Our People

Benjamin Bielawski provides research for the firm’s listed infrastructure strategies and is a portfolio manager for the Duff & Phelps Global Clean Energy Strategy. His research focuses on global utilities and communications sectors, especially on companies and technologies expected to power the energy needs of the future. Mr. Bielawski joined the firm in 2017 and began his career in the investment industry in 1995.

Prior to joining Duff & Phelps, Mr. Bielawski served as a senior global equity analyst at Institutional Capital LLC (ICAP), covering global utilities, telecommunications, and infrastructure sectors and as the co-manager for global high dividend yield portfolios. In addition, he worked in institutional services at Harris Associates.

He holds an M.B.A. from the University of Chicago Booth School of Business and a B.S. in business administration from Wayne State University. In addition, he is a CFA charterholder.

Rodney Clayton provides research for the firm’s listed infrastructure strategies and is a portfolio manager for the Virtus Duff & Phelps Select MLP and Energy Fund. His research focuses on conventional and clean energy infrastructure companies. Mr. Clayton joined the firm in 2016 and began his career in the investment industry in 2004.

Prior to joining Duff & Phelps, Mr. Clayton served as a senior manager due diligence analyst at UBS Financial Services, covering MLP, large cap value, and equity income strategies. In addition, he served as an equity research analyst at JP Morgan Securities, covering the exploration and production, engineering and construction, and environmental services industries.

He completed his undergraduate studies and holds an M.B.A. from Florida A&M University. In addition, he is a CFA charterholder.

Stephen Dye provides research to the Duff & Phelps Global Real Estate Securities Team with a primary focus on the U.S., Canada, and Europe. He joined Duff & Phelps in 2021 and began his investment career in 2010.

Previously, Mr. Dye worked for MetLife Investment Management, where he underwrote and presented real estate acquisition and development opportunities to internal management and separate account clients. He also served as a corporate earnings analyst with Condor Hospitality Trust Inc., where he developed and maintained the company’s earnings model and coordinated a $50M equity offering. Mr. Dye also has experience in equity research with Robert W. Baird & Co., with an emphasis on the industrial, office, data center, multifamily, storage, and manufactured housing sectors.

He holds an M.B.A. from the Kenan-Flagler Business School at the University of North Carolina and a B.A. in business administration cum laude from the University of Notre Dame. In addition, he is a CFA charterholder.

Ellen Elberfeld provides research for the firm’s listed infrastructure strategies and is a portfolio manager for the Duff & Phelps Utility & Infrastructure Fund Inc. Her research focuses on global transportation and utilities sectors. Ms. Elberfeld joined the firm in 2016 and began her career in the investment industry in 2006.

Prior to joining Duff & Phelps, Ms. Elberfeld served as the lead transportation analyst for the global infrastructure group at Deutsche Bank Asset Management. In addition, she worked in debt capital markets at Credit Suisse and in risk management services at PricewaterhouseCoopers.

She holds an M.B.A. in accounting and finance from the Kellogg School of Management at Northwestern University and a B.S. in applied economics and management cum laude from Cornell University. In addition, she is a CFA charterholder.

Eric Elvekrog is the Chief Investment Officer for the Duff & Phelps Utility and Infrastructure Fund. His research focuses on global utility and infrastructure companies. Mr. Elvekrog began his career in the investment industry at Duff & Phelps in 1993.

He holds an M.S.A from DePaul University and a B.A. from the University of Chicago. In addition, Mr. Elvekrog is a Certified Public Accountant (CPA) and he is a CFA charterholder.

Timothy Fitzgerald is a Senior Managing Director at Duff & Phelps and is responsible for the trading of equity investment portfolios. He joined the firm in 1994 after having served as an equity trader for Stein Roe & Farnham Incorporated. He began his investment career in 1981. He holds a BS degree from the University of Illinois at Chicago and an MBA from St. Xavier University.

Eric Fogarty provides research for the firm’s listed infrastructure strategies and is a portfolio manager for the Duff & Phelps Global Clean Energy Strategy. His research focuses on global utilities, especially on companies and technologies expected to power the energy needs of the future. Mr. Fogarty joined the firm in 2018 and began his career in the investment industry in 1997.

Prior to joining Duff & Phelps, Mr. Fogarty served as a portfolio manager at Goldman Sachs, specializing in utilities, consumer staples, and ESG and he was responsible for integrating ESG factors into Goldman's investment processes. In addition, Mr. Fogarty served as a management development program associate at Chase Manhattan Bank.

He holds a B.S. in business administration from Binghamton University. In addition, he is a CFA charterholder.

