Interim Business Financing Team

Theresa Shutt Theresa Shutt CFA, MBA, MA

Senior Vice President, Corporate Debt Financing

647 260-4847 tshutt@fieracapital.com

Theresa Shutt is Senior Vice President for Corporate Private Debt at Fiera Private Debt. Prior to joining Fiera Private Debt in July 2019, she was the Chief Investment Officer of Private Debt with Integrated Asset Management.

Ms. Shutt is responsible for the overall strategic direction and operation of the Corporate Debt Financing Team. In this role, she provides leadership in support of business development, investment approval, fund strategy and portfolio management. With over 20 years of experience in corporate lending and capital markets, she contributes to the success of the business by growing AUM through strategic capital deployment and the development of innovative private debt strategies.

Prior to Fiera Private Debt, Ms. Shutt was a Managing Director with BMO Corporate Finance where she developed customized financing solutions for mid-market Canadian Companies. Previous to this role, she held a variety of roles at RBC and Scotiabank structuring fixed income and equity derivatives for corporations and asset managers. She began her career working as an economist for the Conference Board of Canada.

Theresa Shutt holds a Bachelor of Arts (BA) in Economics (Honours) from the University of Alberta, a Master of Arts (MA) in Economics from McMaster University and a Master of Business Administration (MBA) from the Rotman School of Management of the University of Toronto. Ms. Shutt is a Chartered Financial Analyst (CFA) charterholder.

Brian Ko Brian Ko BSc, MBA, CFA

Managing Director, Corporate Debt Financing

647 260-4835 bko@fieracapital.com

Prior to joining Fiera Private Debt in July 2019, Brian Ko had worked at Integrated Asset Management Corp. with the Private Debt Group since 2011. Mr. Ko was responsible for origination, client negotiations, deal structuring, financial analysis, due diligence, and portfolio management.

Prior to joining Integrated Asset Management, he spent four years in fixed income research at DBRS, where he was most recently an Assistant Vice President in the energy group.

Mr. Ko holds a Bachelor of Science (BSc) in Computer Science and Commerce from the University of Toronto, a Master of Business Administration (MBA) from the Darden Graduate School of Business at the University of Virginia and he holds the Chartered Financial Analyst (CFA) designation.

Daniel Patenaude Daniel Patenaude MBA, BBA

Managing Director, Business Financing

514 770-1920 dpatenaude@fieracapital.com

With more than 25 years of experience in the banking industry, mostly in business financing and international trade, Daniel Patenaude joined the Fiera Private Debt Team in 2017.

An experienced business industry leader, Mr. Patenaude has held several strategic positions, helping bring a number of complex projects to fruition during his career. He has also led teams of account managers, cash management specialists and financial analysts. Mr. Patenaude also headed the National Bank’s Corporate Financing Group, leading a team of major accounts financing professionals responsible for mergers & acquisitions for Quebec.

Holding a Master of Business Administration (MBA) in international trade and a Bachelor’s degree in Business Administration (BBA), specialized in finance from HEC Montréal, Daniel Patenaude has an important network of business contacts.

Dino Fracassi Dino Fracassi CFA, BBA

Managing Director, Business Financing

416 642-4976 dfracassi@fieracapital.com

Dino Fracassi joined the Business Financing Team in June 2017.

Mr. Fracassi has over 20 years lending experience, covering a wide range of businesses from small private companies to large publicly traded corporations. In his most recent role, he was a key contributor to Scotiabank’s Toronto-GTA Structured Commercial Banking team where he managed a loan book of over $500 million of assets. Prior to this role, Mr. Fracassi worked at HSBC Bank Canada where he led a commercial banking team and helped establish a leverage finance team. The leverage finance team worked closely with private equity sponsors by providing leveraged credit facilities in support of sponsor backed M&A activity. Earlier in his career, Mr. Fracassi held credit adjudication roles at Credit Suisse Canada and Scotiabank-Global Risk Management.

Dino Fracassi holds a Bachelor's degree in Business Administration (BBA) from Ryerson University. He holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Society Toronto.

