Team

Z Capital has a substantial Investment Team. The core members of the Investment Team have worked together for over a decade. Collectively, these individuals collaborate across geography, sharing industry knowledge and insight to source, research and consummate investments in a wide range of industries.

The Investment Team has more than a nineteen year track record investing in value oriented control private equity and credit related strategies and having in excess of 200 years of experience.

The Investment Team includes seasoned operations professionals having industry expertise including buildings and real estate, consumer products, industrial, automotive, gaming and leisure, retail stores, textile, banking and financial and restructuring services. The operations members assist in conducting operational due diligence, in building management teams and in value-creation initiatives.


James J. Zenni, Jr., President and Chief Executive Officer

Mr. Zenni is President and Chief Executive Officer of Z Capital and is responsible for all portfolio management and business operations. Over the last 19 years, Mr. Zenni has had substantial success investing in value-oriented private equity, mergers & acquisitions and related strategies.

Mr. Zenni is currently Chairman of the Board of Directors of Mrs. Fields Famous Brands, LLC, Real Mex Restaurants, Twin-Star International, and Waldhaus Flims Hotel Management GmbH and is a Board member of Affinity Gaming, Modere, Inc., and Carillon Miami Beach. Mr. Zenni was previously Chairman of the Board of Directors of MSDP Group, LLC and member of the Board of Directors of Automotive Aftermarket Group, LLC, Bayou Steel Corporation, Smarte Carte Corporation and Sun World International, LLC, all of which were or are portfolio companies.

Mr. Zenni has managed numerous value-oriented private equity or related transactions including Bayou Steel Corporation, Mrs. Fields Famous Brands, MSDP Group, LLC, Modere Inc., New World Pasta Company, PTC Alliance Corp., Real Mex Restaurants, Smarte Carte Corporation, Sun World International, Inc., and Thomas Nelson, Inc.

Prior to founding Z Capital, Mr. Zenni was President and Managing Partner and fifty percent equity owner of Black Diamond Capital Management, L.L.C. (“Black Diamond”) which he founded in 1995. Mr. Zenni was jointly responsible for all portfolio management and business operations at Black Diamond. Mr. Zenni divested his interest in Black Diamond in an employee-led buyout which led to the formation of Z Capital.

Prior to founding Black Diamond, Mr. Zenni was a Managing Director and senior member of the Capital Markets Department of Kidder, Peabody & Co. Inc. (“Kidder”), formerly a wholly-owned subsidiary of GE Capital Corporation. Mr. Zenni had a distinguished career while at Kidder and played a significant role in its growth and success and gained significant experience in financial asset engineering, acquisitions, and opportunistic, value oriented investing. Mr. Zenni was the only non-management/department head in the firm to hold the title of Managing Director.

Mr. Zenni is a graduate of Xavier University with a Bachelor of Science degree in economics and attended Xavier University Graduate School of Business and University of Vienna (Austria) School of Economics and Business Administration.

In addition, Mr. Zenni served on the Board of Trustees and was Chairman of the Investment Committees of Rosalind Franklin University of Medicine and Science and Lake Forest Country Day School.


Martin J. Auerbach, Esq., Senior Managing Director and General Counsel

Mr. Auerbach is Senior Managing Director and General Counsel of Z Capital. . Mr. Auerbach has a distinguished career spanning over thirty years. He has extensive Private Equity experience, regulatory and compliance expertise in securities and gaming, has successfully led numerous litigations, managed large teams of lawyers and provided highly effective counsel in acquisitions, reorganizations, turnarounds and crisis management situations.

Mr. Auerbach leads Z Capital’s legal team and outside counsel in advising our portfolio companies on a broad range of legal and regulatory matters, from IP protection to litigation to compliance with employment, gaming and other regulations. Mr. Auerbach provides legal advice and counsel to our investment team in matters ranging from legal due diligence and protection of Z Capital’s proprietary confidential information, to auction bidding, acquisitions and retention of key personnel. Working with our CCO and compliance team Mr. Auerbach helps insure Z Capital’s compliance with a broad array of securities and gaming laws, and other domestic and international regulations. Prior to being General Counsel of Z Capital he was consulting General Counsel of BDCM.

Mr. Auerbach holds a Juris Doctor degree with honors from Harvard Law School and a Bachelors degree with high honors from Harvard College. Mr. Auerbach has served as an Assistant United States Attorney responsible for large-scale tax prosecutions, as law clerk for a Senior United States District Judge, and on the Professional Staff of the Energy and Commerce Committee of the United States House of Representatives.


Christopher J. Kipley, CFA, Senior Managing Director

Mr. Kipley is a Senior Managing Director of Z Capital and is a member of the Private Equity Investment Team. Mr. Kipley has substantial experience in value-oriented private equity and mergers & acquisitions. Mr. Kipley is a member of the Board of Directors for Mrs. Fields Famous Brands, LLC , Real Mex Restaurants, and Twin-Star International, and was previously on the boards of Automotive Aftermarket Group, LLC, Smarte Carte Corporation and Sun World International, LLC, all of which were or are portfolio companies.

Mr. Kipley has led the acquisition of portfolio companies, recruited executive management teams to such portfolio companies, instituted appropriate governance and reporting structures, established and approved strategic plans with company management, overseen the execution of value creation initiatives with the assistance of Z Capital’s operating partners and established or executed on exit strategies. Such companies include Mrs. Field’s Famous Brands, LLC; New World Pasta Company; Sleepmaster, L.L.C.; Real Mex Restaurants, Smarte Carte Corporation; Sun World International, LLC.

Prior to joining Z Capital, Mr. Kipley was a Managing Director and was a member of the investment team at BDCM, where he lead and managed private equity investments in companies across a number of industries including automotive, consumer products, consumer food, containers & packaging , media and agriculture.

Prior to joining BDCM in May 1998, Mr. Kipley was an Associate in Bank of America NT&SA’s corporate finance department, where he was responsible for performing comprehensive credit analysis on existing and prospective borrowers. Prior to joining Bank of America NT&SA in August 1996, Mr. Kipley was a Senior Financial Analyst in The Chase Manhattan Bank, N.A.’s corporate finance department.

Mr. Kipley received his B.A. in Psychology from the University of Michigan, where he graduated with distinction. Mr. Kipley is a CFA charterholder.


Rahul Sawhney, CFA, Senior Managing Director

Mr. Sawhney is a Senior Managing Director of Z Capital and is a member of the Private Equity Investment Team. Mr. Sawhney has had substantial experience in value-oriented private equity and mergers & acquisitions. Mr. Sawhney is currently a member of the Board of Directors of and/or was actively involved in the restructurings of Focus Products Group, LLC, Thomas Nelson, Inc., Modere, Inc, and MSDP Group, LLC.

Mr. Sawhney has led the acquisition of portfolio companies, recruited executive management teams to such portfolio companies, instituted appropriate governance and reporting structures, established and approved strategic plans with company management, overseen the execution of value creation initiatives with the assistance of Z Capital’s operating partners and established or executed on exit strategies.

Prior to joining Z Capital, Mr. Sawhney was a member of the investment team at BDCM, where he made and managed investments in companies across a number of industries including automotive, consumer products, containers & packaging, metals & mining and technology.

Mr. Sawhney joined BDCM from JPMorgan Chase & Co. (“JPM”). During his nine-year tenure at JPM and predecessor organizations, Mr. Sawhney worked primarily within capital markets, special asset management and corporate risk management.

Mr. Sawhney received his Bachelor of Technology in Electronics & Communications Engineering degree from the National Institute of Technology, India, and a Master of Business Administration degree with honors from the University of Chicago. He is a member of the CFA Institute and the Turnaround Management Association.


Jonathan Schmugge, C.P.A., Senior Managing Director - Chief Operating Officer & Chief Financial Officer

Mr. Schmugge is a Senior Managing Director, Chief Operating Officer and Chief Financial Officer of Z Capital, and is responsible for all aspects of Z Capital’s accounting and financial reporting.

Prior to joining Z Capital, Mr. Schmugge was the former Chief Financial Officer and Chief Accounting Officer of BDCM where he was responsible for all aspects of BDCM’s financial reporting, tax filings and accounting. During his ten-year tenure with BDCM, Mr. Schmugge managed an accounting department of substantial size with responsibility for all of BDCM’s hedge fund and private equity investments. Mr. Schmugge has extensive experience in the accounting, finance and operations of privately-held investment management companies.

