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The ELFA Team

OUR LEADERSHIP

ELFA is guided by the expertise of our Board and Management Committees, comprised of senior members within our member firms, and our Independent Board Chair. Our work is coordinated by our Chief Executive Officer, Sabrina Fox.

Sabrina Fox
Chief Executive Officer

Sabrina is a recognised expert in the European leveraged finance market focused on increasing transp...

Sabrina is a recognised expert in the European leveraged finance market focused on increasing transparency, improving disclosure standards, and educating market participants on the importance of lender protections in documentation. Most recently, Sabrina was Head of European High Yield Research for Covenant Review. Prior to that, she was Counsel with DLA Piper in London.

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Michael Dolan
Independent Chair of the Board

Michael Dolan became Independent Chair of the Board in January 2024. He has more than 25 years’ ex...

Michael Dolan became Independent Chair of the Board in January 2024. He has more than 25 years’ experience in credit research on the buy side and sell side with experience of IG, HY and EM across many corporate sectors. Before recently retiring, Michael worked at Fidelity International in London. From June 2017 until October 2023, he was Director of Research, managing two teams of high-performing credit analysts. He maintained research responsibilities for the Chemicals sector in Europe and the US and led various research management projects. Before this, he spent 14 years with the firm as a Senior Credit Analyst. He has covered most corporate sectors across Europe, US, and some emerging markets. He specialised in cyclical industrials and basic materials, and coverage comprised investment grade, high yield, some emerging markets and distressed. In the latter part of this period, he was also co-PM on a cross capital structure fund call SharpeR; one of Fidelity’s first forays in to the absolute return space. Before joining Fidelity, Michael was a Principal in Credit Research at Banc of America Securities Limited, London between April 2000 and May 2003. He covered the European investment grade Utilities and Energy sectors. He was one of the initial hires when BAC began building out its European fixed income business and played a critical role in developing the research platform. He previously held roles in Credit Research at Credit Suisse First Boston, London for approximately three years and at Nikko Europe Securities, London where he was hired to set up a Credit Research function. Michael started his career in finance with Manufacturers Hanover/Chemical Bank/Chase Manhattan Bank, London.

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Gladys Asogbon
Director of Engagement & Regulatory Affairs

Gladys leads on ELFA’s policy initiatives, collaborating with members and stakeholders. She has an...

Gladys leads on ELFA’s policy initiatives, collaborating with members and stakeholders. She has an extensive background in financial services regulation and compliance. Gladys joined ELFA following 12 years at the Financial Conduct Authority, where she worked on various policy initiatives and from her more recent compliance role at Bank of Montreal Capital Markets.

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Emma Kearney
Director of Operations

Emma joined ELFA in August 2022. She manages the day-to-day operations and provides support to our t...

Emma joined ELFA in August 2022. She manages the day-to-day operations and provides support to our team, our members and our partners. Before joining ELFA, Emma worked at Euromoney for several years, in both operations and events at senior levels.

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Aditi Chincholi
Research Analyst

Aditi is a full-time Research Analyst responsible for supporting the committees with their work. She...

Aditi is a full-time Research Analyst responsible for supporting the committees with their work. She is due to graduate from the London School of Economics and Political Science with a master’s in Finance and is working towards her CFA charter.

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Sedem Okpattah
Research Analyst

Sedem is a full-time Research Analyst on his placement year from the University of Bath. This year h...

Sedem is a full-time Research Analyst on his placement year from the University of Bath. This year he will be responsible for supporting the work of our various committees including ESG, Private Debt and Disclosure & Transparency.

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BOARD & MANAGEMENT COMMITTEES
Rodolfo Caceres
Membership Committee

Rodolfo joined Tikehau Capital in July 2008 where he leads a team of over 20 analysts across Paris, ...

Rodolfo joined Tikehau Capital in July 2008 where he leads a team of over 20 analysts across Paris, London, Singapore and New York covering HY and LevLoans. He started his career in 2000 at the Ministry of Finance and Public Credit of Colombia. In 2001 he joined Morgan Stanley (London) as a Credit Analyst and then Lehman Brothers in 2004. In 2006 he joined Fortis Investment in Paris as a buy-side Credit Analyst. He is a member of Tikehau Capital’s management committee and sits across several investment committees. He is a certified FRM (Financial Risk Manager) and holds a Masters in Strategic Management from HEC (Paris).

