2010
Founded in$11.4B
AUM69
Employees17
Average Years of ExperienceStrategies
Liquid Long Only
Diversified Hedged
Specialty Finance
Opportunistic
ERISA
CLO Management
Team
LibreMax has 69 employees, 42 of whom are dedicated investment professionals, quantitative analysis and risk management personnel. The average tenure of the investment team is 17 years, spanning a variety of market cycles. The leadership team includes 8 partners, most of whom have been with the Firm since its inception.
Leadership Team
Chief Investment Officer
Portfolio Manager
Chief Operating Officer and General Counsel
Chief Risk Officer
Head of Strategy and Business Development, and Chief Administrative Officer
Chief Financial Officer
Head of Commercial
Chief Marketing Officer
Investment Team
Marketing and Investor Relations
Compliance
Risk Management
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Greg LippmannChief Investment OfficerMr. Lippmann is the Managing Founding Partner and the Chief Investment Officer (“CIO”) of LibreMax. He is chairman of LibreMax’s Investment Committee, a non-voting member of its Risk Management and Valuation Committees, and a member of its ESG Committee. Prior to founding LibreMax, Mr. Lippmann was head of all non-agency RMBS, ABS and CDO trading globally at Deutsche Bank, where he led a team of 30 senior professionals in New York and London. Mr. Lippmann began his career at Deutsche Bank as a trader of non-investment grade ABS and RMBS securities. In 2003, he became Global Head of ABS and CDO trading, adding non-agency MBS to his business in late 2008. Prior to joining Deutsche Bank in 2000, Mr. Lippmann was a Director and head of ABS/MBS Subordinate and CDO trading at Credit Suisse, which he joined in 1991. Mr. Lippmann graduated from the University of Pennsylvania in 1991, magna cum laude, with a B.A. in Economics and a minor in English. Mr. Lippmann serves on the board of New 42nd Street and the South Fork Natural History Museum. He is also on the Advisory Council of the American Museum of Natural History. |
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Craig Sedaka, CFAPortfolio ManagerMr. Sedaka is a Partner and the Portfolio Manager of LibreMax and is also a member of its Investment Committee, a non-voting member of its Risk Management and Valuation Committees, and Chairman of its ESG Committee. Mr. Sedaka focuses on sourcing, risk management, and trading for the firm’s investments. Prior to becoming the Portfolio Manager in January 2018, Mr. Sedaka served as Sector Head of RMBS Subprime on the investment team, responsible for distressed mortgage securities, derivatives, whole loans, and an array of esoteric and re-structured credit products. In addition to his responsibilities in commingled fund strategies, he helped manage a successful closed-end fund focused on distressed mortgage assets from 2012-2015 and several separately managed accounts. Before joining LibreMax in October 2010, Mr. Sedaka traded subprime mortgage-backed securities and single name credit default swaps in Mr. Lippmann’s trading group at Deutsche Bank. Mr. Sedaka began his career at Deutsche Bank in 2006, focusing on senior and subordinate subprime mortgage securitizations. Mr. Sedaka graduated summa cum laude with a B.S. in Economics from the Wharton School at the University of Pennsylvania in 2006. He is also a Chartered Financial Analyst (CFA) Charterholder. |
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Frank BruttomessoChief Operating Officer and General CounselMr. Bruttomesso is a Partner and the Chief Operating Officer (“COO”) and General Counsel of LibreMax and is a member of its Investment, Risk Management, ESG, and Valuation Committees. Prior to joining LibreMax in October 2010, Mr. Bruttomesso was a Senior Vice President, Counsel and Assistant Secretary for AllianceBernstein L.P. where he headed the Alternative Investments and Derivative Contracts groups within the Legal and Compliance Department from 2001 to 2010. As the Head of the Alternative Investments group he was a key member in the creation and launch of AllianceBernstein’s fixed income, equity, commodity and currency based alternative investment products and served as a Director for AllianceBernstein’s Cayman Islands and Luxembourg domiciled hedge funds. Prior to joining AllianceBernstein, Mr. Bruttomesso was a First Vice President and Counsel of Morgan Stanley Investment Management where he worked as an attorney for the Morgan Stanley/Dean Witter family of registered mutual funds from 1996 to 1999. He began his career as a Corporate Attorney at Rogers and Wells LLP from 1993 to 1996. Mr. Bruttomesso received a B.A. from Yale University in 1990 and a cum laude JD from Brooklyn Law School in 1993 and is member of the New York State Bar since 1994. |
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Glenn Perillo, CFAChief Risk OfficerMr. Perillo is a Partner and the Chief Risk Officer (“CRO”) of LibreMax. He is the Chairman of LibreMax’s Risk Management Committee and a member of its Investment and Valuation Committees. Prior to joining LibreMax in April 2012, he was head of securitized products at Citadel Investment Group where he was responsible for managing portfolios of distressed RMBS. Throughout his three years at Citadel, Mr. Perillo was also responsible for development of Citadel’s mortgage credit models and valuation platform. Prior to joining Citadel, he was with the portfolio management group at BlackRock, where he specialized in managing RMBS for institutional clients. He also served as Head of Mortgage Research and Co-Head of Financial Modeling at BlackRock Solutions. He was with BlackRock for 10 years prior to joining Citadel. Previous to BlackRock, Mr. Perillo was Investment Vice President & Portfolio Manager at New York Life Insurance Company. A Chartered Financial Analyst (CFA) Charterholder, Mr. Perillo holds an MBA in Finance and an M.S. in Statistics and Operations Research from New York University (1996). He received a B.S. in Computer Engineering from the University of South Florida (1985). |