Madalina Dragomirescu Madalina Dragomirescu BCom

Managing Director, Corporate Debt Financing

438 873-4346 mdragomirescu@fieracapital.com

Madalina Dragomirescu joined Fiera Private Debt in December 2021 after a 17-year career at HSBC Bank, where she held various senior roles within Commercial and Corporate Banking in Montreal and Toronto. Most recently, she led the South Shore and Eastern Townships region, where her mandate was to build a team of account managers and financial analysts in order to develop this strategic growth market.

Previous roles include leading Quebec’s cash management team, corporate credit adjudication, client relationship management and business development. She also held a director role on the board of directors of Hong Kong Canada Business Association. Ms. Dragomirescu has extensive experience in structuring complex transactions and has guided many clients with their financing needs.

Madalina Dragomirescu holds a Bachelor’s degree in Commerce with a Major in Finance from McGill University, where she graduated with great distinction. She also studied at Vienna University of Economics, German being one of the five languages that she speaks fluently.

Neil Macpherson Neil Macpherson BSc, MBA

Managing Director, Corporate Debt Financing

905 467-7578 nmacpherson@fieracapital.com

With more than 25 years of experience as a mortgage broker, commercial lender and business development manager with financial institutions, Neil Macpherson joined the Fiera Private Debt Team in 2019.

Prior to joining Fiera Private Debt, Mr. Macpherson had gained extensive lending experience while working in senior banking and investment fund roles at BDC and ROI Capital. In these prior roles, he was responsible for deal origination, client negotiations, deal structuring, due diligence as well as portfolio management. Mr. Macpherson also has extensive management experience gained while leading successful commercial lending teams in his prior roles.

Neil Macpherson holds a Bachelor of Science (BSc) in Biology and a Master of Business Administration (MBA) from McMaster University.

Nelson Penelas Nelson Penelas MBA

Managing Director, Corporate Debt Financing

647 354-4252 npenelas@fieracapital.com

Prior to joining Fiera Private Debt in June 2020, Mr. Penelas worked at BMO Corporate Finance within the Diversified Industries Group where he was responsible for origination, deal structuring, due diligence, and execution of corporate lending transactions in Canada and Internationally.

Prior to joining BMO, Nelson Penelas spent four years in the Leverage Finance Group at CIT Corporate Finance, where he was a Director responsible for the origination, due diligence and execution of leveraged buyout supporting Canadian and US Financial Sponsors.

Mr. Penelas holds a Bachelor of Arts (BA) from Wilfrid Laurier University and a Master of Business Administration (MBA) from the Manchester Business School at the University of Manchester.

Rory O'Leary Rory O'Leary MBA, BA

Managing Director, Corporate Debt Financing

647 402-8581 roleary@fieracapital.com

Rory O’Leary has 18 years of professional experience with range of disciplines within the Banking and Financial Services Industry. Prior to joining Fiera Private Debt in 2020, Mr. O’Leary held a senior Banking position with TD Bank where he was responsible for managing a senior commercial portfolio of clients with approximately $400 million in authorized credit.

Mr. O’Leary has strong experience in client relationship management, credit risk assessment and monitoring, business development and commercial credit structuring. He also has experience in financial advisory including corporate consulting, Merger & Acquisition Services and business valuation.

Rory O’Leary holds a Bachelor of Arts (BA) from the University of Windsor, a graduate certificate in management from École Supérieure de Commerce (France) and a Master of Business Administration (MBA) from Griffith University (Australia).

Russell French Russell French MAcc, CPA, CA, CIRP, LIT

Managing Director, Special Loan Management

416 557-2958 rfrench@fieracapital.com

With more than 22 years of experience in corporate restructuring, Russell French joined Fiera Private Debt as Managing Director, Special Loan Management in 2021 to support the investment team on non-performing loan management, credit structuring and special situations.

Prior to joining Fiera Private Debt, Mr. French was an Assistant Vice President at Business Development Bank of Canada (BDC) where he led BDC’s Business Restructuring Unit for the Ontario and Atlantic Regions. In this role, he was responsible for strategy development and risk management related to special loans in the bank’s portfolio. Previous to this role, Mr. French was a senior practitioner in Ernst & Young’s Corporate Restructuring Group. For more than 15 years, he advised lenders, management and other stakeholders in Canadian and cross-border restructuring matters including restructuring strategy, refinancing, business viability assessment, business plan development and the preservation and enhancement of stakeholder value.

