N3 Opportunity Fund I, LP;
Pennybacker II, LP; Pennybacker III, LP;
Pennybacker V, LP; Pennybacker EIV, LP;
Pennybacker Credit I, LP;
Pennybacker Real Estate Credit II, LP:
Access PortalPennybacker II, LP; Pennybacker III, LP;
Pennybacker V, LP; Pennybacker EIV, LP;
Pennybacker Credit I, LP;
Pennybacker Real Estate Credit II, LP:
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Pennybacker IV, LP:
Access PortalPennybacker VI, LP;
Pennybacker Evergreen Partners, LP:
Access PortalPennybacker Evergreen Partners, LP:
The Pennybacker Way.
The interests of our tenants, teachers, and team, the 3Ts, inspire us to improve and consistently exceed our goals. We believe that transparency and the continuous search for value through the pursuit of repeatable outcomes is vital. We intentionally cultivate an environment that encourages deep analysis, challenges conventions, and rewards innovation to improve the lives of our 3Ts.
The people who make it possible.
Leadership
Timothy P. Berry
Founder, Chief Executive Officer & Co-Chief Investment Officer
Timothy P. Berry
Founder, Chief Executive Officer & Co-Chief Investment Officer
Joined 2006
About
Tim Berry is the Founder, Chief Executive Officer and Co-Chief Investment Officer of Pennybacker Capital, a real assets investment management firm with over $3 billion in assets under management. Since Pennybacker’s inception in 2006, Tim has led the firm’s execution and management of $8+ billion of real asset investments across various strategies, sectors, and geographies. Tim provides overarching strategic vision and directional leadership across all functional business units, orchestrates overall team building and advances the firm’s culture. With over 19 years of real estate investing experience, Tim leads investment strategy development and is head of the Firm’s Investment Committee.
Tim’s early career and professional training began as an investment banker in KPMG’s Corporate Finance Division. He later joined Qualcomm’s Strategic Investments Group and then worked as a restructuring advisor for Deloitte. Tim is a member of the McCombs School of Business Dean’s Advisory Council, Pension Real Estate Association, Columbia Business School Real Estate Circle, Young Presidents’ Organization, and the Executive Council of the Real Estate Center at the University of Texas at Austin. He is engaged in numerous civic and charitable endeavors and is most passionate about his family.
Tim completed his undergraduate studies in Accounting at the University of Houston. He earned a Master’s degree in Professional Accounting from the McCombs School of Business at the University of Texas at Austin. He also holds dual MBAs from Columbia Business School and London Business School.
Tim’s early career and professional training began as an investment banker in KPMG’s Corporate Finance Division. He later joined Qualcomm’s Strategic Investments Group and then worked as a restructuring advisor for Deloitte. Tim is a member of the McCombs School of Business Dean’s Advisory Council, Pension Real Estate Association, Columbia Business School Real Estate Circle, Young Presidents’ Organization, and the Executive Council of the Real Estate Center at the University of Texas at Austin. He is engaged in numerous civic and charitable endeavors and is most passionate about his family.
Tim completed his undergraduate studies in Accounting at the University of Houston. He earned a Master’s degree in Professional Accounting from the McCombs School of Business at the University of Texas at Austin. He also holds dual MBAs from Columbia Business School and London Business School.
Vince P. Reyna, CFA
Senior Principal &
Co-Chief Investment Officer
Co-Chief Investment Officer
Vince P. Reyna, CFA
Senior Principal &
Co-Chief Investment Officer
Co-Chief Investment Officer
Joined 2007
About
Vince Reyna oversees strategy, process, and partnerships along the continuum of Pennybacker Capital’s investments. He brings business and technical acumen to sourcing, closing, underwriting, and analyzing deal structures. Vince closely monitors existing investments and is a member of the firm’s Investment Committee.
Vince joined Pennybacker Capital subsequent to his tenure as vice president and senior underwriter with CIT Corporate Finance. At CIT, he analyzed and structured asset and cash flow based loans to middle market companies.
Prior to CIT, Vince helped Prudential Capital Group originate, analyze, and monitor cash-flow loans to middle market companies. His earliest private equity experience was marketing limited partnership interests for private equity funds at JPMorgan.
Vince earned his undergraduate degree in Astronautical Engineering from the U.S. Air Force Academy, a master’s degree in Electrical Engineering from the Air Force Institute of Technology, and an MBA from McCombs School of Business at the University of Texas at Austin. He holds the Chartered Financial Analyst designation and serves on the Small Scale Development Council of the Urban Land Institute.
Vince joined Pennybacker Capital subsequent to his tenure as vice president and senior underwriter with CIT Corporate Finance. At CIT, he analyzed and structured asset and cash flow based loans to middle market companies.
Prior to CIT, Vince helped Prudential Capital Group originate, analyze, and monitor cash-flow loans to middle market companies. His earliest private equity experience was marketing limited partnership interests for private equity funds at JPMorgan.
Vince earned his undergraduate degree in Astronautical Engineering from the U.S. Air Force Academy, a master’s degree in Electrical Engineering from the Air Force Institute of Technology, and an MBA from McCombs School of Business at the University of Texas at Austin. He holds the Chartered Financial Analyst designation and serves on the Small Scale Development Council of the Urban Land Institute.
Thomas H. Beier, CPA
Principal,
President
President
Thomas H. Beier, CPA
Principal,
President
President
Joined 2006
About
Thomas Beier works closely with the firm’s CEO and CIO to develop Pennybacker’s investment strategy. He leads the Investment and Portfolio Optimization Teams in identifying investment opportunities, establishing respective business plans, and evolving execution strategies to generate optimal returns. He is a member of the Firm’s Investment Committee and Innovation Committee, directing research and adoption of emerging technologies to improve investment analysis, property performance, and portfolio management.
Before joining Pennybacker at inception, Thomas was a financial associate at N3 Development, a national real estate firm. His valued contributions at N3 included financial acquisition due diligence and securing construction financing. He also evaluated entity and project-level financial performance and capital structure. Thomas initiated his real estate industry focus in the Assurance and Advisory Business Services unit of Ernst & Young.
Thomas completed the Program for Leadership Development at Harvard Business School, an Executive Education Program designed to accelerate the development of high-potential leaders. Thomas graduated Summa Cum Laude from Texas Christian University with a Bachelor of Business Administration degree in Finance and Accounting. He is also a Certified Public Accountant, serves on the Small Scale Development Council of the Urban Land Institute, and is a member of the National Association of Real Estate Investment Managers.
Before joining Pennybacker at inception, Thomas was a financial associate at N3 Development, a national real estate firm. His valued contributions at N3 included financial acquisition due diligence and securing construction financing. He also evaluated entity and project-level financial performance and capital structure. Thomas initiated his real estate industry focus in the Assurance and Advisory Business Services unit of Ernst & Young.
Thomas completed the Program for Leadership Development at Harvard Business School, an Executive Education Program designed to accelerate the development of high-potential leaders. Thomas graduated Summa Cum Laude from Texas Christian University with a Bachelor of Business Administration degree in Finance and Accounting. He is also a Certified Public Accountant, serves on the Small Scale Development Council of the Urban Land Institute, and is a member of the National Association of Real Estate Investment Managers.
Lindsey Jacot
Principal, Chief Financial Officer & Chief Compliance Officer
Lindsey Jacot
Principal,
Chief Financial Officer & Chief Compliance Officer
Chief Financial Officer & Chief Compliance Officer
Joined 2019
About
Lindsey Jacot is responsible for preparation of the company’s fiscal operating plans and forecasts and coordinates finance and reporting activity as well as compliance. She manages cash requirements detailed by strategy and builds and maintains predictive fund level planning tools and models.
Prior to joining Pennybacker, Lindsey served as the Executive Vice President of Finance and Chief Compliance Officer for Titan Fund Management LLC, an investment advisor specializing in the management of real estate investments. She was responsible for structuring Titan Development Real Estate Fund I as well as the firm’s financial strategy, cash flow management, legal and fund administration relationships and compliance. Previously, she led corporate mergers and acquisitions analytics and forecasting for a bank holding company as Vice President of Financial Planning and Strategic Management. There she identified and evaluated investments to deploy $350 million in equity, growing bank assets from $200 million to over $4 billion.
Lindsey holds a Bachelor of Science in Applied Mathematics and an MBA from the University of New Mexico. Additionally, she holds a Master of Science in Operations Research with a focus on Financial Engineering from Columbia University.
Prior to joining Pennybacker, Lindsey served as the Executive Vice President of Finance and Chief Compliance Officer for Titan Fund Management LLC, an investment advisor specializing in the management of real estate investments. She was responsible for structuring Titan Development Real Estate Fund I as well as the firm’s financial strategy, cash flow management, legal and fund administration relationships and compliance. Previously, she led corporate mergers and acquisitions analytics and forecasting for a bank holding company as Vice President of Financial Planning and Strategic Management. There she identified and evaluated investments to deploy $350 million in equity, growing bank assets from $200 million to over $4 billion.
Lindsey holds a Bachelor of Science in Applied Mathematics and an MBA from the University of New Mexico. Additionally, she holds a Master of Science in Operations Research with a focus on Financial Engineering from Columbia University.
Jason Dean
Principal,
Head of Real Estate Portfolio Optimization
Head of Real Estate Portfolio Optimization
Jason Dean
Principal,
Head of Real Estate Portfolio Optimization
Head of Real Estate Portfolio Optimization
Joined 2014
About
Jason Dean works closely with the CEO, President, CFO, and Chief of Staff to develop and evolve corporate strategy. He leads the Real Estate and Technology & Data Analytics teams in carrying out the company’s vision, the evolution of Pennybacker Alpha, and investment execution to generate optimal returns. He is a member of Pennybacker Way, Innovation, ESG, and Valuation Committees.
Jason has over 15 years of commercial real estate experience and has extensive knowledge of the real estate investment, management, development and construction processes. His experience extends across all major asset classes including multifamily, industrial, office, retail, senior housing, and rent-restricted affordable housing.
Prior to Pennybacker, Jason held a graduate internship in the investment and development group at Grosvenor in San Francisco. At Grosvenor, he evaluated more than $600 million in multifamily, office, and mixed-use development and acquisition opportunities. He was previously a Director at AIMCO where he guided an $80 million multifamily re-development and was responsible for asset management of AIMCO's Bay Area portfolio of more than 2,500 multifamily units. His career began in project management and construction where he managed ground-up, re-development and tenant improvement projects across property types.
Jason earned his MBA from the Haas School of Business at the University of California, Berkeley, with an emphasis in real estate and finance. As an undergraduate at Purdue University, he achieved a BS in Construction Engineering with a minor in Mechanical Engineering. Jason is an active member of the Urban Land Institute and the National Association of Real Estate Investment Managers where he serves on the Data & Information Management committee.
Jason has over 15 years of commercial real estate experience and has extensive knowledge of the real estate investment, management, development and construction processes. His experience extends across all major asset classes including multifamily, industrial, office, retail, senior housing, and rent-restricted affordable housing.
Prior to Pennybacker, Jason held a graduate internship in the investment and development group at Grosvenor in San Francisco. At Grosvenor, he evaluated more than $600 million in multifamily, office, and mixed-use development and acquisition opportunities. He was previously a Director at AIMCO where he guided an $80 million multifamily re-development and was responsible for asset management of AIMCO's Bay Area portfolio of more than 2,500 multifamily units. His career began in project management and construction where he managed ground-up, re-development and tenant improvement projects across property types.
