David began his investment career at Citibank in 1968 after graduating from Columbia University’s Graduate School of Business with an MBA. He established Citibank’s Technology Investment Research Team in the early 1970s. He was promoted to the portfolio management department in 1975 where he created and managed the very successful Special Equity Fund pool of capital investing in emerging growth stocks. As a young Vice President at Citibank, he pioneered in the U.S. the use of alternative investments for institutional clients by investing early in private equity and venture capital partnerships beginning in 1975.
In 1981 he founded Crown Advisors. Crown was the first independent U.S. money management firm devoted to investing in a mix of both private and public emerging growth companies. Private companies financed included BISYS, Ciena, Cobalt Networks, Compaq Computer, Convex Computer, Continental Medical, Convergent Technologies, Cypress Semiconductor, Crystal Semiconductor, Fiserv, Lincare, Lotus Development, Mentor Graphics, Teradata and U.S. Surgical Partners among others. Early public company investments included Bed Bath & Beyond, Communications Industries, Hewlett-Packard, Information Resources, Intel, Medcath, Molex, Paychex, Perkin Elmer, Pizza Hut, Red Robin Gourmet Burgers, Safety-Kleen, Sbarro, Shared Medical, Tandem Computers, Texas Instruments, US Surgical Products and Wal-Mart. Crown Advisors’ clients included corporate pension funds, university endowments, state pension funds, wealthy families, entrepreneurs and general partners of private equity firms. The clients were both domestic and international.
From 1980 to 2002 Mr. Bellet taught an annual investment seminar class devoted to emerging company stock analysis at Stanford University Graduate School of Business. From 1993 to 2003 Mr. Bellet served on the Board of Trustees of the Foundation for Teaching Economics devoted to improving the economic education of U.S. high school teachers and students.
After 37 years in the investment management business, David retired from Crown Advisors in June, 2005 to focus on family investments and several charitable and educational activities. He remains an active alumnus of the University of Pittsburgh where he earned a BA and majored in Political Science. He continues to serve on the Advisory Boards of several well-known private equity firms with capital in excess of $20 billion including Alta-Berkeley (England), CenterPoint Ventures (Texas), Noro-Moseley (Georgia), Sevin-Rosen (Texas) and Welsh Carson Anderson & Stowe (New York). In 2005 Mr. Bellet joined the Board of London based educational company WCLS Group where he was also a principal shareholder and the Advisory Board of Runnymede Capital Management (New Jersey). WCLS Group was sold in April 2008.