Russell French holds a Bachelor of Arts in Chartered Accountancy and a Master of Accounting from the University of Waterloo. He is a CPA, CA as well as a Chartered Insolvency and Restructuring Professional (CIRP) and a Licensed Insolvency Trustee (LIT).

Andrew Bassin Andrew Bassin MMA

Senior Director, Business Financing

647 622-9026 abassin@fieracapital.com

Andrew Bassin joined the Business Financing Team in June 2017 and he participates in all aspects of Fiera Private Debt’s investment activities with a primary focus on origination, evaluation and monitoring of investments.

Prior to joining Fiera Private Debt, Mr. Bassin held several roles within Scotiabank’s Corporate Banking group and helped facilitate the successful launch of their National Account’s group.

Andrew Bassin graduated from the Smith School of Business at Queen’s University with an Honours Bachelor of Commerce (BCom) and he holds a Master’s degree in Management Analytics (MMA) with distinction also from the Smith School of Business.

Varun Bhardwaj Varun Bhardwaj CFA, CAIA, BBA

Director, Corporate Debt Financing

647 260-4849 vbhardwaj@fieracapital.com

Elliott Venessy Elliott Venessy MSc

Associate Director, Business Financing

438 347-9000 evenessy@fieracapital.com

Maëlle Desjardins Maëlle Desjardins CPA-auditor

Associate Director, Corporate Debt Financing

514 892-0456 desjardinsm@fieracapital.com

Maëlle Desjardins joined Fiera Private Debt in January 2019 and became a member of the Corporate Debt Team in January 2022. Previously, she held the position of Senior Financial Analyst within the Risk Management Team, where she was involved in the credit approval process of the different business lines.

As an Associate Director, Ms. Desjardins is responsible for supporting the Corporate Debt Team in analyzing complex transactions. Prior to joining Fiera Private Debt, Ms. Desjardins spent five years in audit at KPMG in Montreal.

Maëlle Desjardins holds a Bachelor’s degree in Business Administration (BBA) and Graduate degree in Accounting from HEC Montréal. She is a Chartered Professional Accountant and is a member of the Ordre des comptables professionnels agréés du Québec. Maëlle also completed the Chartered Business Valuation program with the CBV Institute and successfully passed the Membership Qualification Exam in September 2021.

Remy Orpen Remy Orpen BCom

Associate Director, Corporate Debt Financing

647 291-4079 rorpen@fieracapital.com

Remy Orpen is an Associate Director on the Corporate Debt Team at Fiera Private Debt. Prior to joining Fiera Private Debt in July 2019, she was a Financial Analyst on the Private Debt Team with Integrated Asset Management.

As an Associate Director, Ms. Orpen is responsible for supporting the Corporate Debt Team in analyzing new financing transactions, credit risk assessment, credit structuring and portfolio monitoring.

Ms. Orpen holds a Bachelor of Commerce (BCom) with a specialization in Accounting from the University of Guelph.

Stella Nguyen Stella Nguyen CFA

Associate Director, Business Financing

416 642-4980 snguyen@fieracapital.com

Stella Nguyen joined Fiera Private Debt Team in January 2020.

Prior to joining Fiera Private Debt, Ms. Nguyen was a part of Group Risk Management at Royal Bank of Canada where she was responsible for credit ratings and supported adjudication for corporate clients. Previously, she was working at Proteus Performance where she deduced asset mixes, conducted manager searches and monitored fund performance for institutional investors.

Stella Nguyen graduated with an Honours Bachelor of Arts from Ivey Business School and holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Society Toronto.

Gabriel Gamache Gabriel Gamache BBA

Financial Analyst, Business Financing

647 223-1574 ggamache@fieracapital.com

Gabriel Gamache joined Fiera Private Debt in 2015 and he has been a member of the Business Financing Team since 2020.

As a Financial Analyst, Mr. Gamache is responsible for supporting the Business Financing Team in the risk management of the loan portfolio and the financial analysis of new investment opportunities. Previously, he held the position of Analyst within the Real Estate Financing Team, where he was in charge of conducting due diligence as well as analyzing various types of construction projects.

Mr. Gamache holds a Bachelor’s degree in Business Administration (BBA) with a specialization in Finance from the Université du Québec à Montréal.