Prior to joining BDCM in March 1997, Mr. Schmugge was a fund accountant with Oppenheimer & Co., Inc.’s (“Oppenheimer”) hedge fund accounting department where he was responsible for daily valuation and monthly reporting for several of Oppenheimer’s hedge funds.

Prior to joining Oppenheimer in May 1996, Mr. Schmugge was a fund accountant for Appaloosa Management, L.P. (“Appaloosa”), where he was also responsible for accounting for Appaloosa’s management company.

Mr. Schmugge received his B.B.A. in Public Accounting from Hofstra University. Mr. Schmugge received his CPA in 1995.


Salim Belkaid, Managing Director

Mr. Belkaid is a Managing Director of Z Capital and is responsible for corporate development for our private equity and credit funds.

Mr. Belkaid was previously a Principal at Triago where he was involved in the origination and execution of primary fundraising in the Middle East and Europe. Mr. Belkaid has also played a role in Triago’s strategic missions for clients.

Prior to Triago, Mr. Belkaid was an analyst in the Alternative Investment Group at JP Morgan in Geneva. At JP Morgan, Mr. Belkaid was responsible for raising capital for private equity and hedge funds. Earlier, Mr. Belkaid was an institutional salesman for Morgan Stanley Investment Management in Paris.

Mr. Belkaid earned an MS in Management from ESSEC Business School, a Bachelor in Economics from Sorbonne University, and an MS in law from René Descartes University.


Melonie C. Danford, Managing Director

Ms. Danford is a Managing Director of Z Capital and is a member of the Investment Team for Z Capital Credit Partners. Ms. Danford is responsible for all middle office investment operations including, financial modeling, compliance reporting, investor reporting, portfolio valuations, as well as systems integration projects.

Ms. Danford has been with Z Capital since its inception and has an extensive experience in investment operations, TRS structuring, and treasury & finance, as well as varied experience in trading and credit underwriting.

Prior to joining Z Capital, Ms. Danford was a member of the bank debt team at Citadel Investment Group where she supported both the US and London trade desks in all aspects of settlements, debt financing, and loan administration.

Ms. Danford was previously with BDCM where she was a Senior Operations Associate specializing in distressed debt and equity settlements. Ms. Danford has extensive industry knowledge and over her 17 year career has held positions in fixed income at Strong Capital Management, and various management roles within Treasury and Settlements at ING Investments.

Ms. Danford received her Bachelor of Science in Business Management from the University of Phoenix.


Sandeep Dhuper, CFA, C.P.A., Managing Director – Chief Accounting Officer

Mr. Dhuper is a Managing Director and the Chief Accounting Officer at Z Capital and is responsible for all aspects of Z Capital’s accounting, tax and financial reporting.

Prior to joining Z Capital, Mr. Dhuper was the Controller of CTC Alternative Strategies, Ltd., where he oversaw the fund financial and tax reporting and gained substantial experience in accounting, reporting, tax and operations for asset management firms.

From 2006 to 2007, Mr. Dhuper worked in the Accounting Advisory Group at KPMG as a Manager, where he was responsible for providing technical accounting consulting. From 2000 to 2006, Mr. Dhuper worked as an Experienced Senior in the Assurance and Advisory Business Services Group at Ernst & Young, LLP, where he was responsible for performing financial statement audits for banking and investment management companies.

Mr. Dhuper received his B.A. in Finance from Michigan State University in 2000 and his M.S. in Accounting from University of Notre Dame in 2001. Mr. Dhuper is a Chartered Financial Analyst and a Certified Public Accountant. He is a member of the CFA Institute, CFA Society of Chicago, American Institute of Certified Public Accountants and Illinois CPA Society.


Colin McClary, Managing Director

Mr. McClary is a Managing Director of Z Capital and is a member of the Private Equity Investment Team and is responsible for sourcing / analyzing transactions through proprietary information.

Prior to joining Z Capital in March 2014, Mr. McClary served in the Special Assets/Risk Management (“SAG”), Debt Private Placement (“PP Group”) and Corporate Banking Groups at Bank of America/Banc of America Merrill Lynch (“BOA”), beginning in 1993. Starting in 2009, Mr. McClary was a Senior Vice President in SAG where he managed a portfolio of various credit exposures to middle market companies and regional/community banks, primarily located in the Midwest U.S. and has extensive experience in restructuring sole and syndicated loans for Borrowers operating in challenging environments, within and outside court proceedings.

From 1999 to 2009, Mr. McClary was a Vice President in the PP Group structuring and distributing private placement bonds to U.S. based insurance companies and pension funds for Issuers primarily located in U.S., U.K., Canada, Germany, Australia, Ireland and Italy. In addition, Mr. McClary developed a credit default swap contract that provided for the delivery of private placement bonds. Lastly, from 1993 to 1999, Mr. McClary served as a Credit Officer in a Corporate Banking group that specialized in providing credit to companies involved in the leasing, finance, and transportation industries.

Mr. McClary received a Masters of Science in Finance with a concentration in Accounting from the University of Illinois, Champaign-Urbana and a Bachelor in Economics from DePauw University.


William J. Monagle, Jr., C.P.A., Managing Director

Mr. Monagle is a Managing Director of Z Capital, and is responsible for the coordination of the firm’s operational projects and corporate development for our private equity and credit funds. Mr. Monagle has twenty years of leadership and experience analyzing private markets, private equity as well as tax and accounting related issues.

Prior to joining Z Capital Mr. Monagle was a Partner and Senior Strategist with NEPC and led the firm’s private markets research, due diligence activities. Mr. Monagle was also a member of the Partners Research Committee, Alternative Due Diligence Committee and the Real Assets Advisory Group. The Private Markets Team constructed global private markets (private equity, real estate, infrastructure and illiquid real assets) investment programs for basic to complex mandates and made investments in excess of $8 billion during 2004 – 2011 with substantial success.

Prior to joining in 2004 NEPC, Mr. Monagle was the Managing Director-Private Equity Research at Rogerscasey. He developed private equity investment structures for the firm’s clients and was responsible for the firm’s monitoring of approximately 150 private equity funds. Mr. Monagle authored the firm’s quarterly private equity market reviews and developed the firm’s private equity educational presentation.

Prior to joining Rogerscasey, Mr. Monagle was a Vice President and a member of the Board of Directors for the Hannah Consulting Group, Inc., responsible for private equity and real estate investment strategies. He conducted alternative investment searches, developed an alternative investments database, and monitored ongoing client performance.

Mr. Monagle earned an M.S. degree in Taxation from Bentley College and earned a B.S.B.A. degree majoring in Accounting from Northeastern University. He is a certified public accountant and a member of the AICPA and the MSCPA.


Andrei A. Scrivens, C.P.A., Managing Director

Mr. Scrivens is a Managing Director of Z Capital and is a member of the Private Equity Investment Team. Mr. Scrivens has substantial experience in value-oriented private equity and mergers & acquisitions. Mr. Scrivens is a member of the Board of Directors for Affinity Gaming and Carillon Miami Beach.

Prior to joining Z Capital, Mr. Scrivens was a Director with Chilmark Partners, (“Chilmark”) where he was responsible for leading financial advisory, mergers & acquisitions, as well as providing interim financial management to portfolio companies. During his tenure with Chilmark, Mr. Scrivens participated in the investments of International Knife and Saw, Simonds Industries, Sheffield Steel, and Nutramax, Inc.

Prior to joining Chilmark in 2001, Mr. Scrivens was a Senior Manager in Arthur Andersen’s Restructuring Group, where he led advisory teams and performed due diligence for mergers & acquisitions.

Mr. Scrivens received his Bachelors of Science in Accountancy from the University of Illinois and is a certified public accountant.


Yevgeniy Spivak, Managing Director

Mr. Spivak is a Managing Director of Z Capital and is a member of the Private Equity Investment Team and is responsible for investment sourcing/analyzing transactions through proprietary information.

