Frederick Wallert Jr.

Frederick Wallert, Jr., age 90 of Wayne, passed away peacefully on Tuesday, June 10, 2025.

Born and raised in Brooklyn, NY, Fred was the youngest of three children raised by Frederick Sr. and Katherine Wallert. Fred was a lifelong learner and from a young age he was fascinated by technology. At just 12 years old in the year 1947, Fred built a television – a remarkable feat of engineering for someone so young.

After graduating high school, Fred enlisted in the Navy where his aptitude for learning was quickly recognized. The Navy offered him the opportunity to study and learn more about the electronics that fascinated him. In the 4 years he served, he spent 3 of those years studying and applying his knowledge to the Navy. The education proved worthwhile as he was able to contribute his growing expertise to Naval Mine Warfare and to the Talos telemetry systems (missile guidance). The Navy made several requests to Fred to try and keep him in their service including offering admittance to OCS and Naval Air Cadet (now TOPGUN) but, after four years in the Navy Fred decided to return to civilian life where he discovered a new opportunity on Wall Street. 

In 1961, Fred started his Wall Street career with Loeb Rhoades and Co. handling phases of Venture Capital Investment for the Loeb family and associates. That included tracking all aspects of financial performance, reporting, and real estate, motion picture, music, theatrical plays, and other various industries. In the 1970’s Fred served on the Board of Directors of Lol Oil Corporation, MGT Corporation, Rescent Corp, and Aerospace Mortgage Corp.  Over time, he became Vice President of Loeb Partners Corporation – the successor to Loeb Rhoades and Co. 

In 1980 Fred joined the Loeb family by personally participating as a general partner in various Loeb Investor Co. deals. His work in Venture Capital saw him participate in over 80 ventures including many innovative new ideas like the MRI machine, 1st Response Pregnancy Tests, and Monoclonal Antibodies to name a few. He was well known in the industry for his exceptional ability to recognize the innovations that would prove to be a success at a rate far exceeding the industry average. Fred continued in this role until 1999 when he was recruited by Wave Entertainment Inc. as Senior Vice President of Corporate Development.

Fred will be remembered as a self-made man. His expertise across such a broad range of subjects made him a remarkable individual that could truly talk about anything from a knowledgeable perspective. His skills made him invaluable to the Venture Capital world. Even in his 90’s Fred was approached for advice on prospective ventures! Apart from his professional career, Fred will be remembered as the loving husband of his wife of 63 years – Gail Wallert as well as a loving and generous father and grandfather.

Fred is survived by his wife Gail Wallert; his two children: Cathy Spence (spouse Vic Spence) and Rick Wallert (spouse Nancy Wallert); and his grandchildren: Laura Spence, Kelly Wallert and Rick Wallert.  Fred is predeceased by his parents and his older brothers, Charles and George Wallert.