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Russell Taylor
Membership Committee

Russell Taylor is a portfolio manager at J.P. Morgan Asset Management (JPMAM) on European high yield...

Russell Taylor is a portfolio manager at J.P. Morgan Asset Management (JPMAM) on European high yield strategies and leads the European high yield research team. He has been with the firm since 2010 and in the industry since 2005. Russell holds a B.Sc. in business administration from the University of Bath and the Investment Management Certificate.

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Deborah Malka
Nominations Committee

Deborah has 13 years of financial services and investment experience in the High Yield, Private Debt...

Deborah has 13 years of financial services and investment experience in the High Yield, Private Debt, Private Equity and Corporate Finance markets working most recently with Mr. Allen and Mr. Ammons at CPP Investment Board. She was responsible for deal sourcing, execution and active portfolio management. Prior to that, Deborah worked as an associate in the investment team of CCMP Capital Advisors, a private equity firm, and at Goldman Sachs International‘s Investment Banking Department focusing on Mergers & Acquisitions, Corporate Finance and IPOs. Deborah holds a Master in Management with a major in financial engineering from ESCP Europe.

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Sebastian Potocean
Nominations Committee

Sebastian Potocean is a Managing Director within Barings’ High Yield Investments Group and sits on...

Sebastian Potocean is a Managing Director within Barings’ High Yield Investments Group and sits on the firm’s European High Yield Investment Committee. Sebastian is the Head of European Research and is responsible for managing the high yield research function in analyzing and transacting new and secondary investment opportunities. Prior to joining Barings in 2015, Sebastian worked in Deutsche Bank’s European Leveraged Finance Team, focused on leveraged buyouts and the structure of high yield bonds and levered loans. Before that, he worked in Ernst & Young’s Transaction Advisory Services Team, focused on restructurings. In addition, Sebastian is a Board Member of the Loan Market Association (LMA).

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Alyse Kelly
Partnership & Events Committee

Alyse Kelly is a Head of Investments on the Securitized Product and Asset-Based Finance Team. Alyse ...

Alyse Kelly is a Head of Investments on the Securitized Product and Asset-Based Finance Team. Alyse brings a multi-decade background as a Credit Analyst, with experience assessing secured bank loans and Collateralized Loan Obligations (CLOs). She joined Schroders in 2021 and is based in New York. She has expanded the team’s investments across CLOs and initiated investments in leveraged loans. Prior to Schroders, Alyse was a Credit Analyst at Pretium, where she was responsible for secured bank loan investments across their multi-billion dollar CLO platform. Alyse joined Pretium as a part of Pretium’s 2017 acquisition of CLO manager Valcour Capital Management, which she joined in 2012. Valcour was launched by members of the team at Aladdin Capital Management, where Alyse worked from 2006–2011. Alyse began her career at Standard & Poor’s, where she was a rating analyst from 1999–2006. Alyse has an MBA from The Darden School, at The University of Virginia; and she earned her BA from Tufts University. Alyse is actively involved with Girls Who Invest and as a Schroders career coach.

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Gauthier Reymondier
Partnership & Events Committee

Gauthier Reymondier joined Bain Capital in 2008. He is a Partner based in London office and the Head...

Gauthier Reymondier joined Bain Capital in 2008. He is a Partner based in London office and the Head of the Credit business for Europe. Previously, Gauthier was a Manager at Bain & Company supporting private equity funds in Europe and worked at Schroder Salomon Smith Barney and he received a B.A. from HEC Paris.

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Denis Struc
Partnership & Events Committee

Denis Struc is a Portfolio Manager on the Secured Credit Team and co-manages the Asset-Backed Securi...