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Gloria RadeffHead of Strategy and Business Development, and Chief Administrative OfficerMs. Radeff is a Partner, Head of Strategy and Business Development, and the Chief Administrative Officer (“CAO”) of LibreMax. She is a member of its Risk Management, Valuation, and ESG Committees. Prior to joining LibreMax in October 2010, Ms. Radeff was an Investment Professional at Diamondback Capital from 2007 to 2009, where she was responsible for technology, media and telecommunications portfolio investment recommendations. Ms. Radeff was a founding partner and Managing Director of Rhombus Capital, a long short equity fund, from 2004 to 2006. Ms. Radeff spent eight years as an equity research analyst covering the media, cable, and telecom sectors from 1997 to 2004 at Bear Stearns, Lehman Brothers and ABN AMRO. Ms. Radeff holds a B.A. from Duke University where she was a member of the Varsity Swim Team (1990 - 1994). Recent recognitions for Ms. Radeff include being named as one of the “50 Leading Women in Hedge Funds 2020” by the Hedge Fund Journal in association with Ernst & Young and “Notable Women on Wall Street 2021” by Crain's New York Business. |
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Ross Lesnick, CPAChief Financial OfficerMr. Lesnick is a Partner and the Chief Financial Officer (“CFO”) of LibreMax. He is Chairman of LibreMax’s Valuation Committee and a member of its Risk Management Committee. Prior to joining LibreMax in August 2012, he worked at Fir Tree Partners as the Assistant Controller, where he managed a team of five CPAs in performing all accounting functions for four master-feeder structures from 2008 to 2012. In addition, Mr. Lesnick co-chaired the Counterparty Credit Committee and was responsible for managing the prime broker and ISDA relationships at Fir Tree Partners. Prior to this, Mr. Lesnick was a Vice President at Ramius Capital Group, where he was a member of the Structured Products Investment Team responsible for accounting, operational and treasury functions for five CDOs and a hedge fund from 2006 to 2008. From 2003 to 2005, he was a financial associate in the Fund Accounting Group at Ramius Capital Group. Mr. Lesnick began his career in 2001 with Goldstein, Golub, and Kessler LLP, a mid-size public accounting firm, where he focused on the hedge fund industry. He graduated with a B.S. in Accounting from the University of Maryland, College Park and has been a licensed CPA in New York since 2003. |
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Prashant SwaminathanHead of CommercialMr. Swaminathan is a Partner and the Head of Commercial assets on the investment team at LibreMax and is also a member of the Investment Committee. Prior to joining LibreMax in June 2011, Mr. Swaminathan was an Investment Banking Analyst in the Leveraged Finance Group at Barclays Capital, working on High Yield and leveraged loan origination as well as M&A and LBO transactions. Mr. Swaminathan graduated with distinction with a B.S.E. in Biomedical Engineering, a minor in Economics, and a certificate in Global Health from Duke University in 2010. |
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Emily FritzChief Marketing OfficerMs. Fritz is a Partner and the Chief Marketing Officer at LibreMax. Prior to joining LibreMax in September 2017, she was in Business Development at Coastland Capital and GoldenTree Asset Management. Prior to these roles, she was a Director at William E Simon & Sons, a family office based in Los Angeles. Ms. Fritz is a Founding Board Member of Chick Mission, a non-profit organization dedicated to fertility preservation for newly diagnosed cancer patients. She obtained her MBA from NYU Stern School of Business in 2013 and BA from the University of California, Los Angeles in 2004, where she was a member of the Women’s Varsity Soccer team. |
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Greg LippmannChief Investment OfficerMr. Lippmann is the Managing Founding Partner and the Chief Investment Officer (“CIO”) of LibreMax. He is chairman of LibreMax’s Investment Committee, a non-voting member of its Risk Management and Valuation Committees, and a member of its ESG Committee. Prior to founding LibreMax, Mr. Lippmann was head of all non-agency RMBS, ABS and CDO trading globally at Deutsche Bank, where he led a team of 30 senior professionals in New York and London. Mr. Lippmann began his career at Deutsche Bank as a trader of non-investment grade ABS and RMBS securities. In 2003, he became Global Head of ABS and CDO trading, adding non-agency MBS to his business in late 2008. Prior to joining Deutsche Bank in 2000, Mr. Lippmann was a Director and head of ABS/MBS Subordinate and CDO trading at Credit Suisse, which he joined in 1991. Mr. Lippmann graduated from the University of Pennsylvania in 1991, magna cum laude, with a B.A. in Economics and a minor in English. Mr. Lippmann serves on the board of New 42nd Street and the South Fork Natural History Museum. He is also on the Advisory Council of the American Museum of Natural History. |
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Craig Sedaka, CFAPortfolio ManagerMr. Sedaka is a Partner and the Portfolio Manager of LibreMax and is also a member of its Investment Committee, a non-voting member of its Risk Management and Valuation Committees, and Chairman of its ESG Committee. Mr. Sedaka focuses on sourcing, risk management, and trading for the firm’s investments. Prior to becoming the Portfolio Manager in January 2018, Mr. Sedaka served as Sector Head of RMBS Subprime on the investment team, responsible for distressed mortgage securities, derivatives, whole loans, and an array of esoteric and re-structured credit products. In addition to his responsibilities in commingled fund strategies, he helped manage a successful closed-end fund focused on distressed mortgage assets from 2012-2015 and several separately managed accounts. Before joining LibreMax in October 2010, Mr. Sedaka traded subprime mortgage-backed securities and single name credit default swaps in Mr. Lippmann’s trading group at Deutsche Bank. Mr. Sedaka began his career at Deutsche Bank in 2006, focusing on senior and subordinate subprime mortgage securitizations. Mr. Sedaka graduated summa cum laude with a B.S. in Economics from the Wharton School at the University of Pennsylvania in 2006. He is also a Chartered Financial Analyst (CFA) Charterholder. |
