Portfolio Allocation — $285.4M AUM
Active Deals — Priority Queue
7 Active| Borrower | Type | Amount | LTV | Rate | Status |
|---|
Lending Performance — 12 Month Trend
AI Activity & Alerts
7 ActiveInvestor Sentiment Monitor
StableMountain Peak Endowment — Engaged
3 meetings this quarter · Data room 85% reviewed · Strong interest signals
Goldstein Private Wealth — Active DD
Proposal sent 4d ago · Awaiting IC decision · Similar fund invested last year
Continental Advisors — Needs Attention
Intro call postponed twice · AI recommends personal outreach from Tom
Rocky Mountain Foundation — Board Review
$10M allocation on Apr 18 board agenda · Favorable staff recommendation
Quick Actions
Portfolio Dashboard
Total AUM $285.4M — Real Estate $157.0M · Private Lending $98.4M · Liquid $30.0M · 18 entities · Est. 1984
Total AUM
$285.4M
+8.2% YoY
YTD Return
11.8%
+240bps vs bench
RE Value
$157.0M
12 properties
Lending
$98.4M
14 positions
Liquid
$30.0M
Cash & equiv
Gross IRR
14.2%
Since inception
NAV
$312.8M
+$27.4M unrealized
Entities
18
LLCs, LPs, trusts
Allocation
Performance — Rolling 12 Mo vs Benchmark
Entity Structure — 18 Legal Entities
Chotin Group Corp.Holdings & Positions
Master position book — $328.2M across RE, Lending, Structured Credit, Liquid. Click any row for comprehensive analytics.
Total Value
$328.2M
+12.4% YoY
Real Estate
$157.0M
12 properties
Private Lending
$98.4M
14 positions
Structured Credit
$42.8M
14 bonds
Liquid / Cash
$30.0M
Cash & UST
Unrealized P&L
+$29.2M
All classes
Wtd Yield
8.4%
Blended
Positions
44
Active book
Master Position Book
Click any row for full analytics — property profiles, deal memos, bond structure, collateral detail
| Asset | Class | Type | Face / Value | Mkt Value | Weight | Yield / Return | P&L | Status |
|---|
Private Lending Pipeline
14 active positions · $98.4M deployed · 11.2% blended yield · AI underwriting · Covenant surveillance active
Deployed
$98.4M
+$12.1M vs Q4
Blended Yield
11.2%
+40bps vs Q4
Active
14
3 maturing 90d
Covenant Flags
1
Meridian 72%
Wtd Avg LTV
62%
38% equity cushion
Wtd Avg DSCR
1.42x
+0.04 vs Q4
Interest YTD
$2.75M
Q1 accrued
Default Rate
0.0%
Zero defaults
Active Loan Book
Click any row for AI deal intelligence · Full underwriting, risk analysis, covenant status
| Borrower | Type | Location | Amount | LTV | DSCR | Rate | Maturity | Status |
|---|
AI Deal Memo
Helios AI
AI Underwriting Assistant
InstantPaste any deal — AI generates full underwriting memo with LTV analysis, stress testing, risk scoring, covenant structure, and recommendation in seconds.
Real Estate Asset Intelligence
12 properties · $157.0M portfolio · Deep profiles: developer/sponsor history, tenant rolls, rental income, debt stack, comparable sales
RE Value
$157.0M
+6.8% YoY
Properties
12
CO & Mountain West
Avg Yield
6.4%
+20bps vs Q4
NOI YTD
$4.8M
+6.2% vs prior
Occupancy
94.2%
Wtd average
Rent/SF Avg
$18.40
+4.2% YoY
WALT
4.8 yrs
Wtd avg lease term
Debt Coverage
1.85x
Portfolio DSCR
Property Portfolio — Click for Deep Intelligence
Developer profile, sponsor history, tenant roll, rental income, debt stack, comparable sales
| Property | Type | Location | Value | Yield | Occ | NOI | Cap Rate | Status |
|---|
NOI Performance — Trailing 12 Months
Portfolio Rental Income Summary
$10.6M AnnualCapital Raising — Fund I
Private commercial lending strategy · $100M target · Comprehensive LP lifecycle management · Never lose an investor
$47.0M Committed
of $100.0M Fund I target · 47% to close · $53M pipeline in active pursuit · AI-optimized outreach
$47.0M
Committed
$53.0M
Remaining
10
Active Prospects
32 days
Avg Close Time
$15.0M
Largest Commit
87%
Retention Rate
Conversion Rate
38%
Prospect to commit
Avg Commitment
$9.4M
Per LP
Next Close
Apr 22
$8M Southwest Cap
DDQ Completion
78%
Across all prospects
LP Satisfaction
9.2/10
Last survey
Referral Rate
40%
LP-sourced intros
LP Pipeline — Full CRM
AI-scored prospects · Automated follow-ups · Sentiment tracking · Retention alerts
| Investor | Type | Target | Stage | Score | Contact | Next Step | Sentiment |
|---|
AI-Generated Q1 2026 LP Update
Draft
Subject: The Chotin Group — Q1 2026 Investor Update
Dear Valued Investor,
We are pleased to share our Q1 2026 performance update.
Private Lending: Net yield of 11.2% on $98.4M deployed across 14 positions. 3 new transactions ($15.2M), 2 payoffs received in full. Wtd avg LTV 62%. Zero defaults. DSCR 1.42x.
Real Estate: $4.8M NOI YTD. 94.2% occupancy. Centennial Industrial and Panorama Commerce outperforming. NOI growth +5.8% YoY.
Fund I: $47M of $100M committed. Anticipate final close Q3 2026.
Market Outlook: Denver industrial vacancy at record-low 3.8%. Bridge lending demand surging +25% as banks tighten. Our pipeline of proprietary deal flow remains robust with $22M in active diligence.
Investor Value-Adds This Quarter:
- Facilitated introduction between Mountain Peak Endowment and our Denver industrial broker network
- Provided market intelligence report to Goldstein Private Wealth on Colorado RE outlook
- Shared tax optimization strategies with Southwest Capital Partners
Warm regards,
Thomas F. Marano, COO · Ross S. Chotin, CIO
The Chotin Group · Centennial, Colorado · Est. 1984
Dear Valued Investor,
We are pleased to share our Q1 2026 performance update.
Private Lending: Net yield of 11.2% on $98.4M deployed across 14 positions. 3 new transactions ($15.2M), 2 payoffs received in full. Wtd avg LTV 62%. Zero defaults. DSCR 1.42x.
Real Estate: $4.8M NOI YTD. 94.2% occupancy. Centennial Industrial and Panorama Commerce outperforming. NOI growth +5.8% YoY.
Fund I: $47M of $100M committed. Anticipate final close Q3 2026.
Market Outlook: Denver industrial vacancy at record-low 3.8%. Bridge lending demand surging +25% as banks tighten. Our pipeline of proprietary deal flow remains robust with $22M in active diligence.
Investor Value-Adds This Quarter:
- Facilitated introduction between Mountain Peak Endowment and our Denver industrial broker network
- Provided market intelligence report to Goldstein Private Wealth on Colorado RE outlook
- Shared tax optimization strategies with Southwest Capital Partners
Warm regards,
Thomas F. Marano, COO · Ross S. Chotin, CIO
The Chotin Group · Centennial, Colorado · Est. 1984
Investor Retention Strategy
Proactive Communication Schedule
Quarterly updates, monthly market briefs, ad-hoc deal alerts — no LP is ever surprised
Value-Add Service Delivery
AI identifies what each LP needs beyond returns — intros, market intel, tax strategy, deal co-invest
Early Warning System
Sentiment analysis on all LP communications — flag disengagement before it becomes a redemption
Lock-Up Period Management
Track vesting schedules, plan re-up conversations 90 days before any LP can pull capital
Capital Raise AI Tools
AI Capital Formation Intelligence
Identify, qualify, and connect with the right LPs — before competitors do. Helios AI continuously scans 4,200+ allocator profiles, Form ADV filings, 13F disclosures, board minutes, consultant databases, conference rosters, LinkedIn activity, and press — surfacing the prospects most likely to commit to Fund I and mapping the warmest path to each.
Universe Scanned
4,247
Allocators tracked
Mandate Match
847
Criteria-aligned
High-Probability
62
>65% fit score
Active Signals
23
Allocating now
Warm Paths Found
41
of 62 prospects
Outreach Drafted
18
Ready to send
AI-Discovered Prospects — Not Yet in Pipeline
Ranked by fit probability · Click any row for full dossier, portfolio complementarity & warm-intro paths
| Allocator | Type | AUM | Mandate Fit | Portfolio Gap | Live Signal | Fit Score | Warm Path | Action |
|---|---|---|---|---|---|---|---|---|
| Cascade Family Office Seattle · SFO | SFO | $1.8B | Private credit 7-10% target · $10-25M tickets | 0% private credit vs 15% mandate ceiling ($270M capacity) | New CIO hired Mar | 91% | 2-hop · Bear Stearns alum | |
| Heartland Tech Pension Omaha · Public Pension | Pension | $4.2B | Private credit RFP out · CO RE preferred | Terminated bridge CRE manager Q1 ($180M freed) | RFP · 67d left | 88% | 1-hop · Lynx board | |
| Aspen Mountain Endowment Boulder · Private College | Endowment | $890M | Alternatives 40% target · CO regional pref | Under-allocated alts 28% vs 40% target | IC mtg Apr 28 | 85% | 1-hop · Ross Chotin board tie | |
| Kenilworth MFO Chicago · Multi-Family | MFO | $3.1B | 18 families · private credit 12% avg | MBS/ABS manager expertise specifically requested | Form ADV amended | 82% | 2-hop · Cerberus alum | |
| Coral Gables Family Partners Miami · SFO | SFO | $620M | Principal has mortgage-trading background | Zero structured credit — holds 12% CRE bonds | Context Summits May 6 | 76% | Direct · Tom met principal 2019 | |
| Northbridge Capital Advisors NYC · RIA $2.8B AUM | RIA | $2.8B | 45 HNW clients · $50K-$500K tickets · needs alts | Zero private credit on platform — client demand | LinkedIn Apr 19: "searching alt mgrs" | 71% | 3-hop · via Julie→NT | |
| Summit Ridge Foundation Denver · Private Fdn | Foundation | $340M | 5% MRI mandate · Colorado impact focus | Industrial workforce-housing adjacency fits MRI | Impact Capital Forum speaker | 68% | 2-hop · CO RE broker |
Prospect Dossier — Cascade Family Office · 91% Fit
AI-synthesized from Form ADV · 13F · press · LinkedIn · conference rosters · proprietary relationship graph
Investment Criteria (inferred & confirmed)
· Target net return: 7-10%
· Check size: $10-$25M per manager
· Lock-up tolerance: 3-5yr acceptable
· Geography: US + selective Canada
· Manager size sweet spot: $100M-$1B AUM
· Due-diligence cycle: 90-120 days
· Mandate capacity: 15% PC · 25% RE · 10% structured
· Check size: $10-$25M per manager
· Lock-up tolerance: 3-5yr acceptable
· Geography: US + selective Canada
· Manager size sweet spot: $100M-$1B AUM
· Due-diligence cycle: 90-120 days
· Mandate capacity: 15% PC · 25% RE · 10% structured
Current Holdings (Form ADV + 13F + press)
· Public equities: 38%
· Fixed income (Treasuries + IG): 22%
· Private equity: 18% (KKR, Vista, Thoma Bravo)
· Real estate (direct): 14% (PNW multifamily)
· Hedge funds: 6%
· Private credit: 0% ← GAP vs 15% mandate
· Cash: 2%
· Fixed income (Treasuries + IG): 22%
· Private equity: 18% (KKR, Vista, Thoma Bravo)
· Real estate (direct): 14% (PNW multifamily)
· Hedge funds: 6%
· Private credit: 0% ← GAP vs 15% mandate
· Cash: 2%
Live Signals (last 90 days)
New CIO hired — Sarah Liu, ex-Alaska Permanent Fund (Mar 12)
Known for building private-credit books. Published 2022 whitepaper: non-bank lending is "structural opportunity of the decade." Textbook buying signal.
Form ADV amended Apr 3 — added "private credit" + "real estate debt" to strategy disclosure
Formal regulatory signal the mandate is opening. Typically precedes first commitment by 60-120 days.
Sarah Liu speaking · SuperReturn Private Credit · Miami May 14
Panel: "Non-Bank Lending in 2026." Tom should attend — calendared in-person intro opportunity.
Principal family sold $120M operating business Q4 2025
Liquidity event — fresh capital seeking deployment. Timing aligns with Fund I close window.
Why Chotin Fits Cascade — Portfolio Complementarity Rationale
(1) Fills the largest mandate gap. Cascade is 0% private credit against a 15% ceiling — $270M of unfilled capacity. Chotin Fund I anchors this allocation cleanly.
(2) Complements existing RE, doesn't overlap. Their RE is PNW multifamily; Chotin's is Colorado industrial/commercial. Same asset class label, zero geographic or sector correlation.
(3) Matches the new CIO's publicly-stated thesis. Sarah Liu's whitepaper on non-bank lending describes Chotin's exact strategy — bridge/commercial where banks have pulled back.
(4) Check size aligns. Cascade's $10-25M sweet spot matches Chotin's $15M avg LP commitment.
(5) Track-record validation. Cascade prefers 10+yr operators. Chotin est. 1984 · Ross's lending track since 2016 · Tom's 40yr structured credit pedigree.
(2) Complements existing RE, doesn't overlap. Their RE is PNW multifamily; Chotin's is Colorado industrial/commercial. Same asset class label, zero geographic or sector correlation.
(3) Matches the new CIO's publicly-stated thesis. Sarah Liu's whitepaper on non-bank lending describes Chotin's exact strategy — bridge/commercial where banks have pulled back.
(4) Check size aligns. Cascade's $10-25M sweet spot matches Chotin's $15M avg LP commitment.
(5) Track-record validation. Cascade prefers 10+yr operators. Chotin est. 1984 · Ross's lending track since 2016 · Tom's 40yr structured credit pedigree.
Warm Intro Paths · Ranked by Likelihood
PATH #1 (recommended · 87%)
Tom Marano ─→ Mike Rosenberg (Bear Stearns MBS 1998-2006) ─→ Sarah Liu (Cascade CIO)
Basis: Rosenberg & Liu overlapped at Alaska Permanent 2019-2023 · Rosenberg owes Tom a favor from Lynx board referral · they spoke Mar 2026 · ask via personal mobile, not LinkedIn.
PATH #2 (72%)
Tom ─→ Stuart Rothstein (Apollo ABC chair) ─→ David Chen (Cascade IC · ex-Apollo)
Basis: Apollo relationship · Rothstein needs brief context · politically sensitive given Apollo ABC vs Chotin Fund I — must frame as non-competing.
PATH #3 (64%)
Ross Chotin ─→ Jamie Walsh (Aspen Mtn Endowment board) ─→ Sarah Liu
Basis: Walsh & Liu co-authored 2021 private-credit panel · mid-strength tie.
PATH #4 (41% — cold)
Direct outreach via Sarah Liu's published email, referencing her whitepaper.
Tom Marano ─→ Mike Rosenberg (Bear Stearns MBS 1998-2006) ─→ Sarah Liu (Cascade CIO)
Basis: Rosenberg & Liu overlapped at Alaska Permanent 2019-2023 · Rosenberg owes Tom a favor from Lynx board referral · they spoke Mar 2026 · ask via personal mobile, not LinkedIn.
PATH #2 (72%)
Tom ─→ Stuart Rothstein (Apollo ABC chair) ─→ David Chen (Cascade IC · ex-Apollo)
Basis: Apollo relationship · Rothstein needs brief context · politically sensitive given Apollo ABC vs Chotin Fund I — must frame as non-competing.
PATH #3 (64%)
Ross Chotin ─→ Jamie Walsh (Aspen Mtn Endowment board) ─→ Sarah Liu
Basis: Walsh & Liu co-authored 2021 private-credit panel · mid-strength tie.
PATH #4 (41% — cold)
Direct outreach via Sarah Liu's published email, referencing her whitepaper.
AI-Drafted Outreach · Path #1
To: Mike Rosenberg · Subject: Quick ask — Cascade connection
Mike —
Hope all's well since Lynx dinner in March. Quick ask: saw Sarah Liu landed at Cascade and is looking at private credit seriously (Form ADV change + her SuperReturn panel). Chotin Fund I — Colorado bridge/commercial lending, $47M of $100M committed, 11.2% net yield — is a clean fit. Zero overlap with their PNW RE book, fills their 15% mandate gap.
Any chance you'd feel right about a warm email to Sarah? Happy to send a tight one-pager first so she can decide if a call is worth it.
— Tom
Mike —
Hope all's well since Lynx dinner in March. Quick ask: saw Sarah Liu landed at Cascade and is looking at private credit seriously (Form ADV change + her SuperReturn panel). Chotin Fund I — Colorado bridge/commercial lending, $47M of $100M committed, 11.2% net yield — is a clean fit. Zero overlap with their PNW RE book, fills their 15% mandate gap.
Any chance you'd feel right about a warm email to Sarah? Happy to send a tight one-pager first so she can decide if a call is worth it.
— Tom
Signal Library — What Helios Monitors Continuously
Always OnRegulatory · Form ADV amendments
Strategy disclosure changes, new product launches. Earliest legal signal of a mandate shift.
Personnel · CIO / IC / PM hires
New decision-makers reset allocations within 6-12 months. LinkedIn + press scanned on 4,200+ allocators.
RFP / RFI issuance
Scraped from public pension boards, consultant databases, NACUBO filings. Active searches surfaced before competitors see them.
Manager terminations
When an allocator fires a manager, replacement search begins. Identified via board minutes, 13F deltas, press.
Conference & panel rosters
Where decision-makers will be — SuperReturn, Context Summits, NACUBO, Endowment Forum. Pre-populates target calendar.
Principal liquidity events (family offices)
Exits, IPOs, dividend recaps generate fresh capital needing a home within 6-18 months.
Thought leadership · whitepapers · LinkedIn
NLP match investment thesis language to Chotin's strategy. High-signal when a prospect's published view aligns.
Consultant assignments (Cambridge, Cliffwater, Albourne, Mercer)
Every allocator mapped to gatekeeper. Tracks Chotin approved-list status and flags consultants to cultivate.
Relationship Graph — Tom's 40-Year Network Mapped
1,847 nodes
Helios indexes every relationship Tom has built across Bear Stearns · Cerberus · GMAC/Ally/ResCap · Chotin · Apollo ABC · Lynx — plus the networks of Ross, Julie, Ashley, Barbara — and computes shortest paths to any prospect in the universe.
1st Degree
312
Direct ties
2nd Degree
1,421
Via 1 intro
Bear Stearns Alumni
189
Still active
Apollo / PE Alumni
94
Across funds
Bear Stearns MBS alumni → 67% now sit at allocators
Highest-value node class. AI prioritizes paths through them — deep trust and shared industry language.
Lynx IMB board → connects to 9 family-office CIOs
Board-level ties open doors at the decision-maker, not the gatekeeper.
Apollo ABC board → governance-sensitive for Chotin outreach
AI flags paths requiring disclosure that Chotin Fund I is complementary (not competing) to ABC — protects fiduciary posture.
Chotin LPs → 40% of commitments have been referral-sourced
Existing LPs are the highest-converting referral channel. AI auto-surfaces asks based on LP sentiment windows.
Additional AI Capabilities — What Else Helios Can Build for Capital Formation
Roadmap ReadyLP Lookalike Modeling
Feed the model your 5 best LPs — it returns 50 allocators with statistically similar profiles: same mandate language, holdings mix, decision-maker background, DDQ behavior.
Pitch Timing Optimizer
Model each allocator's allocation cycle (budget-setting, IC cadence, year-end rebalance). Surface the optimal 30-day outreach window per prospect.
Competitive Positioning
AI identifies which 3 managers each prospect is comparing Chotin against and drafts the "why Chotin wins" framing specific to that bake-off.
Personalized Pitch Deck Generation
One-click custom deck per prospect — references their specific mandate, recent Form ADV change, CIO's published views, and the exact portfolio gap Chotin fills.
DDQ Auto-Responder
Match LP style from prior DDQs; draft responses in their format, vocabulary, depth. Cuts a 20-hour DDQ cycle to 90 minutes of partner review.
Consultant & Gatekeeper Map
Every allocator mapped to their consultant. Track Chotin's approved-list status per firm and flag consultants worth cultivating.
Co-Invest Sweetener Modeling
For on-the-fence prospects, AI picks which current deal (Aurora Logistics, Broomfield bridge, etc.) is the best co-invest sweetener based on their stated preferences.
Allocator Sentiment Monitoring
NLP across every public statement, earnings call, newsletter, LinkedIn post — detect when an allocator drifts toward or away from Chotin's strategy language.
Re-Up Probability Scoring
For Fund II planning: score each Fund I LP's re-up likelihood based on performance delivered, comms cadence, sentiment trend, and current liquidity position.
Dry Powder Tracker
Cross-source filings, press, interviews to estimate uncommitted capital at each prospect today. Prioritize live wallets, de-prioritize fully deployed ones.
Reference Prep Engine
When an LP calls references, Helios pre-briefs each reference with talking points specific to that LP's concerns (parsed from their DDQ and meeting transcripts).
Event ROI & Targeting
Ranks every upcoming industry event by fundraising ROI — who attends, fit score of attendees, cost, probability of in-person meetings secured.
Secondary / GP-Led Buyer Universe
Live map of secondary buyers for LP-interest sales and GP-led continuation vehicles — useful when an existing LP needs liquidity without redemption.
Reg D / 506(c) Audit Trail
Every outreach, pitch, subscription doc, accreditation check logged for Reg D compliance. Auto-generates audit packages for SEC exams.
Family-Office Next-Gen Targeting
Identifies generational transitions at family offices — when a next-gen principal takes the CIO seat, preferences often reset. AI flags these windows 6-12 months ahead.
The Chotin Group — Investor Portal
Fund I · Private Commercial Lending & Real Estate · Centennial, Colorado · Est. 1984
Total Investment
$184.0M
Current Value
$220.6M
Total Return
+$36.6M
Distributions YTD
$15.2M
Weighted IRR
13.4%
Equity Multiple
1.37x
Portfolio NAV — Quarterly
Distribution History
| Quarter | Amount | Type | Yield |
|---|
Investment Summary
| Property | Type | Invested | Current | Gain | IRR | Multiple | Status |
|---|
Investor Surveillance & Intelligence
Monitor LP health, identify opportunities to add value, predict churn risk, strengthen relationships before vesting
Active LPs
5
Committed capital
Prospect LPs
10
In pipeline
Churn Risk
Low
All LPs stable
Avg Satisfaction
9.2/10
Last survey Q4
Next Vesting
Jun 2027
$12M Goldstein
Value-Adds YTD
14
Favors delivered
Referrals Received
4
From existing LPs
Response Time
<4hr
Avg to LP inquiry
AI-Identified Value-Add Opportunities
Helios AIVesting & Lock-Up Calendar
Secondary Market — Structured Credit Trading
CMBS · RMBS · CLO · Agency MBS · Deep Bond Analytics · BWIC/OWIC · Deal Structure · Holder Intelligence · Chotin 30yr Trading Heritage
Total Positions
14
$42.8M face
CMBS Book
$18.4M
6 positions
RMBS Book
$10.2M
3 positions
CLO Book
$8.0M
3 positions
Agency MBS
$6.2M
2 positions
Unrealized P&L
+$1.84M
MTD +$420K
Active BWICs
3
$27.5M face
YTD Trading P&L
+$3.2M
+280bps alpha
Structured Credit Positions
Click any bond for deep analytics — deal structure, holders, bid history, price history, Chotin trading record
| Security | Class | Rating | Face | Price | Spread | YTW | WAL | DV01 | Unreal P&L | Status |
|---|
Active BWICs — Bids Wanted in Competition
3 ActiveOWICs — Offers Wanted in Competition
2 OutBWIC Bid History — Chotin Group
Last 90 Days| Date | List | Security | Face | Our Bid | Color | Result | Dealer |
|---|
Order Book — JPMCC 2024-C16 A4
LiveTrade Blotter — Chotin Trading History
Full audit trail of all secondary market transactions
| Security | Class | Side | Face | Price | Spread | YTW | Date | P&L | Status |
|---|
CMBS / RMBS / CLO Spread History — 12 Months
Fixed Income Data
Rate intelligence · Yield curves · Cap rates · Fed policy · Credit spreads · Always know where rates are heading
SOFR
4.33%
+0bp
10Y UST
4.18%
-3bp
30Y UST
4.42%
-2bp
2Y UST
3.98%
-4bp
MF Cap
5.2%
-10bp
Office Cap
6.8%
+15bp
Indust Cap
5.6%
-5bp
2Y/10Y Spread
20bp
Steepening
Rate Trend — 12 Months
Cap Rate Grid by Property Type
Fed Meeting & Rate Decision Tracker
Apollo Asset Backed Credit Company
Independent Director · Audit Committee
Board Intelligence Dashboard — Tom Marano's dual-role command center. Apollo ABF: $312B+ deployed across 50+ asset classes. ABC: semi-liquid ABF vehicle.
Apollo ABF AUM
$312B+
Across 50+ asset classes
Annual Origination
$75B
Apollo ABF platform
ABC Target Yield
5.8-7.8%
Series II annualized
Portfolio Grade
~80% IG
Investment grade equiv
Leverage
0x
Zero portfolio leverage
ABF Market Size
$20T
Global opportunity
Next Board Mtg
Apr 28
Q1 earnings review
Audit Items
3
Pending committee review
ABC Portfolio — Five Pillars
Asset-backed instruments across diversified sectors
Consumer Finance
28%Residential Mortgage
24%Commercial RE
22%Hard Assets
15%Financial Assets
11%Key Structural Features
Semi-liquid · Quarterly repurchase (5% NAV cap) · Zero leverage · ~80% investment grade · Evergreen structure · Monthly offering to accredited investors
Board & Audit Committee Intelligence
Next: Apr 28Q1 2026 Earnings Review
NAV per share trending. Distribution coverage ratio. Portfolio credit quality metrics. Repurchase queue analysis.
Apr 28
Audit Committee — Financial Statements
Review Q1 unaudited financials. Valuation methodology for illiquid assets. Related-party transaction review.
Apr 28
SEC Filing Tracker
10-Q due May 15 · Form N-2 amendment pending · Reg D filings current
May 15
Board Resolution — Distribution Declaration
Q2 distribution rate approval. Series I: 4.5-5.6% · Series II: 5.8-7.8% annualized
Jun 1
Board Composition
Stuart Rothstein
Chair · Partner, COO Real Assets
Michael Paniwozik
President
Bret Leas
Director · Global Head ABF
Nancy De Liban
Director · Partner ABF
Thomas F. Marano
Independent Director · Audit
John Chrystal
Independent Director
James Simmons
Independent Director
Robert Kasdin
Independent Director
Chotin Group ↔ Apollo ABC — Strategic Synergy Engine
AI-identified opportunities where Tom's dual roles create unique value
CRE Origination Pipeline
Chotin's Colorado bridge lending ($98.4M book) fits Apollo's CRE pillar. Participation interests or whole loan sales could feed ABC's origination machine. Tom bridges both origination and allocation.
Residential Mortgage Expertise
Tom ran Bear Stearns' global MBS desk for 25 years and was CEO of GMAC mortgage operations. His deep RMBS expertise directly strengthens ABC's residential mortgage pillar oversight.
Structured Finance DNA
Chotin Group issued $4B+ in MBS (FundAmerica, 1988) and $6.2B in CDOs (2004-2007). This institutional securitization history is directly relevant to ABC's asset-backed structuring.
Investor Network Leverage
Chotin's LP network (family offices, endowments, RIAs) are exactly the accredited investor profile ABC targets. Cross-pollination opportunity: Chotin LPs as ABC investors, ABC relationships as Chotin LPs.
AI-Identified Cross-Platform Opportunities
Whole Loan Sale — Cherry Creek Bridge Note
$6.4M senior secured, 11.5% coupon, 61% LTV. Fits ABC's CRE pillar criteria. Tom can introduce to Bret Leas (Global Head ABF) for potential purchase.
LP Introduction — Mountain Peak Endowment to ABC
Mountain Peak ($15M Chotin prospect) also allocates to private credit. ABC's 5.8-7.8% yield profile could interest their fixed income allocation. Tom makes the warm intro.
Market Intelligence Sharing
Apollo's $75B annual ABF origination generates proprietary market data. Tom's board access gives Chotin early signal on CRE credit trends, cap rate movements, and origination pricing.
Co-Investment Opportunity — Hard Assets
Apollo's hard asset pillar (trains, planes, infrastructure) is a diversifier for Chotin LPs seeking non-RE alternatives. ABC can be offered as a complementary allocation to Fund I investors.
Tom Marano — Career Intelligence Profile
40+ years in structured finance, mortgage-backed securities, and asset management. One of the most experienced MBS/ABS professionals in the industry.
1983-2008
Bear Stearns & Co. — 25 Years
US & Global Head of Mortgage-Backed and Asset-Backed Securities. Built and ran one of Wall Street's dominant MBS trading desks. Oversaw billions in RMBS/CMBS/ABS trading and origination.
2008-2009
Cerberus Capital Management — Managing Director
Consolidated commercial and residential mortgage trading operations. Established mortgage fund during peak financial crisis.
2009-2013
GMAC / Ally Financial — C-Suite Leadership
CEO of Mortgage Operations · Chief Capital Markets Officer · CEO & Chairman of GMAC ResCap. Managed one of America's largest mortgage companies through post-crisis transformation.
2023-Now
The Chotin Group Corporation — COO
Leads operations for family office with $285.4M AUM. Private lending, real estate, structured finance. Leverages 40-year network for proprietary deal flow.
Nov 2024
Apollo Asset Backed Credit Co. — Independent Director
Board member and Audit Committee. Oversees $312B+ ABF platform across 50+ asset classes. NYSE-listed. Brings unmatched MBS/ABS expertise to governance.
2024-Now
Lynx IMB Holdings — Board Director
Independent mortgage banking company. Oversight of mortgage origination operations.
Chotin Group — Structured Finance Legacy
Founded 1984 by Steven B. Chotin. 30+ year history as a pioneer in structured finance, securitization, and asset-backed markets.
1984
Founded in Colorado
Steven B. Chotin, age 25, establishes the firm. Initial focus: economic residual interests and securitization for S&Ls, homebuilders, pension funds.
1988
FundAmerica — $4B+ in MBS Issued
Formed FundAmerica Investor Corporation I & II shelves. Issued over $4 billion in mortgage-backed securities transactions.
1989
Created the Non-Economic Residual Market
Instrumental in creating an entirely new market segment. Began acquiring substantial residual interest portfolios.
1991
National Mortgage Corp — First National Subprime Lender
Acquired NMC. Originated $1B+ annually in subprime loans through 2000. Became the first national subprime lender in the United States.
2004-07
$6.2 Billion in CDOs Issued
Issued 10 collateralized debt obligations valued at $6.2 billion. Peak of structured finance operations.
2008-16
Proprietary Bond Trading
Focused on complex MBS and whole loan pool trading. Navigated financial crisis with proprietary strategies.
2016-Now
Family Office Transition
Transitioned to family office structure. $285.4M AUM across RE ($157M), private lending ($98.4M), liquid ($30M). Chotin Foundation for philanthropy.
Board Prep — AI-Generated Materials
Market News & Signals
AI-filtered by Chotin Group holdings, sectors, exposure · Real-time signal detection · Never be caught off guard
News Feed
AI-FilteredHoldings-Based Signals
3 ActiveEntity Tracking
CI & Networking Intelligence
AI-powered relationship management · 42 contacts · Connection recommendations · Help others, they help you
Contacts
42
All categories
Active Convos
8
Last 30 days
AI Recommendations
5
New connections
Network Score
87
+4 this quarter
Intelligent CRM — Firm-Wide Relationship Management
Every touchpoint by every team member syncs in real-time. No one is ever out of sync. Every interaction builds the relationship.
Total Contacts
68
All categories
Interactions (30d)
142
Calls, emails, meetings
Team Members
5
All synced
Follow-Ups Due
7
This week
Avg Response Time
<4hr
To inbound
Relationship Score
87/100
+4 this quarter
Stale Contacts
3
>60d no contact
AI Suggestions
5
Action items
Contact Directory
Click to expand — see full interaction timeline, every team member's touchpoints
AI Relationship Intelligence
Helios AIJennifer Walsh — Needs Personal Outreach
Postponed 2 calls. Engagement declining. AI recommends Tom sends handwritten note + dinner invite when she's in Denver next week.
Sarah Chen — Ready for Site Visit
DD 85% complete. She's hinted at wanting to see Centennial Industrial in person. Ross should invite her — he has the deepest property knowledge.
Mike Richardson — Anniversary
8-year relationship anniversary. He's sourced $28M in deals. Send a thank-you gift + handwritten note from Tom and Ross.
Stuart Rothstein — Pre-Board Sync
Apollo ABC board Apr 28. Tom should schedule a 15-min pre-call with Stuart to align on audit committee items.
Steve Morrison — Extension Discussion
His extension request is pending. Barbara has payment history (perfect). Julie has financials. Tom should call with full context loaded.
Team Activity Feed — Live
All SyncedFollow-Up Calendar
7 DueDocument Intelligence Vault
AI extracts key terms, flags issues, auto-categorizes · Every document feeds the intelligence engine
Drop documents here or browse
Loan agreements · Term sheets · Appraisals · Financials · Entity docs
Recent Documents — AI Processed
Report Generation & Compliance Center
AI-generated institutional reporting · One-click generation · Scheduled delivery · Full compliance audit trail · Never miss a deadline
Reports Generated
47
Q1 2026
Hours Saved
~120
vs manual
Covenants
14
1 breach flagged
Next Due
Apr 15
Q1 Controller Pkg
Scheduled
12
Auto-delivery set
Compliance
100%
Zero missed
SEC Filings
Current
All entities
Templates
24
Custom + standard
Report Queue — Upcoming
5 DueCovenant Monitor — All Positions
1 BreachReport Generator — One Click
AI-PoweredController Package
Entity P&L, cash flow, balance sheet, intercompany reconciliation
Board Summary
Executive dashboard, KPI trends, risk highlights, action items
LP Quarterly Update
Performance, distributions, deal activity, market outlook
Loan Servicing Report
Payment status, accruals, maturity schedule, covenant status
RE NOI Analysis
Property-level NOI, occupancy trends, lease expirations, comps
Stress Test Report
Rate shock, vacancy shock, credit event scenarios across portfolio
Trading & Secondary P&L
Position-level P&L, spread changes, BWIC results, attribution
K-1 Preparation
Tax allocations, entity-level income, distribution waterfalls
Compliance & Regulatory
SEC filings, state registrations, entity annual reports, deadlines
Distribution Waterfall
LP/GP splits, catch-up, preferred return calc, carry distribution
Recently Generated
Q4 2025 LP Quarterly Update
Generated Mar 28 · Delivered to 5 LPs · 100% open rate
Delivered
March Loan Servicing Report
Generated Apr 1 · 14 positions · All current · Barbara reviewed
Reviewed
Stress Test — +200bp Scenario
Generated Apr 3 · Portfolio remains cash-flow positive · 1 additional covenant trigger
Filed
Apollo ABC Board Briefing
Generated Apr 5 · NAV analysis, audit items, distribution coverage · Ready for Tom
Draft
Helios AI — Intelligence Hub
Your co-pilot — trained on Chotin Group's full portfolio, 40-year history, every document, every deal, every relationship. Access anytime via the bot icon in the header.
Questions Answered
847
This quarter
Reports Generated
47
Q1 2026
Risk Alerts Fired
23
3 critical caught
Hours Saved
~320
vs manual process
AI Capabilities — Risk Management
CriticalReal-Time Covenant Monitoring
Monitors all 14 lending positions continuously. Auto-generates cure notices. Caught Meridian LTV breach 6 hours before manual review would have.
Portfolio Stress Testing
Runs rate shock, vacancy shock, and credit event scenarios across entire portfolio. Produces board-ready reports in seconds.
Credit Surveillance
Tracks borrower financial health, market conditions, and collateral values. Downgrades risk scores automatically when conditions deteriorate.
Concentration Risk Analysis
Monitors geographic, sector, and borrower concentration. Flags when any single exposure exceeds policy limits.
AI Capabilities — Trading
ActiveBWIC Pricing Engine
Prices bonds using 500+ recent comparable trades, dealer runs, and spread analytics. Generates bid recommendations with confidence intervals.
Relative Value Analysis
Compares bonds across deal vintage, collateral quality, and structural features. Identifies cheap vs rich securities in real-time.
Trade Idea Generation
Monitors spread movements, new issue supply, and market technicals to identify trading opportunities aligned with Chotin strategy.
AI Capabilities — Capital & Investors
ActiveLP Communication Engine
Drafts quarterly updates, investor tear sheets, DDQ responses, and personalized outreach. Maintains consistent firm voice.
Sentiment & Churn Prediction
Analyzes LP communication patterns, meeting frequency, and engagement metrics. Predicts churn risk 90 days before vesting events.
Prospect Research
Deep intelligence on potential LPs — AUM, allocation history, peer investments, key decision makers, optimal approach strategy.
AI Capabilities — Operations
ActiveDocument Intelligence
Extracts key terms from loan agreements, appraisals, and financials. Auto-populates deal records. Flags missing or expiring documents.
Report Automation
Generates controller packages, board summaries, loan servicing reports, and K-1 prep materials from live data. Saves ~120 hours/quarter.
Compliance Engine
Tracks regulatory deadlines, SEC filings, state registrations, and entity annual reports. Zero missed deadlines since deployment.
Launch AI Chat
Or press Alt+A from any page
Settings & Administration
The Chotin Group · Helios Private Wealth · Platform Configuration · User & Trial License Management
Active User Profile
Active Sessions
Chrome 122 — Windows 11
172.16.44.102 · New York, NY
Helios Mobile — iPhone 15 Pro
74.108.22.196 · Boca Raton, FL
Safari — iPad Air
74.108.22.198 · Centennial, CO
Live Event Briefs — Ranked by $ Impact to Chotin
Every headline mapped to specific positions. Click any brief for the full play.
This Week's Calendar
6 eventsMacro Scoreboard
LiveFed June cut prob
+14pt wk
10Y UST
-3bp
Denver Ind. Vac.
Record
CMBS AAA OAS
-2bp
Office Cap Rate
+15bp
Insurance Idx CO
YoY
What AI Recommends Today
HeliosScenario Playbook — What if the Fed cuts in June?
Live modelDrag the Fed path, cap-rate move, and vacancy to see the projected impact on Chotin's NAV, lending book yield, and LP distributions. The model reads your live book and runs in real time.
Fed Funds path (change from today)-25bp by June
-100bpHold+50bp
CRE Cap rate move (bps)-15bp
-50bpFlat+100bp
Weighted vacancy move (ppts)-0.5pp
-3ppFlat+5pp
Bridge loan origination rate11.00%
8%11%14%
HELIOS PLAYBOOK — BASE CASE
Risk Command Center
Real-time covenant surveillance · Multi-factor stress testing · Concentration monitoring · Liquidity ladder · Every risk visible, every scenario modeled
Portfolio VaR (95%)
$4.8M
1-day, all book
Covenant Flags
1 / 14
Meridian LTV
Stress P&L (-200bp)
+$6.1M
Asset rally
Stress P&L (+200bp)
-$8.2M
NAV impact
Wtd DSCR
1.42x
+0.04 Q/Q
Wtd LTV
62.4%
38% cushion
Liquidity (30d)
$42.1M
1.4x obligations
Risk Score
78 / 100
Investment grade
Live Stress Test — Drag to Simulate
Every slider below redraws the covenant heatmap & tracker in real time — stress-linked surveillance.
Interest rate shock+200bp
-300bpUnch+400bp
RE value haircut-10%
-40%Flat+20%
Default rate on loan book3.0%
0%5%15%
Credit spread widening+50bp
Tighten+100+300bp
LP redemption pressure5%
0%25%50%
STRESS TEST COMMENTARY
Covenant Surveillance — Unified Heatmap & Tracker
Each row · base LTV · stressed LTV · delta · DSCR · 12-month projection — all stress-linked to the sliders above. Every position, every month, one grid.
1 BreachWatch: 0Surveillance Live
Loan / Status
Base LTV
Stress LTV
Δ pts
DSCR
<58% LTV
58-62%
62-66%
66-69%
69-72%
>72% / breach
Hover any cell for month · LTV · shock attribution
Concentration Monitor
2 limits warmingColorado exposure
Limit 95%
Single borrower (Mile High)
Limit 15%
Industrial concentration
Strategic OW
Office exposure
Limit 25%
Multifamily
Balanced
LTV >70% (count)
Limit 20%
Maturing ≤6mo
Parkway only
Largest LP commitment
Limit 35%
Liquidity Ladder — 12 Month Forward
Surplus $11.4MStress scenario: Even assuming 25% LP redemption and zero new deployment, liquidity stays positive through Oct 2026. Parkway payoff ($2.9M · Jun), Morrison possible payoff ($4.2M · Sep), and $12M RMF inflow (if approved) leave cushion of $8-14M monthly.
Scenario Library — Pre-Built Stress Tests
2008-Style Credit Crisis
-25% RE haircut, +400bp spreads, 12% default rate, 30% LP redemption. Chotin survives due to zero portfolio leverage and strong collateral. Est. NAV drawdown: -22%. Peak-to-trough recovery: 18 months.
COVID-Style Liquidity Event
Sharp -200bp rate cut, CRE freezes for 6 months, 15% tenant default in retail/office only. Impact: -$4.8M NAV, but lending book rallies +$3.2M on duration. Net -$1.6M. Rapid recovery.
Stagflation (Fed stuck)
Rates hold, inflation +4%, cap rates widen 75bp, NOI growth stalls. Impact: -$6.2M unrealized NAV (RE). Bridge yield holds 11%+. Hedge: rotate to shorter duration, floating-rate positions.
Soft Landing (Base Case)
Fed cuts 75bp through 2026, cap rates compress 25bp, vacancy stable. Impact: +$12M NAV lift (RE value), bridge origination rate falls 75bp. Positive equity mark.
Regional Banking Crisis
Counterparty risk from bank exposure. Chotin: $24M at JPM, $4M at Wells, $2M brokerage. All SIFI. Stress: move $8M to UST. Impact: -30bp yield, zero counterparty risk.
Apollo ABC Correlation Break
What if Tom's Chotin & ABC roles create a correlated drawdown? Model shows ABC floating-rate book is negative-correlated with Chotin fixed-rate bridges during rate shocks. Natural hedge.
Treasury & Cash Management
Every dollar at every bank, every wire, every forecast — Julie's single pane of glass to replace Excel, email, and 4 bank portals
Total Cash
$30.0M
Available T+0
$24.5M
UST Ladder
$5.5M
Blended Yield
4.68%
Wires Pending
3 · $2.84M
Wires Today
5 · $1.12M
30d Outflow
$14.6M
30d Inflow
$18.2M
Net 30d
+$3.6M
Bank Account Aggregation — Live Balances
Synced 4 min ago12-Month Cash Forecast
AI ProjectionPeak outflow
Apr · -$4.2M
Peak inflow
Aug · +$5.8M
Min balance (wtd)
$21.4M · Jun
Cushion at min
71% of opex
Wire & Payment Approval Queue
Dual-control · Audit logged · AI-flagged anomalies · Replace email chains and DocuSign
Intercompany & Capital Calls
6 pendingFX & Counterparty Risk
All SIFIJPMorgan Chase
AA SIFI
Wells Fargo
A+ SIFI
Schwab (UST)
UST collat.
FirstBank (ops)
$85K local
AI RISK FLAG
JPM concentration at 68% exceeds internal 60% target following regional banking unease in 2023. Consider moving $2.5M to Schwab T-Bill ladder (already below target). Yield impact: -0.35%/yr on that slice = -$875/mo.
Tax & Entity Intelligence
18 legal entities · 9 states · 14 K-1 recipients · 4 tax years rolling · One view that replaces spreadsheets, tax portals, and 3am emails with counsel
Active Entities
18
LLC, LP, C-Corp, Trust
K-1 Recipients
14
LPs + GP
K-1 Status
12/18
Final · 6 draft
State Nexus
9
CO, AZ, CA, FL...
Q1 Tax Paid
$1.48M
Fed + 9 states
Next Deadline
Apr 15
Controller pkg
Annual Reports
18/18
All current
AI Savings (YTD)
$142K
Strategy ops
Entity Map — Full Legal Structure
Chotin Group Corp → 17 subsidiariesK-1 Production Pipeline — Tax Year 2025
12 final, 6 draftingMulti-State Tax Calendar
9 statesClick any month for detail. April: Federal Q1 estimates due Apr 15. Colorado composite return. K-1s to 14 LPs. Controller package due Julie.
Distribution Waterfall Model — Fund I (Interactive)
LiveFund I structure: 8% preferred return → 50/50 catch-up → 80/20 split above. Model any exit/distribution scenario below.
Gross Fund Return14.0%
4%12%25%
Fund life (yrs)5 yrs
3610
Committed capital$100M
$50M$100M$200M
AI Tax Strategy — Identified Optimizations
$280K/yr potentialCost segregation study — Centennial Industrial
Phase II addition ($8M in 2019) eligible for cost seg. Accelerated depreciation could shield $480K of 2026 taxable income. Fees $18K, net benefit ~$110K present value.
$110K
Opportunity Zone — Panorama Commerce reinvestment
When Panorama Commerce trades (projected 2027-28), $18M capital gain can defer into Qualified Opportunity Zone. CO has 126 QOZ tracts — Stapleton, Globeville, Westwood candidates.
$1.4M defer
K-1 state-sourced income optimization
3 LPs reside in no-tax states (FL, TX, NV). Reclassify state-sourced income vs pass-through to minimize their composite filings. Net LP benefit ~$85K/yr · they will notice and love it.
$85K
Chotin Foundation — DAF contribution timing
Q4 is high-income quarter for Chotin Corp. Accelerate $500K foundation contribution to Dec 2026 (vs Q1 2027) for current-year deduction. Cash-flow neutral, tax alpha ~$195K.
$195K
SBC Family Trust — GRAT rolling strategy
Replace expiring 2-yr GRATs with 3-yr rolling zeroed-out GRATs. Given current 7520 rate, every $10M funded moves ~$1.2M of appreciation out of estate tax-free over 3 yrs.
Est planning
Board & Governance Center
Two boards in 10 days. Every packet, resolution, minute, and disclosure — drafted by Helios, reviewed by counsel, delivered on time. Zero fire drills.
Meeting Agenda — Apr 22, 2026 · 9:00 AM MT
6 items · 2 hours- 9:00 AMCall to Order & Prior Minutes ApprovalSteven ChotinJan 2026 minutes circulated. Requires board approval resolution.
- 9:15 AMQ1 2026 CEO/COO ReportTom MaranoAUM $285.4M (+8.2% YoY) · YTD return 11.8% · Zero defaults · Fund I at $47M committed · Apollo ABC board update.
- 9:45 AMInvestment Committee ReportRoss ChotinSummit Ridge approval ($8.5M industrial · 58% LTV · 11.5%). Meridian cure status. Pipeline review — Stapleton Mixed-Use.
- 10:15 AMFinancial & Audit ReportJulie BackerQ1 financials, controller package, Q1 distribution recommendation ($3.95M · income classification).
- 10:45 AMRisk & ComplianceTom MaranoMeridian LTV breach — cure resolution. Covenant tracker. SEC Form D filings. New SEC private fund disclosure rules impact.
- 11:00 AMExecutive Session & AdjournmentSteven ChotinOfficer comp review. Succession update. Executive session without staff.
Board Packet — 74 pages assembled
AI drafted · Ashley reviewPDF
Board Meeting Packet — April 22, 2026
Tab 1-6 assembled · 74 pages · Cover memo drafted
MEM
CEO/COO Quarterly Report
12 pages · KPIs · Apollo ABC update · