Richard D'addario

Work History

Work History
Apr 2004 - Apr 2009

Senior Portfolio Manager

Avenue Capital Management

Formed a CLO business in April, 2004 to invest in senior secured corporate loans.Grew the business in five years to six CLOs and one total return swap with over $3 billion under management and over $15mm income per year.Managed a team of nine research analysts and five operations analysts.Responsible for all portfolio management, credit decisions, trading and marketing of the CLOs.Developed a large base of debt and equity investors worldwide.Excellent knowledge of the loan market and CLO operative documents.

Aug 2000 - Jan 2004

Chief Investment Officer - Franklin Floating Rate Funds Group

Franklin Templeton Investments

Managed a $3.5 billion portfolio of senior secured bank loans in four mutual funds, including $1.8 billion in four CLOs. Managed a team of eight research analysts, five operations analysts and one trader.Engineered a complete turnaround of the business, advancing the Floating Rate Trust from 36th place to 2nd place in the October 2003 Lipper rankings during a two year period.Successfully ramped-up two CLOs totaling $880mm which earned Franklin over $6mm in warehouse interest income and trading profits. Increased assets under management of Franklin’s offshore and open-end domestic bank loan funds by over $200mm in a six month period through frequent presentations to brokers and investors.

From August, 2000 to March, 2002 employed as a Senior Portfolio Manager for the Franklin Floating Rate Funds Group with responsibility for analyzing companies in the food, aerospace/defense, lodging/gaming and general manufacturing industries.

Apr 1996 - Aug 2000

Managing Director

Franklin Templeton Investments

From January 1999 to August 2000 worked for Templeton’s president negotiating investment advisory contracts in Russia and valuing joint ventures in South Africa and Korea.From April 1996 to January 1999 employed as a Managing Director and Senior Research Analyst for a hedge fund managed by Templeton Investments.Raised $20mm equity for the hedge fund by creating and executing a cold calling plan in Switzerland

1994 - 1996

Director of Banking & Finance

Soros Fund Management

Responsible for all banking activities for six hedge funds managed by George Soros, including the flagship Quantum Fund.

1981 - 1994

Vice President

From 1987 to 1994 employed as a Manhattan based lender to hedge funds and mutual funds. Structured the industry’s first credit-enhanced, commercial paper based liquidity facility for a mutual fund investing in bank loans.From 1984 to 1987 employed as a San Francisco based corporate lending officer to middle market companies across a wide range of industries. From 1981-1984 responsible for all Japanese corporate business in San Francisco.

1968 - 1989

Major

United States Army Security Agency

From 1979 -1989, reserve duty as a Major with assignments in counter-intelligence and psychological operations.

From 1968 -1972, active duty as a Spanish linguist involved in signals intelligence. Duty in the Panama Canal Zone from 1969-1971. Graduate of the Spanish language program at Defense Language Institute, Monterey, California.Paratrooper with the 82nd Airborne Division.Top-secret security clearance.

1980 - 1981

Loan Officer

The Export-Import Bank of the United States

Analyzed overseas investments to determine eligibility for political and commercial risk insurance.Based in Washington, D.C.

1978 - 1980

Examiner

The United States Securities & Exchange Commission

Analyzed new offerings by regulated investment companies for 1940 Act compliance.Based in Washington, D.C.

1977 - 1978

Financial Analyst

Digital Equipment Corporation

Performed cost analysis for dot matrix printers in the design stage.

Education

Education

B.A.

University of Massachusetts

Graduated cum laude.Oarsman on the university crew team.

Sep 1975 - Jun 1977

M.B.A.

Univeristy of Massachusetts

Concentration in corporate finance.Minor in accounting.

Certifications

Certifications
1981 - 1981

Citibank Credit Training Program

Citibank, N.A.

Top Secret

United States Department of Defense