level financial reporting. Prior to Monarch, Brandon was a Manager with Ernst & Young LLP, where he specialized in financial statement audits and accounting consultations for clients in the real estate industry. Brandon is a summa cum laude graduate of Cal Poly, San Luis Obispo, where he received a Bachelor of Science in Business Administration with an emphasis in Accounting. Brandon has been a certified public accountant for six years and is a member of the American Institute of Certified Public Accountants.
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