Denis Struc is a Portfolio Manager on the Secured Credit Team and co-manages the Asset-Backed Securities and Global Short Duration Credit strategies at Janus Henderson Investors, a position he has held since 2016. In this role, he is responsible for portfolio management and markets and transaction analysis across the securitised and secured credit markets. Denis joined Henderson in 2010 as structured product analyst and was promoted to senior analyst in 2013. Prior to this, he was an analyst at Moody’s Investors Service in the structured products department. He began his career in 2005 with HBOS, where he was working as a surveillance analyst in the structured credit and investment risk group. Denis received a BBA degree from Academy of Economic Studies of Moldova and an MSc in finance and investment from Brunel University. He holds the Investment Management Certificate and has 17 years of financial industry experience.

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Gianluca Consoli
PR & Marketing Committee

Gianluca Consoli, CFA, is a Vice President and Portfolio Manager in PGIM Fixed Income's European Lev...

Gianluca Consoli, CFA, is a Vice President and Portfolio Manager in PGIM Fixed Income's European Leveraged Finance Team, based in London. Mr. Consoli is primarily responsible for managing bank loans and high yield bonds across multiple mandates. Previously, he was a credit analyst in the European Leveraged Finance Credit Research Team where he covered the industrials, building materials, speciality financials and travel and transport sectors. Prior to joining the Firm in 2019, Mr. Consoli worked at Columbia Threadneedle Investments for 6 years. He commenced his career at Citi as a Credit Sector Specialist and subsequently worked as an analyst at Goldbridge Capital Partners. Mr. Consoli received a MA (Hons) in Economics from Cambridge University. He holds the Chartered Financial Analyst (CFA) designation.

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David Newman
PR & Marketing Committee

David Newman is a managing director and CIO of global high yield at Allianz Global Investors (AGI). ...

David Newman is a managing director and CIO of global high yield at Allianz Global Investors (AGI). David has been involved in the European high yield market since its inception (and before the advent of the euro). Until 2008, David held various sell-side positions in research, strategy and trading at Hambros, UBS and Citi focusing on European high yield. Since 2009, David has been managing global high yield mandates for Allianz Global Investors and as such brings a global focus to ELFA. David is well versed in credit, covenants and structures and brings a wealth of experience to ELFA. David has an MBA from Bayes Business School.

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Rebecca Clements
Remuneration & Finance Committee

Rebecca joined Fidelity International as Sr Credit Analyst in 2016. She spent the previous 13 years...

Rebecca joined Fidelity International as Sr Credit Analyst in 2016. She spent the previous 13 years covering corporate high yield credit in both Europe and the US. During that time, she worked in a variety of buyside and sellside analyst, investment and execution roles for banks/brokers, hedge funds and real money. Prior to moving into credit investing, she worked in equity research and investment banking. Rebecca graduated with a BBA in Finance and Accounting from the University of Wisconsin-Madison and completed her MBA at Kellogg School of Management. She became a Chartered Financial Analyst in 2006.

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Jerome Ingenhoff
Remuneration & Finance Committee

Jerome Ingenhoff joined Alcentra in 2018 and is a Director on the Credit Research team in London. He...

Jerome Ingenhoff joined Alcentra in 2018 and is a Director on the Credit Research team in London. He is responsible for covering the Construction & Building Materials and Gaming, Leisure & Entertainment sectors. Prior to joining Alcentra, Jerome worked at J.P. Morgan in Acquisition & Leveraged Finance, having started his career at J.P. Morgan in Credit Risk. A citizen of Germany and Switzerland, Jerome holds a BSc in Economics from the University of Tübingen and a MA in International Relations & Economics from Johns Hopkins University (SAIS) in Washington D.C. and Bologna.

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Scarlett de Posson
Remuneration & Finance Committee

Scarlett is Head of Origination Strategy - Private Assets at M&G Investments where she has been sinc...

Scarlett is Head of Origination Strategy - Private Assets at M&G Investments where she has been since 2011. Previously Scarlett worked successively for GSC Group and AlpInvest Partners with responsibility for European Mezzanine investments. Joining the industry in 2004, Scarlett started as an Analyst in the Investment Banking Department of Citigroup. She graduated from ESSEC Business School.

