By Daniel Lanyon on Monday 17 October 2016
The New York based alternative asset manager specialising in equipment leasing has secured inflows for its fifth Asset Income fund as well as making a number of new hires to its US-distribution team.
SQN Investment Advisors has broken escrow for its SQN Asset Income Fund V, has made a number of high-level additions to its distribution team, SQN Securities, according to the firm.
The SQN Asset Income Fund is a publicly registered non-traded equipment finance fund, reached the minimum offering of $1.2m.
The maximum offering of $250m, consisting of 25 million units at $10 per unit, was declared effective on August 11, 2016. SQN AIF Fund V expects to invest in assets and equipment that are considered business essential or core to a business or operation in industries spanning manufacturing, technology, agricultural, energy, environmental, medical and transportation.
SQN Securities also added several new members to its distribution team n an effort to bolster its Business Development. SQN hired Betsy Ward, an industry veteran and former director of business development at GWG Holdings to the new role of vice president of business development. She is charged with expand the SQN platform by leveraging her extensive broker-dealer relationships.
Aaron Stack is also joining the business development team, being promoted from assistant vice president of SQN Securities. Stack, who has been with SQN Securities since July 2013 and previously working for the in the firm’s in sales and marketing.
"We are delighted to expand the Business Development team at SQN with the hiring of Betsy, an established industry veteran, and promotion of Aaron who most recently covered the Southeast territory as a member of our sales team," said Lee Iredell, Senior Vice President at SQN. "We could not be more excited about the growth of this division as we continue to expand SQN's selling group and product lineup."
SQN Securities has also hired Ron Rodriguez, Ace Kuklin and Chris Libutti as regional vice presidents to further expand its sales team. Rodriguez was formerly at Stadion Money Management and has more than 25 years of experience and will be covering the Southwest territory. Kuklin formerly worked at ATEL Capital Group and has experience in both equipment finance and interval funds. Libutti brings more than 15 years of experience in the financial services industry, most recently serving as regional sales director for Stadion Money Management.
"The addition of these new hires represents a significant step forward for SQN as a premier distributor of alternative investment products," said Carmine Cozelino, Senior Vice President at SQN.
"This group of seasoned professionals brings a diverse array of experience to the team, leaving us well positioned for expansion of our sales efforts, and growth of our company as well as its offerings."