Ms. da Silva Vint is a seasoned professional and longtime executive at Brevet, previously serving as the firm’s Chief Compliance Officer and navigating several of its most complex transactions. She has been instrumental in supporting Brevet’s work to fund vital research and development, the revitalization of communities, job creation, and innovative breakthroughs in sustainable development. With almost two decades of experience executing M&A, private equity, and venture capital transactions, Ms. da Silva Vint possesses a deep expertise within Brevet’s core sectors of focus.

Brevet also announced that Mark A. Egert has been named Brevet’s Chief Compliance Officer. An accomplished compliance officer and regulatory counselor, Mr. Egert joined Brevet in 2022 and most recently served as its Director of Compliance and Managing Director on the Legal and Compliance team.

Doug Monticciolo, Chief Executive Officer and Co-Founder of Brevet Capital, commented, “Mei-Li is a seasoned, savvy investment professional with a diverse and unique skillset. As Chief Commercial Officer, she will be able to bring the full range of her creativity, strategic thinking, and business acumen to bear. I’m confident she will successfully spearhead the firm’s strategic commercial initiatives. I am equally pleased to see Mark take on an expanded leadership role at the firm. His talent and commitment are great assets to Brevet. I’m thrilled to continue working alongside both Mei-Li and Mark in their respective new roles.”

Ms. da Silva Vint added, “I am excited to begin a new chapter at Brevet and further support Brevet’s growth. I look forward to working closely with Doug and Brevet’s talented team to identify attractive investment opportunities.”

Mr. Egert noted, “Brevet is an exceptional organization, and I am proud to be a part of its growth. I look forward to taking on this new role and look forward to all we can accomplish in the coming years.”

Prior to joining Brevet Capital in 2016, Ms. da Silva Vint worked in Morgan Stanley’s Bank Resource Management division, where she covered institutional clients in fixed income and equity, and structured private secured loans. Ms. da Silva Vint began her career at McDermott Will & Emery, where she structured and executed various cross-border financial transactions. Throughout her distinguished career, Ms. da Silva Vint has received numerous industry accolades and was named to Pensions & Investments’ Influential Women in Institutional Investing in 2023 and PEI Media’s Women of Influence in Private Markets in 2022. She received a Juris Doctor from University of Michigan Law School and a Master of Business Administration (with honors) from Columbia Business School, and graduated magna cum laude from Virginia Polytechnic Institute and State University with a bachelor’s degree in English.

Before Brevet, Mr. Egert served as Chief Compliance Officer at multiple firms, including JP Morgan Investment Management Inc. (where he also was Managing Director and Head of Asset Management Compliance for the Americas), Brown Brothers Harriman, Cowen & Co., Yorkville Global Advisors and Voyager Digital.  Mr. Egert received a Juris Doctor with honors from George Washington University Law School and has a bachelor’s degree in history and political science with high honors from the University of Delaware.

About Brevet Capital

Headquartered in New York, Brevet Capital applies a specialty finance strategy focusing on opportunities related to the government sector. Brevet Capital originates and structures customized financing solutions that facilitate company growth initiatives. Since its inception, Brevet Capital has advised and structured over $20 billion of transactions. Brevet Capital has a 20-year track record of partnering with government agencies to provide unique financing solutions. For more information, please visit www.brevetcapital.com.

Media Contacts

Nathaniel Garnick/Jonathan Warren
Gasthalter & Co.
(212) 257-4170

The post Brevet Capital Names Mei-Li Da Silva Vint Chief Commercial Officer / Mark Egert Named Chief Compliance Officer appeared first on Brevet Capital Management.