Frank Haggerty is responsible for portfolio management for all dedicated REIT strategies managed by the Duff & Phelps Global Real Estate Securities Team. He is a co-founder of the firm’s international and global REIT strategies. Mr. Haggerty joined Duff & Phelps in 2005 and began his investment career in 1996. Previously, he was a REIT portfolio manager and senior analyst for ABN AMRO Asset Management.

He holds an M.B.A. with distinction from the Kellstadt Graduate School of Management at DePaul University and a B.S. in business administration and management from Illinois State University. Mr. Haggerty is a CFA charterholder. In addition, he serves on the advisory board of the Driehaus Center for Behavioral Finance at DePaul University and is a member of the FTSE EPRA Nareit Americas Regional Advisory Committee.

Christopher J. Hayes serves as a Research Analyst with the Portfolio Solutions, Fixed Income, and Passive Equity team at Duff & Phelps. Mr. Hayes concentrates his research on the fixed income sectors with a focus on corporate bonds. He originally joined Duff & Phelps in the summer of 2014 as a portfolio analytics intern. He also worked as an underwriting intern for The Travelers Company in 2013 and was part of Morgan Stanley’s Early Insights Program in 2013. In December 2014, Mr. Hayes graduated from Xavier University of Louisiana in New Orleans, LA, where he earned a BS in Accounting and was on the University’s dean’s list. Mr. Hayes is a Level III CFA candidate.

Tim Heaney heads the municipal bond strategies area of the Duff & Phelps' fixed income team. He serves as Chief Investment Officer of DTF Tax-Free Income 2028 Term Fund Inc., a closed-end fund traded on the NYSE (symbol: DTF). Mr. Heaney is also responsible for the municipal bond areas for Duff & Phelps' affiliates, Virtus Investment Advisers, Inc. and Newfleet Asset Management, LLC. Mr. Heaney holds a Chartered Financial Analyst designation and BS and MBA degrees from the University of Connecticut. Prior to joining the Virtus organization (formerly part of the Phoenix Companies) in 1992, Mr. Heaney was a credit analyst with Connecticut National Bank.

Jieren Huang provides research to the Duff & Phelps Global Real Estate Securities Team with a primary focus on the U.S. and Asia-Pacific regions. In addition, she is a member of the firm's Responsible Investment Committee. She joined Duff & Phelps in 2018 and began her investment career in 2014.

Previously, Ms. Huang worked at Mizuho Securities USA, where she jointly covered and managed detailed earnings and valuation models for 40+ companies, including health care, multifamily, office, retail, single-family rental, and triple-net lease U.S. REITs. She also served as an audit assistant manager at KPMG in Xiamen, China, where she conducted financial statement audits for major telecom and utility companies.

Ms. Huang holds an M.B.A. from the D'Amore-McKim School of Business at Northeastern University and a Bachelor of Economics with honors from the Shanghai University of International Business and Economics. In addition, she is a Certified Public Accountant (CPA) and a CFA charterholder.

Robert Kokoszka is a Junior Trader at Duff & Phelps and is actively engaged in the trading of equity investment portfolios. Prior to joining Duff & Phelps in 2021, he served as a product operations specialist at UBS O’Connor. Mr. Kokoszka holds a BS in agricultural and consumer economics from the University of Illinois at Urbana-Champaign, where he was a member of the university’s NCAA Division 1 ice hockey team.

Ryan Kokoszyna serves as a junior research analyst for the Duff & Phelps Global Real Estate Securities Team. He joined the company in 2021 and began his career in the investment industry in 2017.

Previously, Ryan worked as an investment consultant at Nuveen, where he conducted research on potential investments for client portfolios and prepared investment proposals.

Ryan holds a B.S. in finance and real estate from Florida State University. He also holds FINRA Series 7 and 66 securities licenses and is a Level II candidate of the CFA Program.

Eric Landwehr is a global analyst on the Duff & Phelps Global Infrastructure Team. His research focuses on the utilities and communications sectors Mr. Landwehr joined Duff & Phelps in 2022 and began his career in the investment industry in 2018.

Previously, Mr. Landwehr served as global equity analyst at Waddell & Reed, where he covered health care providers, homebuilders, building products, and utilities. He also served as an equity analyst intern at Associated Bank, where he focused on the utility sector.

He holds an M.S. and a B.B.A. in finance from the University of Wisconsin–Madison. In addition, he is a CFA charterholder.

Lisa Leonard serves as a portfolio manager for the municipal bond strategies area of the Duff & Phelps' fixed income team. She is also an officer of DTF Tax-Free Income 2028 Term Fund Inc., a closed-end fund traded on the NYSE (symbol: DTF) as well as the municipal bond areas for Duff & Phelps' affiliates, Virtus Investment Advisers, Inc. and Newfleet Asset Management, LLC. Prior to joining the Virtus Organization (formally part of the Phoenix Companies) in 1987, Ms. Leonard was a municipal finance analyst with Connecticut Bank & Trust. She holds a BS degree from the University of Connecticut.