Prior to joining Z Capital, Mr. Spivak had a decade of progressive career with Bank of America Merrill Lynch. Having substantial experience as a senior credit professional, he completed his tenure at BofA as a Senior Vice President. In conjunction with sourcing, structuring, and approving new credit relationships, Mr. Spivak was responsible for managing and growing an existing client base across the western U.S. Prior to serving in that capacity, Mr. Spivak was part of the Credit Products organization within the Middle Market/Mid-Corporate group, where he negotiated and structured sole bank and senior syndicated debt and managed a portfolio of companies, both private and publicly traded.

Prior to joining Bank of America in 2004, Mr. Spivak was at JPMorgan Chase & Co. and its predecessor Bank One as part of the Special Assets Group for five years. At JPMorgan, he was responsible for managing a portfolio of various credit exposures to middle market companies. He played an integral role in restructurings of sole and syndicated credit facilities for borrowers in financial distress. He valuated and led note offerings to the secondary market.

Mr. Spivak has lived in Europe and Asia where had an array of work experiences ranging from serving in the military to founding and managing a successful business venture.

Mr. Spivak received a Master of Business Administration with concentration in Finance and a Bachelor of Science majoring in Finance from the Indiana University Kelley School of Business.


Hang Yuan, Managing Director, Chief Information Officer

Mr. Yuan is a Managing Director and Chief Information Officer of Z Capital and is responsible for the creation and implementation of proprietary systems to support portfolio and risk management. Mr. Yuan has over 10 years of experience in developing distributed client-server applications to solve complex business problems primarily within the financial services industry. Mr. Yuan’s experience spans an array of technologies including object-oriented technologies, .NET, C#, C++, Java, CORBA, SQL, Sybase, UML, TIBCO, UNIX.

Mr. Yuan’s prior experience includes several years at Goldman Sachs, Magic Trade, and Progeny Incorporated as a software engineer. At Goldman Sachs, Mr. Yuan was responsible for business requirement evaluation and design, development and testing of systems for various proprietary trading desks primarily utilizing C++. At Magic Trade, Mr. Yuan was responsible for trading system design, implementation, configuration, and testing and developed multi-thread trading components.

Mr. Yuan has a Bachelor’s degree in Nuclear Physics from Fudan University, a Masters degree in Distributed Systems from DePaul University and a Masters degree in Engineering Physics from South Dakota State University.


Timothy Clayton, Managing Director and Operating Partner

Mr. Clayton is a Managing Director and Operating Partner of Z Capital. Mr. Clayton is a member of the Private Equity Investment/Operations Team and assists in the management and oversight of portfolio company initiatives including, but not limited to, financial analysis, financial reporting, mergers & acquisitions, tax, and audit across all portfolio companies. Mr. Clayton serves on the boards of Mrs. Fields Famous Brands, LLC, Modere, Inc., Real Mex Restaurants, and Twin-Star International, and previously served on the board of MSDP Group, LLC., all of which are or were Z Capital portfolio companies. Mr. Clayton’s nearly 40 years of business experience represents a unique blend of financial, operational and strategic leadership activities across a wide variety of industries. Mr. Clayton has gained this experience working as a member of, or as a trusted advisor to, senior management teams. While this experience has included both large, multi-national corporations and smaller enterprises, Mr. Clayton has primarily focused on middle market companies in the business services, retail/consumer products, distribution and financial services sectors. His experience includes addressing the unique challenges that face both rapidly growing companies as well as companies that are in need of turnaround or transformational management.

Prior to joining Z Capital, Mr. Clayton held positions of CFO of Tile Shop Holdings, Inc, a rapidly growing specialty retailer, sponsored by J.W. Childs Associates, and Vice President and CFO of Sajan, Inc., a multi-national provider of business oriented language translation services. Previously, Mr. Clayton was founder and managing principle of Emerging Capital, LLC, a management consulting firm specializing in financial, operational, and strategic planning, and merger and acquisition advisory services. In that capacity, Mr. Clayton acted as Vice President and CFO for ADESA Inc., a $1 billion automotive remarketing and financial services company, overseeing all financial activities, a variety of operational enhancements and acquisitions. In addition, Mr. Clayton provided internal leadership of a $3 billion going-private transaction involving private equity sponsors Kelso & Company, GS Capital Partners, ValueAct Capital, and Parthenon Capital.

Before forming Emerging Capital, Mr. Clayton co-founded and was Executive Vice President, CFO and Treasurer of Building One Services Corp. Mr. Clayton was instrumental in building the company from a concept into a $1.6 billion national provider of facility services. In his role, Mr. Clayton was responsible for raising $550 million of equity capital, developing the acquisition and operational strategy and driving the acquisition and post-merger integration process for over 50 companies. Mr. Clayton also led a $350 million recapitalization plan (which involved a $100 million strategic investment by Apollo Management, establishment of a $200 million credit facility and a $350 million stock repurchase) and was an integral part of the management team that negotiated and completed the merger between Building One Services Corp. and Group Maintenance America Corp. to form Encompass Services Corp., a $3.0 billion national facility services company.

Mr. Clayton began his career at Price Waterhouse (1976-1997) where he served as an audit and business advisory services partner for nine years, working closely with the senior management teams of a wide variety of clients, as well as building a national practice in “roll-up” business combination services.

Mr. Clayton has served on the Board of Directors of Agribank, FCB, an $80 billion wholesale lender, and he currently serves as Chairman of the Farm Credit System Audit Committee. Mr. Clayton received a Bachelor of Arts degree in Accounting from Michigan State University.


John Dupuy, Managing Director and Operating Partner

Mr. Dupuy is a Managing Director and Operating Partner of Z Capital. Mr. Dupuy is a member of the Private Equity Investment/Operations Team and assists in the management and oversight of portfolio company initiatives including, but not limited to procurement, cost controls, logistic, and operations. Mr. Dupuy serves on the boards of Mrs. Fields Famous Brands, LLC , Modere, Inc., and Twin-Star International, and previously served on the board of MSDP Group, LLC, all of which are or were Z Capital portfolio companies. Mr. Dupuy has substantial experience in executing operational turnarounds and business transformations as well as devising growth strategies for middle market industrial, business services and consumer products companies in North America, Europe, Asia and South America.

Prior to Z Capital, Mr. Dupuy was an Operating Partner at H.I.G. Bayside Capital and as CEO, led the restructuring of AirNet, a cargo airline and Bayside Capital portfolio company. Prior to Bayside Capital, Mr. Dupuy was an Operating Partner at Arsenal Capital Partners where he led transportation, logistics and supply chain investment efforts. In addition, Mr. Dupuy was President of North American and Allied Van Lines and North American Logistics which were owned by SIRVA, a Clayton, Dubilier & Rice portfolio company. At SIRVA, Mr. Dupuy led several successful restructuring and turnaround efforts in North America and Europe.

Earlier in his career, Mr. Dupuy was Vice President of Strategic Planning and Chief Information Officer at Maytag, and a member of the senior team that helped transform Maytag into the industry leader in product innovation. Prior to Maytag, Mr. Dupuy was a consultant with Booz, Allen & Hamilton and A.T. Kearney where he led projects in post-merger integration, manufacturing and product line strategy, lean manufacturing, competitive analysis, turnaround management and privatization of state owned enterprises.

Mr. Dupuy received his MBA from Southern Methodist University and his BS in industrial engineering from the Georgia Institute of Technology. He is a member of the Association for Corporate Growth and PEOPEN, a forum for private equity operating partners.


Jerome Pender, Managing Director and Operating Partner

Mr. Pender is a Managing Director and Operating Partner of Z Capital. Mr. Pender is a member of the Private Equity Investment/Operations Team and assists in the management and oversight of portfolio company initiatives including, but not limited to technology. Mr. Pender’s 30 years of global IT experience includes leadership responsibilities in the public and private sector as well as extensive international experience.

Prior to joining Z Capital, Mr. Pender was responsible for the national law enforcement systems operated by the Federal Bureau of Investigation (“FBI”), including NCIC, IAFIS, NICS and supporting over 18,000 law enforcement agencies across the United States. Most recently, Mr. Pender was the Chief Information Officer of the FBI and an Executive Assistant Director, responsible for all aspects of information technology within the FBI. During his service with the FBI, Mr. Pender was awarded a Presidential Rank Award of Meritorious Executive.