Disclaimer

Brevet Capital Management, LLC’s (“Brevet”) refers to the attached article (the “Article”) written by a third party and titled “Women of Influence: Private Debt” (the “Honor”). Brevet’s inclusion of the Article about the Honor on its website may be deemed an “endorsement” under the SEC’s Investment Advisers Act Rule 206(4)-1 (the “Marketing Rule”). The Marketing Rule defines an endorsement as “any statement by a person other than a current client or private fund investor that indicates approval, support, or recommendation of the investment adviser or its supervised persons or describes that person’s experience with the investment adviser or its supervised persons.” To comply with the Marketing Rule, Brevet provides the following disclosures:

1. Source – The Article was written and the Honor was issued by PrivateDebtInvestor.com (“PEI”). According to its website, PEI is “a publication of record for the world’s private credit markets. It is written expressly for the providers and users of debt for private assets. The publication tracks the institutions, the funds and the transactions shaping the private debt markets.” PEI is published by PEI Group.
2. Period – The Honor covers the evaluation period from April 2021 to May 2022, and was announced on July 1, 2022.
3. Compensation – Brevet and Mei-Li da Silva Vint (“Mei-Li”), the subject of the Honor, were not directly involved in the nomination process, but notified by their public relations firm that a nomination was being submitted on Mei-Li’s behalf. Neither Brevet nor Mei-Li submitted any materials, responses, or nominations in connection with the selection process. No compensation, whether in the form of cash, services, subscriptions, or other consideration, was provided by Brevet or Mei-Li in exchange for receiving the Honor or being mentioned in the Article. For more information about Brevet’s compensation policies and disclosures, please refer to Brevet’s Form ADV Part 2, accessible at http://adviserinfo.sec.gov/firm/summary/151672.
4. Content of Article – The Article highlights Mei-Li’s role as Chief Compliance Officer and her contributions to Brevet’s strategic initiatives, growth efforts, and client relationships. The Article also mentions transactions or achievements attributed to Mei-Li’s leadership. Brevet did not provide this information to the publisher and is not aware of the specific sources used by the publisher in drafting the Article.
5. Potential Conflict – Brevet and Mei-Li were informed of the nomination by their public relations firm but were not involved in the selection process and did not influence the outcome. Brevet does not believe there is a conflict of interest related to the receipt of the Honor.
6. Compliance with Marketing Rule – Brevet has no reason to believe that PEI failed to comply with the SEC’s Marketing Rule, based on the following: (a) Brevet was informed by its public relations firm that Mei-Li was being submitted for consideration, but neither Brevet, Mei-Li, nor its public relations firm were involved in the selection process; (b) neither Brevet nor Mei-Li provided any compensation in connection with the receipt of the Honor; and (c) Brevet is not aware of any material conflict of interest related to the Honor.
7. No Client Testimonials – This disclosure relates solely to a third-party endorsement and does not constitute a testimonial by any client. Brevet does not solicit or selectively use client testimonials. Where client testimonials are used in other contexts, Brevet endeavors to comply with all applicable requirements of the Marketing Rule.

The post PEI Media names Mei-Li da Silva Vint as one of its 2022 Women of Influence in Private Markets, in the private debt category appeared first on Brevet Capital Management.

Disclaimer

“Brevet Capital Management, LLC’s (“Brevet”) refers to the attached article (the “Article”) written by a third party and titled “Sustainable Investments Awards 2022 Hedge Fund Manager of the Year” (the “Award”). Brevet’s inclusion of the Article about the Award on its website may be deemed to be a “third-party rating” under the SEC’s Investment Advisor Act Rule 206(4)-1 (the “Marketing Rule”).  The Marketing Rule defines third-party ratings as a “rating or ranking of an investment adviser provided by a person who is not a related person and such person provides such ratings or rankings in the ordinary course of its business.”  In order to comply with the Marketing Rule, Brevet is providing the following disclosures:

