Steven P. Baum

Managing Member

Mr. Baum is a Founder and Principal of Five Mile. Prior to Five Mile, Mr. Baum served as Executive Vice President at PaineWebber for approximately six and a half years, where he oversaw Investment Banking and the Fixed Income and Equity Trading, Sales and Research areas. Prior to this experience, Mr. Baum spent nine years at Kidder, Peabody, where he built and managed a broad-based and highly successful fixed income business franchise. Mr. Baum began his Wall Street career at Salomon Brothers in 1979, where he supervised the whole loan trading area of the Mortgage Department and worked in the mortgage research area of the Bond Portfolio Analysis group. Mr. Baum earned a PhD in Applied Mathematics from Cornell University and a BA in Philosophy from Syracuse University.

James G. Glasgow, Jr.

Managing Member, Portfolio Manager

Mr. Glasgow has been with Five Mile since its inception in 2003. Prior to Five Mile, he served as Senior Vice President/Executive Director at UBS Warburg and its predecessor PaineWebber for four years, where he was responsible for originating, underwriting and structuring large loans and mezzanine investments totaling over $2 billion to institutional quality commercial real estate owners. Mr. Glasgow served in senior management roles at Prime Capital Funding LLC, ING Capital Corp. and MIG Financial Corp., where he developed important commercial real estate finance businesses that transacted in a broad range of debt products. Mr. Glasgow worked at The Travelers Insurance Company and subsidiaries for approximately six years as a real estate mortgage portfolio manager and lender, where he was actively involved in maximizing portfolio valuations through debt restructures, foreclosures, bankruptcy litigation, asset sales, discounted payoffs and seller financing. At the time he left Travelers he was responsible for multiple commercial real estate debt portfolios totaling over $4 billion in assets. Mr. Glasgow began his career in 1984 at Chemical Bank where, over the course of five years, he executed short-term financings of over $1 billion for major commercial real estate owners. Prior to his departure, he was the Manager of the Mid-Atlantic region, with over $1 billion in assets. He holds an MBA in International Business from George Washington University and a BA in Business Administration from Lebanon Valley College.

Thomas A. Kendall

Managing Member, COO, CFO

Mr. Kendall is a Founder and Principal of Five Mile. Prior to Five Mile, Mr. Kendall founded, developed and managed a succession of fixed income investment management and trading businesses. For more than 20 years, he held positions of responsibility for the following business areas, among others: Financial Security Assurance Holdings Ltd – Establishment and oversight of the Asset Management Group; Koch Industries – Head of Derivatives and Global Financial Trading; Wasserstein Perella Asset Management – Founder and CIO; Greenwich Capital – Manager, Mortgage and Asset backed Department; and Kidder, Peabody – Head of Contract Trading and Mortgage Sales. Mr. Kendall began his career at Salomon Brothers in 1977, where he was a founding member of the Mortgage Department. He has a BS in Economics, Finance and Accounting from the Wharton School of the University of Pennsylvania.

Konrad R. Kruger

Managing Member

Mr. Kruger is a Founder and Principal of Five Mile. Prior to Five Mile, Mr. Kruger served as CEO of the Corporate Bank for NatWest Bank and as a member of the NatWest Bank Management Committee. He acted as Co-CEO of Greenwich NatWest, the NatWest investment bank, and its predecessor Greenwich Capital entities for more than 12 years. He joined Greenwich Capital in 1983 and oversaw its development into a significant force in the fixed income markets. Prior to his experience at Greenwich Capital, Mr. Kruger worked at Chemical Bank for six years and was a Vice President at the time of his departure. Mr. Kruger earned an MBA from the Amos Tuck School at Dartmouth College and an AB in Economics from Trinity College in Hartford, CT.

Scott Leitman

Managing Director

Mr. Leitman has been with Five Mile since inception in 2003. Prior to Five Mile, he served as Vice President in the Real Estate Department at Salomon Smith Barney Inc., where, among other responsibilities, he was an active member of the Credit Committee, determining policies and procedures for the commercial mortgage loan conduit and actively monitoring portfolio credit exposures. He acted as First Vice President at PaineWebber and Kidder, Peabody for more than nine years in aggregate, where he developed, built and managed an extensive mortgage loan closing operation, and coordinated and managed the purchase and disposition of numerous mortgage loans and collateral assets. For the preceding six years, Mr. Leitman acted as an Underwriting Manager and Acquisitions Manager for a number of depository institutions. Mr. Leitman holds a BA from State University of New York at New Paltz and has conducted post-graduate studies in real estate at New York University and law at Adelphi University.