Jason earned his MBA from the Haas School of Business at the University of California, Berkeley, with an emphasis in real estate and finance. As an undergraduate at Purdue University, he achieved a BS in Construction Engineering with a minor in Mechanical Engineering. Jason is an active member of the Urban Land Institute and the National Association of Real Estate Investment Managers where he serves on the Data & Information Management committee.
Richard Long
Principal,
Portfolio Manager, Evergreen
Portfolio Manager, Evergreen
Richard Long
Principal,
Portfolio Manager, Evergreen
Portfolio Manager, Evergreen
Joined 2014
About
Richard Long is a member of Pennybacker’s Leadership Team and responsible for the strategic direction and performance of Pennybacker Evergreen Partners, LP. He is focused on sourcing, structuring, and executing on investment opportunities across growth markets in the United States. He is a member of the Firm’s Investment Committee.
Since joining Pennybacker in 2014, Richard has been directly involved in over 83 separate transactions totaling over $1.3 billion of committed equity. Richard has over 15 years of commercial real estate experience, including acquisitions, ground-up development, and special situations. He has extensive experience investing across all major asset classes, including multifamily, industrial, office, retail, senior housing, and rent-restricted affordable housing.
Prior to Pennybacker, Richard held a graduate internship at Invesco Real Estate in Dallas, TX where he evaluated structured debt and equity investments on behalf of a $1.5 billion opportunity fund. Before attending business school, Richard served in the development group at Vornado Realty Trust in Washington, DC. At Vornado, he contributed to the strategic planning and redevelopment of 5 million square feet of office and over 4,000 multifamily units. Richard began his career at Walker & Dunlop in Bethesda, MD where he helped arrange debt and equity financing across property types.
Richard holds a BA in Economics from the University of Virginia and a MBA from the McCombs School of Business at the University of Texas at Austin.
Since joining Pennybacker in 2014, Richard has been directly involved in over 83 separate transactions totaling over $1.3 billion of committed equity. Richard has over 15 years of commercial real estate experience, including acquisitions, ground-up development, and special situations. He has extensive experience investing across all major asset classes, including multifamily, industrial, office, retail, senior housing, and rent-restricted affordable housing.
Prior to Pennybacker, Richard held a graduate internship at Invesco Real Estate in Dallas, TX where he evaluated structured debt and equity investments on behalf of a $1.5 billion opportunity fund. Before attending business school, Richard served in the development group at Vornado Realty Trust in Washington, DC. At Vornado, he contributed to the strategic planning and redevelopment of 5 million square feet of office and over 4,000 multifamily units. Richard began his career at Walker & Dunlop in Bethesda, MD where he helped arrange debt and equity financing across property types.
Richard holds a BA in Economics from the University of Virginia and a MBA from the McCombs School of Business at the University of Texas at Austin.
Alexander Zabik
Principal,
Portfolio Manager, Real Estate Credit
Portfolio Manager, Real Estate Credit
Alexander Zabik
Principal,
Portfolio Manager, Real Estate Credit
Portfolio Manager, Real Estate Credit
Joined 2018
About
Alexander Zabik has over 28 years of experience in the commercial real estate investment and debt capital markets sectors, focused on sourcing and managing high-yield and value-add real estate debt products. Alexander’s CRE debt transaction experience has spanned both the United States and Europe. His track record consists of over $4.5 billion of investments in over 167 separate transactions secured by all commercial real estate property types.
Alexander began his private equity investment career as a Managing Director of the BlackRock, Inc. Real Estate Debt Group. During his BlackRock tenure, he was responsible for the development and growth of the high-yield commercial real estate debt business where he originated and managed approximately $4 billion of investments including bridge loans, mezzanine loans, B-notes and preferred equity for all high-yield commercial debt vehicles. Alexander co-founded Carbon Capital, Inc., the firm’s first private equity mezzanine debt fund and its successor fund, Carbon Capital II where he served as portfolio manager and raised capital from institutional clients and pension funds.
Prior to BlackRock, Alexander’s commercial real estate experience included serving as advisor and underwriter on over $15 billion of performing and non-performing commercial mortgage securitization transactions for the RTC and as a senior member of the Structured Finance Group at Fitch Investors Service, Inc.
Alexander is a member of the Urban Land Institute, Pension Real Estate Association and the Real Estate Lenders Association. Alexander received a B.A. degree from Boston University and an M.B.A. in Finance from Babson College.
Alexander began his private equity investment career as a Managing Director of the BlackRock, Inc. Real Estate Debt Group. During his BlackRock tenure, he was responsible for the development and growth of the high-yield commercial real estate debt business where he originated and managed approximately $4 billion of investments including bridge loans, mezzanine loans, B-notes and preferred equity for all high-yield commercial debt vehicles. Alexander co-founded Carbon Capital, Inc., the firm’s first private equity mezzanine debt fund and its successor fund, Carbon Capital II where he served as portfolio manager and raised capital from institutional clients and pension funds.
Prior to BlackRock, Alexander’s commercial real estate experience included serving as advisor and underwriter on over $15 billion of performing and non-performing commercial mortgage securitization transactions for the RTC and as a senior member of the Structured Finance Group at Fitch Investors Service, Inc.
Alexander is a member of the Urban Land Institute, Pension Real Estate Association and the Real Estate Lenders Association. Alexander received a B.A. degree from Boston University and an M.B.A. in Finance from Babson College.
Edvin Beasley
Managing Director &
Portfolio Manager, Value Funds
Portfolio Manager, Value Funds
Edvin Beasley
Managing Director &
Portfolio Manager,
Value Funds
Portfolio Manager,
Value Funds
Joined 2020
About
Edvin Beasley is responsible for the performance of Pennybacker’s value platform. He focuses on investment identification and execution of property business plans. Edvin is a member of the firm’s Diversity, Equity and Inclusion Committee.
Prior to Pennybacker, Edvin spent nine years at Stream Realty Partners in Austin, Texas where he was responsible for the strategic direction and operation of their office division. In this role, Edvin oversaw a portfolio of nearly five million square feet of Class A office space and advised both Stream and third-party clients in the valuation and underwriting of developments and acquisitions throughout the region. Edvin was recognized numerous times as a “Heavy Hitter” by the Austin Business Journal. Before joining Stream, Edvin worked for Trammell Crow Company in Washington, D.C., where he represented landlords and tenants throughout the Mid-Atlantic in both suburban and urban markets. He began his career at Deloitte concentrating on commercial real estate property tax, valuing assets for the development of tax appeal cases.
Edvin completed the Program for Leadership Development at Harvard Business School and received a BBA in Economics from Texas Tech University. He remains active with Tech’s Rawls College of Business and is a member of the Rawls Advisory Council. He is also a member of the Seton Fund Board of Trustees, NAIOP Austin Chapter Board and ULI Austin Advisory Board.
Prior to Pennybacker, Edvin spent nine years at Stream Realty Partners in Austin, Texas where he was responsible for the strategic direction and operation of their office division. In this role, Edvin oversaw a portfolio of nearly five million square feet of Class A office space and advised both Stream and third-party clients in the valuation and underwriting of developments and acquisitions throughout the region. Edvin was recognized numerous times as a “Heavy Hitter” by the Austin Business Journal. Before joining Stream, Edvin worked for Trammell Crow Company in Washington, D.C., where he represented landlords and tenants throughout the Mid-Atlantic in both suburban and urban markets. He began his career at Deloitte concentrating on commercial real estate property tax, valuing assets for the development of tax appeal cases.
Edvin completed the Program for Leadership Development at Harvard Business School and received a BBA in Economics from Texas Tech University. He remains active with Tech’s Rawls College of Business and is a member of the Rawls Advisory Council. He is also a member of the Seton Fund Board of Trustees, NAIOP Austin Chapter Board and ULI Austin Advisory Board.
Sam Warfield
Managing Director,
Head of Infrastructure
Head of Infrastructure
Sam Warfield
Managing Director,
Head of Infrastructure
Head of Infrastructure
Joined 2022
About
Sam Warfield leads Pennybacker Critical Infrastructure Partners and brings a deep track record of direct infrastructure investing experience.
Prior to Pennybacker, Sam was Managing Director, Head of U.S. Investments at Arroyo Investors—a leading middle-market private equity firm focused on power and energy infrastructure assets.
Prior to Arroyo, Mr. Warfield was a senior corporate associate at Simpson Thacher & Bartlett LLP in New York, where his practice focused on M&A transactions in the power and infrastructure sector. Mr. Warfield was recognized in 2015 as a “Rising Star” in M&A in the New York metro area by Super Lawyers magazine. Mr. Warfield also clerked at the U.S. Securities & Exchange Commission in the Department of Investment Management in Washington D.C.
Mr. Warfield received his Bachelor of Science in Finance magna cum laude from the University of Florida and his Juris Doctor magna cum laude from the University of Florida Levin College of Law. Mr. Warfield is also a member of the University of Florida Hall of Fame.
Prior to Pennybacker, Sam was Managing Director, Head of U.S. Investments at Arroyo Investors—a leading middle-market private equity firm focused on power and energy infrastructure assets.
Prior to Arroyo, Mr. Warfield was a senior corporate associate at Simpson Thacher & Bartlett LLP in New York, where his practice focused on M&A transactions in the power and infrastructure sector. Mr. Warfield was recognized in 2015 as a “Rising Star” in M&A in the New York metro area by Super Lawyers magazine. Mr. Warfield also clerked at the U.S. Securities & Exchange Commission in the Department of Investment Management in Washington D.C.
Mr. Warfield received his Bachelor of Science in Finance magna cum laude from the University of Florida and his Juris Doctor magna cum laude from the University of Florida Levin College of Law. Mr. Warfield is also a member of the University of Florida Hall of Fame.
Andrew Knox
Managing Director,
Head of Capital Formation
Head of Capital Formation
Andrew Knox
Managing Director,
Head of Capital Formation
Head of Capital Formation
Joined 2022
About
Andrew leads the Pennybacker Capital Formation team’s efforts to develop and foster relationships with the firm’s existing and prospective limited partners.
Andrew has over 15 years of real estate experience across capital formation, client service, acquisitions, and brokerage. Prior to Pennybacker, Andrew spent over 10 years at Stockbridge Capital Group as a Senior Vice President and Head of Capital Formation & Client Service for the firms Core and Value Platform. Prior to Stockbridge, Andrew was an acquisitions associate at Preferred Real Estate Funds and started his career at Ackerman & Company, a regional real estate brokerage firm in Atlanta.
Andrew graduated with a BA from Wake Forest University where he was a member of the university’s baseball team.
Andrew has over 15 years of real estate experience across capital formation, client service, acquisitions, and brokerage. Prior to Pennybacker, Andrew spent over 10 years at Stockbridge Capital Group as a Senior Vice President and Head of Capital Formation & Client Service for the firms Core and Value Platform. Prior to Stockbridge, Andrew was an acquisitions associate at Preferred Real Estate Funds and started his career at Ackerman & Company, a regional real estate brokerage firm in Atlanta.
Andrew graduated with a BA from Wake Forest University where he was a member of the university’s baseball team.
Rish Gosine
Managing Director, Head of Alpha Investment Intelligence and Innovation (AI3)
Rish Gosine
Managing Director, Head of Alpha Investment Intelligence and Innovation (AI3)
Joined 2023
About
Rish Gosine leads the Technology and Data Analytics team. He has over 17 years of experience in the data and analytics field establishing, growing, and leading high-performing teams at several Fortune 500 companies, including Best Buy, Whole Foods Market, Macy’s / Bloomingdale’s, and Nike. With his experience, Rish spearheads the evolution of Pennybacker α™ to push the firm to the frontier as a market leader that effectively leverages advanced analytics for decision intelligence.