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Prashant SwaminathanHead of CommercialMr. Swaminathan is a Partner and the Head of Commercial assets on the investment team at LibreMax and is also a member of the Investment Committee. Prior to joining LibreMax in June 2011, Mr. Swaminathan was an Investment Banking Analyst in the Leveraged Finance Group at Barclays Capital, working on High Yield and leveraged loan origination as well as M&A and LBO transactions. Mr. Swaminathan graduated with distinction with a B.S.E. in Biomedical Engineering, a minor in Economics, and a certificate in Global Health from Duke University in 2010. |
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Kevin TylerHead of ABSMr. Tyler is the Head of ABS on the investment team at LibreMax and a member of the Investment Committee. Prior to joining LibreMax in June 2018, Mr. Tyler was at Credit Suisse where he was a Director in Structured Products, Student and Marketplace Lending from 2015 to 2018. Prior to this, he was at RBC Capital Markets in the Structured Products group from 2011 to 2015. He was a Structured Products Analyst at Barclays Capital from 2010 to 2011 and a Process Strategist and Operations Associate at Bridgewater Associates from 2007 to 2009. He holds a B.S. in Electrical Engineering from University of Connecticut. |
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Khalil KanaanHead of ResidentialMr. Kanaan is the Head of Residential assets on the investment team at LibreMax and a member of the Investment Committee. Prior to joining LibreMax in November 2022, Mr. Kanaan was a Senior Managing Director at Finance of America – Incenter LLP from 2019 to 2021. From 2008 to 2016, he was a Partner and Portfolio Manager at One William Street Capital. Prior to that, he worked at Lehman Brothers from 1998 to 2008. Mr. Kanaan holds a B.S. in Civil Engineering from Georgia Institute of Technology (1995) and an M.S. in Engineering & Management from University of Michigan (1996). |
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Bryan GonnellaHead of CLOsMr. Gonnella is the Head of CLOs on the investment team at LibreMax and a member of the Investment Committee. Prior to joining LibreMax in February 2022, Mr. Gonnella was at RBC from 2019 to 2022 trading CLOs and ILS in the Structured Products group. He previously led the CLO & ILS Trading desks at Guggenheim Securities from 2014 to 2019. He holds a B.S.B.A in Finance and Healthcare Management from Washington University in St. Louis. |
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Ben AitkenheadProduct StrategistMr. Aitkenhead is a Product Strategist at LibreMax and a member of the Investment Committee. Prior to joining LibreMax in November 2023, Mr. Aitkenhead was Head of Private Placements at Pacific Oak Capital, a commercial real estate investment company, from 2017 to 2023, and a private investor in early-stage companies from 2012 to 2017. Prior to that, Mr. Aitkenhead was a Managing Director at Credit Suisse in New York where he worked from 1989 to 2012. He held a variety of positions at Credit Suisse including trading, origination and capital markets across structured products. He was Co-Head of Structured Products from 2004 to 2011 and a member of the Global Fixed Income Operating Committee from 2006 to 2011. Mr. Aitkenhead graduated from New York University with a Masters in Comparative Politics in 1989 and graduated from Oxford University with a BA in Philosophy, Politics and Economics in 1987. He is an Oxford Blue in soccer. He is an independent director on the board of PIMCO’s Private Credit and CRE funds, and previously served as an independent trustee on the board of Blackstone Real Estate Income Fund from 2013 to 2022. |
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Emily FritzChief Marketing OfficerMs. Fritz is a Partner and the Chief Marketing Officer at LibreMax. Prior to joining LibreMax in September 2017, she was in Business Development at Coastland Capital and GoldenTree Asset Management. Prior to these roles, she was a Director at William E Simon & Sons, a family office based in Los Angeles. Ms. Fritz is a Founding Board Member of Chick Mission, a non-profit organization dedicated to fertility preservation for newly diagnosed cancer patients. She obtained her MBA from NYU Stern School of Business in 2013 and BA from the University of California, Los Angeles in 2004, where she was a member of the Women’s Varsity Soccer team. |
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Megan GoetchiusManaging DirectorMs. Goetchius is a Managing Director of Marketing & Investor Relations at LibreMax with a focus on client service. Prior to joining LibreMax in June 2018, she was at Owl Creek Asset Management in the Marketing and Investor Relations group since 2011. Previously, she was at Wall Street Access Management in the wealth management division from 2009 to 2011. Prior to Wall Street Access Management she was at PricewaterhouseCoopers from 2006 to 2009 in the audit division where she obtained her CPA license. Ms. Goetchius graduated with both a B.S. (2006) and M.S. (2007) in Accounting from Boston College. |
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Jordan RosenbergDirectorJordan Rosenberg, CIMA® is a Director of Business Development at LibreMax. Prior to joining the firm, he was a Vice President at Galaxy where he was responsible for the distribution of Galaxy’s digital asset fund lineup to Institutional Allocators. Prior to Galaxy, he worked at JP Morgan Asset Management covering RIAs, Family Offices, and Bank & Trust firms and he started his career at Lord Abbett & Co. Mr. Rosenberg volunteers as a Program Director for Experience Camps – a one-week overnight camp for children who have lost a parent, sibling, or primary caregiver. He holds the CIMA® designation and received a B.S. in Finance from the Robert H. Smith School of Business at the University of Maryland. |
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Anastasia HimesDirectorMs. Himes is a Director in the Marketing & Investor Relations Group at LibreMax with a focus on client service. Prior to joining LibreMax in September 2019, she was at Skadden, Arps, Slate, Meagher & Flom LLP where she was a U.S. Immigration and International Visiting Attorney Program Coordinator from 2017 to 2019, and a Project Assistant from 2016 to 2017. Prior to this role, Ms. Himes was an Immigration Paralegal at Gibney, Anthony & Flaherty from 2015 to 2016. Ms. Himes holds an MBA (2018) and a B.A. in Government and Politics (2015), both from The University of Maryland, College Park. |