Tao Li

Managing Director, Co-Head of Commercial Real Estate

Mr. Li joined Five Mile in 2008. Prior to joining Five Mile, he served as a Director at Barclays Capital for four years, where most recently he was in charge of its Non-Japan Asia (NJA) Mortgage-Backed Securities (MBS) trading business. Before Barclays Capital, he spent about ten years at RBS Greenwich Capital and its predecessors Greenwich NatWest and Greenwich Capital Markets, where he was a Senior Vice President and held various positions including MBS derivatives trading, and market risk management. Mr. Li holds a PhD and an MS in Electrical Engineering from Columbia University and a BS in Electrical Engineering from Tsinghua University.

Almond L. Nickerson, III

Managing Director

Mr. Nickerson has been with Five Mile since November 2006. Prior to Five Mile, he served as a Director and head of the High Yield Real Estate Debt Group at Citigroup Property Investors, where his primary responsibilities included investing in high yield CMBS investments. At Citigroup, Mr. Nickerson’s portfolio of sub-investment grade CMBS investments is estimated to have generated opportunistic level returns. He joined Travelers Group (a predecessor by merger to Citigroup) in 1994, where he held various real estate investment positions and was responsible for the origination of commercial mortgages, B-notes and mezzanine loans as well as the acquisition of investment grade and sub-investment grade CMBS. In addition, he served on the investment committee and board of directors for two commercial real estate mezzanine debt funds. Prior to his work with Travelers Group, Mr. Nickerson spent four years performing workouts on portfolios of non-performing commercial mortgage loans with Aetna and The Travelers Insurance Company. Before entering the real estate industry in 1989, Mr. Nickerson spent three years in a management development program with Emhart Corporation, a multinational Fortune 500 company. He holds an MBA from the University of Chicago Booth School of Business and a BS in Business Administration from the University of Connecticut.

David Reynolds

Managing Director

Mr. Reynolds joined Five Mile in 2007. Prior to joining Five Mile, Mr. Reynolds spent nearly four years with Citigroup Property Investors, most recently as a Senior Investment Officer in the group’s North America real estate opportunity fund. Prior to joining Citigroup, he spent fourteen years in real estate investment banking at UBS Warburg and its predecessor companies, Kidder Peabody and PaineWebber. He was a Managing Director at PaineWebber and following the merger with UBS, a Senior Calling Officer. Mr. Reynolds began his career in 1984 at Arthur Andersen & Co. as an auditor in its real estate and finance division. He is a Certified Public Accountant and a holder of the C.F.A. designation, and holds an MBA in Real Estate and Finance from the Wharton School of the University of Pennsylvania and a BS with Distinction in Commerce from the University of Virginia.

Bharath T. Srikrishnan

Managing Director, Financial Services Private Equity

Mr. Srikrishnan joined Five Mile in March 2011. Prior to Five Mile, Mr. Srikrishnan served as a Principal of Lee Equity Partners, a $1.1 billion private equity fund, where he focused on making financial services private equity investments. With Lee Equity, Mr. Srikrishnan was integral in the origination, formation and development of two financial services platform companies: MidCap Financial (MidCap), a healthcare-focused commercial finance company with over $500 million of equity capital, and Carlile Bancshares, a Texas-based community bank with over $300 million of equity capital. Mr. Srikrishnan served on the Board of Directors of MidCap from inception until January 2011. Prior to Lee Equity, Mr. Srikrishnan was a Co-Founder and Managing Director of NewStar Financial, Inc. (NewStar), a middle market commercial finance company with over $500 million of equity capital. With NewStar, Mr. Srikrishnan executed a wide variety of strategic, operating and financial responsibilities culminating with the Company's successful IPO. Mr. Srikrishnan served on the Management and Asset-Liability Committees of NewStar from inception until the IPO. Prior to joining NewStar, Mr. Srikrishnan was an investment professional with Capital Z Financial Services Partners and an investment banker in the Financial Institutions Group of Salomon Smith Barney. Mr. Srikrishnan graduated from Boston College with a B.S. degree in Finance, Operations and Strategic Management, with cum laude honors.

Raymond Yen

Managing Director

Mr. Yen has been with Five Mile since inception in 2003. Prior to joining Five Mile, Mr. Yen served as an Associate in real estate structured finance for ING Capital LLC, where he assisted in the underwriting, structuring and asset management of commercial real estate debt transactions. Prior to this experience, Mr. Yen worked as an Associate in acquisitions at ING Realty Partners LP, where he was responsible for the underwriting, structuring and closing of opportunistic real estate equity investments. Mr. Yen also worked as a Senior Consultant in Real Estate Capital Markets at Deloitte & Touche LLP and began his career in 1995 as a Manager in Global Real Estate at Citicorp North America. Mr. Yen holds an MS in Real Estate Development from Columbia University and a BA in Architecture from the University of California at Berkeley.

