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Skyscrapers and Sky
ALTERNATIVE ASSET CLASSES AND INVESTMENTS
Practice Area

SEDA Experts' Alternative Asset Classes and Investment Securities Practice comprises former senior executives who led global practices at leading commercial and investment banks, former regulators—including a former Commissioner of the Commodity Futures Trading Commission (CFTC)—and distinguished global economists.

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As industry leaders, our team has extensive expertise in various investment vehicles, including hedge funds, venture capital (VC) funds, private equity (PE) funds, and complex master-feeder fund structures. Our experts in commodities, emerging market securities, and foreign exchange (FX) instruments possess a deep understanding of global supply chains, geopolitical risks, and macroeconomic market dynamics, and they are also proficient in complex financial arrangements, such as insurance-linked financial products.

Additionally, our experts have substantial experience in structuring and managing a wide array of structured products, including complex structured credit instruments like collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), collateralized bond obligations (CBOs), and collateralized fund obligations (CFOs), among other asset-backed securities (ABSs). They are adept at facilitating complex investment structures through special purpose vehicles (SPVs), structured financing, and securitization processes.

Our team also possesses specialized knowledge in real estate investments, with expertise in real estate investment trusts (REITs) and both residential and commercial mortgage-backed securities (RMBSs and CMBSs).

This diverse expertise enables us to provide comprehensive insights and solutions across a broad spectrum of alternative asset classes and investment securities.


EXPERTISE

Commodities

SEDA Experts provides expert witness services in the global commodities market, leveraging extensive industry and regulatory experience. Our team includes former global heads of commodities trading, with expertise across diverse commodities sectors—agriculture, energy, gas, oil and refined products, metals, environmental finance, structured credit, investor products, and complex derivatives. In addition to general expertise, our specialists have deep knowledge of specific commodities such as dry freight, iron ore, fertilizers, biomass, emissions, petroleum coke, and both thermal and metallurgical coal.

Our experts leverage quantitative and fundamental analysis for physical and financial commodities instruments. Their skillset extends beyond trading to valuation, pricing, origination, fundamental analysis, operations, and associated derivatives.

Our team also brings significant expertise in the infrastructure underpinning commodities markets, including railways, ports, mines, transportation, freight, and storage. Their insights encompass the operational requirements vital to maintaining this infrastructure, which is crucial for seamless commodities trading.

Finally, our commodities experts include former regulators, such as a senior counsel and a former CFTC commissioner, adding an essential enforcement and compliance perspective. This blend of regulatory and industry knowledge enables SEDA to provide holistic expertise on a wide range of issues within the commodities and energy sectors.


Related Practices: Energy; Governance and ESG; Regulatory and Compliance

Emerging Markets Securities and Foreign Exchange (FX)

Hedge Funds, Private Equity, Venture Capital, Complex Fund Structures, and Financial Arrangements

Complex Structured Products and Investment Structures

Real estate related investment vehicles and products, including REITs and mortgage-backed securities, such as RMBSs, and CMBSs

Complex financial arrangements, including insurance-linked financial products: BOLI, COLI, and IOLI

Complex Investment Structures: Special Purpose Vehicles (SPVs), Structured Finance, and Securitization


RELATED EXPERTS

Richard A. Marin

Richard A. Marin

Managing Director

Richard Marin as a former finance senior executive with over 40 years of investment banking industry experience, and as a former clinical professor at Cornell University is a world class testifying expert in asset management, alternative investments, private equity investments, securities lending, retirement and pensions, and real estate / project financing.

Former 

Bear Stearns Asset Management - Chairman and CEO  Chairman and CEO 

Deutsche Asset Management - Chairman and CEO  Chairman and CEO

Expertise

Asset Management, Alternative Investments, Private Equity Investments, Securities Lending, Retirement and Pension, ERISA Funds Investment Standards, Real Estate / Project Financing

Dawn Stump

Dawn Stump

Managing Director

Dawn Stump is a highly seasoned financial executive and regulatory thought leader who recently served as a Commissioner of the Commodity Futures Trading Commission (CFTC). Her most recent areas of attention are business continuity, supply chain disruptions, cyber intrusion impact, integrity of emerging assets (e.g., crypto), data protection, and climate-related market risks.

Former 

U.S. Commodity Futures Trading Commission (CFTC) - Commissioner

Futures Industry Association - Executive Director Americas’ Advisory Board

Expertise

Derivatives Regulation, Enforcement, Surveillance, Commodity Markets, Public Policy

Maggie Sklar

Maggie Sklar

Managing Director

Maggie Sklar is a highly distinguished legal and policy professional with a comprehensive background in law, financial markets, and regulatory policy. She provides advisory services to financial institutions, regulated entities, and start-ups on futures, swaps, securities, and digital assets regulation or litigation.

Former 

Federal Reserve Bank of Chicago - Senior Policy Advisor and the Director of International Engagement, Financial Markets

U.S. Commodity Futures Trading Commission - Senior Counsel and Advisor to Chairman J. Christopher Giancarlo

Expertise

Financial Regulation Digital Assets and Cryptocurrency Derivatives Dodd-Frank Act

Peter U. Vinella, Ph.D.

Peter U. Vinella, Ph.D.

Managing Director, Advisor to the Board

Peter U. Vinella has more than 30 years of experience in the financial industry as a consultant and an executive with leading financial institutions. Mr. Vinella has extensive testifying experience acting as an expert for both plaintiff and defendant, involving more than 25 matters and including seven cases with more than $1 billion at stake.