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Josh ReissDirectorMr. Reiss is a Director of Business Development at LibreMax Capital. Prior to joining LibreMax, he spent 8 years working at Oakpoint Advisors where he was responsible for U.S. distribution as a member of the Capital Team. Mr. Reiss graduated cum laude with a B.S. in Business Administration from Northeastern University. |
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Cara CappelliniDirectorMs. Cappellini is a Director of Business Development at LibreMax Capital. Prior to joining the firm, she worked in Business Development at GoldenTree Asset Management where she focused on institutional investors based in North America. Prior to that, she worked at PAAMCO Prisma in their Investment Strategies Group. Ms. Cappellini started her career at Cambridge Associates working as an Investment Associate in their Endowment & Foundation practice group. She has a B.A. in Political Science from Bates College. |
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Zoe BallasAssociateMs. Ballas is an Associate in the Marketing & Investor Relations Group at LibreMax with a focus on client service. Prior to joining LibreMax in January 2024, she was an Audit and Assurance Senior at Deloitte, LLP from 2020-2023. Ms. Ballas holds a B.A. in Sociology & Business with a concentration in Accounting from Brandeis University (2020). |
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Ben AitkenheadProduct StrategistMr. Aitkenhead is a Product Strategist at LibreMax and a member of the Investment Committee. Prior to joining LibreMax in November 2023, Mr. Aitkenhead was Head of Private Placements at Pacific Oak Capital, a commercial real estate investment company, from 2017 to 2023, and a private investor in early-stage companies from 2012 to 2017. Prior to that, Mr. Aitkenhead was a Managing Director at Credit Suisse in New York where he worked from 1989 to 2012. He held a variety of positions at Credit Suisse including trading, origination and capital markets across structured products. He was Co-Head of Structured Products from 2004 to 2011 and a member of the Global Fixed Income Operating Committee from 2006 to 2011. Mr. Aitkenhead graduated from New York University with a Masters in Comparative Politics in 1989 and graduated from Oxford University with a BA in Philosophy, Politics and Economics in 1987. He is an Oxford Blue in soccer. He is an independent director on the board of PIMCO’s Private Credit and CRE funds, and previously served as an independent trustee on the board of Blackstone Real Estate Income Fund from 2013 to 2022. |
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Janae PaquetStrategic Projects and Operations ManagerMs. Paquet is a Strategic Projects and Operations Manager at LibreMax and is a member of the Firm’s ESG and DEI Committees and serves as the ESG Officer. Prior to joining LibreMax in March 2023, she was a Partnerships Project Manager at Pagaya (2022-2023). Previously, she worked at Gaine Technology as a Customer Success Manager from 2019 to 2022. Ms. Paquet also worked at Mindshare as an Associate Media Planner from 2017-2018. She has a B.A. in Legal Studies with a minor in French from the University of California, Berkeley (2016). |
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Frank BruttomessoChief Operating Officer and General CounselMr. Bruttomesso is a Partner and the Chief Operating Officer (“COO”) and General Counsel of LibreMax and is a member of its Investment, Risk Management, ESG, and Valuation Committees. Prior to joining LibreMax in October 2010, Mr. Bruttomesso was a Senior Vice President, Counsel and Assistant Secretary for AllianceBernstein L.P. where he headed the Alternative Investments and Derivative Contracts groups within the Legal and Compliance Department from 2001 to 2010. As the Head of the Alternative Investments group he was a key member in the creation and launch of AllianceBernstein’s fixed income, equity, commodity and currency based alternative investment products and served as a Director for AllianceBernstein’s Cayman Islands and Luxembourg domiciled hedge funds. Prior to joining AllianceBernstein, Mr. Bruttomesso was a First Vice President and Counsel of Morgan Stanley Investment Management where he worked as an attorney for the Morgan Stanley/Dean Witter family of registered mutual funds from 1996 to 1999. He began his career as a Corporate Attorney at Rogers and Wells LLP from 1993 to 1996. Mr. Bruttomesso received a B.A. from Yale University in 1990 and a cum laude JD from Brooklyn Law School in 1993 and is member of the New York State Bar since 1994. |
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Kenneth SeilerChief Compliance Officer & CounselMr. Seiler is the Chief Compliance Officer & Counsel at LibreMax. He is a member of the Risk Management, ESG and Valuation Committees. Prior to joining LibreMax in October 2023, he was Chief Compliance Officer & Counsel at Armistice Capital, LLC. Prior to that, he served as Senior Compliance Officer & Regulatory Counsel at Shenkman Capital, Inc. from 2018-2021. From 2012 to 2018, he served in various compliance and legal roles at hedge funds, ranging across the spectrum of asset classes and strategies, including structured credit, equities, and volatility. Mr. Seiler received a B.A. from Rutgers College in 2004 and a JD from Fordham University School of Law in 2009. |