Prior to these roles, Mr. Pender was an Executive Director with UBS AG (“UBS”) where he was the Global Head of IT Service Delivery for Treasury Products and Fixed income. During his time at UBS Mr. Pender was assigned to Zurich Switzerland, Tokyo Japan and London United Kingdom.

Earlier in his career, Mr. Pender was a Captain in the United States Air Force with responsibility for system development.

Mr. Pender received his Bachelor of Science degree in Computer Science from the United States Air Force Academy, where he was a Distinguished Graduate with Academic and Military Distinction. He earned his Masters of Computer Science degree from The John’s Hopkins University.


Dennis L. Roberts, Managing Director and Operating Partner

Mr. Roberts is a Managing Director and Operating Partner of Z Capital. Mr. Roberts is a member of the Private Equity Investment/Operations Team and assists in the management and oversight of portfolio company human capital initiatives. Mr. Roberts has over 30 years of extensive human capital experience in workforce transformation, talent acquisition, talent management, and due diligence and integration activities. Mr. Roberts serves on the board of Twin-Star International. He has been successful in recruiting and deploying C-suite executives in a number of industries including consumer goods, durables, energy and chemicals. Since 1999, he has held both Senior Professional of Human Resources and Global Professional of Human Resources certifications, is currently an active member of the Society for Human Resources Management and has served as an Adjunct Professor of Human Resources Management at Mercy College in Dobbs Ferry, NY. In 2009, he was a member of the HR Certification Institute (HRCI) team that wrote the new GPHR certification test for international HR practitioners.

Prior to joining Z Capital, Mr. Roberts founded and operated Human Capital Strategies, LLC, a consulting practice focusing on workforce transformation and turnaround activities. Prior to that, he was an EVP Human Capital for Bush Industries, a private equity portfolio company where he helped build the executive management team, established sourcing operations in China, and recruited and deployed senior executives in China and Germany.

Mr. Roberts holds a Bachelor of Science degree in Business Administration from University at Albany, State University of New York, a Master of Science degree in Organizational Leadership from Mercy College and studied Human Resource Development at The George Washington University in Washington, D.C.


Jeffrey P. Werner, Managing Director and Operating Partner

Mr. Werner is a Managing Director and Operating Partner of Z Capital. Mr. Werner is a member of the Private Equity Investment/Operations Team and assists in the management and oversight of portfolio company initiatives including, but not limited to the manufacturing, distribution, and services industries. Mr. Werner serves on the board of Mrs. Fields Famous Brands, LLC, a Z Capital portfolio company. Mr. Werner’s 30 years of global business experience includes CEO roles at both private equity portfolio companies and privately held firms, as well as senior executive roles at two Fortune 500 firms.

Prior to joining Z Capital, Mr. Werner was the CEO of two Sun Capital Partners portfolio companies with operations throughout Asia, Europe and the Americas. Most recently, Mr. Werner was the CEO of Perfect Timing Brands, a supplier and retailer of licensed stationery, gift and home décor products marketed by the Lang and Turner Licensing companies.

Prior to these roles, Mr. Werner was the President & CEO of Senator USA. Mr. Werner was also President of Spilo Brands, a distributor of health and beauty products.

Earlier in his career, Mr. Werner was the Vice President of Marketing for Sanford, a division of Newell Rubbermaid and Sr. Director/General Manager for ACCO Brands, a division of the Fortune Brands consumer products conglomerate. While at Newell Rubbermaid, Mr. Werner was responsible for all aspects of brand marketing/channel marketing/new product development/sponsorships & creative services.

Mr. Werner received his Bachelor of Science degree in Marketing from the University of Missouri-Columbia and his Masters of Business Administration degree in International Business from DePaul University’s Kellstadt Graduate School of Business.


Thomas P. Wicky, Managing Director and Operating Partner

Mr. Wicky is a Managing Director and Operating Partner of Z Capital. Mr. Wicky is a member of the Private Equity Investment/Operations Team and assists in the management and oversight of portfolio company initiatives including, but not limited to, leisure, hospitality and real estate industries. Mr. Wicky serves on the board of Carillon Miami Beach, a Z Capital portfolio company. Mr. Wicky has extensive global experience in these industries including the management of hotels, real estate development, repositioning and turnaround of assets.

Mr. Wicky has a forty year history in the leisure industry. Educated at several Swiss hotel management schools, Mr. Wicky’s career began in Europe where he gained valuable experience training at many premier resorts and luxury urban hotels.

Mr. Wicky has had a successful career in repositioning and turning around assets including four separate properties where he was presented with the challenge of earning the coveted Mobil 5-Star or AAA 5-Diamond awards. Through his leadership, each of the assets, including The Boca Raton Hotel & Club, The Breakers Palm Beach, The Cloister at Sea Island, Georgia and Hotel Intercontinental in Hilton Head, South Carolina, successfully gained or regained the prestigious awards.

In addition to his work in the hotel and leisure industry, Mr. Wicky has served on the boards of privately owned, corporate and equity member ownership properties. He has represented extensive real estate assets on behalf of his properties including single family homes, condominiums, hotel accommodations and membership sales. In addition to his real estate responsibilities, he has spearheaded operational aspects of recreational facilities such as golf, tennis, spas, marinas and retail outlets.

As the president or board member of many local civic organizations and cultural societies, Mr. Wicky has successfully integrated his properties with the resort’s community. His interaction with government entities at both local and state levels has been a vital part of his role as administrator. He has shared his considerable knowledge as a guest speaker at Cornell University and a lecturer at both Florida State University and Florida Atlantic College. He has continued to expand his own base of knowledge by furthering his education at Cornell University, School of Hotel Management and the University of Miami. Mr. Wicky holds a Certified Hotel Administrator degree from Michigan State University.


Aron Beach, Director and Operating Partner

Mr. Beach is a Director and operating Partner of Z Capital and is a member of the Private Equity Investment/Operations Team. Mr. Beach has substantial experience improving financial results within private equity backed turnaround companies. Mr. Beach is responsible for forensic due diligence, merger and acquisitions financial analysis, portfolio company strategic analysis and reporting.

Prior to joining Z Capital, Mr. Beach served as the CFO of ACCEL Performance Group (“ACCEL”), a branded manufacturer of aftermarket automotive performance products, sold through big-box retailers and specialty automotive distributors. In his role, Mr. Beach was an early member of the management team responsible for improving human capital, strategic planning and financial and operational process improvements. During his tenure, ACCEL realized a drastic improvement in financial results, brand strength and channel perception. Mr. Beach was an integral part of the team that negotiated and completed the sale of ACCEL to MSD Performance, a Z Capital portfolio company, in 2014.

Prior to joining ACCEL, Mr. Beach served in several roles of increasing responsibility with Thermo Fisher Scientific before leaving as Site Controller of its Matrix Technologies business. Mr. Beach began his career with Lason, Inc, now SourceHOV, a document outsourcing company acquired out of bankruptcy by Charterhouse Group.

Mr. Beach received his Bachelor of Arts degree in Accounting from Michigan State University and Masters of Business Administration degree from Northwestern University’s Kellogg School of Management.


Tammy Diehl, Director and Operating Partner

Ms. Diehl is a Director and Operating Partner of Z Capital and is a member of the Private Equity Investment/Operations Team. Ms. Diehl has substantial experience in Project Management both IT and non-IT related, and is responsible for IT program/project management for the firm.

Prior to joining Z Capital, Ms. Diehl was responsible for providing desktop support/helpdesk services for the entire US Marshals Service. Prior to the US Marshals Service, Ms. Diehl was the Special Assistant to the FBI CIO where she was for responsible for cost savings for the entire IT Branch.

Prior to joining the public sector, Ms. Diehl managed several large medical IT programs for Department of Defense and private sector. Ms. Diehl spent 4 years in the US Air Force.

Ms. Diehl has a Bachelor of Science in Business Administration/Accounting from Wayland Baptist University and holds a Master of Arts in Computer Information Systems and also received her MBA from Webster University.


Glenn Walsh, Director and Operating Partner

Mr. Walsh is a Director and Operating Partner of Z Capital and is a member of the Private Equity Investment/Operations Team. Mr. Walsh is responsible for talent acquisition on behalf of Z Capital and its portfolio companies. Mr. Walsh has substantial experience designing and implementing successful talent acquisition strategies in support of leading public and private corporations.

