Episodes
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Drew Holley, Managing Partner of BIS Benefits, emphasizes the critical importance of employee benefits and health insurance in today's competitive business landscape, where retaining top talent is paramount. With a focus on serving clients with excellence, BIS Benefits has evolved into a one-stop shop for group health and business insurance since its inception in 1997. Drew shared how investing in growing and developing people and the organizational focus on mission, vision, and core values at BIS has allowed the firm to grow significantly. Drew shares insights on the growing need for businesses to review and adapt their insurance strategies, start the renewal process early, especially in a time of rising costs and changing market dynamics, and work with a trusted advisor. He highlights the significance of fostering strong relationships between business owners and their insurance advisors, ensuring proactive communication and support during critical moments. Listeners will gain valuable advice on navigating the complexities of employee benefits and the impact of proper coverage on workforce satisfaction and retention.
Takeaways:
Understanding the true costs of health insurance is essential for business owners today. Drew explains that affordability of healthcare plans directly impacts employee satisfaction and retention. People are everything to a business and by far the most critical asset. One of the most important factors employers can easily overlook is the importance of employee benefits.The insurance industry is evolving, with technology playing a crucial role in operations. More private equity has entered the space than ever before on both the brokerage and client side.BIS Benefits focuses on building relationships and providing exceptional service to their clients. Becoming the trusted advisor transforming each organization's approach, design and implementation of healthcare is the vision of BISBIS seeks to be a place where growth on the professional and personal level can take place and puts a significant emphasis on community, giving back, family, and moreHiring for values and personality fit is more important than industry experience in the insurance field.Links referenced in this episode:
bisbenefits.comCompanies mentioned in this episode:
BIS Benefits State Farm Liberty Mutual Blue Cross Aetna United Travelers Hartford Innovative Outsourcing United Benefit Advisors
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Unlocking financial value through alternative credit is a central theme in this engaging conversation with Sreeni Prabhu, co-founder, Managing Partner, Co-CEO, and Group Chief Investment Officer at Angel Oak Capital. With a keen focus on the structured credit space, Sreeni discusses how Angel Oak, one of the largest securitizers of non-qualified mortgages in the nation, skillfully navigates market dynamics to create strategic long-term value for investors. He highlights the current opportunity in mortgage-backed securities (MBS), as inflation stabilizes and interest rates are expected to decline, presenting a historic chance to enhance fixed-income allocations. Furthermore, Sreeni elaborates on the burgeoning second lien mortgage market, emphasizing the significant equity homeowners possess and the untapped potential for strategic financing solutions. Through this episode, listeners will gain insights into the evolving landscape of fixed income and the innovative approaches that Angel Oak employs to meet the needs of both institutional and individual investors.
Sreeni Prabhu, co-founder, Managing Partner, Co-CEO and Group Chief Investment Officer of Angel Oak Capital, shares his insights on alternative credit and the unique opportunities within the non-qualified mortgage sector during his conversation with ATLalts host and creator Andres Sandate. Beginning with his personal journey, Srinivas recounts his transition from a tennis player in India to a prominent figure in finance, highlighting the importance of networking, resilience, and a willingness to pursue an unconventional path. He emphasizes Angel Oak's strategic positioning as a leader in the mortgage-backed securities market, particularly in non-QM loans, and how the firm's comprehensive investment platform creates long-term value for its clients.
As the discussion progresses, Sreeni delves into the current economic landscape, noting the potential for fixed-income investments amid declining interest rates and controlled inflation. He points out that mortgage-backed securities are trading at historically attractive spreads, presenting a compelling case for investors. The conversation underscores the significance of education in the financial sector, with Sreeni advocating for transparency and trust-building between Angel Oak and its clients. This commitment to educating advisors and investors is a cornerstone of the firm's strategy.
The episode also explores the emerging second lien mortgage market, where homeowners can leverage their home equity for various financial needs. Sreeni highlights the substantial addressable market, estimated at $1.6 trillion, and discusses how Angel Oak is prepared to meet this demand with innovative financial products. As the episode concludes, Sreeni shares his vision for the future of Angel Oak Capital, emphasizing the need for a patient, long-term approach to investing in the ever-evolving financial landscape.