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Initiative Committee Co-Chairs
Elena Rinaldi
CLO Investor Committee

Elena joined TwentyFour Asset Management in 2015 as an analyst in the ABS team. Her primary responsi...

Elena joined TwentyFour Asset Management in 2015 as an analyst in the ABS team. Her primary responsibilities at the beginning involved assisting in the management and day-to-day activities of the team, focusing on underwriting and modelling of ABS/CMBS/RMBS and CLOs. Over the years, she has developed strong expertise in CLOs and CMBS. She’s currently a portfolio manager in the ABS team and a member of the ESG Committee, where she leads on all sustainability matters related to ABS. Before joining TwentyFour Asset Management, Elena worked for one year as a Financial Analyst at Oakmore Investment Partners and Aqovia. Elena has a 1st class MSc. with honours in Finance and holds a BSc. in Management and Business Administration from the University of Bologna. She is a CFA Charterholder and a member of the CFA Society UK.

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Denis Struc
CLO Investor Committee

Denis Struc is a Portfolio Manager on the Secured Credit Team and co-manages the Asset-Backed Securi...

Denis Struc is a Portfolio Manager on the Secured Credit Team and co-manages the Asset-Backed Securities and Global Short Duration Credit strategies at Janus Henderson Investors, a position he has held since 2016. In this role, he is responsible for portfolio management and markets and transaction analysis across the securitised and secured credit markets. Denis joined Henderson in 2010 as structured product analyst and was promoted to senior analyst in 2013. Prior to this, he was an analyst at Moody’s Investors Service in the structured products department. He began his career in 2005 with HBOS, where he was working as a surveillance analyst in the structured credit and investment risk group. Denis received a BBA degree from Academy of Economic Studies of Moldova and an MSc in finance and investment from Brunel University. He holds the Investment Management Certificate and has 16 years of financial industry experience.

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Tina De Baere
ESG Committee

Tina De Baere is Head of ESG at Polus Capital Management (“Polus”). Polus was launched in 2022 f...

Tina De Baere is Head of ESG at Polus Capital Management (“Polus”). Polus was launched in 2022 following the strategic combination of two leading European credit managers, Cairn Capital and Bybrook Capital. At Polus, Tina is responsible for developing and implementing the firm’s ESG strategy and policy. Tina joined Polus in 2008 and previously worked as a portfolio manager in the ABS team. Tina currently also serves on the PRI Securitised Products Advisory Committee as well as the co-Chair of ELFA’s ESG Committee.

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Lily Baik
ESG Committee

Lily Baik is a research analyst in the European High Yield team at J.P. Morgan Asset Management and ...

Lily Baik is a research analyst in the European High Yield team at J.P. Morgan Asset Management and is responsible for identifying investment opportunities in the TMT, Leisure, and Transportation sectors. Prior to joining the firm in 2015, Lily was a member of the Emerging Markets Fixed Income Team within J.P. Morgan Wealth Management in New York. Lily holds a B.A. in Economics and Psychology from Northwestern University and is also a CFA charterholder.

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Oliver Newman
ESG Committee

Oliver Newman is a Senior Credit Analyst at Fidelity, where he is responsible for managing a portfol...

Oliver Newman is a Senior Credit Analyst at Fidelity, where he is responsible for managing a portfolio of c.30 sub-investment grade leverage loan and high yield bond positions. Since joining Fidelity in March 2021, he has been responsible for the role-out of the firmwide ESG framework across private credit strategies: CLO’s, Loan Fund, Direct Lending Fund. This culminated in the launch of the Article 8 aligned CLO in December 2021. Fidelity was the first European CLO manager to achieve this milestone.

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Lorraine Specketer
Loan Investor Committee

Lorraine joined the Fixed Income Group at Insight in July 2007 to help establish and manage the loan...

Lorraine joined the Fixed Income Group at Insight in July 2007 to help establish and manage the loan platform and is the portfolio manager for the Loan Fund, as well as being responsible for Insight’s leveraged loan investments, more widely. She has a wide range of contacts in the European loan market and a broad range of transactional experience across both leveraged and CRE loan deals. Prior to joining Insight, Lorraine worked at Bayern LB for five years, latterly as an associate in the Acquisition & Leveraged Finance Team where she was part of a deal team that sourced and transacted loans. Lorraine graduated from the University of Bath with a BA (Hons) degree in French, German and European Studies. She also holds the Investment Management Certificate from the CFA Society of the UK.

