Evgeny Vostretsov, CFA, FRM, CAIA
Verified Expert in Finance
A hedge fund analyst and a former CFO of a startup, Evgeny performed deep-dive research on 15+ public equities and evaluated 30+ private equity and mezzanine debt transactions. Before getting an MBA from Chicago Booth, Evgeny founded an online retailer that sold across 11 time zones. He has advised on $5B+ valuations while at E&Y. He enjoys freelancing to help clients with evaluating investments, financial modeling, capital raising, and M&A.
Investment Idea Presentation of Interactive Brokers Stock (IBKR)
Financing for an LBO Transaction
Long & Short Equity Investment Analyst
Alpha Wave Global
- Led research on Semiconductors and Industrials sectors; analyzed companies in semiconductors/WFE, aerospace, automotive, capital goods, chemicals, construction, and housing sub-sectors.
- Designed a process for managing knowledge on new technologies, companies, and end markets; refined new idea research and position maintenance process to stay updated on developments across covered industries.
- Built a network of industry advisors; leveraged the technical background to forge relationships with subject matter experts.
- Mentored and managed four junior analysts and interns; trained to identify key drivers of value and red flags for long and short opportunities; oversaw junior analysts' contribution to research on companies in the industrial sector.
- Evaluated enabling technologies for leading-edge foundry/logic; recommended investment in ASM, maker of single-wafer ALD tools that benefit disproportionately from Node.js transition; position returned 150% and 100% versus SOX.
- Refuted a widely publicized short thesis; recommended the stock after extensive fact-checks disproved each short thesis point; the investment resulted in a 2.5-time return over a two-year holding period.
- Identified the company with an unviable business model valued as if it could attack large TAM; investigated unit economics of the business to gain conviction; recommended a short position that declined 95% in 14 months.
- Spearheaded the research on the implications of COVID; evaluated scientific news on transmission, variants, and vaccines.
Hedge Fund Analyst
- Developed a long thesis supported by a detailed financial model of a European specialty retail company. Demonstrated that the increased expenditures on acquiring new customers were the sole source of the decline in quarterly earnings.
- Investigated the circular ownership of two interconnected conglomerates and formulated investment recommendations on the stocks based on a 40% discount on the net asset value.
- Examined a distressed software company's business and capital structure and developed a thesis for a "short" recommendation on the stock.
- Disproved a "long" thesis on a small-cap media company stock and convinced the portfolio manager against holding it two months before the stock lost 40% of its value.
- Analyzed the trends in the telecommunications sector using both primary (industry experts) and secondary (research reports) methods to inform recommendations on current portfolio positions and new investments.
- Examined opportunities to invest in mezzanine debt in more than 20 leveraged buyout (LBO) transactions with $20 to 200 million transaction values.
- Developed an investment thesis for investing $109 million in convertible debt in a $160 million LBO of an automotive parts manufacturer based in Michigan.
- Prepared a memorandum for the investment committee on a debt investment in an add-on acquisition by a private equity-backed company in the metal fabrication industry.
- Formulated a thesis and presented a memo for the initial approval of financing for a $41 million LBO of a leading distributor of fittings and associated products in the U.S.
- Assessed an opportunity to invest in a convertible debt in a more than $70 million transaction of a simultaneous merger of two staffing companies and LBO of NewCo by a private equity sponsor.
Private Equity Associate
NextGen Growth Partners
- Prepared LBO models, composed LOIs, and led the correspondence with sellers and bankers for seven prospective transactions.
- Developed a thesis on clinical trial services and clinical trials site management industries by building a list of more than 100 potential targets with $1 to 10 million EBITDA and coordinated communications with the owners, resulting in advancing with three viable prospective targets.
- Formulated a process to source proprietary deals; developed industry thesis and brought in more than ten potential acquisition targets.
- Built projections and the LBO model for the potential acquisition of a fresh produce wholesale company with $145 million in annual sales; developed a value-creation plan and a list of potential add-on acquisitions.
- Introduced a structure for a deal and contingent consideration that best aligns interests of the private equity firm and sellers of the company for a $12 million prospective transaction, resulting in signing an LOI and proceeding to the due diligence stage.
- Planned a real estate redevelopment for a children’s entertainment center and developed a financial model for the project; optimized features of the center to maximize profitability—resulting in $500,000 in savings for a client.
- Designed new subscription-based business model and a business plan for an online B2B platform for jewelry businesses; presented the service to jewelry retail chains and enabled a client to secure $30,000 in subscription contracts for the pilot version of the service.
- Identified an opportunity to save $40,000 annually for a restaurant chain by improving their supply chain management.
- Consulted a new brokerage company on its financial plan and established operating procedures—saving $60,000 on IT solutions.
Business Valuation Consultant
Ernst & Young
- Developed financial models and client deliverables for valuations of companies in the software and oil & gas sectors and of private-public partnership projects.
- Verified valuations of 20 companies totaling more than $15 billion in value for IFRS accounting statements.
- Researched discrepancies between the valuation of a company based on Bloomberg data and those based on EY template spreadsheet with Capital IQ data; prevented a $100 million valuation error for an M&A transaction.
- Coached colleagues and worked with them on the valuation of option contracts of more than $100 million in total value.
CFO/COO | Co-founder
- Founded an online clothing retail company; collaborated with a team of three people to partner with a clothes manufacturer and generated $600,000 in revenues in the first year of operations.
- Built a financial model for internal projections and external financing efforts that resulted in raising $200,000 in private debt to finance working capital needs during the early stages of the startup.
- Implemented a client relationship management system and increased average lifetime revenue per customer by 40%.
- Analyzed the correlation of sales to marketing activities and external factors using a regression model and increased sales by 20% year-on-year with the same marketing budget, by optimizing the marketing expenditure.
- Established the budgeting procedures and led the initiative to automate budgeting and control procedures in an ERP system.
- Hired and supervised a sales team with in-depth expertise in clothes industry to obtain more than 15 loyal wholesale customers.
- Audited the inventory and PP&E sections for clients in the industrials sector.
- Executed procedures for an inventory section audit of the Transpolar division of Norilsk Nickel; ensured consistency with IFRS concerning a $900 million business division.
- Designed a new inventory year-end cut-off test based on the analysis of data from three overlapping databases to be consistent with accounting standards and the client’s new accounting policy.
- Presented calculations and proposed a correcting accounting transaction of $12 million that was accepted by the client’s accounting department.
Master of Business Administration (MBA) Degree in Analytic Finance, Economics, Entrepreneurship, and General Management
University of Chicago, Booth School of Business - Chicago, IL, USA
Chartered Financial Analyst (CFA) in Finance
CFA Institute - USA
Chartered Alternative Investment Analyst in Alternative Investments
CAIA Association - USA
Bachelor's Degree in Physics and Computer Science
Novosibirsk State University - Novosibirsk, Russia
Chartered Financial Analyst (CFA)
Certified Financial Risk Manager (FRM)
GARP | Global Association of Risk Professionals
Chartered Alternative Investment Analyst (CAIA)
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