1. Source – The Article was written by Environmental-Finance.com (“Environmental Finance”), which, according to its website, is “an online news and analysis service established in 1999 to report on sustainable investment, green finance and the people and companies active in environmental markets.”  Environmental Finance is published by Field Gibson Media.
2. Period – The award covers the period from March 1, 2021, to April 1, 2022, and was announced on June 29, 2022.
3. Compensation – Until Environmental Finance contacted Brevet to inform the firm that they had chosen Brevet for the Award, the firm had no idea that it was under consideration.  Brevet did not provide any information to Environmental Finance in connection with the Award, nor did it pay any cash or non-cash compensation for the Award or its publication. For more information about Brevet’s compensation policies and other disclosures, please refer to Brevet’s Form ADV Part 2, accessible at http://adviserinfo.sec.gov/firm/summary/151672.
4. Content of Article – The Article explains Brevet’s strategy related to sustainability-focused businesses and lists a number of transactions on which Brevet supported innovative growth companies working on environmental solutions.  Brevet did not provide this information to Environmental Finance and does not know the source of such information.  The Article states that the listed transactions won Brevet the Award and that its “judges praised the investor for its clear investment in lending solutions companies.”
5. Potential Conflict – Given the lack of compensation or prior knowledge, Brevet does not see a conflict related to this third-party rating.  Brevet was one of 30 firms listed as award recipients by Environmental Finance for 2022.  Brevet is not aware of any questionnaire or survey used by Environmental Finance or its judges as a basis for deciding which firm would receive each of the awards.
6. Compliance with Marketing Rule – The Article lists a number of transactions in which Brevet was involved.  Brevet believes that a third party must have recommended Brevet for the Award.  Brevet does not know the identity of that endorser or other potential endorsers.   Brevet has no reason to believe that Environmental Finance did not comply with the Marketing Rule, based on Brevet: (a) having no knowledge that it was being nominated for the Award; (b) paying no compensation to receive or use the Award or for Environmental Finance to publish it; and (c) having no apparent conflict of interest.
7. No Client Testimonials – This disclosure relates solely to the third-party Award and Article and does not constitute an endorsement or testimonial from any client. Brevet does not selectively solicit or use client testimonials in connection with the Award.  If client testimonials are used in other contexts, Brevet aims to comply with applicable SEC marketing rules regarding fair solicitation and representation.

The post Brevet Named Hedge Fund of the Year by Environmental Finance appeared first on Brevet Capital Management.

Why is testing still necessary when there are already multiple vaccines available to Americans? In short, testing is more important than ever because it will allow public health officials to be able to react quickly when cases are increasing and prevent or interrupt outbreaks, whereas vaccinations are a prophylactic solution to prevent cases and, eventually, end the pandemic.

The investment from the Biden administration includes purchasing rapid tests that provide quicker results, expanding lab capacity so more tests can be processed, and implementing regular testing protocols at schools, prisons, long-term care facilities, and local governments.

Much of this proposed testing ramp-up will fall to government contractors, most of whom in turn will need an immediate infusion of capital in order to procure materials and get their operations off the ground as quickly as possible. That’s where specialty private credit providers like Brevet Capital prove their value. Not only is there a pressing need for capital to bridge the gap between project launch, completion and payment, but there is an equally critical need for financial expertise.

At Brevet, we have been working with federal and state agencies for more than 20 years and are in a position to provide newly-appointed officials with the financial guidance necessary to develop and execute mission-critical contracts. Brevet is providing financing for critical COVID testing operations and looks forward to continuing to play an integral role as our country takes the next step in moving past this crisis.

The post Private Capital’s Role in COVID Testing and Vaccination appeared first on Brevet Capital Management.

The COVID-19 pandemic has created difficult liquidity challenges for many companies due to a fundamental collapse of earnings and business models. Within the past year, corporate bankruptcies have dramatically increased and business earnings have fallen dramatically. The most concerning aspect is that there is no clear indication or projection for recovery.

Businesses with the vision to adapt to an evolving market will survive, but those that have been supported only by the low cost of capital are susceptible to fail regardless of their price of debt and how it is restructured. Lowering of interest rates and providing liquidity likely will not rescue these companies again. Some companies may get a lifeline from credit managers that have significant undeployed capital or raised large sums of money for distressed investment opportunities presented by the pandemic, but the fundamental question still remains: can earnings and business models recover and how long will it take?