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Dominick MazzitelliCIO and Head Portfolio Manager of TrimaranMr. Mazzitelli is the President, Chief Investment Officer (“CIO”) and Head Portfolio Manager of Trimaran and Trimaran Management and is responsible for the management and direction of their combined business activities, including portfolio management, investment research, portfolio analytics and operations, trading, structuring and marketing. Mr. Mazzitelli joined Trimaran Advisors in 2005 from Morgan Joseph & Co., where he was Vice President of high yield and distressed sales. Prior to joining Morgan Joseph, Mr. Mazzitelli had been employed as a senior research analyst within the Leveraged Finance and High Yield Group at CIBC World Markets Corp., where his industry coverage included the paper and forest products, packaging, and natural resources sectors. He began his career at Morgan Stanley, where he held a number of positions within the firm's fixed income sales and trading unit. Mr. Mazzitelli received a B.S. in Business Administration from the State University of New York at Albany, where he graduated cum laude, and his M.B.A. from the Leonard N. Stern School of Business at New York University. |
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David LakoffAssistant Portfolio Manager and Loan Trader - TrimaranMr. Lakoff rejoined Trimaran in 2016 after spending four years at a multi-strategy, credit-based hedge fund. Mr. Lakoff is an Assistant Portfolio Manager and serves as Trimaran’s primary trader of leveraged loans. He also follows the financials and real estate sectors. Mr. Lakoff previously worked at Trimaran from 2000 until 2012 and held a number of roles during his tenure, including assistant portfolio manager, credit analyst and trader. Prior to Trimaran, Mr. Lakoff was an analyst in the High Yield Research Group at Barclays Capital, specializing in the cable and theater industries. Prior to Barclays, Mr. Lakoff was a research analyst at Standard and Poor's where he participated in the rating of companies within the cable and wireless sectors, among others. He began his career at Salomon Smith Barney in the retail brokerage division. Mr. Lakoff received a B.S. degree in Business, with departmental honors, from Skidmore College. |
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Glenn Perillo, CFAChief Risk OfficerMr. Perillo is a Partner and the Chief Risk Officer (“CRO”) of LibreMax. He is the Chairman of LibreMax’s Risk Management Committee and a member of its Investment and Valuation Committees. Prior to joining LibreMax in April 2012, he was head of securitized products at Citadel Investment Group where he was responsible for managing portfolios of distressed RMBS. Throughout his three years at Citadel, Mr. Perillo was also responsible for development of Citadel’s mortgage credit models and valuation platform. Prior to joining Citadel, he was with the portfolio management group at BlackRock, where he specialized in managing RMBS for institutional clients. He also served as Head of Mortgage Research and Co-Head of Financial Modeling at BlackRock Solutions. He was with BlackRock for 10 years prior to joining Citadel. Previous to BlackRock, Mr. Perillo was Investment Vice President & Portfolio Manager at New York Life Insurance Company. A Chartered Financial Analyst (CFA) Charterholder, Mr. Perillo holds an MBA in Finance and an M.S. in Statistics and Operations Research from New York University (1996). He received a B.S. in Computer Engineering from the University of South Florida (1985). |
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Frank BruttomessoChief Operating Officer and General CounselMr. Bruttomesso is a Partner and the Chief Operating Officer (“COO”) and General Counsel of LibreMax and is a member of its Investment, Risk Management, ESG, and Valuation Committees. Prior to joining LibreMax in October 2010, Mr. Bruttomesso was a Senior Vice President, Counsel and Assistant Secretary for AllianceBernstein L.P. where he headed the Alternative Investments and Derivative Contracts groups within the Legal and Compliance Department from 2001 to 2010. As the Head of the Alternative Investments group he was a key member in the creation and launch of AllianceBernstein’s fixed income, equity, commodity and currency based alternative investment products and served as a Director for AllianceBernstein’s Cayman Islands and Luxembourg domiciled hedge funds. Prior to joining AllianceBernstein, Mr. Bruttomesso was a First Vice President and Counsel of Morgan Stanley Investment Management where he worked as an attorney for the Morgan Stanley/Dean Witter family of registered mutual funds from 1996 to 1999. He began his career as a Corporate Attorney at Rogers and Wells LLP from 1993 to 1996. Mr. Bruttomesso received a B.A. from Yale University in 1990 and a cum laude JD from Brooklyn Law School in 1993 and is member of the New York State Bar since 1994. |
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Ross Lesnick, CPAChief Financial OfficerMr. Lesnick is a Partner and the Chief Financial Officer (“CFO”) of LibreMax. He is Chairman of LibreMax’s Valuation Committee and a member of its Risk Management Committee. Prior to joining LibreMax in August 2012, he worked at Fir Tree Partners as the Assistant Controller, where he managed a team of five CPAs in performing all accounting functions for four master-feeder structures from 2008 to 2012. In addition, Mr. Lesnick co-chaired the Counterparty Credit Committee and was responsible for managing the prime broker and ISDA relationships at Fir Tree Partners. Prior to this, Mr. Lesnick was a Vice President at Ramius Capital Group, where he was a member of the Structured Products Investment Team responsible for accounting, operational and treasury functions for five CDOs and a hedge fund from 2006 to 2008. From 2003 to 2005, he was a financial associate in the Fund Accounting Group at Ramius Capital Group. Mr. Lesnick began his career in 2001 with Goldstein, Golub, and Kessler LLP, a mid-size public accounting firm, where he focused on the hedge fund industry. He graduated with a B.S. in Accounting from the University of Maryland, College Park and has been a licensed CPA in New York since 2003. |
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News & Insights
September 16, 2024
LibreMax Capital’s CIO Greg Lippmann On “The Big Short’s” Impact On Today’s Securitized Market
LibreMax Capital's Chief Investment Officer, Greg Lippmann, sat down with Keith Black of RIA Channel to discuss how the lessons from “The Big Short” continue to shape today’s securitized credit markets. In this insightful conversation, Greg dives into the evolution of regulations post-GFC and their impact on credit markets, opportunities in structured credit for today's investors and how LibreMax Capital helps clients navigate the evolving landscape.