Prior to joining Z Capital, Mr. Walsh spent 11 years with Lang Search Partners, a boutique staffing and search firm in New York City. As a co-founder and Managing Partner, he was responsible for strategic growth of the direct hire business, completing senior contingency and retained searches across accounting, finance, operations, legal, compliance, and human resources functions. His clients included leading domestic and international banks, broker-dealers, traditional and alternative asset managers as well as industry service providers.

Prior to founding Lang, Mr. Walsh spent over 7 years in various roles of increasing responsibility at The Response Companies, a regional contingency search firm. As Senior Vice President, he developed and managed a successful interim/project staffing business with teams in New York, New Jersey and Connecticut. Mr. Walsh began his career with a global telecommunications company based in Dallas, TX where he was responsible for various marketing and advertising functions in the Hartford, CT market.

Mr. Walsh received his Bachelor of Science degree in Marketing with a concentration in sales management from Central Connecticut State University.


Nicole M. Brock, Director

Ms. Brock is a Director of Z Capital and head of investor relations and communications.

Prior to joining Z Capital Ms. Brock was a member of the management team at BDCM where she was responsible for the financial management of various funds as a senior member of the financial management team. During her eleven-year tenure with BDCM, Ms. Brock led various initiatives including fund liability management, financial modeling valuation of investments, cash management, and the closing and settlement of par and distressed investments.

Prior to her tenure at BDCM, Ms. Brock was in a senior business development role within the hospitality industry.


Rolando A. Capinpin, Jr., Director

Mr. Capinpin is a Director of Z Capital and is a member of the Private Equity Investment Team. Mr. Capinpin serves on the board of Modere, Inc., a Z Capital portfolio company. Mr. Capinpin has substantial experience in value-oriented private equity and mergers & acquisitions. Mr. Capinpin is responsible for research and analysis of existing and prospective portfolio company investments.

Prior to joining Z Capital, Mr. Capinpin was with Chilmark where he was a Vice President. At Chilmark, Mr. Capinpin provided valuations, business plans, and mergers and acquisitions analyses for both debtor and creditor assignments. Mr. Capinpin was also a member of the investment team of Chilmark Fund II and participated in the analysis and sourcing of Chilmark’s portfolio companies including International Knife & Saw, Sheffield Steel Corporation, and Simonds Industries.

Mr. Capinpin graduated from the University of Chicago with Honors, S.B. (Mathematics), A.B. (Economics), A.B. (Statistics); the University of Chicago Booth School of Business with High Honors (Graduated #1 in class), M.B.A.; Active Member of the Turnaround Management Association, the Association for Corporate Growth, and Beta Gamma Sigma.


Chaojing Chen, CFA, Director and Senior Software Engineer

Mr. Chen is a Director and Sr. Software Engineer of Z Capital and is responsible for implementation and commercialization of Z Capital’s proprietary systems. Mr. Chen has over 18 years of experience in developing distributed client-server and web applications to solve complex business problems primarily within the financial services industry.

Prior to joining Z Capital, Mr. Chen was a Senior Technology Manager, Architect and Senior Developer at Morningstar Inc. (“Morningstar”) for 15 years. At Morningstar, Mr. Chen was responsible for offshore and in-house development team management, business requirement evaluation and design, development and testing of Morningstar’s two major client facing thick client web applications, primarily utilizing C#/.Net, Java, Javascript, CSS/HTML, SQL and C++. Prior to Morningstar, Mr. Chen was a Software Engineer for two startup companies.

Mr. Chen received both his Bachelor’s and Master’s degree in Biology from Peking University, and a Master’s degree in Computer Science from DePaul University. Mr. Chen is a CFA charterholder.


Cheryl M. Gioioso, Director

Ms. Gioioso is a Director of Z Capital and is responsible for the management of legal and human resources administration.

Prior to joining Z Capital, Ms. Gioioso was the Office Manager of Storch Amini & Munves PC, a litigation boutique in New York. Ms. Gioioso was the principal administrator in charge of managing the operations of the firm, including management and oversight of the firm’s human resources, legal administration, support staff, marketing and events, and facilities.

Ms. Gioioso completed her graduate studies at The City College of New York where she earned a M.A. in English Literature. Ms. Gioioso received a B.A., with honors, from New York University.


Ying Hu, CFA, Director and Senior Software Engineer

Ms. Hu is a Director and Sr. Software Engineer of Z Capital and is involved in all facets of software design, development, testing and documentation.

Ms. Hu was previously a software engineer at ASAP where she was involved in the design and implementation of e-commerce websites and window’s desktop application with .NET technology. Prior to joining ASAP, Ms. Hu was with Deloitte & Touche LLP where she was a software developer for web applications.

Ms. Hu has a Masters degree in Mathematical Computer Science from University of Illinois at Chicago and a Bachelor’s degree in Architecture from TianJin University. Ms. Hu has Microsoft Certified Application Developer (MCAD) and Java certification and is a CFA charterholder.


June M. Johnson, C.P.A., C.T.P., Director of Finance & Treasurer

Ms. Johnson is Director of Finance & Treasurer of Z Capital and is responsible for Z Capital’s accounting and financial reporting.

Prior to joining Z Capital in December 2012, Ms. Johnson was Director of Treasury at HMX Group, where she was responsible for treasury operations, credit financing and risk management, including disbursement analysis, banking operations, cash management, cash forecasting, asset based lending and other debt financing. She also assisted in the consolidation process of the accounting function. She joined privately-held HMX Group in August 2009.

Prior to HMX Group, Ms. Johnson was Assistant Treasurer and Director of Financial Services at Hartmarx Corporation. She was responsible for all aspects of domestic and foreign treasury operations, including corporate finance, capital markets, cash management, lending relations, mergers and acquisitions, budgeting and forecasting, and pension and 401(k) investments. She was also responsible for consolidation, monthly, quarterly and annual reporting, SEC reporting and assisting with the accounting of the parent company. She joined publicly-held Hartmarx in July 1986.

Ms. Johnson received her Masters in Business Administration in Finance from DePaul University and her Bachelor of Science in Accounting from Illinois State University. Ms. Johnson received her CPA in 1988 and her CTP in 1993.


George Joseph, Director and Senior Project Manager

Mr. Joseph is a Director and Sr. Project Manager for Software Development of Z Capital and is responsible for all aspects of product development and delivery for Z Capital’s proprietary systems (ZAPP Systems). Mr. Joseph has over 15 years of software delivery experience focused on changing processes and practices to deliver software faster while maintaining quality by implementing tailored SDLC methodologies based on everything from traditional Iterative Waterfall to product focused Agile methods such as XP, Scrum and Scrumban.

Prior to joining Z Capital, Mr. Joseph was with Goldman Sachs where he was responsible for the global product roadmap and delivery of a service desk platform used by 30,000 employees globally. Mr. Joseph also led the Client Services Process Reengineering program to increase productivity and reduce errors.

Prior to Goldman Sachs, Mr. Joseph was a Sr. Software Engineer at Nortel Networks and Motorola for low-latency, high performance distributed telecommunication systems for government and corporate communication systems.

Mr. Joseph holds a Bachelor of Science in Computing Science from the University of Alberta in Canada, a Master of Science in Distributed Systems from DePaul University and an MBA from the Lake Forest Graduate School of Management.


Roger Jungst, Director, IT Infrastructure

Mr. Jungst is a Director at Z Capital and is responsible for the design and operation of the Z Capital IT infrastructure. Mr. Jungst managed core infrastructure teams for 20 years and has been managing global infrastructure teams within the financial services industry for over 20 years.

Mr. Jungst’s prior experience includes 25 years at UBS AG. There, Mr. Jungst was responsible for designing and supporting infrastructure solutions that met the businesses performance and availability needs with a low total cost of ownership. Prior to managing infrastructure teams at UBS, Mr. Jungst was a production Database Administrator at Sybase.

Mr. Jungst has a Bachelor’s degree in Computer Science Engineering from the University of Illinois at Champaign Urbana.


