In this episode, we’re joined by Leigh Hoagland, co-founder and former CEO of New York Private Finance and now senior advisor to the firm. Leigh shares the backstory of a borrower we’ll call “Bob”—a food entrepreneur who used a facility from NYPF to buy out a minority partner and retain full control of his company.
We explore why Bob borrowed personally instead of through the company, how we structured the facility using a blend of illiquid private equity and participating interest, what made the deal a win for both the borrower and NYPF, and how our model differs from mezzanine and other private credit providers.
Leigh also shares reflections from his time at Bankers Trust and Deutsche Bank, and explains how regulatory shifts gave rise to the NYPF model.
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