Takeaways:
Sreeni Prabhu's journey from India to Milledgeville, GA to leading a $20 billion asset management firm is inspiring for anyone pursuing their professional and personal interests, regardless of industry or career. Angel Oak's unique position in the mortgage-backed securities market offers compelling investment opportunities. The firm emphasizes a long-term perspective, focusing on sustainable growth and risk management. Understanding the second lien mortgage market can provide valuable insights for financial advisors. Investing in non-qualified mortgages offers significant potential returns in the current economic climate. Angel Oak's commitment to education and transparency enhances relationships with investors and advisors.Links referenced in this episode:
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Missing episodes?
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Jay Jackson, Chairman & CEO of Abacus Life (NASDAQ: ABL) joined ATLalts today to discuss life settlements. Jay has deep expertise in alternative assets and leads a company that has purchased over $4.6 billion in life insurance policies and helped thousands of policy holders maximize their value. Jay is a life settlements industry trailblazer as Abacus Life is the ONLY pure play, publicly traded life settlement company. Abacus recently acquired Carlisle Management Company for $200 million, making ABL the largest life settlement company in the world. On August 7, 2024 Abacus announced the acquisition of FCF Advisors. Press release below:
https://www.globenewswire.com/news-release/2024/08/07/2926361/0/en/Abacus-Life-Announces-Agreement-to-Acquire-FCF-Advisors.html
Finally, Jay is an innovative thought leader and a contributing author of ‘Pursuing Wealthspan,’ a book that discusses how individual lifespan affects wealth, and recently hosted a longevity summit that brought together some of the top minds in the industry. To learn more about Abacus Life you can visit the company's website at: https://abacuslifesettlements.com/
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Marissa Kim is Head of Asset Management at Abra Capital Management (ACM), a SEC-registered investment advisor and subsidiary of Abra, a global platform for digital asset prime services and wealth management. In April 2024, Abra announced the launch of Abra Private (led by Marissa), which provides HNWIs, financial advisors, trusts, and family offices with a comprehensive suite of digital asset & wealth management solutions (all of which are powered by their expertise in DeFi – a key differentiator of the firm:
Trade & Invest
Clients can buy and sell 100+ digital assets with deep liquidity and low slippage through Abra including both crypto/fiat and crypto/crypto pairs
Earn Yield
Abra offers a variable yield on BTC, ETH, SOL and stablecoins through separately managed accounts (SMAs).
Borrow
Clients can borrow against their digital asset collateral to unlock liquidity.
Customized Investment Strategies
For more sophisticated clients, Abra can create customized delta-neutral portfolio strategies combining DeFi trading, lending and market-making.
Abra’s RIA operates a separately managed account model, this is crucial for transparency and security, as clients are not liabilities on Abra’s balance sheet, and they retain title to their assets (i.e. they are never commingled – which has been a historic issue in crypto).
Before Abra, Marissa founded Quantum Global Management, an investment firm focused on thematic investment in the building blocks of Web 3 and lending and DeFi strategies in digital assets and cofounded Ark Advisors, an advisory and investment firm focused on the digital asset space.
Many HNWIs and accredited investors investing in crypto either hold bitcoin/ether or the spot ETFs, however, Abra Private is trying to educate sophisticated investors on how DeFi is powering a holistic set of asset and wealth management solutions that are better suited to the needs of sophisticated investors.
Firm Summary
Abra is a global platform for digital asset prime services and wealth management, leveraging trusted DeFi expertise to connect the on-chain and off-chain ecosystems for private clients and institutions. By integrating trading, borrowing, lending, yield services, and asset management into one offering, all underpinned by institutional risk management, Abra provides clients with actionable insights and a competitive edge. Abra’s client base includes a diverse range of private clients, family offices, hedge funds, venture capital, and crypto infrastructure firms.
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Crystal Capital Partners is a portfolio-centric alternative investment platform allowing financial advisors to seamlessly customize portfolios of industry-leading alternative investment funds with low minimums and operational simplicity.
Alan Strauss joined me to discuss the evolution of Crystal Capital Partners, how the firm partners with financial advisors and wealth management professionals to construct portfolios for discerning accredited investors and qualified purchasers, and where advisors are currently looking for exposures.
Crystal Capital Partners has more than 30 years of alternative investment experience, works with 200+ financial advisory firms, has created 500+ bespoke portfolios through their platform and has a curated roster of 50 private equity, private credit, venture capital, and hedge fund offerings available to clients.
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Howard Abrahams is an entrepreneur and founder of Morewood Funding, which handles complex situations for companies looking for debt financing and loans. After earning his BA from Binghamton University and Juris Doctorate from the Benjamin Cardozo School of Law, he spent 25 years on Wall Street at major investment firms like MAN Group working with complex investment strategies.