His career has grown concurrently with the rapid evolution of technology and data, enabling him to develop the skills necessary to create true data-driven cultures and products at an enterprise level serving a multitude of stakeholders. Rish brings leadership across data science and artificial intelligence, analytics, engineering, and governance. Prior to joining Pennybacker, his roles at major retailers focused on digital transformation and conducting highly precise analyses, leveraging predictive machine-learning and artificial intelligence models to make strategic and operating business decisions.
Rish completed his undergraduate degree at The University of Texas at Austin studying historical entrepreneurship and business and his MBA at the University of Minnesota – Twin Cities with a focus on Information and Decision Sciences. He currently serves on the board for The University of Texas at Austin's McCombs School of Business and Emory University’s Goizueta Business School, advising the Master of Science in Business Analytics Program for each.
His career has grown concurrently with the rapid evolution of technology and data, enabling him to develop the skills necessary to create true data-driven cultures and products at an enterprise level serving a multitude of stakeholders. Rish brings leadership across data science and artificial intelligence, analytics, engineering, and governance. Prior to joining Pennybacker, his roles at major retailers focused on digital transformation and conducting highly precise analyses, leveraging predictive machine-learning and artificial intelligence models to make strategic and operating business decisions.
Rish completed his undergraduate degree at The University of Texas at Austin studying historical entrepreneurship and business and his MBA at the University of Minnesota – Twin Cities with a focus on Information and Decision Sciences. He currently serves on the board for The University of Texas at Austin's McCombs School of Business and Emory University’s Goizueta Business School, advising the Master of Science in Business Analytics Program for each.
Jackie Mulvihill
Managing Director, Corporate Strategy and Operations
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Jackie Mulvihill
Managing Director, Corporate Strategy and Operations
Joined 2021
About
Jackie Mulvihill leads Pennybacker’s corporate strategy initiatives and oversees corporate operations. Jackie works closely with Pennybacker's leadership to develop, implement and execute long-term strategic goals and respond to the competitive real assets investment landscape.
Prior to joining Pennybacker, Jackie was an investor at Stone Point Capital, where she focused on private equity investments in real estate finance and services and asset management companies. Her responsibilities included sourcing and underwriting potential investments and business plan execution. She started her career as an investment banking analyst at Bank of America in New York City.
Jackie graduated from the University of Texas at Austin with a BA with Honors in Economics.
Prior to joining Pennybacker, Jackie was an investor at Stone Point Capital, where she focused on private equity investments in real estate finance and services and asset management companies. Her responsibilities included sourcing and underwriting potential investments and business plan execution. She started her career as an investment banking analyst at Bank of America in New York City.
Jackie graduated from the University of Texas at Austin with a BA with Honors in Economics.
Team
Real Estate
Steven Parrinello
Managing Director,
Investments
Investments
Steven Parrinello
Managing Director,
Investments
Investments
Joined 2020
About
Steven has over 15 years of experience in the commercial real estate debt market across a variety of loan profiles, both senior and subordinate debt. He has financed all major property types with significant experience across various U.S. property markets.
Prior to Pennybacker, Steven worked at Guggenheim Commercial Real Estate Finance focusing on originations across Guggenheim’s lending products including life company, CMBS, agency, bridge and construction loans. During his tenure at Guggenheim, Steven originated and closed over $1.8 billion of on-balance sheet permanent, CMBS, bridge and construction loans. Steven also assisted in the asset management activities related to the on-balance portfolio including asset management requests, monthly loan advances and loan surveillance.
Prior to joining Guggenheim, Steven was head of originations at Hudson Realty Capital, a real estate private equity fund manager with more than $2.5 billion of assets under management. Hudson’s activities include originating and acquiring high-yield, special-situation debt and mezzanine loans. During his tenure at Hudson, Steven originated and closed over $400 million in bridge and construction loans.
Prior to joining Hudson, Steven was at CapitalSource Finance for 6 years, where he underwrote and closed over $1 billion of loans for a wide variety of property types including perm, bridge and construction loans.
Steven is a member of the Mortgage Bankers Association, New York Private Equity Network and the Real Estate Finance Association of Connecticut. Steven received a B.B.A. from Pace University and a M.S. in Real Estate Finance and Development from New York University. Steven is a licensed real estate broker in New York, California and Pennsylvania.
Prior to Pennybacker, Steven worked at Guggenheim Commercial Real Estate Finance focusing on originations across Guggenheim’s lending products including life company, CMBS, agency, bridge and construction loans. During his tenure at Guggenheim, Steven originated and closed over $1.8 billion of on-balance sheet permanent, CMBS, bridge and construction loans. Steven also assisted in the asset management activities related to the on-balance portfolio including asset management requests, monthly loan advances and loan surveillance.
Prior to joining Guggenheim, Steven was head of originations at Hudson Realty Capital, a real estate private equity fund manager with more than $2.5 billion of assets under management. Hudson’s activities include originating and acquiring high-yield, special-situation debt and mezzanine loans. During his tenure at Hudson, Steven originated and closed over $400 million in bridge and construction loans.
Prior to joining Hudson, Steven was at CapitalSource Finance for 6 years, where he underwrote and closed over $1 billion of loans for a wide variety of property types including perm, bridge and construction loans.
Steven is a member of the Mortgage Bankers Association, New York Private Equity Network and the Real Estate Finance Association of Connecticut. Steven received a B.B.A. from Pace University and a M.S. in Real Estate Finance and Development from New York University. Steven is a licensed real estate broker in New York, California and Pennsylvania.
Patrick Rippe
Managing Director,
Portfolio Optimization
Portfolio Optimization
Pat Rippe
Managing Director,
Portfolio Optimization
Portfolio Optimization
Joined 2019
About
Pat Rippe is a member of the portfolio optimization team where he leverages his previous experience with strategy development, project management, leasing and operations. He is a member of the firm's Innovation Committee and is located in the Denver office.
Prior to Pennybacker, Pat led asset management and development for Tishman Speyer in Southern California where he was responsible for developing and implementing asset strategy for a portfolio comprising 11 assets totaling 3 million square feet of Class A creative office space. In this role, Pat led several major redevelopments and renovations of these assets, oversaw leasing and property management, coordinated debt strategies, and managed partner relationships. Pat originally joined Tishman Speyer out of business school as a member of the Leadership Development Program and was then promoted to director in the New York development group. In this role, he was responsible for underwriting and managing major development and redevelopment projects including office, hospitality, and multifamily. Prior to business school, Pat spent 5 years with JLL as a member of the development and asset strategy group in Chicago and as a member of the tenant representation group in Los Angeles where he specialized in office leasing.
Pat holds an MBA from the Ross School of Business at the University of Michigan where he graduated with distinction. Pat holds a Bachelor of Science in Business Administration with a dual major in Finance and Real Estate from the University of Missouri where he graduated cum laude.
Prior to Pennybacker, Pat led asset management and development for Tishman Speyer in Southern California where he was responsible for developing and implementing asset strategy for a portfolio comprising 11 assets totaling 3 million square feet of Class A creative office space. In this role, Pat led several major redevelopments and renovations of these assets, oversaw leasing and property management, coordinated debt strategies, and managed partner relationships. Pat originally joined Tishman Speyer out of business school as a member of the Leadership Development Program and was then promoted to director in the New York development group. In this role, he was responsible for underwriting and managing major development and redevelopment projects including office, hospitality, and multifamily. Prior to business school, Pat spent 5 years with JLL as a member of the development and asset strategy group in Chicago and as a member of the tenant representation group in Los Angeles where he specialized in office leasing.
Pat holds an MBA from the Ross School of Business at the University of Michigan where he graduated with distinction. Pat holds a Bachelor of Science in Business Administration with a dual major in Finance and Real Estate from the University of Missouri where he graduated cum laude.
Eric deYoung
Eric deYoung
Director,
Portfolio Optimization, Evergreen
Portfolio Optimization, Evergreen
Joined 2018
About
Eric deYoung is a member of Pennybacker’s portfolio optimization team. His responsibilities include investment management and market research.
Before joining Pennybacker, Eric was a Land Development Consultant with Armbrust & Brown, PLCC. He assisted with development, entitlements, real estate transactions, and general real estate related matters for a variety of projects including economic incentive packages. Prior to that Eric led a local division for a land development and home building company. While there he negotiated and monitored agreements with contractors and vendors, including vertical and horizontal improvements. Eric was previously an analyst with Cypress Real Estate Advisors, where he assisted with financial underwriting, due diligence, asset management, marketing, and disposition of real estate assets.
Eric is a graduate of John Carroll University, with a Bachelor of Arts in Economics. He is also a member of RECA.
Before joining Pennybacker, Eric was a Land Development Consultant with Armbrust & Brown, PLCC. He assisted with development, entitlements, real estate transactions, and general real estate related matters for a variety of projects including economic incentive packages. Prior to that Eric led a local division for a land development and home building company. While there he negotiated and monitored agreements with contractors and vendors, including vertical and horizontal improvements. Eric was previously an analyst with Cypress Real Estate Advisors, where he assisted with financial underwriting, due diligence, asset management, marketing, and disposition of real estate assets.
Eric is a graduate of John Carroll University, with a Bachelor of Arts in Economics. He is also a member of RECA.
Director, Portfolio Optimization, Evergreen
Andrew Dolling
Director,
Portfolio Optimization
Portfolio Optimization
Andrew Dolling
Director,
Portfolio Optimization
Portfolio Optimization
Joined 2016
About
Andrew Dolling is a member of Pennybacker’s portfolio optimization team. He is responsible for overseeing the execution of multifamily investments, including investment business plans, property due diligence, design, branding, construction, operations and dispositions.
Before joining Pennybacker, Andrew was a Senior Associate at PwC in London. He worked in the Banking & Capital Markets group providing assurance for a number of large investment banking clients. In this position, he gained significant experience in financial analysis and the valuation of financial products across credit, mortgages, currencies, equities, and interest rate product trading desks. He also worked with clients on the revaluation of private equity positions, with aggregate value of several billion dollars.
Andrew completed his undergraduate degree in History at the University of Oxford in England. He is an ACA qualified chartered accountant with the Institute of Chartered Accountants in England and Wales.
Before joining Pennybacker, Andrew was a Senior Associate at PwC in London. He worked in the Banking & Capital Markets group providing assurance for a number of large investment banking clients. In this position, he gained significant experience in financial analysis and the valuation of financial products across credit, mortgages, currencies, equities, and interest rate product trading desks. He also worked with clients on the revaluation of private equity positions, with aggregate value of several billion dollars.
Andrew completed his undergraduate degree in History at the University of Oxford in England. He is an ACA qualified chartered accountant with the Institute of Chartered Accountants in England and Wales.
Azim Hajjar
Director,
Portfolio Optimization,
Value Funds
Portfolio Optimization,
Value Funds
Azim Hajjar
Director,
Portfolio Optimization, Value Funds
Portfolio Optimization, Value Funds
Joined 2015
About
Azim Hajjar is a member of Pennybacker’s portfolio optimization team. His responsibilities include investment management, fund reporting, and market research.
Before joining Pennybacker, Azim was a senior analyst for Live Oak–Gottesman. He was responsible for providing financial analysis and underwriting for over $250 million in office and mixed-use opportunities. Azim was previously a consultant for FTI Consulting in New York, where he worked in an advisory role for Fortune 500 clients. He conducted financial and operational assessments for distressed clients in the financial services and healthcare space.
Azim is a graduate of the Mendoza College of Business at the University of Notre Dame, with a Bachelor of Business Administration in Finance and an International Business Certificate. He is also an active member of the Urban Land Institute and RECA.
