He will report to Douglas Jamieson, president and chief operating officer of Gabelli Asset Management. Mr. Scholz will be responsible for growing assets under management for the full range of alternative products. His primary focus will be on direct sales through the existing sales force.

"Bill has been involved with our institutional business since he joined the firm in 1985. His knowledge of our products, investment process and exclusive customer base is unmatchable," said Marc Gabelli. "We feel Bill will lead and accelerate the growth of this dynamic product group. One of his initial objectives will be to add two sales professionals."

Before joining the Gabelli organization, he was vice president of institutional equity sales at Deutsche Bank Capital, Prudential Securities and Merrill Lynch Capital Markets. He has a BBA degree from the University of Miami and an MBA from Harvard Business School.

Mr. Scholz is a resident of Greenwich, CT. A U.S. national, he was born in Lima, Peru and is fluent in Spanish and Italian. He is a member of the Harvard Club of New York and Boston, and the U.S. Coast Guard Auxiliary and will be based at the firm's headquarters in Rye, NY.

Gabelli & Partners, LLC is a subsidiary of Gabelli Asset Management Inc., a publicly traded asset management company (GBL:NYSE) which, through its subsidiaries, manages approximately $28 billion in assets of mutual funds, closed-end funds, partnerships and offshore funds and private advisory accounts.

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