Morewood Funding helps businesses access capital when conventional lenders can't or won't lend. Howard helps companies secure loans ranging in size from $100,000 to $10,000,000. Companies seeking one or more of the following are typical clients of Morewood: purchase order financing, inventory financing, direct-to-consumer inventory financing, accounts receivable financing, lines of credit, term loans, SBA loans, startup loans, CRE loans, equipment financing, RIA loans for acquisitions and working capital, and acquisition financing.
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Ron Geffner, Partner, Sadis
Ron is a founding member of the firm’s Executive Committee and also oversees the Financial Services group. He regularly structures, organizes and counsels private investment vehicles, investment advisory organizations, broker-dealers, commodity pool operators and other investment fiduciaries. Ron also routinely counsels clients in connection with regulatory investigations and actions. His broad background with federal and state securities laws, and the rules, regulations and customary practices of the SEC, Financial Industry Regulatory Authority, Commodities Futures Trading Commission and various other regulatory bodies, enables him to provide strategic guidance to a diverse clientele. He provides legal services to hundreds of hedge funds, private equity funds and venture capital funds organized in the United States and offshore.
Ron began his legal career with the SEC, where he investigated and prosecuted violations of the federal securities laws with an emphasis on enforcement in connection with violations of the Investment Advisers Act of 1940 and the Investment Company Act of 1940. He also assisted federal and state criminal agencies, such as the Federal Bureau of Investigation, the U.S. Attorney’s Office and the Attorney General’s Office, in their investigations of possible criminal violations of federal and state securities laws.
Prior to starting Sadis & Goldberg, Ron was associated with two other New York City-based law firms, where he represented domestic and offshore private investment vehicles, as well as broker-dealers, registered investment advisers and registered investment companies.
He began his corporate legal career as in-house counsel in the Investment Management Industry Services group of PricewaterhouseCoopers LLP, where he provided legal advice regarding investment advisers, registered investment companies and broker-dealers.
Ron is often interviewed as a legal expert in the securities industry. He has appeared on Fox News, CBS Morning Show, CBS Evening News with Dan Rather, Squawk Box, Power Lunch and Closing Bell on CNBC, British Broadcasting Channel and Bloomberg Radio. He is regularly quoted in The New York Times, The Wall Street Journal, Bloomberg News, Barron’s, Barron’s Online, Reuters, Dow Jones, Financial Times, New York Newsday, London Daily News, TheStreet.com, Private Equity Week and other national and international publications.
https://www.sadis.com/professionals/ron-s-geffner
https://www.linkedin.com/in/rgeffner/
Robert Swarthout, Founder, CEO, and Portfolio Manager of Teton Crypto Capital
Robert, the Founder, CEO & Portfolio Manager of TCC, is a cryptocurrency veteran. He has been investing in the cryptocurrency space for over five years with a full-time focus for over three years. He is a calculated investor that understands that this new emerging market is a marathon rather than a sprint. By taking the long view he focuses on the tokens that will solve large problems over the long term rather than the flavor of the current news cycle.
In the first chapter of Robert’s career, he founded and sold two software businesses. The most recent venture (ShootProof.com) is a SaaS business that enables professional wedding and portrait photographers to serve their clients better. He co-founded ShootProof in 2009 and grew it to 43 employees, 43,000+ paying customers and $10M+ in annual recurring revenue, all with no outside funding. Being a multi-time founder, he is experienced in starting and scaling businesses and teams. He prides himself on building teams that thrive on adjusting to challenges in front of them. As of late 2018, a private equity group took a controlling interest in ShootProof.
https://www.linkedin.com/in/robertswarthout/
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XAI is focused on closed-end funds and helps clients build permanent capital vehicles including U.S. Listed CEFs, Interval Funds, CEF/REITs, London Listed Investment Companies, Tender Offer Funds and Auction Funds. XAI Consulting clients leverage XA's experienced team to launch innovative closed-end funds (CEFs) in traditional and alternative asset classes. In this interview, Kimberly and I walk through a typical client's feasibility assessment step-by-step before launching a CEF.
Kimberly Ann Flynn is a Managing Director at XA Investments. She is a partner in the firm and is responsible for all product and business development activities. Kim is responsible for the firm's proprietary fund platform and consulting practice. Kim has developed an expertise in closed-end fund product development and is a frequent contributor to media and industry events on topics including interval funds, alternative investments and London-listed investment companies. Kim has earned the CFA designation and is a member of the CFA Institute and CFA Society Chicago. She is also Series 7, 63 and 24 licensed.