Before joining Pennybacker, Azim was a senior analyst for Live Oak–Gottesman. He was responsible for providing financial analysis and underwriting for over $250 million in office and mixed-use opportunities. Azim was previously a consultant for FTI Consulting in New York, where he worked in an advisory role for Fortune 500 clients. He conducted financial and operational assessments for distressed clients in the financial services and healthcare space.
Azim is a graduate of the Mendoza College of Business at the University of Notre Dame, with a Bachelor of Business Administration in Finance and an International Business Certificate. He is also an active member of the Urban Land Institute and RECA.
Sydney Mas
Vice President,
Investments
Investments
Sydney Mas
Vice President,
Investments
Investments
Joined 2020
About
Sydney Mas is responsible for the underwriting, structuring, execution and management of Pennybacker’s credit investments.
Prior to Pennybacker, Sydney was an Associate Director on the Real Estate Advisory team at WeWork, where she helped in multiple aspects of the business, including the underwriting and structuring of deals for WeWork’s Enterprise clients and portfolio optimization and asset management of WeWork’s East Coast portfolio.
Sydney received a Bachelor of Business Administration from the University of Vermont, where she played on the women’s lacrosse team and was a four time All-American.
Prior to Pennybacker, Sydney was an Associate Director on the Real Estate Advisory team at WeWork, where she helped in multiple aspects of the business, including the underwriting and structuring of deals for WeWork’s Enterprise clients and portfolio optimization and asset management of WeWork’s East Coast portfolio.
Sydney received a Bachelor of Business Administration from the University of Vermont, where she played on the women’s lacrosse team and was a four time All-American.
Patrick Murray
Vice President,
Investments
Investments
Patrick Murray
Vice President,
Investments
Investments
Joined 2019
About
Patrick Murray is a member of the investment team and is responsible for sourcing, underwriting, structuring, and closing potential investments. He is also focused on market research, theme identification, and investment management.
Prior to Pennybacker, Patrick received his MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, he served as the Co-President of the Graduate Real Estate Society and completed graduate internships with HFF and Pennybacker. Patrick’s career began as a transfer pricing advisor at Duff & Phelps in New York, where he conducted financial and operational valuations for multinational corporations to institute and assess their transfer pricing policies.
Patrick holds a Bachelor of Business Administration in International Business from the McDonough School of Business at Georgetown University, where he was a four-year letterman and team captain of the men’s lacrosse team. He is also an active member of NAIOP’s Developing Leaders program.
Prior to Pennybacker, Patrick received his MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, he served as the Co-President of the Graduate Real Estate Society and completed graduate internships with HFF and Pennybacker. Patrick’s career began as a transfer pricing advisor at Duff & Phelps in New York, where he conducted financial and operational valuations for multinational corporations to institute and assess their transfer pricing policies.
Patrick holds a Bachelor of Business Administration in International Business from the McDonough School of Business at Georgetown University, where he was a four-year letterman and team captain of the men’s lacrosse team. He is also an active member of NAIOP’s Developing Leaders program.
Sam Mysock
Vice President,
Investments
Investments
Sam Mysock
Vice President,
Investments
Investments
Joined 2017
About
Sam Mysock is a member of the firm’s investment team. His responsibilities include researching and underwriting potential investment opportunities, as well as investment management.
Sam received his MBA with a concentration in Real Estate Finance from the McCombs School of Business at the University of Texas. During his time at McCombs, he was a member of the winning team for the 2016 National Real Estate Challenge, and he completed internships with HFF and Pennybacker.
Prior to business school, Sam was a Research Manager at Gerson Lehrman Group, where he was a member of the hedge fund team managing due diligence projects on healthcare, real estate, energy, and technology investments.
Sam completed his undergraduate degree in History from Columbia University, where he was a three-year captain of the golf team. He is an active member of the Urban Land Institute.
Sam received his MBA with a concentration in Real Estate Finance from the McCombs School of Business at the University of Texas. During his time at McCombs, he was a member of the winning team for the 2016 National Real Estate Challenge, and he completed internships with HFF and Pennybacker.
Prior to business school, Sam was a Research Manager at Gerson Lehrman Group, where he was a member of the hedge fund team managing due diligence projects on healthcare, real estate, energy, and technology investments.
Sam completed his undergraduate degree in History from Columbia University, where he was a three-year captain of the golf team. He is an active member of the Urban Land Institute.
Chase Nixon
Vice President,
Investments
Investments
Chase Nixon
Vice President,
Investments
Investments
Joined 2020
About
Chase Nixon is a member of Pennybacker’s investment team and is responsible for sourcing, underwriting, structuring and closing potential investments. He is also focused on market research, theme identification and investment management.
Prior to Pennybacker, Chase received his MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, Chase served as the Portfolio Manager on the growth fund for the student-led MBA Investment Fund, LLC and completed his graduate internship with Pennybacker. Chase’s career began at TRT Holdings on the Real Estate Team which oversaw acquisition, development and value add opportunities for retail and hospitality investments.
Chase graduated with a BA from The University of Texas at Austin. He is an active member of the Urban Land Institute and RECA.
Prior to Pennybacker, Chase received his MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, Chase served as the Portfolio Manager on the growth fund for the student-led MBA Investment Fund, LLC and completed his graduate internship with Pennybacker. Chase’s career began at TRT Holdings on the Real Estate Team which oversaw acquisition, development and value add opportunities for retail and hospitality investments.
Chase graduated with a BA from The University of Texas at Austin. He is an active member of the Urban Land Institute and RECA.
Isabel Pryzant
Isabel Pryzant
Vice President,
Portfolio Optimization
Portfolio Optimization
Joined 2021
About
Isabel Pryzant is a member of Pennybacker’s portfolio optimization team. She is responsible for overseeing the execution of investments, including investment business plans, property due diligence, leasing, operations, and dispositions.
Prior to Pennybacker, Isabel received her MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, Isabel served on the executive committee for Venture Fellows and as a Portfolio Manager for the Real Estate Investment Fund and completed her graduate internship with Pennybacker. Isabel’s career began at Oliver Wyman where she delivered operational improvement projects and strategic advice for Fortune 100 companies.
Isabel earned her undergraduate degree in Plan II Honors at the University of Texas at Austin. She is an active member of the Urban Land Institute.
Prior to Pennybacker, Isabel received her MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, Isabel served on the executive committee for Venture Fellows and as a Portfolio Manager for the Real Estate Investment Fund and completed her graduate internship with Pennybacker. Isabel’s career began at Oliver Wyman where she delivered operational improvement projects and strategic advice for Fortune 100 companies.
Isabel earned her undergraduate degree in Plan II Honors at the University of Texas at Austin. She is an active member of the Urban Land Institute.
Vice President,
Portfolio Optimization
Portfolio Optimization
Rachel Vogel
Vice President,
Investments
Investments
Rachel Vogel
Vice President,
Investments
Investments
Joined 2021
About
Rachel Vogel is an associate on the investment and portfolio optimization teams. Her responsibilities include investment management, as well as researching and underwriting potential investment opportunities.
Prior to Pennybacker, Rachel held a commercial investment sales role at JLL. Rachel was responsible for spearheading the marketing efforts for industrial, office and retail deals awarded to the team. Throughout her six years with the firm Rachel worked closely with JLL debt and equity producers as well as agency leasing and tenant rep brokers. She was involved in the underwriting for over $4.0B of deals as well as marketed and assisted with the sale of $1.5B of the team’s institutional and private capital clients.
Rachel holds a Bachelor of Science degree in Marketing and Advertising from Iowa State University and is a licensed real estate broker in the state of Colorado.
Prior to Pennybacker, Rachel held a commercial investment sales role at JLL. Rachel was responsible for spearheading the marketing efforts for industrial, office and retail deals awarded to the team. Throughout her six years with the firm Rachel worked closely with JLL debt and equity producers as well as agency leasing and tenant rep brokers. She was involved in the underwriting for over $4.0B of deals as well as marketed and assisted with the sale of $1.5B of the team’s institutional and private capital clients.
Rachel holds a Bachelor of Science degree in Marketing and Advertising from Iowa State University and is a licensed real estate broker in the state of Colorado.
Jonathan Petrini
Senior Associate
Jonathan Petrini
Senior Associate
Joined 2022
About
Jonathan Petrini is a member of the investments and portfolio optimization teams, focused on identifying investment themes and sourcing, underwriting, structuring, and closing potential opportunities across the United States.
Jonathan received his MBA from the J.L. Kellogg Graduate School of Management at Northwestern University. During his time at Kellogg, he served as the Academic Director of the Kellogg Real Estate Club. Prior to business school, Jonathan was an associate on the portfolio optimization team at Pennybacker, where he managed a portfolio in excess of $450 million across various property types. Jonathan began his career as an intern at Pennybacker.
Jonathan received his undergraduate degree in Finance from the McCombs School of Business at the University of Texas at Austin. He is an active member of the Urban Land Institute.
Jonathan received his MBA from the J.L. Kellogg Graduate School of Management at Northwestern University. During his time at Kellogg, he served as the Academic Director of the Kellogg Real Estate Club. Prior to business school, Jonathan was an associate on the portfolio optimization team at Pennybacker, where he managed a portfolio in excess of $450 million across various property types. Jonathan began his career as an intern at Pennybacker.
Jonathan received his undergraduate degree in Finance from the McCombs School of Business at the University of Texas at Austin. He is an active member of the Urban Land Institute.
Schuyler Tompkins
Senior Associate
Schuyler Tompkins
Senior Associate
Joined 2023
About
Schuyler Tompkins is a member of the investments and portfolio optimization teams. She drives transactions through strategic research insights, quantitative analysis, and thorough market knowledge.
Prior to joining Pennybacker, Schuyler worked at Morningside Capital, a boutique real estate investment company. While there, she was responsible for evaluating investment opportunities, and supporting the entire real estate transaction from the time of investment closing through exit. Schuyler received her MBA from the University of North Carolina at Chapel Hill, where she completed the Real Estate Concentration. She participated in the Dean’s Fellow Program, a leadership program for select fellowship recipients, and was a member of the UNC MBA Real Estate Club. She completed a graduate internship with EverWest Real Estate Investors, working alongside originators to underwrite industrial, office, and multifamily opportunities for several funds and separate accounts.
Schuyler received her bachelor's degree from the University of Virginia. She serves on the Real Estate Academy Board of Advisors for the Leonard W. Wood Center and is a member of NAIOP’s Developing Leaders.
Prior to joining Pennybacker, Schuyler worked at Morningside Capital, a boutique real estate investment company. While there, she was responsible for evaluating investment opportunities, and supporting the entire real estate transaction from the time of investment closing through exit. Schuyler received her MBA from the University of North Carolina at Chapel Hill, where she completed the Real Estate Concentration. She participated in the Dean’s Fellow Program, a leadership program for select fellowship recipients, and was a member of the UNC MBA Real Estate Club. She completed a graduate internship with EverWest Real Estate Investors, working alongside originators to underwrite industrial, office, and multifamily opportunities for several funds and separate accounts.
Schuyler received her bachelor's degree from the University of Virginia. She serves on the Real Estate Academy Board of Advisors for the Leonard W. Wood Center and is a member of NAIOP’s Developing Leaders.
Sen Zhang
Senior Associate
Sen Zhang
Senior Associate
Joined 2024
About
Sen Zhang is a senior associate on the portfolio optimization team. His responsibilities include being an accounting liaison for all joint venture partners and third-party property managers, and preparing and managing the fund-level valuation process.