Watch the full interview here
July 31, 2024
LibreMax Capital Partners with iCapital® to Expand Access to Securitized Products and Asset-Backed Finance
NEW YORK--(BUSINESS WIRE)--LibreMax Capital, LLC (“LibreMax”), an asset management firm specializing in securitized products and asset-backed finance, today announced that it has entered into a partnership with iCapital1, the global fintech platform driving the world’s alternative investment marketplace for the wealth management industry, to offer wealth managers and advisors globally access to LibreMax’s investment strategy via iCapital Marketplace.
Founded in 2010 by Chief Investment Officer Greg Lippmann, LibreMax is a $10.5 billion securitized credit specialist investing across both public and private markets. LibreMax invests across a broad range of securitized products including ABS, CLOs, Commercial, and Residential Assets.
“We are pleased to partner with iCapital to bring LibreMax’s investment strategy to a new cohort of investors seeking portfolio diversification. In today’s environment, we believe that securitized credit presents attractive fundamentals and value relative to high yield and investment grade corporate credit,” said Mr. Lippmann. “Securitized credit is a complex, high barrier to entry market that is well suited to those with the experience and access to data to effectively source, underwrite, execute, and manage such investments.”
iCapital Marketplace connects wealth managers with a broad selection of alternative investments from leading asset managers – all on one platform. iCapital’s technology and distribution helps top wealth managers deliver high-quality alternative investment opportunities to their clients with efficiency and ease.
“LibreMax is a leader in securitized credit investing, and we are thrilled to welcome the firm to the iCapital Marketplace,” said Dan Vene, Managing Director, Co-Founder and Co-Head of iCapital. “This partnership demonstrates our commitment to streamlining and simplifying access to alternatives and providing financial advisors with access to differentiated investment opportunities and expertise historically only available to institutions.”
About LibreMax Capital
Founded in 2010, LibreMax Capital, LLC is a New York-based asset management firm specializing in securitized products and asset-backed finance with $10.5 billion of assets under management. The firm manages both hedged and unhedged strategies across Evergreen Funds, Drawdown Vehicles, and Custom Solutions. To learn more, visit www.libremax.com.
1 iCapital, Inc. and its affiliates (together, “iCapital”)
Disclosures:
LibreMax Important Information
iCapital is not a current client of, or investor in a fund managed by, LibreMax. Although iCapital does not receive cash compensation in connection with providing this statement, iCapital is subject to certain material conflicts of interest due to its relationship with LibreMax, including that iCapital receives compensation from third parties in connection with investments they may make with LibreMax through the iCapital platform, which provides an incentive for iCapital to speak favorably about LibreMax.
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January 24, 2024
MarketWatch: Hedge fund bond star Greg Lippmann readies next big bet on commercial-property debt shunned by others
LibreMax Capital, LLC Chief Investment Officer and Managing Founding Partner Greg Lippmann recently spoke with MarketWatch regarding the current commercial real estate market and LibreMax’s approach to using proprietary data and analytics to uncover investment opportunities in CMBS.
Per the article: “'We think that in a lot of cases, this sector is being sold indiscriminately,’" Lippmann told MarketWatch about the commercial mortgage-backed securities market…. Like with once toxic subprime mortgage bonds, Lippmann anticipates higher recoveries in some commercial mortgage-backed securities than prices currently reflect.
Read the full story here (subscription may be required)
November 20, 2023
LibreMax Outlines Today’s Private Credit Market Opportunities
LibreMax Capital, LLC Chief Investment Officer, Greg Lippmann, and Head of ABS, Kevin Tyler, recently spoke with Alternatives Watch about LibreMax’s differentiated approach to private credit investing and how the firm sources and structures attractive opportunities across asset-based lending markets.
Read the full Q&A here
October 16, 2023
LibreMax Capital Has Been Shortlisted For This Year's Hedgeweek US Awards
LibreMax Capital, LLC is pleased to share that the firm has been selected as a finalist in the “Best Credit Hedge Over $1 Billion” category for the 2023 Hedgeweek US Awards. The annual awards recognize excellence among fund managers in the United States across a range of investment strategies. This achievement reflects the hard work and dedication of our team. Congratulations to all firms recognized.
The pre-selection data for the fund manager shortlisted was provided by Bloomberg. The hedge fund manager award categories include US-based single-manager and multi-manager hedge funds with a track record of more than 3 years and over $50 million (except the Smaller Hedge Fund Category, which can be up to $50m) in AuM. Nominations for all categories are based on annualized performance over a 12-month period from May 31st, 2022 to May 31st, 2023. Nominations in various award categories are further split by size and strategy as specified in the award name. Managers are only be considered for selection if they report performance data to Bloomberg.
Additional information, including the full list of categories, methodology and finalists, can be found here: https://awards.hedgeweek.com/us-awards
Past performance should not be construed as an indicator of future performance.