Previously, Kim was Senior Vice President and Head of Product Development for Nuveen Investments' Global Structured Products Group. In her 11 years at Nuveen, she helped develop over 40 closed-end funds, raising approximately $13 billion in capital. In her leadership role at Nuveen, Kim was responsible for asset-raising activities through the development of new, traditional, and alternative investment funds, including CEFs, ETFs, UITs, and commodity pools.
Kim received her MBA degree from Harvard University, where she was a William J. Carey scholar and President of the HBS Volunteers. Before attending Harvard Business School, Kim spent three years working in Morgan Stanley's Investment Banking Division (1999-2002) in their Chicago office. She earned her BBA in Finance and Business Economics, summa cum laude, from the University of Notre Dame in 1999 where she was a valedictorian candidate, Rhodes Scholar finalist and the first recipient of the Paul F. Conway Award, given to a senior in the Department of Finance who embodies Notre Dame's tradition of excellence and who enriches the ideals of the university.
Kim was recently selected to serve on the Notre Dame Wall Street leadership committee. She also serves on the board of the Women in ETFs Chicago chapter as Head of the Mentorship Committee and on the advisory board of Youth Guidance's Becoming A Man program. She is an active member of the University Club of Chicago and the Harvard Club of New York City, where she conducts regular business. Kim and her family - husband, Leo; son, Teddy; and daughter, Rose - live in Lincoln Park.
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My guest on ATLalts was Chief Investment Officer and Co-founder of Three Bulls Capital LLC Michael Liss.Three Bulls Capital is a real estate investment company focused on a community-driven investing approach to single family housing in former textile milling towns in Georgia.Three Bulls Capital focuses specifically on Middle Georgia communities where it can revitalize workforce housing neighborhoods through a sustainable model of secondary/tertiary market investments, self-management and a focused ESG component.Eventually the team plans to extend their platform to additional former textile milling towns throughout the Southeastern U.S.Middle Georgia has benefited from statewide efforts to develop new industry and Foreign Direct Investment (FDI) in these communities that have sticky populations but also are attracting newcomers seeking quality jobsMiddle Georgia markets where Three Bulls Capital is most active sit along Interstate 75 and among major transportation arteries including the Atlanta Airport and the Port of Savannah Three Bulls Capital collaborates with city officials, employers, and other key stakeholders seeking to uplift neighborhoods and renovate historic SFR housingThree Bulls Capital differentiates itself by creating clusters of renovated properties, driving positive change in neighborhoods. SFR investing has evolved from buying cheap assets to generating cash and achieving efficiencies through scale.Three Bulls Capital operates in SFR 4.0, focusing on community-driven investing and revitalizing former mill towns to create communities that can thrive again.Their investment model aims to provide quality workforce housing, drive value at a community level, and promote home ownership.Buying right, managing costs, and maintaining high standards are crucial for uplifting neighborhoods and creating positive social impact.
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Robert Swarthout's LinkedIn Bio
Robert Swarthout has founded multiple technology companies during his career and his latest venture is running an investment firm called Teton Crypto Capital. Teton is focused on commercial utility in the alternative token marketplace. As one of the few managers running a digital assets firm who probably doesn't own Bitcoin or Ethereum, to call Robert a contrarian is perhaps an understatement.
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Cascade is a fintech platform democratizing access to institutional debt. Co-Founder & CEO Mike Shum and Co-Founder and COO Kyle Meade built a platform to help companies streamline complicated and time-consuming debt processes. Whether raising debt for the first time, or already using multiple debt facilities, Cascade can help.
Cascade website
Mike Shum's LinkedIn
On this episode of ATLalts, Mike Shum, the Co-Founder and CEO of Cascade, shares his journey and the mission of the company. Mike discusses the challenges in the private debt market and how Cascade is building solutions to simplify and streamline the process. Mike also provides insights on preparing for accessing institutional debt and the importance of the structuring phase in the debt raise process. In this conversation with ATLalts host Andres Sandate Mike discusses the importance of valuation and terms in debt financing. Mike emphasizes that price and size are not the primary concerns for early-stage founders, but rather factors such as leverage and flexibility should get more attention. Mike explains that interest rate is just one component of a term sheet and that founders should consider other factors like upfront fees and unused capital fees. Mike highlights the significance of eligibility criteria and concentration limits. Mike discusses the monitoring and compliance aspect of debt deals, emphasizing the need for accurate and real-time reporting. Mike concludes by explaining how Cascade provides solutions for asset managers in the private credit space and shares the company's vision for the future.