Before joining Pennybacker, Sen worked as an Accounting Manager at Presario Ventures, where he oversaw both corporate and project accounting. His responsibilities included treasury management, financial reporting, loan draw management, project cost variance analysis, tax strategy implementation, partnership tax return review, and LPA review. Sen was actively involved in accounting and asset management for a diverse portfolio exceeding $400 million, comprising multifamily, single-family homes, and extended-stay hotels.
Sen holds a Master of Economics from the University of California, Santa Cruz, and a Master of Finance from The University of Texas at Dallas. Furthermore, he is a licensed Certified Public Accountant (CPA) in the state of Washington and holds the Certified Management Accountant (CMA) designation.
Before joining Pennybacker, Sen worked as an Accounting Manager at Presario Ventures, where he oversaw both corporate and project accounting. His responsibilities included treasury management, financial reporting, loan draw management, project cost variance analysis, tax strategy implementation, partnership tax return review, and LPA review. Sen was actively involved in accounting and asset management for a diverse portfolio exceeding $400 million, comprising multifamily, single-family homes, and extended-stay hotels.
Sen holds a Master of Economics from the University of California, Santa Cruz, and a Master of Finance from The University of Texas at Dallas. Furthermore, he is a licensed Certified Public Accountant (CPA) in the state of Washington and holds the Certified Management Accountant (CMA) designation.
Scott Farley
Associate
Scott Farley
Associate
Joined 2021
About
Scott Farley is a portfolio accounting manager on the portfolio optimization team. His responsibilities include being an accounting liaison for all joint venture partners and third-party property managers, and preparing and managing the fund-level valuation process.
Prior to joining Pennybacker, Scott was a senior property accountant at Boston Properties. He was responsible for a portfolio of Class A commercial properties in New York City. Throughout his time at BXP, Scott analyzed complex lease transactions and implemented accounting procedures, as well as prepared financial statements for REIT and joint ventures entities.
Scott holds a Bachelor of Business Administration in Finance, with a concentration in Risk Management and a minor in Economics from the University of Massachusetts, Amherst. He is a licensed real estate salesperson in the state of Massachusetts and is pursuing a Texas license.
Prior to joining Pennybacker, Scott was a senior property accountant at Boston Properties. He was responsible for a portfolio of Class A commercial properties in New York City. Throughout his time at BXP, Scott analyzed complex lease transactions and implemented accounting procedures, as well as prepared financial statements for REIT and joint ventures entities.
Scott holds a Bachelor of Business Administration in Finance, with a concentration in Risk Management and a minor in Economics from the University of Massachusetts, Amherst. He is a licensed real estate salesperson in the state of Massachusetts and is pursuing a Texas license.
Ben Grissim
Associate
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Ben Grissim
Associate
Joined 2022
About
Ben Grissim is a member of Pennybacker’s investments and portfolio optimization teams and is responsible for financial modeling, market analysis, investment underwriting, asset management, and performance reporting for the firm’s credit investments.
Prior to Pennybacker, Ben was an Associate with HFF & JLL Capital Markets where he led creation of financial models, consolidation of market research, and coordination of due diligence and closings for the Student-Housing Investment Sales Advisory Team across its national platform. During his four years with the merged entities, Ben facilitated investment sales, debt origination, and equity raises for opportunities of varying return profiles totaling in excess of $1.2B in transaction volume, including over 20 closed transactions in 2021.
Ben earned a Bachelor of English Language & Literature from the University of Michigan and a Bachelor of Business Administration from the Ross School of Business.
Prior to Pennybacker, Ben was an Associate with HFF & JLL Capital Markets where he led creation of financial models, consolidation of market research, and coordination of due diligence and closings for the Student-Housing Investment Sales Advisory Team across its national platform. During his four years with the merged entities, Ben facilitated investment sales, debt origination, and equity raises for opportunities of varying return profiles totaling in excess of $1.2B in transaction volume, including over 20 closed transactions in 2021.
Ben earned a Bachelor of English Language & Literature from the University of Michigan and a Bachelor of Business Administration from the Ross School of Business.
Edwin Kuhn
Associate
Edwin Kuhn
Associate
Joined 2022
About
Edwin Kuhn is an associate on the investment and portfolio optimization teams. His responsibilities include researching and underwriting potential investment opportunities as well as investment management.
Prior to Pennybacker, Edwin received his MBA from the UNC Kenan-Flagler Business School with a concentration in Real Estate Investment and Finance. While at UNC, Edwin served as a Fund Manager for the KFBSF Real Estate Funds, a series of fully discretionary, student-led private equity funds, and completed his graduate internship with American Real Estate Partners. Prior to business school, Edwin spent five years with the CBRE Multifamily Debt & Structured Finance group in Charlotte, North Carolina supporting the production and closing of debt financing transactions across the United States.
Edwin earned his Bachelor of Business Administration in both Real Estate and Finance from the University of Georgia.
Prior to Pennybacker, Edwin received his MBA from the UNC Kenan-Flagler Business School with a concentration in Real Estate Investment and Finance. While at UNC, Edwin served as a Fund Manager for the KFBSF Real Estate Funds, a series of fully discretionary, student-led private equity funds, and completed his graduate internship with American Real Estate Partners. Prior to business school, Edwin spent five years with the CBRE Multifamily Debt & Structured Finance group in Charlotte, North Carolina supporting the production and closing of debt financing transactions across the United States.
Edwin earned his Bachelor of Business Administration in both Real Estate and Finance from the University of Georgia.
William Morris
Associate
William Morris
Associate
Joined 2022
About
William Morris is an associate on the investment and portfolio optimization teams. His responsibilities include researching and underwriting potential investment opportunities and investment management.
Prior to Pennybacker, William received his MBA from the Yale School of Management. While at Yale, William served as the Vice President of the Real Estate Society and completed his graduate internship with Pennybacker. William’s career began at JLL where he spent four years on the Office Investment Advisory Team in Charlotte focusing on office transactions across the Southeast.
William earned his undergraduate degree in Economics from Davidson College where he was a four-year letterman and captain of the football team.
Prior to Pennybacker, William received his MBA from the Yale School of Management. While at Yale, William served as the Vice President of the Real Estate Society and completed his graduate internship with Pennybacker. William’s career began at JLL where he spent four years on the Office Investment Advisory Team in Charlotte focusing on office transactions across the Southeast.
William earned his undergraduate degree in Economics from Davidson College where he was a four-year letterman and captain of the football team.
Eliza Ross
Associate
Eliza Ross
Associate
Joined 2020
About
Eliza Ross is a member of Pennybacker’s investment and portfolio optimization teams. She is responsible for overseeing the execution of investment business plans for both direct and joint venture investments. This includes due diligence, design, construction, operations, refinances, and dispositions. In addition, she is responsible for researching and underwriting potential new investment opportunities.
Eliza graduated from the University of Denver – Daniels College of Business where she earned a BSBA in International Business and Finance. During her time at the University of Denver, Eliza completed internships at Marcus & Millichap and Pennybacker.
Eliza is a chair of the Young Leaders Group for the Urban Land Institute’s Colorado Chapter as well as a member of the mentorship committee for NAIOP Colorado.
Eliza graduated from the University of Denver – Daniels College of Business where she earned a BSBA in International Business and Finance. During her time at the University of Denver, Eliza completed internships at Marcus & Millichap and Pennybacker.
Eliza is a chair of the Young Leaders Group for the Urban Land Institute’s Colorado Chapter as well as a member of the mentorship committee for NAIOP Colorado.
Sam Nichols
Senior Analyst
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Sam Nichols
Senior Analyst
Joined 2022
About
Sam Nichols is a member of the investment and portfolio optimization teams. His responsibilities include investment management as well as researching and underwriting potential investment opportunities.
Prior to joining Pennybacker, Sam was an analyst at JLL Capital Markets in Austin. He joined JLL as part of the HFF acquisition and was involved in the permanent, construction, and joint venture equity financing of multi-housing, office, retail, and student housing assets across the United States. During his tenure, he helped arrange more than $3.4 billion of real estate capitalizations and asset sales on behalf of major corporate, institutional, and private owners.
Sam holds a Bachelor of Business Administration in Finance from the Cox School of Business at Southern Methodist University. He serves on the Membership Committee of the Austin chapter of the Urban Land Institute.
Prior to joining Pennybacker, Sam was an analyst at JLL Capital Markets in Austin. He joined JLL as part of the HFF acquisition and was involved in the permanent, construction, and joint venture equity financing of multi-housing, office, retail, and student housing assets across the United States. During his tenure, he helped arrange more than $3.4 billion of real estate capitalizations and asset sales on behalf of major corporate, institutional, and private owners.
Sam holds a Bachelor of Business Administration in Finance from the Cox School of Business at Southern Methodist University. He serves on the Membership Committee of the Austin chapter of the Urban Land Institute.
Jeff Storer
Analyst
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Jeff Storer
Analyst
Joined 2022
About
Jeff Storer is a member of the investment and portfolio optimization teams. His responsibilities include investment management as well as researching and underwriting potential investment opportunities.
Prior to joining Pennybacker, Jeff graduated from the University of Nebraska-Lincoln College of Business where he earned a BSBA in Finance and Economics.
Prior to joining Pennybacker, Jeff graduated from the University of Nebraska-Lincoln College of Business where he earned a BSBA in Finance and Economics.
Alec Vasquez
Analyst
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Alec Vasquez
Analyst
Joined 2022
About
Alec Vasquez is an analyst on Pennybacker’s investment and portfolio optimization teams. His responsibilities include investment management as well as researching and underwriting potential investment opportunities.
Alec graduated from the University of Notre Dame Mendoza College of Business, where he earned a BBA in Finance and minored in Real Estate. During his time at Notre Dame, Alec completed internships at Citi and Pennybacker. He was an active member of the Fitzgerald Institute for Real Estate and served as President of the Notre Dame Men’s Boxing Club.
Alec graduated from the University of Notre Dame Mendoza College of Business, where he earned a BBA in Finance and minored in Real Estate. During his time at Notre Dame, Alec completed internships at Citi and Pennybacker. He was an active member of the Fitzgerald Institute for Real Estate and served as President of the Notre Dame Men’s Boxing Club.
Critical Infrastructure
Liz Spruill
Director
Liz Spruill
Director
Joined 2022
About
Liz Spruill is a member of the Investment team with a focus on Pennybacker’s infrastructure platform, where she focuses on investment underwriting, transaction structuring and execution and investment management.
Prior to joining Pennybacker, Liz was a Vice President at EIV Capital, where she focused on investments in the energy industry. At EIV, Liz’s responsibilities included due diligence on prospective investments, transaction structuring and execution, portfolio company management and general industry research. Liz also served as a board of managers member on several of EIV’s portfolio investments. Prior to EIV, Liz worked as an investment banking analyst and associate in Bank of America Merrill Lynch’s Natural Resources Group, where she focused on the midstream, upstream and oilfield services sectors of the energy industry.
Liz graduated from Vanderbilt University with a Bachelor of Science as a double major in Engineering Science and Economics.
Prior to joining Pennybacker, Liz was a Vice President at EIV Capital, where she focused on investments in the energy industry. At EIV, Liz’s responsibilities included due diligence on prospective investments, transaction structuring and execution, portfolio company management and general industry research. Liz also served as a board of managers member on several of EIV’s portfolio investments. Prior to EIV, Liz worked as an investment banking analyst and associate in Bank of America Merrill Lynch’s Natural Resources Group, where she focused on the midstream, upstream and oilfield services sectors of the energy industry.
Liz graduated from Vanderbilt University with a Bachelor of Science as a double major in Engineering Science and Economics.
Will Donnan
Vice President
Will Donnan
Vice President
Joined 2024
About
Will Donnan is a member of the investment team with a focus on Pennybacker’s infrastructure platform. His responsibilities include sourcing, underwriting, execution and management of investment opportunities.