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October 03, 2023
LibreMax Employees Participate in Habitat Net Zero Project
download PDFThank you LibreMax Capital for helping us get our Net Zero homes in tip top shape—just in time for the marketing period! This Net Zero home now has a fresh, clean yard that is ready for planting for its future homeowners. 🏠♻#corporatevolunteering #volunteerwithus pic.twitter.com/xxPZjPh8fj
— Habitat NYC and Westchester (@HabitatNYC_WC) November 7, 2023
September 27, 2023
LibreMax CIO Greg Lippmann Discusses Building Portfolios Resilient to High Rates
LibreMax Capital, LLC Chief Investment Officer and Managing Founding Partner Greg Lippmann joined Alix Steel on Bloomberg TV to discuss the outlook for the U.S. consumer versus U.S. corporates, investment opportunities in structured products, and building resilient portfolios amid higher interest rates and a potential economic downturn.
Watch the full interview here: https://www.bloomberg.com/news/videos/2023-09-28/libremax-s-lippmann-on-how-to-build-a-portfolio-video
And read more here (subscription required): https://www.bloomberg.com/news/articles/2023-09-27/libremax-s-lippmann-building-portfolios-resilient-to-high-rates
July 11, 2023
Dominick Mazzitelli and Nirjhar Jain Share Perspective on Current Leveraged Loan and CLO Markets
Nirjhar Jain, Sector Head of CLOs at LibreMax Capital, LLC, and Dominick Mazzitelli, CIO and Head Portfolio Manager of LibreMax’s CLO management business, Trimaran Advisors, recently spoke with Glen Fest of Pitchbook’s Leveraged Commentary & Data (LCD) to share their perspectives on the current dynamics of the leveraged loan market and outlook for CLO market activity in the remainder of the year and beyond.
Read the story here (subscription required): https://www.lcdcomps.com/lcd/n/article.html?aid=12504245&rid=0
June 07, 2023
LibreMax Capital CIO Greg Lippmann at MacroMinds Investment Symposium: 25 Years Post LTCM: Reflections on Crisis Risk Management
This website does not constitute an offer to sell, or a solicitation of an offer to buy or sell, any security, investment or other financial product, and is intended for informational purposes only. Any such offer or solicitation will be made only by means of the Confidential Private Offering Memorandum relating to the particular fund. Access to information about the funds is limited to investors who, among other requirements, either qualify as accredited investors within the meaning of the Securities Act of 1933, as amended, or those investors who generally are sophisticated in financial matters, such that they are capable of evaluating the merits and risks of prospective investments. The contents of the website may contain forward looking statements that are based on management’s beliefs, assumptions, current expectations, estimates, and projections about the financial industry, the economy, LibreMax Capital itself or its investments. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward looking statements. Furthermore, LibreMax Capital undertakes no obligation to update, amend or clarify forward looking statements, whether as a result of new information, future events or otherwise.
The Recording Can Be Accessed Here
June 02, 2023
LibreMax CIO Greg Lippmann Sees Biggest Structured Credit Opportunity of Decade
LibreMax Capital, LLC Chief Investment Officer Greg Lippmann recently shared his views with Carmen Arroyo Nieto of Bloomberg on the investment landscape across structured credit markets, opportunities in CMBS and CLO tranches, and the regional banking crisis’ contribution to the continued growth of private credit.
Read the full Q&A here (subscription may be required): https://news.bloomberglaw.com/private-equity/lippmann-sees-biggest-structured-credit-opportunity-of-decade.
June 01, 2023
CLO Insight: Q&A with LibreMax’s Dominick Mazzitelli and Nirjhar Jain - Inflows for Distressed CLO Trading to Rise with Dispersion
Dominick Mazzitelli, CIO and Head Portfolio Manager of Trimaran Advisors, LibreMax Capital, LLC’s CLO management business, and Nirjhar Jain, Sector Head of CLOs at LibreMax, recently spoke with David Graubard at LevFin Insights, to discuss the state of, and outlook for, the CLO asset class and investment opportunities in primary and secondary markets.
download PDFNovember 03, 2022
LibreMax CIO Greg Lippmann Speaks at Forbes Iconoclast Summit
LibreMax Capital, LLC Chief Investment Officer Greg Lippmann recently joined the inaugural Forbes Iconoclast Summit to discuss credit opportunities created by monetary and fiscal policy, outlook for the U.S. consumer, and how today’s market environment compares to prior cycles.
Read more in Forbes here: https://www.forbes.com/sites/emilymason/2022/11/03/the-big-short-inspiration-lippmann-having-deja-vu-of-2002/?sh=9b546a4aa357
and Business Insider here: https://www.businessinsider.com/how-to-invest-big-short-trader-greg-lippmann-investors-missing-2022-11
September 12, 2022
Capital Allocators – Inside the Institutional Investment Industry – Podcast “Greg Lippmann – the Big Short and Structured Credit at LibreMax Capital"
LibreMax's Chief Investment Officer, Greg Lippmann, joined Capital Allocators to discuss his background, investment strategy, research process, portfolio construction, trading, competitive landscape, and market outlook. The podcast can be accessed here
This podcast contains general information about LibreMax Capital, LLC (“LibreMax”). While all the information prepared in this podcast is believed to be accurate, LibreMax makes no express warranty as to the completeness or accuracy of such information, nor can it accept any responsibility to update errors appearing in the podcast.
Capital Allocators with Ted Seides (“Capital Allocators”) is an independent pod cast series that explores best practices in the asset management industry. Capital Allocators has not been engaged by LibreMax to act in any capacity, including as an arranger or placement agent in connection with the any fund or products described therein or offered or managed by LibreMax. Capital Allocators is not a client of or investor in LibreMax’s funds. Capital Allocators does not earn any compensation in connection with the sale or placement of any LibreMax funds. LibreMax is not aware of any conflicts of interest between Capital Allocators and LibreMax.