Connie Luecke is a senior portfolio manager for multiple infrastructure strategies at Duff & Phelps. Ms. Luecke joined the firm in 1992 and began her career in the investment industry in 1983.

Prior to joining Duff & Phelps, Ms. Luecke served as a valuation consultant at Coopers & Lybrand Consulting and as a research assistant at Harris Associates.

She holds an M.B.A. from the Graduate School of Business at Loyola University and a B.S. in finance from DePaul University. In addition, she is a CFA charterholder.

Jason Ren provides research to the Duff & Phelps Global Real Estate Securities Team and is a member of the firm's Responsible Investment Committee. He joined Duff & Phelps in 2012 and began his investment career in 2008.

Prior to joining Duff & Phelps in 2012, Mr. Ren served as a senior equity analyst at Morningstar, where he co-managed REIT coverage. During his tenure at Morningstar, he also co-developed the firm’s REIT credit rating methodology and assisted in credit coverage of REITs.

He holds a B.A. in economics and history cum laude from Williams College. In addition, Mr. Ren is a CFA charterholder.

Akin Rojugbokan is a Managing Director and serves as investment analyst, responsible for fundamental credit analysis of all corporate bonds held across all fixed income portfolios managed at Duff and Phelps. He is also responsible for the fundamental equity analysis of large-cap equities. Prior to joining Duff and Phelps in 2005, Mr. Rojugbokan was with National City Corporation where he was responsible for fixed income credit analysis for the corporate bond portfolio and was also an associate within the bank’s Mergers and Acquisitions group. He holds a BS degree from Texas A&M University and an MBA degree from the University of Michigan.

Shalini Sharma serves as a Senior Managing Director and portfolio manager of the Duff & Phelps' Investment Grade Fixed Income & Large Cap Equity institutional separate accounts. Prior to joining Duff & Phelps in 2000, she was an Associate Director and Statistical Coordinator at Brinson Partners. She holds a BS degree from the University of New Delhi and an MBA from Loyola University of Chicago.

Ron She provides research to the Duff & Phelps Global Real Estate Securities Team with a primary focus on the Asia-Pacific region. He also covers U.S. companies with a global reach or other complementary characteristics. He joined Duff & Phelps in 2007 and began his investment career in 1998.

Previously, Mr. She was a senior research associate at FBR Capital Markets, where he covered various U.S. REIT sectors including retail, industrial, office, and health care. He also held roles at Capital One Financial and Government of Singapore Investment Corp. (GIC) Real Estate Inc., where he engaged in investment and asset management functions involving both public and private real estate markets. In addition, Mr. She worked for a state-owned real estate developer in China.

He holds an M.B.A. from The Wharton School of the University of Pennsylvania with honors. He also holds an Master of Architecture degree (M.Arch) from the University of Notre Dame and graduated first in his class with a Bachelor of Engineering degree from Tsinghua University in Beijing. In addition, he is a CFA charterholder.

Michael Slater provides research to the Duff & Phelps Global Real Estate Securities Team with a primary focus on Europe and Canada. He also covers U.S. companies with a global reach or other complementary characteristics. He joined Duff & Phelps in 2008 and began his investment career in 1992.

Previously, Mr. Slater was an associate portfolio manager at Goodman & Company Investment Counsel, where he was responsible for advising on a global real estate security fund. He also worked at Great West Life Insurance Company in various positions, most recently as director of asset management. In addition, he was a valuation consultant at a boutique real estate and property tax valuation firm.

He holds a Bachelor of Commerce and Finance degree (B.Comm.) from the University of Toronto. In addition, he is a CFA charterholder.

Brian VanderMeulen is a Director at Duff & Phelps and is responsible for the trading of equity investment portfolios. He joined the firm in 2000. Prior to joining Duff & Phelps, Mr. VanderMeulen served in options and currency operations at First Options Chicago. He began his investment career in 1997. He holds a BS degree from Trinity Christian College and an MBA from St. Xavier University.

Kyle West, Managing Director, serves as co-Portfolio Manager for the DNP Select Income Fund and the firm’s MLP and energy infrastructure strategy.  He is a Senior Research Analyst for North American midstream energy and utility companies. Previously, Mr. West served as an Institutional Relationship Manager and Product Specialist for the firm’s Investment Grade Fixed Income, Large Cap Equity, and Global Listed Infrastructure strategies. Mr. West holds a B.A. in Mathematics, cum laude, from Wabash College and an MBA, magna cum laude, from The Mendoza College of Business at University of Notre Dame.