Peter Chong

Executive Director

Mr. Chong has been with Five Mile since September 2012. Prior to Five Mile, he served as a Vice President in the Structured Products Group at Morgan Stanley in Tokyo, where he was responsible for originating and trading high yield commercial real estate debt. Previously, Mr. Chong served as an Associate Director in the Global Commercial Real Estate Group at Barclays Capital, where he was responsible for securitization, and as an Assistant Vice President at Citigroup Property Investors, responsible for the origination of commercial mortgages, B-notes and mezzanine loans as well as the acquisition of investment grade and below investment grade CMBS. Mr. Chong also worked at Fitch Ratings rating CMBS transactions. Mr. Chong holds a BS in Hotel Administration from Cornell University.

Rakshiet Jain, CFA

Managing Director

Mr. Jain joined Five Mile in November 2006. Prior to Five Mile, he worked as a trading analyst at GMAC-RFC and was responsible for analyzing, pricing and hedging of Alt-A and Jumbo Prime Hybrid ARM loans. Prior to GMAC-RFC, Mr. Jain worked in commercial real estate research as well as the high yield commercial real estate debt group at Citigroup Property Investors. Mr. Jain holds an MBA from the Katz Graduate School of Business at the University of Pittsburgh, where he was a Dean’s Scholar in all four semesters and a Beta Gamma Sigma scholar. Mr. Jain completed his Bachelor’s in Technology (Mechanical Engineering) from IIT – BHU, India. At Five Mile, Mr. Jain is focused on the acquisition and asset management of equity investments for the Funds. He is also responsible for trading CMBS, CRE-CDO’s and other securities.

Katy Mao

Executive Director

Ms. Mao joined Five Mile in 2011 and is responsible for the sourcing, underwriting/execution, and asset management of fund investments. Prior to joining Five Mile, Ms. Mao served as an Investment Associate at WestRiver Capital where she facilitated the origination, structuring, and due diligence of mezzanine loan and subordinate debt investments. Before WestRiver Capital, she was an Originations Associate in the Real Estate Finance Group at Credit Suisse and in the Real Estate Investment Banking Group at Eurohypo AG. Ms. Mao began her career as an Analyst at Morgan Stanley. Ms. Mao received a BS in Operations Research and Industrial Engineering from the College of Engineering at Cornell University.

Frank Tiriolo


Mr. Tiriolo joined Five Mile in 2006 and is responsible for underwriting, deal structuring and asset management of the company’s CRE debt and equity investments. Prior to his current role, he served as asset manager where his responsibilities included monitoring a portfolio of REO assets, performing loan workouts and collateral management of Five Mile’s CRE CDO. Prior to joining Five Mile, Mr. Tiriolo worked for four years on the U.S. Treasury and Government Agency trading desk at UBS Investment Bank. Mr. Tiriolo received his BBA in Finance from Loyola University New Orleans and his MBA from Fordham University.

Brian M. Tortorella

Managing Director, Portfolio Manager

Mr. Tortorella joined Five Mile in June of 2008. Prior to Five Mile, Mr. Tortorella served for four years as Director of Mortgage Trading at UBS, where he traded and asset managed a $1.5B portfolio of performing and distressed whole loans, bonds and residuals. For the preceding five years at Goldman Sachs, Mr. Tortorella served most recently as Associate Director in the Mortgage Trading Group, responsible for the asset and servicer management of a $1B nonperforming loan portfolio, following two years in the Controllers area. Mr. Tortorella began his career in 1997 at Ernst and Young LLP where he was responsible for auditing financial services firms. He holds a B.S. in Accounting from Villanova University.

Michael Tessitore

Executive Director

Mr. Tessitore joined Five Mile in July of 2008. Prior to joining Five Mile, Mr. Tessitore served as an Associate Director in the Mortgage and Asset Backed Trading group at UBS for over three years. At UBS, he was a member of a team which traded and asset managed a $1.5B distressed whole loan, bond, and residual business. For the three years preceding, Mr. Tessitore served as an Associate at Commerzbank Capital Markets Corporation in their Government Operations and International Equities areas. He holds a BS in Finance from Villanova University.