As investors weigh their optimal exposure to private credit strategies, they should consider that distressed investing is often a risky bet dependent upon when and how a market recovers. Financing the recovery and its related economic development initiatives presents a more stable and more impactful opportunity. Since the outbreak of the pandemic, the Federal Reserve and U.S. Treasury have injected several trillions of dollars into the economy. Financing the recovery means focusing on targeted opportunities that work alongside the government’s initiatives and have government payments or guarantees, reducing or, even eliminating, the uncertainty of predicting which companies can and will adapt and survive and which will not.

The Role of Private Credit in the Recovery

Private credit funds are expected to play a significant role in the market recovery, with many managers seeking to invest in distressed assets with hopes they will recover. However, it is important to remember that growth of this asset class in recent years has been accompanied by signs of increased risk-taking.

As managers seek to shore up their existing portfolios, many are attempting to mitigate performance declines by raising new distressed funds to take advantage of market dislocation opportunities and help restructure balance sheets. Such funds may be providing liquidity to companies that are restructuring their overleveraged balance sheets but may still have business models that may or may not survive the current crisis given the uncertainty around how long the recovery will take.

Focus on Specialty Finance

Companies with traditional business models face difficult third and fourth quarters as the reopening of the economy is expected to be slow and fraught with many interrelated complications and increased costs. Therefore, it is important for investors to focus on specialty finance–specifically, alternative credit strategies that are substantially less uncorrelated to the broader economy, have strong capital protections and collateral and offer compelling risk adjusted returns in today’s market.

In Conclusion

Private credit mangers who maintained their discipline and had the foresight to avoid borrower-friendly private equity sponsor deals and correlated exposures, and alternative credit managers that see the value of partnering with governments to effectively re-animate the economy will ultimately be rewarded.

The post A Focus on Specialty Finance for COVID Recovery appeared first on Brevet Capital Management.

1. Let’s get the contract first and figure financing out at the last minute.
If a company’s contract is in hand and they have not already discussed a working capital solution, it could seriously set them back. Governments treat financing sources in different ways, and many of them have standard clauses that restrict financing types. This is not a problem for large government contractors with substantial bank lines and access to capital markets, but for a company needing financing to get started on providing products or services, realizing these restrictions may exist too late may turn a dream opportunity into a nightmare scenario.

2. Don’t worry, the government will front me.
While this happens in certain scenarios, they are few and far between. More often, contractors will find that a government expects some work to be done or some expenditures generated before anything is billed, and these are not on anyone’s radar for a fast track payment.

3. I can get financing from a bank / any finance company will do it.
Banks do not take potential into account–they are about historical performance and assets–and often say no, even to clients of many years, for a variety of reasons. Even finance companies that are not banks often find it difficult to work under the long payment cycles, intricate billing issues, or regulations of certain government entities, which they may not initially understand if they are not experts. At that point, even someone who initially agrees to finance may pull back when you need them most.

4. My government contacts won’t like it, they’ll think I’m weak.
Perception is not necessarily reality. There may be a perception that receivables financing is complicated, intrusive, or disliked by the government. There may be a perception that if a finance provider talks to your government client, they may be cause disruption. The reality is that your government contract contacts will see your ability to bring the necessary capital from a substantial government financing specialist as tremendously positive. It cements the option that you will fully perform on the contract, which is what matters most to them.

5. Receivables finance is expensive.
While not in the same price league as a mortgage or a bank line, receivables financing is about opportunity costs. Opportunity cost is defined as “the loss of potential gain from other alternatives when one alternative is chosen.” If you are leaving opportunity on the table because you are not armed with financing—financing that ultimately costs but a small fraction of the overall transaction—then not taking the opportunity is the most expensive alternative of all.

As the COVID crisis continues to evolve, receivables financing is only expected to become more complex. It’s important to note that prior experience financing projects may not always apply to government contracting, and it’s a smart move to seek advice from a government financing specialist like Brevet Capital before committing resources.

The post 5 Myths of Receivables Finance for Growing Government Contractors appeared first on Brevet Capital Management.