Prior to joining Pennybacker, Will was Vice President of Finance and Corporate Development at ARM Energy, an energy infrastructure and marketing firm with operations across North America. During his tenure at ARM, Will spearheaded various strategic initiatives including acquisitions and divestitures, organic growth projects, structured transactions and financings. Prior to ARM, Will worked as an investment associate at ArcLight Capital Partners, an infrastructure investment firm focused on energy and power. At ArcLight, Will’s responsibilities included due diligence, transaction structuring and execution, and portfolio company management. Prior to ArcLight, Will worked as an investment banking analyst at Wells Fargo Securities, where he focused on the midstream, upstream and oilfield services sectors of the energy industry.
Will graduated from Trinity University where he earned a Bachelor of Science in Business Administration with a dual concentration in Finance and Accounting as well as a Bachelor of Arts in Spanish. Will also earned a Master's in Professional Accounting from the McCombs School of Business at the University of Texas at Austin.
Prior to joining Pennybacker, Will was Vice President of Finance and Corporate Development at ARM Energy, an energy infrastructure and marketing firm with operations across North America. During his tenure at ARM, Will spearheaded various strategic initiatives including acquisitions and divestitures, organic growth projects, structured transactions and financings. Prior to ARM, Will worked as an investment associate at ArcLight Capital Partners, an infrastructure investment firm focused on energy and power. At ArcLight, Will’s responsibilities included due diligence, transaction structuring and execution, and portfolio company management. Prior to ArcLight, Will worked as an investment banking analyst at Wells Fargo Securities, where he focused on the midstream, upstream and oilfield services sectors of the energy industry.
Will graduated from Trinity University where he earned a Bachelor of Science in Business Administration with a dual concentration in Finance and Accounting as well as a Bachelor of Arts in Spanish. Will also earned a Master's in Professional Accounting from the McCombs School of Business at the University of Texas at Austin.
Braden Knight
Senior Associate
Braden Knight
Senior Associate
Joined 2024
About
Braden Knight is a member of the investment team with a focus on Pennybacker’s Infrastructure platform. His responsibilities include investment underwriting, execution and investment management.
Prior to joining Pennybacker's Infrastructure Group, Mr. Knight was an Associate at Old Ironsides Energy, where he focused on investments in the midstream, upstream, and renewable sectors. Previously, Braden was an Energy Investment Banking Analyst with Truist Securities.
Braden attended the University of Texas at Austin, where he received a Master of Science in Finance from McCombs School of Business and a Bachelor of Arts in Economics.
Prior to joining Pennybacker's Infrastructure Group, Mr. Knight was an Associate at Old Ironsides Energy, where he focused on investments in the midstream, upstream, and renewable sectors. Previously, Braden was an Energy Investment Banking Analyst with Truist Securities.
Braden attended the University of Texas at Austin, where he received a Master of Science in Finance from McCombs School of Business and a Bachelor of Arts in Economics.
Felipe Oliveira
Associate
Felipe Oliveira
Associate
Joined 2022
About
Felipe Oliveira is a member of the investment team with a focus on Pennybacker’s Infrastructure platform. His responsibilities include investment underwriting, execution and investment management.
Prior to joining Pennybacker, Felipe was an analyst at BNP Paribas in New York. He joined BNP as part of the M&A Power & Renewables Team and was involved on several renewable mandates including Sell-Side mandates of a 1.4 GW Battery Storage Asset Platform and 440 MW C&I Solar Portfolio. Felipe started his career at Atlantico Capital Partners in Miami, where he worked on Infrastructure and Renewables advisory mandates.
Felipe holds a Bachelor of Business Administration in Finance from Florida International University.
Prior to joining Pennybacker, Felipe was an analyst at BNP Paribas in New York. He joined BNP as part of the M&A Power & Renewables Team and was involved on several renewable mandates including Sell-Side mandates of a 1.4 GW Battery Storage Asset Platform and 440 MW C&I Solar Portfolio. Felipe started his career at Atlantico Capital Partners in Miami, where he worked on Infrastructure and Renewables advisory mandates.
Felipe holds a Bachelor of Business Administration in Finance from Florida International University.
Alpha Investment Intelligence and Innovation (AI3)
Kelly Sooch
Lead Data Scientist
Kelly Sooch
Lead Data Scientist
Joined 2020
About
Kelly is a lead data scientist on the Data & Analytics team. Her responsibilities include building machine learning models and custom visualizations to drive investment decisions.
Prior to joining Pennybacker, Kelly received her Masters in Data Science degree from New York University, where she gained skills in machine learning and predictive analytics. Her capstone project involved partnering with Tishman Speyer to predict lease renewal with machine learning models. Prior to NYU, Kelly was a data scientist at the tech startup, Finery, working on business analytics with a focus on user retention.
Kelly received her undergraduate degree in Biomedical Engineering from Duke University.
Prior to joining Pennybacker, Kelly received her Masters in Data Science degree from New York University, where she gained skills in machine learning and predictive analytics. Her capstone project involved partnering with Tishman Speyer to predict lease renewal with machine learning models. Prior to NYU, Kelly was a data scientist at the tech startup, Finery, working on business analytics with a focus on user retention.
Kelly received her undergraduate degree in Biomedical Engineering from Duke University.
Soumya Agrawal
Data Scientist
Soumya Agrawal
Data Scientist
Joined 2023
About
Soumya is a Data Scientist on the Data & Analytics team. Her responsibilities include managing data flow to dashboards, building dashboards to generate tangible and actionable business insights, and building reusable and scalable ML models to support business decisions.
Prior to joining Pennybacker, Soumya earned her Masters in Business Analytics from The University of Texas at Austin and had over three years of experience as an Analyst for a telecom services company. There, she worked with various North-American network providers to build interactive dashboards and implement data-driven solutions. Her role acted as a bridge between the technical scripting team and the client, focusing on workflow optimization, automation, KPI monitoring, and reporting.
Soumya received her undergraduate degree from India, where she studied Electronics and Communication Engineering.
Prior to joining Pennybacker, Soumya earned her Masters in Business Analytics from The University of Texas at Austin and had over three years of experience as an Analyst for a telecom services company. There, she worked with various North-American network providers to build interactive dashboards and implement data-driven solutions. Her role acted as a bridge between the technical scripting team and the client, focusing on workflow optimization, automation, KPI monitoring, and reporting.
Soumya received her undergraduate degree from India, where she studied Electronics and Communication Engineering.
Arti Kumar
Product Manager
Arti Kumar
Product Manager
Joined 2021
About
Arti is a Technology Product Manager on the Data & Analytics team. Her responsibilities include establishing strategic plans for new technologies across the organization and managing the implementation of these tools.
Prior to joining Pennybacker, Arti worked as a software engineer at Auth0 (now Okta) on the Identity & Access Management team. There, she worked with a team of other engineers to develop new product features and handle user data. Arti started her career at Atlassian, where she worked as an engineer on the Product Integrations team, creating applications to connect Atlassian products to third-party software products.
Arti received her undergraduate degree from The University of Texas at Austin, where she studied Management Information Systems and Computer Science.
Prior to joining Pennybacker, Arti worked as a software engineer at Auth0 (now Okta) on the Identity & Access Management team. There, she worked with a team of other engineers to develop new product features and handle user data. Arti started her career at Atlassian, where she worked as an engineer on the Product Integrations team, creating applications to connect Atlassian products to third-party software products.
Arti received her undergraduate degree from The University of Texas at Austin, where she studied Management Information Systems and Computer Science.
Austin Penner
Senior Data Engineer
Austin Penner
Senior Data Engineer
Joined 2023
About
Austin is a Data Engineer on the Data & Analytics team. His responsibilities include architecting and building data systems for Pennybacker ɑ™.
Prior to joining Pennybacker, Austin worked as a data engineer at Catapult Systems (now Quisitive) on the Data & AI team. There, he architected and implemented data solutions for clients in finance, retail, and SLG. He focused on data warehousing and reporting and separately delivered data science solutions.
Austin received his undergraduate degree from Texas Tech University, where he studied Mathematics.
Prior to joining Pennybacker, Austin worked as a data engineer at Catapult Systems (now Quisitive) on the Data & AI team. There, he architected and implemented data solutions for clients in finance, retail, and SLG. He focused on data warehousing and reporting and separately delivered data science solutions.
Austin received his undergraduate degree from Texas Tech University, where he studied Mathematics.
Faustin Nzitonda
Data Engineer
Faustin Nzitonda
Data Engineer
Joined 2023
About
Faustin is a Data Engineer on the Data & Analytics team, responsible for designing and maintaining data pipelines for analytics and machine learning.
Prior to joining Pennybacker, Faustin worked as a Machine Learning Engineer in the fintech industry and as an Embedded Software Engineer in the electric vehicle sector.
Faustin has a Master of Science in Business Analytics, a Master of Science in Electrical and Computer Engineering, and a Bachelor of Science in Electronics and Telecommunication Engineering.
Prior to joining Pennybacker, Faustin worked as a Machine Learning Engineer in the fintech industry and as an Embedded Software Engineer in the electric vehicle sector.
Faustin has a Master of Science in Business Analytics, a Master of Science in Electrical and Computer Engineering, and a Bachelor of Science in Electronics and Telecommunication Engineering.
Capital Formation
Lauren Goodman
Vice President
Lauren Goodman
Vice President,
Capital Formation Operations
Capital Formation Operations
Joined 2023
About
Lauren Goodman is a member of the Capital Formation team. Her responsibilities include managing various aspects of fundraising and investor relations such as marketing material development and management, investor due diligence and onboarding processes, and investor communications and requests. Lauren began her investment career in 2007 and joined Pennybacker in 2023.
Prior to joining Pennybacker, Lauren briefly worked at The Amherst Group on the Investor Relations team. Prior to Amherst, Lauren worked at Invesco Real Estate as a Product Manager for the US debt and equity core-plus vehicles; prior to her work on the Product Management team, she worked on the Transaction Analytics team covering all asset types within the South and Southeast regions of the US. Prior to Invesco, she worked at PGIM Real Estate Finance (formerly Prudential Mortgage Capital Company) in the Dallas, TX and Atlanta, GA offices.
Lauren earned a Bachelor of Science degree in Business Administration with a concentration in Finance from Questrom School of Business at Boston University.
Prior to joining Pennybacker, Lauren briefly worked at The Amherst Group on the Investor Relations team. Prior to Amherst, Lauren worked at Invesco Real Estate as a Product Manager for the US debt and equity core-plus vehicles; prior to her work on the Product Management team, she worked on the Transaction Analytics team covering all asset types within the South and Southeast regions of the US. Prior to Invesco, she worked at PGIM Real Estate Finance (formerly Prudential Mortgage Capital Company) in the Dallas, TX and Atlanta, GA offices.
Lauren earned a Bachelor of Science degree in Business Administration with a concentration in Finance from Questrom School of Business at Boston University.
Nina Noon, CPA
Vice President
Nina Noon, CPA
Vice President,
Capital Formation
Capital Formation
Joined 2024
About
Nina Noon is a member of the Capital Formation team. Her responsibilities include developing and maintaining relationships with prospective and existing limited partners across the firm's investment platform.
Prior to joining Pennybacker, Nina was an Associate on the Capital Markets team at FrontRange Capital Partners, a private equity real estate firm. She focused on investor relations, managing both prospective and existing limited partner relationships, and assisting with investor due diligence, requests, and marketing materials. Nina started her career with Ernst & Young in their Assurance practice, where she served both public and private clients.