November 04, 2021
LibreMax Employees Participate in Habitat for Humanity Net Zero Project in Queens
On November 4, 2021, LibreMax employees participated in Habitat for Humanity's Net Zero Project. The Project is aimed at renovating a portfolio of 16 single family homes leveraging the power of renewable energy to decrease energy costs and greenhouse gas emissions.
read moreOctober 05, 2021
LibreMax Capital Raises $225 Million for Structured Opportunities Fund
NEW YORK--(BUSINESS WIRE)--LibreMax Capital, LLC announced the successful closing of its fifth drawdown vehicle, LibreMax Structured Opportunities Partners I, LP, with total capital commitments of approximately $225 million.
read moreSeptember 15, 2021
LibreMax Launches New Fund Devoted to ESG Structured Debt
(Bloomberg) -- LibreMax Capital has raised $325 million for a new fund devoted to asset-backed securities and other structured debt designed to make the world a better place, making it the latest firm to bet on the growth of the market for sustainable investing.
download PDFMarch 22, 2021
LibreMax CAO Gloria Radeff and Director of Business Development Emily Fritz Named to Crain's Notable Women on Wall Street
LibreMax is pleased to announce that Chief Administrative Officer and Partner Gloria Radeff, and Director of Business Development Emily Fritz, have been named to Crain's New York Business 2021 Notable Women on Wall Street.
download PDFNovember 13, 2020
LibreMax CAO Gloria Radeff Named to 50 Leading Women in Hedge Funds 2020
LibreMax is pleased to announce that Chief Administrative Officer and Partner Gloria Radeff has been named as one of the “50 Leading Women in Hedge Funds 2020” by The Hedge Fund Journal in association with Ernst & Young. You can view the full article here: https://thehedgefundjournal.com/50-leading-women-in-hedge-funds-2020/
download PDFDecember 30, 2019
LibreMax Capital and Credit Suisse Provide Revolving Asset-Based Loan Facility to Sunnova to Fund Continued Growth in Residential Solar
On December 30, 2019, Sunnova Energy International Inc. (NYSE: NOVA) announced it closed an approximately $95 million revolving asset-based loan facility with affiliates of Credit Suisse (NYSE: CS) and LibreMax Capital, LLC. The equipment facility’s commitments may be increased to approximately $138 million, subject to lender consent.
read moreApril 08, 2019
LibreMax Wins Private Equity Backing for CLO Venture
LibreMax Capital, LLC (“LibreMax”), an asset management firm specializing in structured products and corporate credit, today announced the establishment of CAVU Investment Partners, LLC (“CAVU”).
read moreJanuary 23, 2019
LibreMax Capital Provides Credit Facility to PosiGen, the Nation's Leading Provider of Renewable Energy and Efficiency Solutions for Low-to-Moderate Income Households
PosiGen, the nation's leading provider of renewable energy and efficiency solutions for low-to-moderate income households, is pleased to announce a credit facility structured and provided by LibreMax Capital, a New York based asset management firm, in conjunction with the Connecticut Green Bank, the nation's first green bank, and Inclusive Prosperity Capital, a new not-for-profit clean energy investment fund sparked by the Connecticut Green Bank.
read moreNovember 09, 2018
LibreMax Capital Acquires Trimaran Advisors
LibreMax Capital, LLC (“LibreMax”), an asset management firm specializing in structured credit, today announced that an affiliate has entered into a definitive agreement to acquire Trimaran Advisors.
read moreOctober 11, 2018
Neuberger Berman’s Dyal Capital Takes Minority Stake in LibreMax
Neuberger Berman Group’s Dyal Capital, which buys stakes in alternative-asset managers, took a minority position in the $3 billion hedge fund firm LibreMax Capital.
read moreMay 02, 2018
Greg Lippmann Interview at Milken Conference
Greg Lippmann, who helped design the trade against subprime mortgages that became known as the Big Short, says the next financial tremors will come from corporate debt.
read moreJuly 30, 2024
LibreMax's View on Single Asset Single Borrower (SASB) CMBS
Concerns regarding the stability of Single Asset Single Borrower (SASB) CMBS are making waves. Does this signal a broader issue or a reaffirmation of SASB's unique strengths? Read our perspective below.
April 25, 2024
LibreMax's View on the Health of the Consumer
Delinquencies in credit cards and autos have been increasing. Related media coverage often includes an alarmist “highest since the GFC” reference. Are ABS structures designed to withstand current delinquencies? And are current delinquencies a sign that robust consumer credit performance is under threat? Read our perspective below.
March 26, 2024
LibreMax's View on Home Equity Lending
With the rise in home equity lending volumes, one might wonder if this trend is cause for concern or if we are on the cusp of a revolution in US housing finance. Read on for our perspective.
February 28, 2024
LibreMax's View on the State of the Rental Housing Market
What is the state of the rental housing market? Multifamily issues are in the news. Blackstone announced a $3.5BN Single-Family Rental (SFR) acquisition. Rental growth is falling, contributing to disinflation. Read our perspective below.
January 30, 2024
LibreMax's View on CRE and Commercial Banks
Could $3 trillion in CRE exposure at commercial banks lead to disorderly management of bank CRE holdings adding further stress to the CRE industry? Read our perspective below.
Contact Us
LibreMax Capital, LLC
601 Lexington Avenue, 30th Floor
New York, NY 10022
212-612-1550
For career inquiries, please contact info@libremax.com
For investment inquiries, please contact IR@libremax.com
1Information is unaudited and estimated as of February 1, 2025 and is adjusted to include Trimaran CAVU 2025-1 Ltd., a $500 million CLO that priced on January 30, 2025 and is expected to close on or about March 12, 2025.
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