Former 

Berkeley Research Group - Managing director

Wilmington Trust Conduit Services, LLC - President and CEO

Expertise

Trading and Investments, Risk Management, Operations, FinTech and Project Management, Quantitative Analysis, Custody, Trust, and Fund Administration, Repo and Securities Lending

Avinash Persaud

Avinash Persaud

Managing Director

Avinash Persaud is an expert on global finance and economics, on the role of public policy in banking and financial crises, and a specialist in financial regulation and emerging markets. He has over 30 years of experience as a senior executive in large financial institutions and a respected policy advisor to major global bodies such as the G20, OECD, United Nations, and G7 Central Banks.

Former 

Government of Barbados - Special Envoy to the Prime Minister on Investments and Financial Services

World Economic Forum - Member, Council on International Monetary System

Expertise

Fixed-Income Securities,  Emerging Markets, Banks Crises and Liquidity, State-dependent sovereign securities, GDP and Oil-Linked Bonds, International Banking Regulations

Mark J. Buono

Mark J. Buono

Managing Director

Mark Buono is a CMBS and CRE industry pioneer. He is a former Managing Director at Goldman Sachs where he held various roles in the commercial real estate business for 20 years, and a Managing Director and CRE Portfolio Manager at the Global Atlantic Financial Group. He is an expert in CMBS, CRE CDOs, and REITs, CRE Portfolio Management, and Risk Management.

Former 

Goldman Sachs  - Managing Director, Special Asset Group

Freddie Mac - Vice President, Mortgage Trading

Expertise

CMBS, CRE CDOs, and REITs, Commercial Real Estate Lending, CRE Portfolio Management, CRE Portfolio Risk Management

Bruno Roch

Bruno Roch

Managing Director

Bruno Roch has over 20 years of experience in energy markets covering both physical and derivatives transactions and has overseen global trading activities within Goldman Sachs and Trafigura amongst others. He is a world-class expert in Power, Gas, Dry Freight, Iron Ore, Fertilizers, Biomass, Emissions, Petroleum Coke, Thermal and Metallurgical Coal.

Former 

EuroChem and Suek - Head of Commodity Trading

Goldman Sachs - Senior Executive Director, Coal & Freight 

Expertise

Commodities ,Energy Markets, Energy Trading, Energy Infrastructure

Mitchell I. Gordon

Mitchell I. Gordon

Managing Director

Mitchell Gordon has over 30 years of industry experience as a C-suite executive, as partner at private equity firms, and as senior investment banker. He has extensive experience in Special Purpose Acquisition Companies (SPACs) as President and CFO, and he brings significant expertise in Investment Banking, M&A, and restructuring transactions.

Former

Cambridge Capital Acquisition Corp./SPAC - President and CFO
Interpool (NYSE: IPX) - EVP and CFO

Expertise

Special Purpose Acquisition Companies (SPACs), Mergers and Acquisitions (M&A), Investment Banking, Restructuring and Financing, Transportation and Logistics

David Pelleg

David Pelleg

Managing Director

David Pelleg has over 30 years of experience in the financial industry and is an internationally recognized expert in structured finance, alternative asset management (especially hedge funds and private equity), derivatives trading, structuring, and risk, as well as digital assets. He is now a full-time professor of finance at Kent State University.

Former

Ivy Asset Management - Head of Structured Solutions Group
Bank Of America - Principal, Structured Hedge Fund Products Group

Expertise

Hedge funds / private equity / alternative asset management Structured finance (CLO, CDO, CBO, CFO) Derivatives especially vanilla/exotic/exchange traded options Digital currencies and trading Hedge-fund-linked structured products Cases which are nonstandard, hybrid or with many moving parts

Babak Eftekhari

Babak Eftekhari

Managing Director

Babak Eftekhari has over 25 years of experience in the finance industry, primarily as an emerging markets and foreign exchange derivatives trader. He served as managing director and head of local European Emerging Markets trading at Goldman Sachs and then subsequently Bank of America Merrill Lynch.

Former

Bank of America Merrill Lynch - Managing Director, Head of Emerging Markets Trading, Europe

Goldman Sachs - Managing Director. Head of CEEMA foreign exchange trading, Emerging Markets FX options trading

Expertise

Emerging Markets Trading, FX Derivatives Trading, Structured Products, Emerging Markets Interest Rates 

Douglas Lucas

Douglas Lucas

Managing Director

Douglas Lucas has more than 30 years of experience in the financial industry and he is a world-class expert in fixed income and structured product's credit risk. He created Moody’s CLO rating methodology, and he invented measures of portfolio risk, such as the WARF and the diversity score, which are in wide use today.

Former

Moody's Investor Services  - Managing Director 

UBS and JPMorgan Chase - Head of CDO Research

Expertise

Rating Methodologies,  CDO Performance Analysis, Fixed Income Credit Risk, Cross-Sector Credit Analysis

Richard Jefferson

Richard Jefferson

Managing Director

Richard Jefferson is a former Global Head of Commodities Trading at Deutsche Bank with over 25 years of financial markets experience. He spent 19 years at Deutsche Bank in London and New York as a Foreign Exchange Derivatives Trader and then helped to build the energy trading franchise in North American Power and Gas, Oil and Refined Products.

Former

Deutsche Bank - Managing Director, Global Head of Commodities Trading


Expertise

Global Commodities Trading, FX Trading, Derivatives Trading, Commodities Markets

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