Dear Centrifuge community,
Please join me in welcoming the inaugural Credit Group (more details on the Credit Group in the RFC and poll here). These are seasoned credit experts with specializations in different asset classes, and they will provide the Centrifuge community and our partners with unbiased and objective reviews of pool onboarding proposals (link to POP V2). Additionally, they will support the community with all questions around the setup, assets, and risks of proposed new and existing pools.
With DeFi Capital Markets as the facilitator, the initial Credit Group will be made up of 2 advisors and 5 reviewers, who will work together to get us started with creating a framework and template for risk reports, and coming up with criteria for POPs to be assessed and processes to engage with potential issuers and review reports.
Because we are starting with a small group, we expect to utilize external consultants for reports on various asset classes where the Credit Group has limited expertise. Advisors will provide general guidance for the group and help with the evolution of the strategy of the CG as it grows. Reviewers will be paid hourly for their time spent as provided for by the community in the poll: writing the reports, sourcing for external consultants, vetting the reports of the external consultants, responding on the forums and with external-facing activities with partners, etc. External consultant payments will be figured out on a case-by-case basis based on their market rate within the budget approved by the community, our need for that specific asset class, etc.
We are looking to schedule the inaugural meeting of the Credit Group in the next few weeks, and will have most, if not all of the Credit Group, at the Feb 16 Governance call.
Name: David Jeng
Bio: David currently serves as CEO and Board Member for Wintec Industries Inc – a global supply chain management and manufacturing company. He sits on the Board for Graniterock – one of the largest materials and infrastructure construction companies in the San Francisco Bay Area. David is also an active investor and advisor for blockchain projects, technology startups, hedge funds and venture funds. David serves as Secretary General of Monte Jade West Science and Technology Association, sits on the board of USC’s Viterbi Innovation Partners and serves as an advisor for USC’s Center for AI in Society++ (CAIS++). David received his Bachelors in Computer Engineering and Computer Science from the University of Southern California.
Asset specialization: Electronics and Semiconductor Manufacturing Supply Chain Assets
Centrifuge forum handle: @Davidjeng
Name: James Chan
Bio: James is a Managing Director at Seabury Capital and CEO of one of their portfolio companies, Billboard TFX, a working capital fintech. He has over two decades experience in the structured finance and commodity markets including structuring, investment management across the capital structure and derivatives trading. Prior to joining Seabury Capital, James was Managing Director and Head of Trade Finance at the private credit fund, White Oak. His prior experience also includes MET Commodities, The Noble Group, Cheyne Capital, BlackRock, and Nomura. James received his BSc (hons) Biochemistry from Royal Holloway College, London and his MSc International Management from Kings College, London.
- All direct lending/private credit products, both secured and unsecured including Term Debt, Trade and Structured Trade Finance products
- All Structured and ABS products including Securitized and Whole Loan Pools
- All Oil and Rate derivatives
Centrifuge forum handle: @JamesChan
Name: Chris Diamond
Chris works in Operations and Corporate Strategy at a stealth start-up focused on single-family rentals in NYC. Before that, he was at Better.com co-running the Capital Markets and Financial Products group and their corporate debt and warehouse finance totaling $6B+ of balance across 12 institutions. Chris worked as a portfolio manager at Fortress Invest Group, and was a vital member of the team that purchased New Penn, a mortgage originator. He also worked at Houlihan Lokey, focusing on portfolio valuations, frequently involving structured products, whole loans, and other illiquid credit instruments for financial institutions and alternative asset managers. He holds a B.A. from Lafayette College in Business and Economics.
- Mortgage servicing rights
- Whole loans, NPL (non-performing loans), RPL (re-performing loans), REO (real estate owned - assets awarded after a foreclosure process)
- Unsecured consumer
- Single Family Rental
- Other real estate assets
Centrifuge forum handle: @ChrisDiamond
Name: Erik Mayo
Bio: Erik is currently Co-Founder and Managing Partner of Terra Incognita Capital, a global opportunistic credit investment firm focused on specialty lender finance. He is an active participant in DeFi projects with the Sommelier and Paloma blockchains. Erik was a Founding Partner and Co-Portfolio Manager of Fintan Partners, making investments in strategies including distressed debt, structured credit, growth capital financing, receivables factoring, and private equity. Prior to that, Erik worked at Stanford Management Company as part of the two-person Absolute Return team managing $1B+, and at Lazard Asset Management and Bankers Trust. Erik earned a B.S. in Economics from the Wharton School of the University of Pennsylvania.
- Trade Finance
- Revenue Based Finance
- Charged Off Asset
- Credit cards
- Small business loans
- Real estate
- Single family real estate
- Developed and Emerging Markets
Centrifuge forum handle: @Mayoe
Name: Hong Fan
Bio: Hong is a Structured Product Analyst at Brigade Capital Management, and he has 8 years experience in structured products and ABS. Before joining Brigade in 2020, Mr. Fan was employed as an ABS Desk Trading Strategist at Morgan Stanley. Mr. Fan started his career in 2014 at Moore Capital Management as a Consumer ABS Analyst and Quantitative Risk Analyst. Mr. Fan received a MSc in Quantitative Finance from Fordham University and a Bachelor of Economics from Southwestern University of Finance and Economics in China.
- Public ABS bond investment and trading. Both investment grade and sub investment grade
- Private Consumer ABS investment
- Forward Flow / Whole Loan transaction
- Senior / Mezzanine Tranche Warehouse transaction
- Major experiences of underlying collateral
- Unsecured Consumer Loan
- Subprime/Prime Auto Loan
- Private Credit Card
- Solar Loans / Leases
- Small and Medium Enterprises Loans
- Other Fintech Receivables
Blockchain / On-Chain Credit Related Experiences:
- Personal Medium Hong Fan – Medium
- Dune page for Goldfinch analysis
- Running personal Ethereum full node
Centrifuge forum handle: @fanhong.123
Name: Jeremy Kim
Bio: Jeremy is a structured credit specialist with over a decade of experience in various aspects of structured credit, including originations, structuring, portfolio management, and analytics, across a broad range of asset classes. He is currently working with the END Labs team on bringing real world assets to DeFi in the form of structured credit transactions.
- Unsecured consumer
- Auto loans
- Other esoteric assets
Centrifuge forum handle: @JeremyKim
Name: Sam Paderewski
Bio: Sam is currently a member of the Strategic Finance team at MakerDAO, focusing on the DAO’s Real World Asset effort. Sam was a CLO (collateral loan obligations - uses corporate loans) and CDO (collateralized debt obligations - mostly uses bonds and other debt instruments) analyst and trader at Hildene Capital, a structured credit hedge fund, where he also developed quantitative models and firm infrastructure. He was at Citigroup prior, where he worked on the CLO Structuring & Syndicate team, bringing CLOs to market through every step of the new issue process. He was also a salesperson on Citi’s institutional Investment Grade Credit team, focusing on IG corporate bonds, but also credit default swaps, high yield bonds, and credit indices. Sam graduated from Duke University with a B.A in Computer Science and a Certificate in Markets & Management.
Asset Specialization: Structured Credit (CDOs and CLOs)
Centrifuge Forum Handle: @roo