Nina received both a Master in Professional Accounting and Bachelor of Business Administration from the McCombs School of Business at the University of Texas at Austin. She is a Certified Public Accountant in the state of Colorado.
Prior to joining Pennybacker, Nina was an Associate on the Capital Markets team at FrontRange Capital Partners, a private equity real estate firm. She focused on investor relations, managing both prospective and existing limited partner relationships, and assisting with investor due diligence, requests, and marketing materials. Nina started her career with Ernst & Young in their Assurance practice, where she served both public and private clients.
Nina received both a Master in Professional Accounting and Bachelor of Business Administration from the McCombs School of Business at the University of Texas at Austin. She is a Certified Public Accountant in the state of Colorado.
Taylor (Thomas)
Vanderstraaten
Vanderstraaten
Vice President
Taylor (Thomas)
Vanderstraaten
Vanderstraaten
Vice President,
Capital Formation
Capital Formation
Joined 2021
About
Taylor Thomas is a member of the capital formation team. Her responsibilities include fostering relationships with prospective and existing limited partners, facilitating the completion of investor due diligence and ad hoc requests, developing marketing materials, and managing various aspects of fundraising and investor relations processes across the firm’s platforms.
Prior to joining Pennybacker, Taylor was a Commercial Banker in the Technology & Disruptive Commerce group at J.P. Morgan. She supported technology companies and equity-backed startups by helping fulfill their treasury management and working capital needs. Taylor began her career in J.P. Morgan’s Private Bank, where she provided individuals, families, and foundations in Central Texas with investing, banking, and wealth planning advice and services.
Taylor received a Bachelor of Business Administration in Finance from the McCombs School of Business at the University of Texas at Austin.
Prior to joining Pennybacker, Taylor was a Commercial Banker in the Technology & Disruptive Commerce group at J.P. Morgan. She supported technology companies and equity-backed startups by helping fulfill their treasury management and working capital needs. Taylor began her career in J.P. Morgan’s Private Bank, where she provided individuals, families, and foundations in Central Texas with investing, banking, and wealth planning advice and services.
Taylor received a Bachelor of Business Administration in Finance from the McCombs School of Business at the University of Texas at Austin.
Kara Kennedy
Analyst
Kara Kennedy
Analyst,
Capital Formation Operations
Capital Formation Operations
Joined 2023
About
Kara Kennedy is a member of the Capital Formation team. Her responsibilities include developing and maintaining marketing materials, managing investor communications, facilitating investor requests and collaborating with various teams to understand and to clearly communicate performance and strategy.
Prior to joining Pennybacker, Kara graduated from Texas A&M University - Mays School of Business where she earned her Master’s in Management with a focus in Entrepreneurial Leadership and an undergraduate degree in accounting. While at Texas A&M, Kara was a part of the Professional Program in Accounting and completed an internship with Deloitte in their Business Tax Services Group. Kara began her career as an accountant for Long View Equity, where she oversaw the company’s corporate accounting operations.
Prior to joining Pennybacker, Kara graduated from Texas A&M University - Mays School of Business where she earned her Master’s in Management with a focus in Entrepreneurial Leadership and an undergraduate degree in accounting. While at Texas A&M, Kara was a part of the Professional Program in Accounting and completed an internship with Deloitte in their Business Tax Services Group. Kara began her career as an accountant for Long View Equity, where she oversaw the company’s corporate accounting operations.
Finance, Accounting, & Investor Reporting
Mike Montesi, CPA
Managing Director,
Head of Accounting
Head of Accounting
Mike Montesi, CPA
Managing Director,
Head of Accounting
Head of Accounting
Joined 2023
About
Mike Montesi oversees fund financial reporting and accounting across all investment platforms, as well as the accounting and preparation of financial statements for the management company. He also plays a crucial role in developing and monitoring systems and processes to ensure timely and accurate financial reporting.
Before joining Pennybacker, Mike served as the Director of Accounting and Financial Reporting at American Campus Communities, which was acquired by Blackstone in 2022. He managed the Company’s SEC reporting process prior to the acquisition, supervised the consolidated close process, and drove efficiency and process enhancements within the team. He played an integral role in accounting for the Blackstone acquisition. Earlier in his career, he was an Assurance Manager at PricewaterhouseCoopers where he provided assurance services to public and private clients in the financial services sector.
Mike is a Certified Public Accountant and holds both a Bachelor of Business Administration in Accounting and Master of Science in Accounting from the Cox School of Business at Southern Methodist University.
Before joining Pennybacker, Mike served as the Director of Accounting and Financial Reporting at American Campus Communities, which was acquired by Blackstone in 2022. He managed the Company’s SEC reporting process prior to the acquisition, supervised the consolidated close process, and drove efficiency and process enhancements within the team. He played an integral role in accounting for the Blackstone acquisition. Earlier in his career, he was an Assurance Manager at PricewaterhouseCoopers where he provided assurance services to public and private clients in the financial services sector.
Mike is a Certified Public Accountant and holds both a Bachelor of Business Administration in Accounting and Master of Science in Accounting from the Cox School of Business at Southern Methodist University.
Anil Haider
Director,
Finance
Finance
Anil Haider
Director,
Finance
Finance
Joined 2022
About
Anil Haider is responsible for creating and maintaining fund models, monitoring fund liquidity, and corporate budgeting. He is also involved in negotiating and managing subscription lines of credit along with compliance monitoring and institutional reporting for the various funds and investment vehicles.
Prior to joining Pennybacker, Anil served as the Vice President of Portfolio Management for Virtus Real Estate Capital, a real estate private equity firm focused exclusively on cycle-resilient property types such as Medical Office, Student Housing, and Workforce Housing. He was responsible for fund-level analysis, portfolio management, and reporting efforts within the firm. He assisted the management team with fund strategy and capital raising initiatives. Additionally, Anil played a key role in managing all property and fund data used for firm-wide analysis. Previously, he was an analyst in the Oil & Gas Investment Banking Group at J.P. Morgan where he was involved in M&A and capital markets transactions for various upstream, midstream, and oilfield services companies.
Anil holds a Bachelor of Business Administration in Finance and Business Honors from the University of Texas at Austin.
Prior to joining Pennybacker, Anil served as the Vice President of Portfolio Management for Virtus Real Estate Capital, a real estate private equity firm focused exclusively on cycle-resilient property types such as Medical Office, Student Housing, and Workforce Housing. He was responsible for fund-level analysis, portfolio management, and reporting efforts within the firm. He assisted the management team with fund strategy and capital raising initiatives. Additionally, Anil played a key role in managing all property and fund data used for firm-wide analysis. Previously, he was an analyst in the Oil & Gas Investment Banking Group at J.P. Morgan where he was involved in M&A and capital markets transactions for various upstream, midstream, and oilfield services companies.
Anil holds a Bachelor of Business Administration in Finance and Business Honors from the University of Texas at Austin.
Kate Ford
Vice President,
Finance
Finance
Kate Ford
Vice President,
Finance
Finance
Joined 2024
About
Kate Ford is responsible for creating and maintaining fund models, monitoring fund liquidity, and corporate budgeting. She is also involved in negotiating and managing subscription lines of credit along with compliance monitoring and institutional reporting for the various funds and investment vehicles.
Prior to joining Pennybacker, Kate was a Principal at Kong Capital, a real estate investment firm focused on senior living investments. She joined Kong Capital at formation and there she primarily sourced and underwrote investment opportunities, as well as leveraged her background as a former lender to secure debt financing for projects in which Kong Capital invested.
Prior to Kong Capital, Kate worked at Titan Fund Management where she served as Vice President of Finance. In her role, she managed the fund’s underwriting team and also secured project debt for fund investments.
Prior to real estate development and private equity, Kate spent 10+ years in banking originating and/or syndicating $900M+ of commercial real estate loans for multi-family, retail, industrial, lodging, golf courses, and office buildings. She has previously worked at financial institutions including Bank of America, Société Générale, Guaranty Bank and U.S. Bank with roles including underwriting, corporate finance with a focus on REITS, and loan syndications.
Kate is a former Board Member of the Real Estate Council of Austin. She received a Bachelor of Business Administration in Finance from the McCombs School of Business at the University of Texas at Austin.
Prior to joining Pennybacker, Kate was a Principal at Kong Capital, a real estate investment firm focused on senior living investments. She joined Kong Capital at formation and there she primarily sourced and underwrote investment opportunities, as well as leveraged her background as a former lender to secure debt financing for projects in which Kong Capital invested.
Prior to Kong Capital, Kate worked at Titan Fund Management where she served as Vice President of Finance. In her role, she managed the fund’s underwriting team and also secured project debt for fund investments.
Prior to real estate development and private equity, Kate spent 10+ years in banking originating and/or syndicating $900M+ of commercial real estate loans for multi-family, retail, industrial, lodging, golf courses, and office buildings. She has previously worked at financial institutions including Bank of America, Société Générale, Guaranty Bank and U.S. Bank with roles including underwriting, corporate finance with a focus on REITS, and loan syndications.
Kate is a former Board Member of the Real Estate Council of Austin. She received a Bachelor of Business Administration in Finance from the McCombs School of Business at the University of Texas at Austin.
Megan Billingsley, CPA
Senior Associate,
Fund Accounting
Fund Accounting
Megan Billingsley, CPA
Senior Associate,
Fund Accounting
Fund Accounting
Joined 2020
About
Megan Billingsley oversees fund financial reporting, accounting, and day-to-day activities across various investment platforms and real estate funds. Her responsibilities include preparing and reviewing quarterly fund workpapers, GAAP financial statements, footnotes, and partner capital account statements. She also plays a crucial role in developing and monitoring systems and processes to ensure timely and accurate financial reporting, as well as coordinating with third-party firms on annual audits and tax return preparation.
Prior to joining Pennybacker, Megan was a senior associate with PwC’s Assurance practice. She performed financial statement audits on complex private equity funds and registered funds with multi-billion dollar assets under management. Megan led and delegated tasks to several teams to ensure collaboration and high quality work papers, to meet all deadlines, and to oversee the testing of material financial accounts and disclosures.
Megan holds a Bachelor of Science in Accounting and a Masters of Science in Accounting from Oklahoma State University, graduating with a 4.0 average. She is a CPA licensed to practice in Texas.
Prior to joining Pennybacker, Megan was a senior associate with PwC’s Assurance practice. She performed financial statement audits on complex private equity funds and registered funds with multi-billion dollar assets under management. Megan led and delegated tasks to several teams to ensure collaboration and high quality work papers, to meet all deadlines, and to oversee the testing of material financial accounts and disclosures.
Megan holds a Bachelor of Science in Accounting and a Masters of Science in Accounting from Oklahoma State University, graduating with a 4.0 average. She is a CPA licensed to practice in Texas.
Lingzi Hong, CPA
Senior Associate,
Corporate Accounting
Corporate Accounting
Lingzi Hong, CPA
Senior Associate,
Corporate Accounting
Corporate Accounting
Joined 2022
About
Lingzi Hong is responsible for the management and execution of corporate accounting and tax compliance. Her duties include preparing and reviewing financial statements for the corporate office, reviewing various state and federal filings, and coordinating with third-party tax preparers to ensure the timely completion of tax filings.
Prior to Pennybacker, Lingzi was a Tax Supervisor at RSM US LLP - Business Tax Service, where she managed tax compliance and ASC 740 reporting for middle market clients such as commercial real estate private equity partnerships, small-to-medium public companies, and large family offices in the Central Texas market. Lingzi was also the Tax Process and Technology lead for RSM’s tax team, hosting recurring tax law and tax technology trainings for all team members. Prior to RSM, Lingzi started her career at Thornhill Financial Inc. in Cleveland, a boutique accounting firm serving middle market clients in Northeast Ohio.