Matthew D. Kane, Esq., Director and Deputy General Counsel

Mr. Kane is a Director and Deputy General Counsel and a member of Investment Team of Z Capital. Mr. Kane is responsible for advising on and executing value-oriented private equity transactions in due diligence, legal oversight of portfolio companies, mergers & acquisitions, and litigation. Mr. Kane is a member of the Board of Directors for Carillon Miami Beach.

Prior to joining Z Capital, Mr. Kane was an Associate with Storch Amini & Munves PC, a litigation boutique in New York, where he advised clients in complex commercial disputes arising in the financial services industry. Mr. Kane began his career as an Associate with Willkie Farr & Gallagher LLP in New York, where he gained experience advising clients in various types of civil matters, including complex commercial, regulatory and corporate investigations, and white collar defense.

Mr. Kane holds a Juris Doctor degree with honors from the Duke University School of Law and a Bachelor’s degree with honors from Hamilton College. He is admitted to practice in New York and the District of Columbia.


Neal N. Nath, Director

Mr. Nath is a Director of Z Capital and is a member of the Private Equity Investment Team. Mr. Nath has substantial experience in value-oriented private equity and mergers & acquisitions. Mr. Nath is responsible for research and analysis of existing and prospective portfolio company investments. Mr. Nath is a member of the Board of Directors for Carillon Miami Beach.

Prior to joining Z Capital, Mr. Nath was with Houlihan Lokey (“Houlihan”) where he was a Senior Associate. At Houlihan, Mr. Nath was responsible for research, analysis, and financial modeling for both debtor and creditor engagements, including financing, mergers & acquisitions and restructuring transactions.

Prior to his time with Houlihan, Mr. Nath was with The Keystone Group (“Keystone”) where he was an Associate. At Keystone, Mr. Nath was responsible for developing and implementing turnaround plans and advising companies on mergers and acquisitions.

Mr. Nath received his Bachelor of Science in Industrial Engineering from Purdue University. Mr. Nath is a member of the Turnaround Management Association.


Conor O’Grady, CFA, C.P.A.,, Director and Senior Controller

Mr. O’Grady is a Director and Senior Controller of Z Capital and is responsible for accounting and financial reporting of Z Capital and its managed funds.

Prior to joining Z Capital in July 2011, Mr. O’Grady was the Hedge Fund Controller at Black Diamond Capital Management, L.L.C. where he was responsible for the review and preparation of monthly financial information. This included fund allocations, financial statements, investor capital accounts/reporting packages, investment valuation and determination of NAV, as well as several other responsibilities.

Mr. O’Grady was previously a Senior Auditor at Deloitte & Touche LLP from 2003 to 2008 specializing in the Insurance and Investment Management industries.

Mr. O’Grady received his Bachelors of Science degree in Accountancy from University of Illinois at Urbana-Champaign (College of Business). Mr. O’Grady is a CFA charterholder and a Certified Public Accountant. He is a member of the CFA Institute, CFA Society of Chicago, American Institute of Certified Public Accountants and Illinois CPA Society.


Elias G. Silverman, Director

Mr. Silverman is a Director of Z Capital and is a member of the Private Equity Investment Team. Mr. Silverman has experience in value-oriented private equity and mergers & acquisitions Mr. Silverman is responsible for research and analysis of existing and prospective portfolio company investments.

Prior to joining Z Capital, Mr. Silverman was with The Blackstone Group (“Blackstone”) where he was an Associate in the Restructuring & Reorganization group. Mr. Silverman provided financial advice to both debtors and creditors involved in bankruptcies and distressed situations. Mr. Silverman’s transaction experience at Blackstone includes the restructuring of OGX (a Brazilian E&P company), Edison Mission Energy, and work on several consumer retail companies.

Prior to his time with Blackstone, Mr. Silverman was with Colony Capital, a global real estate private equity firm, focused on hospitality, gaming, and property investments.

Mr. Silverman received his Masters of Business Administration in Finance from Columbia Business School and a Bachelor of Arts in Economics from Duke University.


Toby G. Stoops, C.P.A, CFA, Director

Mr. Stoops is a Director of Z Capital and is a member of the Private Equity Investment Team and is responsible for sourcing / analyzing transactions through proprietary information.

Prior to joining Z Capital, Mr. Stoops served in various roles in financial services since 2000, including special assets, underwriting, and portfolio management at Suntrust Robinson Humphrey, US Bank, GMAC and other institutions. Mr. Stoops has extensive experience in underwriting and restructuring cash flow and asset-based loans for borrowers operating in challenging environments.

Mr. Stoops received his Bachelor of Science degree in Finance from Indiana University’s Kelley School of Business and his Master of Administration degree from Northwestern’s Kellogg School of Management. In addition, he is a CFA and a CPA as well as a member of the Turnaround Management Association and the Association for Corporate Growth.


Pascale M. Thomas, Esq., Director and Assistant General Counsel

Ms. Thomas is a Director and Assistant General Counsel and a member of Investment Team of Z Capital. Ms. Thomas assists the Investment Team in due diligence, legal oversight of portfolio companies as well as compliance and fund creation.

Prior to joining Z Capital, Ms. Thomas was an Associate in the Investment Products and Derivatives Group with Sidley Austin LLP in Chicago, where she advised clients in securities, derivatives and futures related regulatory and corporate matters, including organization and operation of private investment funds and commodity pools, organization and operation of investment advisers, structured products and derivatives documentation and regulation.

Ms. Thomas holds a Juris Doctor degree from Harvard Law School and a Bachelor of Science degree in Psychology from Duke University. She is a member of the Illinois State Bar.


Maxine Wang, Director and Senior Software Engineer

Ms. Wang is a Director and Sr. Software Engineer of Z Capital with 16 years of experience and is proficient in ASP.NET, C#.NET, VisualBasic.NET and SQL Server Database as well as others.

Ms. Wang comes to us from Ansira Inc and was a member of their software developer team. Prior to this position Ms. Wang was in various software developer positions in consulting, telecom and financial services.

Ms. Wang has a B.S. in Chemical Engineering. Xiangtan Univestity -Hunan, China and a M.S. in Civil and Environmental Engineering, Hokkaido University, Sapporo, Japan. She is fluent in English, Chinese and Japanese.


Stephen G. Wrobel, Director

Mr. Wrobel is a Director of Z Capital and is a member of the Private Equity Investment Team and is responsible for investment sourcing/analyzing transactions through proprietary information.

For 15 years prior to Z Capital Mr. Wrobel worked for several international and super regional commercial banks including Inland Bank & Trust, Associated Bank, The Royal Bank of Scotland, and Fifth Third Bank, where he developed new business relationships, served on loan and risk management committees, performed credit underwriting, integrated bank acquisitions, and managed sales teams.

Prior to commercial banking Mr. Wrobel spend four years working on the floor of the Chicago Board of Trade for Merrill Lynch, Aubrey Lanston.

Mr. Wrobel received his Bachelors of Science degree in Economics from Northern Illinois University and a Masters of Business Administration from Keller Graduate School of Management.


Sergio Zepeda, Director

Mr. Zepeda is a Director of Z Capital and a member of the Private Equity Investment Team. Mr. Zepeda is responsible for research and analysis of existing and prospective portfolio company investments. Mr. Zepeda is a member of the Board of Directors for Twin-Star International.

Prior to joining Z Capital, Mr. Zepeda was with Prospect Capital Management where he participated in all aspects of deal execution including business and financial due-diligence, industry analysis, transaction structuring, and investment committee presentations to effectuate debt and control equity investments with cumulative transaction value of over $1.2 billion.

Prior to Prospect Capital, Mr. Zepeda was with TPG Credit Management (“TPG”) where he was responsible for the analysis of distressed investments. He worked closely with asset management and acquisition teams to underwrite and execute transactions in various industries including, airlines and commercial real estate.

Prior to joining TPG, Mr. Zepeda spent twelve years serving in the United States Navy.

Mr. Zepeda received a Masters of Business Administration from The University of Chicago Booth School of Business and a Bachelor of Science in Finance, summa cum laude, from DePaul University.


Jingsheng Zhang, Ph.D., Director and Senior Software Engineer

Mr. Zhang is a Director and Sr. Software Engineer of Z Capital with responsibilities of all aspects of software development life cycle (SDLC) including the requirement analysis, architecture design, implementation, testing, deployment and maintenance for all .NET applications and services.