Annie Hsieh

Managing Director

Ms. Hsieh joined Five Mile in 2012. Prior to Five Mile, she worked for two years at Barclays Capital in commodities sales covering oil and natural gas producers. Prior to Barclays, Ms. Hsieh worked at Credit Suisse in the Real Estate Private Funds Group, where she focused on a variety of a fundraises across multiple strategies and geographies. Ms. Hsieh began her career at Citigroup, working for three years as a trader in high-grade credit and structured debt products. Ms. Hsieh holds a BS in Finance from New York University, the Stern School of Business, and an MBA from Columbia Business School.

Deborah S. Chun

Managing Director, Chief Administrative Officer, Chief Compliance Officer

Ms. Chun joined Five Mile in March 2007. Prior to Five Mile, Ms. Chun served as Director, Global Operational Risk & Control at RBC Capital Markets, where she was responsible for establishing and managing a global risk assessment and performance team for the capital markets operations group. From 2001 to 2005, she was the managing owner of Holger Consulting, a consulting practice providing management and operational risk advisory to capital markets trading firms. From 1992 to 2000, Ms. Chun worked at Greenwich Capital/Greenwich NatWest in a variety of project management roles throughout operations, accounting, risk, and technology departments in both the Greenwich, CT and London offices. Ms. Chun was a Manager in the Financial Markets Division at Andersen Consulting and worked at Salomon Brothers for four years. She began her career at Arthur Andersen. Ms. Chun holds a BA in Applied Mathematics from Yale University and an MBA in Finance from NYU Stern School of Business.

Jim Vinca

Managing Director & Controller

Mr. Vinca joined Five Mile in January 2005. Prior to Five Mile, he worked at the auditing firm of Ernst & Young, LLP on a diverse client base, most recently as a Senior Associate. At Ernst & Young, Mr. Vinca was primarily responsible for planning client engagements, understanding client’s significant processes and related controls, and auditing account balances. Mr. Vinca holds a BA in Accountancy from Bentley College in Waltham, MA and holds a CPA (inactive) license.

Wanda Ocinaldi


Ms. Ocinaldi joined Five Mile in February 2003, having previously worked at Holger Partners LLC as a junior accountant. Prior to joining Holger Partners LLC, Ms. Ocinaldi worked for 10 years at Bedford Associates Inc, a subsidiary of British Airways, managing and overseeing all aspects of the Accounting Dept.

Joseph M. DiBartolo

Chief Compliance Officer

Mr. DiBartolo joined Five Mile as its outsourced Chief Compliance Officer in January 2015 and is currently a Director of Alaric Compliance Services, LLC, a specialized boutique compliance consulting firm. As an Alaric Director, Mr. DiBartolo has served as an outsourced chief compliance officer to numerous SEC registered investment advisers and has executed a number of compliance consulting initiatives including SEC registration, compliance program design and risk assessment engagements. Prior to joining Alaric in 2009, Mr. DiBartolo held senior compliance roles for Bear, Stearns & Co. Inc. and its asset management affiliates and served as the Rule 206(4)-7 Chief Compliance Officer to four of Bear Stearns’ affiliated investment adviser firms and private funds from 2001 to 2009. Mr. DiBartolo was also the former Head of Compliance for HSBC Asset Management Americas, Inc. and a Compliance Manager for PIMCO Advisers and its affiliates. Mr. DiBartolo began his career as a Compliance Analyst for the combined companies of Smith Barney Inc., Shearson Lehman Brothers Inc. and E.F. Hutton Inc. Mr. DiBartolo holds a BA in Accounting from Syracuse University.

George Kaouris

Managing Director

Mr. Kaouris has been with Five Mile since inception in 2003. Prior to Five Mile, he worked at Geller & Co. providing outsourcing services to alternative investment managers, where he was responsible for operational, financial and compliance oversight. He worked for three years at Greenwich Capital Markets as Senior Contract Administrator in the New Asset Backed Products area. Prior to Greenwich Capital, Mr. Kaouris worked for four years at New York Life Insurance Company as Structured Finance Director of Asset Management. Mr. Kaouris holds a BBA from Baruch College, The City University of New York.

Brian R. Lara

Managing Director, CTO

Mr. Lara joined Five Mile in early 2004. Prior to Five Mile, Mr. Lara was with AIG Trading Group from 2002 to 2004 where he was responsible for quantitative development of front office risk analysis and pricing systems. Prior to AIG, Mr. Lara was a Vice President with Merrill Lynch where he developed software for the Global Risk Management Systems Group from 1995 to 2002. Mr. Lara began his professional career in 1994 at Financial Sciences, where he was responsible for their structured products booking application. Mr. Lara holds a BS in Electrical Engineering from the School of Engineering and Applied Sciences at Columbia University in the City of New York.