Corporate Finance and Research Consultant
Self-Employed / Independent Contractor
2017 - PRESENT
- Provided business and transaction-related financial modeling; valuations; market/industry research; debt and equity capital-raising; mergers, acquisitions, and divestitures support; financial restructuring; and security analysis as a corporate finance and capital market professional.
- Created a financial projection model and investor presentation for a startup mobile application technology company for its early-stage fundraising round.
- Advised and built a financial model and a competitor pricing database for a high-end jewelry manufacturer in its expansion into the e-commerce and direct-to-consumer space.
- Carried out market research on a list of niche financing strategies for a family office to support the expansion of their fixed income investment platform.
- Built a spreadsheet-based template that unpacks and models the salient quantitative figures and qualitative data points in credit agreements and indentures for the leading bond and loan covenant research provider.
Focus areas: Financial Modeling, Budgeting, Financial Planning & Analysis (FP&A), Valuation, Corporate Finance, Market Research, Capital Raising, Mergers & Acquisitions (M&A), Capital Structure, Financial Restructuring
Senior Investment Analyst
Tiburon Capital Management
2015 - 2017
- Researched and analyzed global event-driven/value-with-a-catalyst securities across the capital structure through the lens of a five-part methodology that considers bottom-up fundamental analysis, revaluation catalysts, capital structure review, actors assessment, and external influences.
- Spearheaded a shareholder activist campaign targeting a $450+ million (enterprise value) business development company trading at a 35% discount to net asset value (NAV) – ~30% 1-year total return for a passive stake. The effort was part of an initiative I was leading to raise assets under management (AUM) by pitching activism and takeover co-investment opportunities to investors.
- Significantly contributed to portfolio returns through investment recommendations, including shorting the shares of a $30+ billion (market capitalization) grocer; realized a ~20%+ return.
Focus areas: Equity Research, Three Statement Operating Model, Valuation Analysis, Capital Structure Analysis, Investment Thesis, Credit Investing, Mergers & Acquisitions (M&A), Fundraising, Investment Return Scenario Analysis, Investment Portfolio Management
Portfolio Management/Workouts Group Senior Analyst
Fifth Street Asset Management
2014 - 2015
- Covered $150+ million of broadly syndicated leveraged loans and middle market club deals.
- Re-underwrote the first lien term loan of a private-equity backed dental practice management company (trading at ~70% of par) in support of a workout plan and communicated thoughts to steering committee. The company was sold and loans were repaid in full one year later.
Focus areas: Leveraged Buyout Model, Variance Analysis, Bank Debt Raises, Senior Secured Debt, Investment Memoranda, Investment Briefs, Investment Summaries, Investment Monitoring
High Yield Credit Research Analyst
J.P. Morgan Securities
2013 - 2014
- Supported senior analyst covering 40+ high-yield credits in all industries of the oil and gas sector.
- Published research reports for buy-side clients and advised institutional sales team and loan, bond, and CDS traders.
- Pitched short recommendation to the proprietary trading desk on Connacher Oil and Gas (TSE: CLL) senior notes. Thesis: insufficient liquidity and inadequate asset value in bankruptcy scenario – bonds traded down ~70%.
Focus areas: Financial Modeling, Ratio Analysis, Comparable Company Analysis, Cash Flow Forecasting, Three Statement Operating Model, Financial Projections, Stock Trading, Debt Raises, Capital Markets
Corporate Finance Group Associate Analyst
Moody's Investors Services
2011 - 2013
- Supported lead analysts in assigning and monitoring credit ratings for 25+, mostly speculative-grade, issuers with $20+ billion of public debt in all industries of the oil and gas sector.
- Completed analyses that underpinned long-term Issuer Ratings and Corporate Family Ratings (CFR), Speculative Grade Liquidity Ratings (SGL), and Loss Given Default (LGD) assessments.
- Managed covenant database used for Covenant Quality (CQ) scoring and research for issuers covered.
Focus areas: Financial Modeling, Ratio Analysis, Financial Benchmarking, Credit Risk Analysis, Credit Analysis, Pro Forma Financial Statements