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Saurabh Bhalla
Loan Investor Committee

Saurabh Bhalla is Managing Director and Senior Credit Analyst with primary focus on European investm...

Saurabh Bhalla is Managing Director and Senior Credit Analyst with primary focus on European investments at Oak Hill Advisors. Saurabh joined Oak Hill Advisors in 2013 and prior to that worked in the Credit Suisse European Leveraged Finance and Sponsors Group. He earned a Chartered Accountant qualification with the Institute of Chartered Accountants of India and B.Com. (Hons.) from the University of Delhi.

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Simon Duff
Disclosure & Transparency Committee

Simon is a Senior Analyst at M&G Investments where he currently leads the Telecom, Media and Technol...

Simon is a Senior Analyst at M&G Investments where he currently leads the Telecom, Media and Technology analyst pod. He has over 20-years experience as a credit analyst and has focused on the Telecom, Media and Technology sectors in Europe and North America covering both investment grade and high yield credits with experience of both bonds and leveraged loans. Prior to M&G, Simon worked at Insight Investments, UBS, Barclays and KPMG.

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Rebecca Clements
Disclosure & Transparency Committee

Rebecca joined Fidelity International as Sr Credit Analyst in 2016. She spent the previous 13 years...

Rebecca joined Fidelity International as Sr Credit Analyst in 2016. She spent the previous 13 years covering corporate high yield credit in both Europe and the US. During that time, she worked in a variety of buyside and sellside analyst, investment and execution roles for banks/brokers, hedge funds and real money. Prior to moving into credit investing, she worked in equity research and investment banking. Rebecca graduated with a BBA in Finance and Accounting from the University of Wisconsin-Madison and completed her MBA at Kellogg School of Management. She became a Chartered Financial Analyst in 2006.

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Anita Isichei
Diversity & Inclusion Committee

Anita Isichei joined MV Credit in June 2022 as Head of HR. Prior to MV Credit, Anita was based in Sw...

Anita Isichei joined MV Credit in June 2022 as Head of HR. Prior to MV Credit, Anita was based in Switzerland as an HR consultant for The Global Fund. The majority of her career was spent within a variety of big and small international financial services firms such as Lombard Odier Investment Managers, Capital One Bank and First Abu Dhabi Bank. Anita is a Swiss National, speaks fluent English/French and holds a degree in Business Management & Human Resources.

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Irem Sukan
Diversity & Inclusion Committee

Irem Sukan is an Executive Director and works as a senior credit analyst in the European HY team at ...

Irem Sukan is an Executive Director and works as a senior credit analyst in the European HY team at JP Morgan Asset Management. She started her finance career in the Chief Credit Risk office of AIG/Pinebridge Investments in New York; and later joined the firm’s Leveraged Finance team as a credit analyst in London. Prior to JP Morgan, she was a senior credit analyst at Wellington Management where she started the HY team’s globalization effort in London. Irem holds an Ms. in Foreign Service with a focus on International Finance & Commerce from Georgetown University, Washing, DC; and more recently earned an Ms. in Psychology and Neuroscience of Mental Health from King’s College, London.

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Adil Khan
Engagement Committee

Adil is Director, Compliance - EMEA and APAC at Muzinich & Co. , having joined in 2018. Prior to th...

Adil is Director, Compliance - EMEA and APAC at Muzinich & Co. , having joined in 2018. Prior to this, he was Senior Analyst at ACA Compliance Group. Adil is a law graduate with a Masters from University College London and a non-practicing barrister under the English and Welsh Bar.

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Sebastian Potocean
Engagement Committee

Sebastian Potocean is a Managing Director within Barings’ High Yield Investments Group and sits on...