Takeaways
Price and size are not the primary concerns in debt financing; factors like leverage and flexibility are important considerations as well, particularly for early-stage companies.Interest rate is just one component of a term sheet; founders should consider other factors like upfront fees and unused capital fees.Eligibility criteria and concentration limits are crucial aspects of debt deals that often get overlooked by founders who prioritize price and size.Accurate data and real-time monitoring and compliance are essential for successful debt deals.Cascade provides solutions for asset managers in the private credit space and aims to streamline the debt management process.The private credit market is growing rapidly, and Cascade envisions becoming a one-stop shop for managing all aspects of the debt stack.
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Trilogy Investment Co website
Jason Joseph Bio
Jason Joseph LinkedIn
Link to First Interview with Jason Joseph on ATLalts in 2021
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Michael Maroon's LinkedIn page
Glasfunds website
GLASfunds offers a digital and operational access point, bringing research, sourcing and reporting under one roof, driven by the idea that alternative investing should be streamlined yet customizable.
From finding the ideal investment manager to receiving consolidated reporting through its best-in-class organizational framework, the GLASfunds platform offers a comprehensive playing field for the active advisor or institutional investor all for a single management fee.
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17 Things to consider as you originate your first loans and begin building a tapeCheck out the Specialty Finance Blog at Sandate.Substack.comHost Andres Sandate email [email protected] - @aesandateLinkedIn - https://www.linkedin.com/in/sandate/www.endurancestrategies.com
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Subscribe to the Specialty Finance and Fintech Lending blog at sandate.substack.com
The Blog contains all links referenced in the episode
E-mail me at [email protected]
Follow me on X at @aesandate
Follow me on LinkedIn at https://www.linkedin.com/in/sandate/
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Check out my new blog on Specialty Finance and Fintech Lending
sandate.substack.com
Email me at [email protected]
Follow me on X at @aesandate
Follow me on LinkedIn at https://www.linkedin.com/in/sandate/
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MrPink is a seed stage VC Fund focused exclusively on making investments in CAPUC (Chile, Argentina, Peru, Uruguay and Colombia).
Hernan Haro LinkedIn Page
Hernan can be contacted at [email protected]
MrPink Website English
MrPink Website Spanish
MrPink LinkedIn Company Page
Hernan Haro Twitter
Talks about #capuc #latam #seedstage #vcfunding #entrepreneurship
Hernan is a tech entrepreneur and Founding Partner of MrPink. As an entrepreneur, he ran operations for Pulpo Media, a California-based startup until its successful exit to Entravision. At ConsumerAffairs, he built the Data and Analytics team from scratch before running Finance and Growth. Over the past decade, Hernan has advised founders and been making angel investments in the region. Hernan earned his MBA from UC Berkeley (2010) as well as his MSc in Industrial Engineering from ITBA (2001) and BS in Computer Science (1997) from ORT.
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Robert Swarthout LinkedIn
Robert Swarthout's Podcast on Crypto
Mentioned in the podcast:
Ripple
Quant
WSJ Crypto Newsletter
CoinDesk
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Soteria Capital website
Soteria Capital blog
Difference between fund structures in life settlements
Michael J. Bradburn LinkedIn Profile
Jason Bokina LinkedIn Profile
E-mail [email protected]
Jason A. Bokina, Chief Operating Officer, Soteria Capital, Telephone 404-502-5525
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1776ing Website
Sean's LinkedIn Profile
Sean's E-mail
The 1776ing platform enables accredited investors and institutions, in collaboration with their trusted advisors, to seek out, evaluate, diligence and then invest in opportunities to grow their wealth.
1776ing: (verb) - Taking action to create one's one wealth and prosperity
1776ing Sponsors are empowered through our tools to present their offerings to more investors and their advisors. We’ve created a compliant, frictionless and robust offering process while ensuring that investors and their advisors can evaluate, perform due diligence and invest.1776ing is an online platform business designed to become integral and invaluable to the capital raising community as well as to investment advisors and accredited investors who seek alternative investments.
1776ing built this tool, not as a competitor for each side of an investment offering, but to address the private equity and debt needs of existing businesses that seek capital for:
Growth.Partner transitions.Financing needs.Liquidity.Recapitalizations and more.1776ing enables accredited investors, their advisors, other institutional investors to seek out, evaluate, research and then invest in:
Offerings across the capital stack.Funds and Direct Listings from Sponsors and Issuers.
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