Board of Directors
Mr. Ainsberg currently serves as a director of Medley Capital Corporation, a closed-end, externally managed
financial services company that trades on the New York Stock Exchange, where he is the lead independent
director, the Chairman of the Nominating and Corporate Governance Committee and a member of the Audit
Committee. Previously, Mr. Ainsberg served as Chairman of the Audit Committee and member of the
Compliance Committee of the board of directors of Nomura Securities International, Inc. (the U.S. based
broker-dealer of The Nomura Group) from 1996 through December 2014. In September 2012, Mr. Ainsberg
was named to the board of directors of Nomura Global Financial Products, Inc., and in July 2013, he was
named to the board of directors of Nomura Holding America, Inc. He served on each board through
December 2014. From July 2003 until May 2012, Mr. Ainsberg served as a director of National Financial
Partners Corporation, an independent financial services distribution company. From August 2009 until June 2011, Mr. Ainsberg served as Chief
Operating Officer of Lehman Brothers Inc. in liquidation. From December 2003 until July 2009,
Mr. Ainsberg served as the Independent Consultant for Morgan Stanley & Co. under the Global
Research Settlement and was responsible for selecting and monitoring the providers of independent
research for clients of Morgan Stanley. Previously, Mr. Ainsberg was Chief Operating Officer at two
investment partnerships, Brahman Capital Corp. from 1996 to 2000 and Bessent Capital Corp. during
2001. He also served as Chairman of the New York State Board for Public Accountancy from 1999 to
2000 and was a member of that board from 1993 to 2001. From 1998 to 2000, he was also a member of
the Board of District 10 of the National Association of Securities Dealers. He has served as a director of
the Company since 2013.
|Mr. Berger was vice chairman of the executive committee of Sterne, Agee & Leach, a registered
broker-dealer and a member of the NYSE, from 2007 until 2009. From 2003 until 2006, he was a
Senior Managing Director of C.E. Unterberg, Towbin, a U.S. investment bank. Mr. Berger has also held
senior positions in financial institutions in New York, London and Geneva, and has practiced law in
New York and Paris. He is now an independent consultant. Mr. Berger was a member of the board of
directors of Thermadyne Holdings Corp., a NASDAQ listed company from 2003 until the sale of the
company in December 2010. He served as chairman of the nominating and corporate governance
committee and as a member of the compensation committee. He also has served as a member of the
Board of Governors of the National Association of Securities Dealers. Mr. Berger has a bachelor’s
degree in finance from Lehigh University and a J.D. degree from Columbia University. He has served
as a director of the Company since 2011.
|Mr. LaManna worked at William Blair & Company, LLC from 1987 until his retirement in 2005.
During his tenure at William Blair, he served in several different roles, including senior specialty
finance analyst, head of the business services group, and director of research. In addition, he was a
member of the firm’s executive committee, equity capital markets committee and audit committee for
four years. Mr. LaManna has served on the boards of directors of several privately-held companies in
the financial services industry. He is a Chartered Financial Analyst, and he holds a B.A. degree in
economics and business administration from Knox College and an M.B.A. degree in finance from The
University of Chicago. He has served as a director of the Company since 2011.
|Mr. Lieberman joined Angelo, Gordon in June 2008 as head of the firm’s residential mortgage securities
business and in 2017 became Co-Head of the firm’s Structured Credit Platform. He is a Managing Director
and a member of the firm’s executive committee. Prior to joining Angelo, Gordon, Mr. Lieberman worked
from April 1997 to June 2008 at Bear, Stearns & Co. Inc. ultimately as a Senior Managing Director in the
Strategic Finance/Financial Institutions Group, primarily focused on the Specialty Finance Sector. Before
that, Mr. Lieberman was a Senior Analyst in the Structured Finance Group of Moody’s Investors Service and
an attorney in the New York and Los Angeles offices of the law firm Dewey Ballantine LLP, where he
specialized in securities law and structured finance. Mr. Lieberman holds a B.A. degree from Vassar College
and a J.D. degree from Hofstra University School of Law. He is also on the Board of Managers for Arc
Home LLC. He serves as our President and has served as a director of the Company since 2011.
|Dr. Linneman is currently the Emeritus Albert Sussman Professor of Real Estate, Finance, and Public
Policy at the University of Pennsylvania, Wharton School of Business where he has been on the faculty
since 1979. At Wharton, he was the Director of the Samuel Zell and Robert Lurie Real Estate Center
from 1986-1998 and the Chairperson of the Wharton Real Estate Department from 1994-1997. He
holds both a masters and a doctorate degree in economics from the University of Chicago. Dr.
Linneman is also the founding principal of Linneman Associates, a real estate advisory firm, and the
CEO of American Land Funds and KL Realty Fund, private real estate acquisition firms. He currently
serves on the board of directors of Atrium European Real Estate Ltd. (VIE: ATRS), a public European
real estate company, Regency Centers Corporation (NYSE: REG), Paramount Group, Inc. (NYSE:
PGRE) and Equity Commonwealth (NYSE: EQC), each of which is a public real estate investment
trust. Dr. Linneman joined the board of Regency Centers Corporation when Equity One, Inc., where he
was a director since 2000, merged with and into Regency Centers Corporation on March 1, 2017.
Additionally, Dr. Linneman has notified Atrium European Real Estate Ltd. that he will not stand for reelection
as a board member at its next annual general meeting in April 2017. Dr. Linneman has served
on over 20 public and private company boards, including as a director of eight New York Stock
Exchange listed companies. He has served as a director of the Company since 2011.
|Mr. Roberts joined Angelo, Gordon in 1993 and is Head of Strategy. He is a Senior Managing Director and a
member of the firm’s executive committee. At Angelo, Gordon, Mr. Roberts has been responsible for helping
start and grow a number of the firm’s businesses, including opportunistic real estate, private equity, net lease
real estate, residential mortgage-backed securities and energy lending. Within private equity, Mr. Roberts has
focused in particular on investments in the specialty finance area, including Angelo, Gordon’s investment in
PRA Group, Inc. (formerly Portfolio Recovery Associates, Inc.), a leading publicly traded acquiror of unpaid
and normal-course accounts receivable, where he serves as lead director of the board. Prior to Angelo,
Gordon, Mr. Roberts was a Principal at Gordon Investment Corporation, a Canadian merchant bank, from
1989 to 1993, where he participated in a wide variety of principal transactions. He also worked in the
Corporate Finance Department at L.F. Rothschild where he specialized in mergers and acquisitions. Mr.
Roberts has a B.S. degree from The Wharton School of the University of Pennsylvania. He serves as our
Chairman, Chief Executive Officer and Chief Investment Officer and has served as a director of the
Company since 2011.
|Mr. Stadelmaier joined Angelo, Gordon in July 2008 and is the firm’s Chief Financial Officer.
Mr. Stadelmaier served as our Chief Financial Officer from the date of our initial public offering until
September 4, 2013. Previously, Mr. Stadelmaier was a Senior Manager at Ernst & Young LLP from 1997 to
2008 where he served clients in the real estate and financial services industries. Mr. Stadelmaier is a Certified
Public Accountant and holds a B.S. degree from the State University of New York at Albany. He has served
as a director of the Company since 2012.