Sebastian Potocean is a Managing Director within Barings’ High Yield Investments Group and sits on the firm’s European High Yield Investment Committee. Sebastian is the Head of European Research and is responsible for managing the high yield research function in analyzing and transacting new and secondary investment opportunities. Prior to joining Barings in 2015, Sebastian worked in Deutsche Bank’s European Leveraged Finance Team, focused on leveraged buyouts and the structure of high yield bonds and levered loans. Before that, he worked in Ernst & Young’s Transaction Advisory Services Team, focused on restructurings. In addition, Sebastian is a Board Member of the Loan Market Association (LMA).

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Mikko Iso-Kulmala
Private Debt Investor Committee

Mikko joined Fidelity in early 2022 and is Head of Private Credit Solutions. Before Fidelity, Mikko ...

Mikko joined Fidelity in early 2022 and is Head of Private Credit Solutions. Before Fidelity, Mikko worked at Barings (formerly known as Babson Capital) most recently looking after strategic and investment business management across credit. For the first 7+ years at Barings, Mikko was a Client Portfolio Manager across leveraged credit. Prior to Barings, Mikko worked at J.P. Morgan Asset Management as a Client Portfolio Manager for Global Multi-Asset Group; focusing on convertible bonds, systematic alpha/hedge fund beta and income strategies. Mikko started his career in early 2007 at J.P. Morgan Asset Management, with initial focus on negotiating ISDAs/CSAs and other portfolio related aspects from Legal side. Whilst at J.P. Morgan Asset Management, Mikko passed the New York Bar Exam.

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Alexandra Trapes
Private Debt Investor Committee

Alexandra is Head of Private Debt Co-investments at AXA Prime, focusing on investments in corporate ...

Alexandra is Head of Private Debt Co-investments at AXA Prime, focusing on investments in corporate loans to European and US mid-market businesses. Before joining AXA Prime, she was an Investment Director in the Direct Lending team at Federated Hermes investing in leveraged transactions across Europe and the UK. Prior to this, she was at GE Capital in the leveraged finance team arranging UK and European mid-cap, club and unitranche transactions. Previously, Alexandra worked for six years in the leveraged finance underwriting business of Royal Bank of Scotland, where she focused on UK mid-market leveraged and acquisition finance deals after working on European large-cap private equity-backed transactions. Alexandra holds a Specialised Masters in Corporate Finance from the EM Lyon School of Management and a Master of Science in Management (Grande Ecole program) from the ESC Grenoble School of Management.

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Ashwant Bihal
AI Committee

Mr. Ashwant Bihal is a Managing Director at HPS Investment Partners and is Global Head of the Risk &...

Mr. Ashwant Bihal is a Managing Director at HPS Investment Partners and is Global Head of the Risk & Quant Strats (RQS) Team. Prior to joining HPS in 2017, Mr. Bihal held various roles at BlueMountain Capital, including Lead Risk Manager for the Multi-Asset Private Capital and Opportunistic Investment Business, Credit Index Option Trader and Senior Market & Credit Risk Manager. Prior to that, Mr. Bihal worked as a Portfolio Manager at two Hedge Funds, D.B. Zwirn (UK) Limited and CQS. Prior to that, Mr. Bihal began his career as an Analyst at Deutsche Bank. Mr. Bihal holds a MSc, with distinction, in Mathematical Trading and Finance from CASS Business School and BSc with Honors in Mathematics and Computer Science from University College London (UCL).

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Joe Alston
AI Committee

Mr. Joseph Alston is a Director and Deputy Portfolio Manager at AlbaCore Capital. He has 11 years of...

Mr. Joseph Alston is a Director and Deputy Portfolio Manager at AlbaCore Capital. He has 11 years of experience in sub-investment grade credit with a focus on Leveraged Loans and CLOs. Prior to joining AlbaCore, he was part of the investment team focused on Leveraged Loans at Voya Investment Management, a listed US firm with $460bn AUM across Retirement and Investment Management Segments, and a leading CLO issuer globally. Mr. Alston started his career at Janus Henderson, where he was a part of the Performance Analytics team. Mr. Alston holds an M.Sc. in Finance from Lancaster University Management School where he graduated with a Distinction. Mr. Alston also holds an Upper Second Class BA(hons) in Accountancy and Finance from Lancaster University Management School.

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