Lingzi graduated from Case Western Reserve University in Cleveland, Ohio with a Master of Accountancy. Additionally, she is a licensed Certified Public Accountant in both Ohio and Texas.
Prior to Pennybacker, Lingzi was a Tax Supervisor at RSM US LLP - Business Tax Service, where she managed tax compliance and ASC 740 reporting for middle market clients such as commercial real estate private equity partnerships, small-to-medium public companies, and large family offices in the Central Texas market. Lingzi was also the Tax Process and Technology lead for RSM’s tax team, hosting recurring tax law and tax technology trainings for all team members. Prior to RSM, Lingzi started her career at Thornhill Financial Inc. in Cleveland, a boutique accounting firm serving middle market clients in Northeast Ohio.
Lingzi graduated from Case Western Reserve University in Cleveland, Ohio with a Master of Accountancy. Additionally, she is a licensed Certified Public Accountant in both Ohio and Texas.
Cody Sarvello
Associate,
Fund Accounting
Fund Accounting
Cody Sarvello
Associate,
Fund Accounting
Fund Accounting
Joined 2024
About
Cody Sarvello is responsible for the day-to-day activities related to fund accounting, reporting, and operating activities of various real estate funds. His duties include preparing and reviewing quarterly fund workpapers, GAAP financial statements, footnotes, and partner capital account statements in addition to coordinating with third-party firms on annual audits and tax return preparation.
Prior to Pennybacker, Cody worked in fund accounting for Origin Investments out of Chicago. There, he managed the accounting activities for several multifamily real estate funds. Cody handled the quarterly financial statement preparation, weekly cash expenditure reporting, annual audit and tax preparation, partner capital account statement preparation and other various operating tasks.
Cody holds a Bachelor of Arts in Accounting from Michigan State University, a Master’s of Science in Accounting and an MBA from Loyola University Chicago.
Prior to Pennybacker, Cody worked in fund accounting for Origin Investments out of Chicago. There, he managed the accounting activities for several multifamily real estate funds. Cody handled the quarterly financial statement preparation, weekly cash expenditure reporting, annual audit and tax preparation, partner capital account statement preparation and other various operating tasks.
Cody holds a Bachelor of Arts in Accounting from Michigan State University, a Master’s of Science in Accounting and an MBA from Loyola University Chicago.
Madi Carpenter
Associate,
Fund Accounting
Fund Accounting
Madi Carpenter
Associate,
Fund Accounting
Fund Accounting
Joined 2023
About
Madi Carpenter is responsible for the day-to-day activities related to fund accounting, reporting, and operating activities of various real estate funds. Her duties include preparing and reviewing quarterly fund workpapers, GAAP financial statements, footnotes, and partner capital account statements in addition to coordinating with third-party firms on annual audits and tax return preparation.
Prior to Pennybacker, Madi worked in fund administration at Standish Management, where she managed accounting and investor relations for multiple private equity and venture capital groups. Madi supported her clients by preparing financial statements, conducting capital activity, communicating with investors, and coordinating with third-party firms. Madi began her career as an auditor at KPMG, working on clients within New York financial services sector.
Madi holds a Bachelor of Science in Accounting and a Masters of Science in Accounting, graduating with Honors from Texas Tech University in Lubbock, Texas.
Prior to Pennybacker, Madi worked in fund administration at Standish Management, where she managed accounting and investor relations for multiple private equity and venture capital groups. Madi supported her clients by preparing financial statements, conducting capital activity, communicating with investors, and coordinating with third-party firms. Madi began her career as an auditor at KPMG, working on clients within New York financial services sector.
Madi holds a Bachelor of Science in Accounting and a Masters of Science in Accounting, graduating with Honors from Texas Tech University in Lubbock, Texas.
Gabriela Carryl, CFA
Senior Analyst,
Finance
Finance
Gabriela Carryl, CFA
Senior Analyst,
Finance
Finance
Joined 2022
About
Gabriela Carryl is responsible for producing financial and real estate data analyses on asset and fund level performance. Her duties include quarterly investor reporting and due diligence, as well as fund model maintenance.
Prior to joining Pennybacker, Gabriela was a Performance Analyst at an investment consulting firm. She supported many client teams through the collection and analysis of client investment data, index database maintenance, and the preparation of custom client reporting materials.
Gabriela holds a Bachelor of Arts in Economics and a Master of Science in Finance from the University of Texas at Austin. She is also a CFA Charterholder.
Prior to joining Pennybacker, Gabriela was a Performance Analyst at an investment consulting firm. She supported many client teams through the collection and analysis of client investment data, index database maintenance, and the preparation of custom client reporting materials.
Gabriela holds a Bachelor of Arts in Economics and a Master of Science in Finance from the University of Texas at Austin. She is also a CFA Charterholder.
Andrew Lwanga
Analyst,
Accounting
Accounting
Andrew Lwanga
Analyst,
Accounting
Accounting
Joined 2024
About
Andrew Lwanga is responsible for quarterly investor reporting, fund accounting, as well as assisting with accounting for the management company.
Prior to Pennybacker, Andrew was an auditor at Whitley Penn. He executed financial statement and employee benefit plan audits for a variety of clients, including financial institutions, manufacturing, NFPs, and SEC registrants. Andrew began his career at Ameren Illinois as a Performance Analyst, where he provided FP&A across multiple departments and helped develop financial and accounting processes for new energy distribution and generation projects.
Andrew received his Bachelor of Science in Accounting at Bradley University in Illinois, where he played for 4 years on the men's soccer team.
Prior to Pennybacker, Andrew was an auditor at Whitley Penn. He executed financial statement and employee benefit plan audits for a variety of clients, including financial institutions, manufacturing, NFPs, and SEC registrants. Andrew began his career at Ameren Illinois as a Performance Analyst, where he provided FP&A across multiple departments and helped develop financial and accounting processes for new energy distribution and generation projects.
Andrew received his Bachelor of Science in Accounting at Bradley University in Illinois, where he played for 4 years on the men's soccer team.
Heather Armstrong
Analyst,
Corporate Accounting
Corporate Accounting
Heather Armstrong
Analyst,
Corporate Accounting
Corporate Accounting
Joined 2019
About
Heather Armstrong is the Accounting Assistant to the Head of Accounting. In this role, Heather assists with accounts payable and receivable and handles administrative duties.
Prior to Pennybacker, Heather began her career as a Merchandising Assistant at Gap, Inc. in San Francisco. Subsequently, she moved to Austin and joined Michael Deane Homes, a local high-end home builder, as the Office Manager. In this position, Heather handled the accounting for the office and the home building projects. From Michael Deane Homes, Heather joined the accounting team at Pluckers Wing Bar, a restaurant group with multiple locations in Texas and Louisiana.
Heather graduated from The University of Texas at Austin with a Bachelor of Business Administration.
Prior to Pennybacker, Heather began her career as a Merchandising Assistant at Gap, Inc. in San Francisco. Subsequently, she moved to Austin and joined Michael Deane Homes, a local high-end home builder, as the Office Manager. In this position, Heather handled the accounting for the office and the home building projects. From Michael Deane Homes, Heather joined the accounting team at Pluckers Wing Bar, a restaurant group with multiple locations in Texas and Louisiana.
Heather graduated from The University of Texas at Austin with a Bachelor of Business Administration.
Business Development
Amer Delic
Business Development
Amer Delic
Business Development
Joined 2022
About
Amer Delic’s responsibilities include developing and fostering the firm’s existing and prospective limited partners across Pennybacker Capital’s investment platform.
Before joining Pennybacker Capital, Amer was a Director of Business Development at Disruptive, a firm focused on late-stage technology investments. Previously he spent five years as a part of the UBS Private Wealth Management team, focusing on individual and family office relationships. He started his career as a Business Development Associate at Meritage Capital.
Amer completed his undergraduate degree in Applied Life Sciences from the University of Illinois, where he led the tennis team to an NCAA team and individual championships. Between 2004 and 2012, Amer competed globally on the ATP Tour (Association of Tennis Professionals).
Before joining Pennybacker Capital, Amer was a Director of Business Development at Disruptive, a firm focused on late-stage technology investments. Previously he spent five years as a part of the UBS Private Wealth Management team, focusing on individual and family office relationships. He started his career as a Business Development Associate at Meritage Capital.
Amer completed his undergraduate degree in Applied Life Sciences from the University of Illinois, where he led the tennis team to an NCAA team and individual championships. Between 2004 and 2012, Amer competed globally on the ATP Tour (Association of Tennis Professionals).
Administration
Erin Hollars
Office Manager & Executive Assistant to Leadership
Erin Hollars
Office Manager & Executive Assistant to Leadership
Joined 2018
About
Erin Hollars is an Executive Assistant to the CFO and the Office Manager. In these roles, Erin coordinates administrative tasks for the CFO and staff, to include schedule and office management, travel arrangements, and leadership team support, as needed. Along with managing reception, Erin oversees facility operations, event planning and the opening and maintenance of our new office sites.
Upon joining Pennybacker in 2018, Erin brought with her 10 years of experience in assisting executives as well as 18 years of management and leadership experience. Prior to Pennybacker, Erin worked as the Office Manager & Executive Assistant to the CEO of Mountain Medical Group, in Boulder, Colorado, and before that as an Executive Assistant to a Regional VP at Waddell & Reed, in Kansas City, Missouri.
Erin attended Kansas State University and holds an Associates of Applied Science in Apparel Textile & Marketing.
Upon joining Pennybacker in 2018, Erin brought with her 10 years of experience in assisting executives as well as 18 years of management and leadership experience. Prior to Pennybacker, Erin worked as the Office Manager & Executive Assistant to the CEO of Mountain Medical Group, in Boulder, Colorado, and before that as an Executive Assistant to a Regional VP at Waddell & Reed, in Kansas City, Missouri.
Erin attended Kansas State University and holds an Associates of Applied Science in Apparel Textile & Marketing.
Madison Lee
Executive Assistant to the CEO
Madison Lee
Executive Assistant to the CEO
Joined 2023
About
Madison Lee is the Executive Assistant to the CEO. In this role, she is responsible for providing high level administrative support, including effectively managing scheduling, travel, and communications for the CEO. Madison is a seasoned Executive Assistant with over 25 years’ experience, including over 6 years in the private real estate investment industry.
Prior to joining Pennybacker Capital in 2023, Ms. Lee worked as an Executive Assistant for over 6 years at Virtus Real Estate Capital, supporting the CEO. Prior to Virtus, she worked at CohnReznick for 12 years, supporting 3 partners and a team of 50. At CohnReznick, Madison performed a variety of administrative tasks, as well as managing tax returns and financial statements. Having held administrative support positions in the private real estate, accounting, retail, and government fields, Madison demonstrates a strong ability to streamline processes, maximize efficiency, and foster professional relationships within organizations and with clients.
After growing up in the Washington DC area and attending Montgomery College in Rockville, MD, Madison moved to Austin in 2015.
Prior to joining Pennybacker Capital in 2023, Ms. Lee worked as an Executive Assistant for over 6 years at Virtus Real Estate Capital, supporting the CEO. Prior to Virtus, she worked at CohnReznick for 12 years, supporting 3 partners and a team of 50. At CohnReznick, Madison performed a variety of administrative tasks, as well as managing tax returns and financial statements. Having held administrative support positions in the private real estate, accounting, retail, and government fields, Madison demonstrates a strong ability to streamline processes, maximize efficiency, and foster professional relationships within organizations and with clients.
After growing up in the Washington DC area and attending Montgomery College in Rockville, MD, Madison moved to Austin in 2015.
Our trajectory through the years.
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