Prior to joining Z Capital, Mr. Zhang has worked in both payment card on-demand printing and online retail industries. Mr. Zhang has over 10 years of experience in design and development of commercial quality, enterprise and e-Commerce applications, including Customer Service System (CSS), Content Management and Delivery System (CMS/CDS), and Shopping Cart, etc. Besides .Net and web technologies, Mr. Zhang is proficient in Object-Oriented Design (OOD), Service Oriented Architecture (SOA), Software as a Service (SaaS), and Object Relationship Modeling (ORM).

Mr. Zhang received a Ph.D. degree in Human Computer Interaction and a Bachelor’s degree in Computer Science from Iowa State University.


Ke Zheng, Director and Senior Database Administrator

Ms. Zheng is a Director and Senior Database Administrator at Z Capital and is responsible with all aspects of Database administration and Database development including system design, installation, upgrade, performance tuning and maintenances.

Prior to joining Z Capital, Ms. Zheng was previously a Senior Database Administrator at L-3 Communications – Electrodynamics where she was responsible for administering, maintaining and monitoring performance on all databases including Oracle and SQL Servers. Ms. Zheng was also in involved in Supporting ERP systems and creating financial reports.

Prior to joining L-3, Ms. Zheng was with Gas Technology Institute where she was a Senior Application system developer with expertise in databases, Cognos and Oracle reports.

Ms. Zheng has a Masters of Computer Science degree from DePaul University at Chicago and a Masters of Chemical Engineering degree from Tianjin University.


Yury Sandovich, Senior Associate

Mr. Sandovich is a Senior Associate of Z Capital and a member of the Private Equity Investment Team. Mr. Sandovich is responsible for research and analysis of existing and prospective portfolio company investments.

Prior to joining Z Capital, Mr. Sandovich was with Houlihan Lokey in the Financial Restructuring Group where he was an Associate. At Houlihan Lokey, Mr. Sandovich was responsible for the financial analysis, research, and other aspects of sellside and buyside mergers & acquisitions transactions, review of strategic alternatives, and debtor and creditor restructuring and distressed engagements. Mr. Sandovich analyzed and advised companies in the for-profit and not-for-profit healthcare, real estate, financial services, hospitality, consumer products, construction materials, and other industries.

Mr. Sandovich received his Honors Bachelor of Science with Highest Distinction in Finance and Accounting from Indiana University, Kelley School of Business.


Scott Andraschko, Associate

Mr. Andraschko is an Associate and Network Manager of Z Capital and is responsible for managing IT infrastructure and security for the firm.

Prior to joining Z Capital, Mr. Andraschko was Director of Technology for the Round Lake School District 116 and was responsible for all aspects of technology for the district. Mr. Andraschko has over twenty five years of experience managing and consulting for IT organizations. Prior to Round Lake School District, Mr. Andraschko was Director of Forensics for TERIS Litigation Support and Manger of the KPMG Forensic practice in Chicago.

Mr. Andraschko received his Bachelor’s degree in Electronic Engineering from DeVry University.


Erica D. Appelman, Esq., Associate and Corporate Counsel

Ms. Appelman is an Associate and Corporate Counsel and a member of the Investment Team of Z Capital. Ms. Appelman assists the Investment Team in due diligence, legal oversight of portfolio companies and compliance.

Prior to joining Z Capital, Ms. Appelman was a Litigation Associate at a boutique law firm in New York, focusing on private equity matters, securities litigation, and regulatory enforcement actions. Before transitioning to her Associate role, she worked at the same firm as a Litigation Paralegal for four years. Prior to her work in New York, Ms. Appelman served as a Litigation Assistant at Digital Evidence Group in Washington, D.C., assisting with both criminal and civil litigations.

Ms. Appelman holds a Juris Doctor degree with honors from Fordham University School of Law and was the recipient of the Adele Monaco Memorial Award upon graduation. She graduated with honors from George Washington University with a Bachelor of Arts in Sociology in 2009.

Ms. Appelman is a member in good standing of the New York State Bar and New Jersey State Bar, with admission pending in the United States District Court for the Southern District of New York.


Tommy Babella, Associate and Executive IT Support Analyst

Mr. Babella is an Associate and Executive IT Support Analyst of Z Capital and is responsible for supporting IT infrastructure and end points for the firm.

Prior to joining Z Capital, Mr. Babella was a Senior Systems Administrator with SSG Consulting and a Project Manager/Team Lead with Redsky Technologies.

Mr. Babella has over fifteen years of experience in the Information Technologies field with background in networking, project management, and telecommunications. Mr. Babella has worked in the financial healthcare and telecommunications industries.


Alex Berestenko, Associate and Business Analyst

Mr. Berestenko is an Associate and Business Analyst of Z Capital and is involved in all phases of the software development life cycle with primary focus on improving processes in analysis, testing and user support. Mr. Berestenko has over 9 years of technical experience focused on business analysis, building infrastructure and product delivery.

Prior to joining Z Capital, Mr. Berestenko was with kCura where he worked in a dual responsibility role as both Business Analyst and Sr. DevOps Engineer. There, Mr. Berestenko helped support and develop kCura’s e-discovery software for managing large volumes of electronic data and documentation. Mr. Berestenko was involved in supporting all source control, code review, build and continuous integration systems used daily by the kCura Product Development department.

Prior to kCura, Mr. Berestenko was a Systems Engineer at Trading Technologies, Inc.

Mr. Berestenko is a Certified Scrum Master and is experienced with utilizing Agile, Kanban and Waterfall methodologies. Mr. Berestenko holds a Bachelor of Science in Computer Science with a Minor in Russian Literature from DePaul University and is currently pursuing an MBA degree from Kellstadt Graduate School of Business at DePaul University.


Ketan A. Desai, Associate and Server Manager

Mr. Desai is an Associate and Server Manager of Z Capital and is responsible for supporting IT Servers/AD Infrastructure for the firm.

Prior to joining Z Capital, Mr. Desai was a Senior Systems Engineer/IT Manager with M&R Companies.

Mr. Desai has over fifteen years of experience in the Information Technologies field with a background in systems/network/infrastructure administration, project management, and consulting. Mr. Desai has worked in the manufacturing, healthcare and insurance industries.

Mr. Desai received his Bachelor’s degree in Organizational Psychology from the University of Illinois at Chicago.


Urja Desai, Associate and Junior Software Engineer

Ms. Desai is an Associate and Junior Software Engineer at Z Capital with responsibilities in all facets of software design, development, testing, maintenance and documentation.

Prior to joining Z Capital as an Associate, Ms. Desai was an intern at the firm while completing her Master’s program.
Prior to Z Capital, Ms. Desai was a Software Engineer Intern for Indigo Interactive, where she was responsible for requests from clients for an accreditation management system software and was involved in all phases of the software development life cycle, website design and database programming.

Ms. Desai received her Master of Science in Software Engineering from Loyola University Chicago and a Bachelor of Engineering in Information Technology from Gujarat University, India.


Leah Gorman, CPA,, Associate and Middle/Back Office Accountant

Ms. Gorman is an Associate and Middle/Back Office Accountant at Z Capital and is responsible for middle and back office accounting and credit operations.

Prior to joining Z Capital, Ms. Gorman was an Internal Auditor at Essendant, Inc, (“Essendant”) where she was responsible for preparation and review of SOX testing and assisting external auditor procedures.

Prior to Essendant, Ms. Gorman was an Assurance Associate at RSM US LLP, formerly McGladrey LLP, where she was part of the Financial Services team specializing in Private Equity audits.

Ms. Gorman received her Bachelor of Science in Accounting from the University of Illinois at Chicago.  Ms. Gorman obtained her CPA in September 2015.


Jessica Guzman, Associate and Desktop Support Analyst

Ms. Guzman is an Associate and Desktop Support Analyst of Z Capital and is responsible for supporting IT Infrastructure and providing desktop support for the firm.

Prior to joining Z Capital, Ms. Guzman was the Director of Infrastructure / Information Technology for a New York based law firm where she was responsible for managing a network across 13 offices with over 170 users.

Ms. Guzman has over nine years of experience in the Information Technologies field with a background in network/infrastructure administration, project management and network management. Ms. Guzman received her Bachelor’s degree in Criminal justice from Monroe College.


Tammy D. Lee, Esq., Associate and Corporate Counsel

Ms. Lee is an Associate and Corporate Counsel and a member of the Investment Team of Z Capital. Ms. Lee assists the Investment Team in due diligence, legal oversight of portfolio companies and compliance.

Prior to joining Z Capital, Ms. Lee was an associate with Mayer Brown in their Corporate & Securities group where she represented companies in a variety of corporate and transactional matters, including mergers & acquisitions, capital markets and general corporate governance.

Prior to Mayer Brown, Ms. Lee was an analyst with Citi Capital Strategies, a division of Citigroup Global Markets, where she prepared financial valuation, industry research, buyer research, and marketing materials for middle market businesses in a wide range of industries, including consumer, industrial, building products, healthcare, and technology.

Ms. Lee holds a Juris Doctor degree from Northwestern University School of Law and a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania, having graduated Summa Cum Laude.


Boyang Li, Associate

Mr. Li is an Associate and Junior Software Engineer at Z Capital with responsibilities in all facets of software design, development, testing, maintenance and documentation.

Prior to joining Z Capital, Mr. Li was a software developer intern for Anhui USTC IFLYTEK Co. Ltd, China. Mr. Li was responsible for all phases of the software development life cycle, including development of website design, windows applications along with database programming.

Mr. Li received his Bachelors of Engineering in Electronic Information Science and Technology from Hefei University of Technology, China and a Master of Science in Computer Science from Illinois Institute of Technology.


Nirav R. Patel, C.P.A., Associate and Controller

Mr. Patel is an Associate and Controller for Z Capital and is responsible for Z Capital’s accounting and financial reporting. Mr. Patel joined Z Capital in November 2013 with an extensive background in Investment Management from both a back office and audit perspective.

Prior to joining Z Capital, Mr. Patel began his career as an auditor with Deloitte & Touche, focusing on financial statement testing and preparation for a wide range of Hedge Funds and Mutual Funds. Mr. Patel subsequently transitioned into the Investment Management industry as the Senior Accountant at Guggenheim Funds, charged with administering all aspects of the monthly close cycle as well as implementing a variety of process efficiencies. Mr. Patel then progressed on to the Senior Accountant role at Citadel LLC, where he managed the cost allocation and month-end close processes, emphasizing analytical review of the P&L and related allocation methodologies.

Mr. Patel received two Bachelor of Science degrees in both Finance and Accountancy from the University of Illinois in 2006. Mr. Patel obtained his CPA in 2008.


Subhadra Ravindran, Associate and Business Analyst

Ms. Ravindran is an Associate and Business Analyst of Z Capital and is involved in all phases of the software development life cycle with primary focus on improving processes in requirements gathering and analysis and UAT. Ms. Ravindran has over 10 years of experience focused on business analysis, vendor and product management and delivery, data governance, data migration and campaign management.

Prior to joining Z Capital, Ms. Ravindran was with True Value where she worked in a dual responsibility role as both a Business Analyst and a Project Manager. There, Ms. Ravindran managed multiple projects, including Retailer Billing, Web Services, and SSO Authentication, and was responsible for creating functional requirements, RFP/RFQ and IT SOW for such projects. Ms. Ravindran effectively coordinated with Marketing and Campaign Management teams to provide technology solutions for migrating data from existing loyalty vendor to a new provider.

Prior to True Value, Ms. Ravindran was a Lead IT BA with various financial clients: Northern Trust, High Tower Advisors, Citi Retail Services, J.P. Morgan & Chase, and Discover Financial Services.

Ms. Ravindran received her Bachelor of Science degree from University of Madras. She is also an Oracle Certified Associate.


Sowmya D. Sama, Associate

Ms. Sama is an Associate and Software Engineer at Z Capital with responsibilities in all facets of software design, development, testing, maintenance and documentation.

Prior to joining Z Capital, Ms. Sama was a software developer for Novitas Business Technology LLC, Digital Info Bytes Limited, and Tata Consultancy Services Limited. Ms. Sama was responsible for all phases of the software development life cycle, to include development of website design, windows and mobile applications along with database programming.

Ms. Sama received her Bachelors of Technology in Electronics and Communication Engineering from Amrita Vishwa Vidyapeetham, India and a Masters of Science in Software Engineering from Loyola University Chicago.


Christel Sanchez, CPA, Associate and Tax Manager

Ms. Sanchez is an Associate and the Tax Manager at Z Capital and is responsible for coordinating all aspects of tax reporting.

Prior to joining Z Capital, Ms. Sanchez was the Tax Manager at Sawdust Investment Management Corp. where she was responsible for facilitating the tax compliance process.

Ms. Sanchez was previously an associate at Deloitte Tax, LLP from 2005 to 2007 specializing in the Financial Services industry.

Ms. Sanchez received both her Masters of Science with a Specialization in Taxation and her Bachelors of Science in Accountancy from University of Illinois at Urbana-Champaign (College of Business). Ms. Sanchez obtained her CPA in 2007.


Kevin Spriggel, C.P.A., Associate and Controller

Mr. Spriggel is an Associate and Controller at Z Capital and is responsible for investment accounting and financial reporting.

Prior to joining Z Capital, Mr. Spriggel was a senior accountant at Rock Creek Group, where he oversaw fund accounting and reporting, and gained extensive experience in accounting for investments in emerging markets.

From 2007 to 2010, Mr. Spriggel worked at Custom House Fund Administration, as the MLRO of the Chicago office, overseeing investor reporting for money laundering and due diligence. He also worked as a fund accountant and had a short stint on the shareholder services team. From 2006 to 2007 he worked as a fund accountant at Trident Financials Services.

Mr. Spriggel received his B.S. in Accountancy from Western Michigan University in 2006.


Marc Tagala, Associate and Web Developer

Mr. Tagala is an Associate and Web Developer of Z Capital and is responsible for all aspects of Z Capital Group and ZAPP Systems website and mobile development.

Prior to joining Z Capital, Mr. Tagala was the lead programmer for Magnani Continuum Marketing (“Magnani”). At Magnani, Mr. Tagala developed mobile (iOS, Android) applications, web applications and maintained existing web applications.

Mr. Tagala received his Bachelor of Engineering in Computer Engineering from University of Phoenix.


Octavio Vargas, Associate and Staff Accountant

Mr. Vargas is an Associate and Staff Accountant for Z Capital and is responsible for accounting and financial reporting.

Prior to joining Z Capital, Mr. Vargas was a Trade Payables Specialist at Arthur J Gallagher & Co. where he was responsible for the trade payables of 14 branches. This included expediting the resolution of billing discrepancies, processing payables, and serving as the primary contact with assigned insurance markets. Mr. Vargas began his career as a Licensed Personal Banker with JPMorgan Chase & Co.

Mr. Vargas received his Masters of Business Administration from Roosevelt University’s Walter E. Heller College of Business and his Bachelor of Science in Marketing from Northeastern Illinois University.


Lu Wang, Associate

Mr. Wang is an Associate and Junior Software Engineer at Z Capital and is responsible for all aspects of ZAPP software development.

Prior to joining Z Capital, Mr. Wang was a technical intern at Will, Janney, Elstner Associates Inc. (“WJE”) an engineering firm. At WJE, Mr. Wang assisted in the development of WJE’s next generation software systems along with the data migration from the older generation of the system.

Mr. Wang received his Bachelors of Engineering in Computer Engineering from North China Institute of Aerospace Engineering and a Master of Science in Computer Science from Illinois Institute of Technology.


Taylor S. Webb, Esq., Associate and Corporate Counsel

Mr. Webb is an Associate and Corporate Counsel and a member of the Investment Team of Z Capital. Mr. Webb assists the Investment Team in due diligence, legal oversight of portfolio companies and compliance.

Prior to joining Z Capital, Mr. Webb was an associate with Chapman and Cutler LLP in their Banking Department where he worked with foreign and domestic credit providers in municipal, non-profit, higher education and healthcare financings.

Mr. Webb holds a Juris Doctor degree with honors from the University of Michigan Law School and a Bachelor of Science in Business: Finance and Economics, summa cum laude, from Liberty University.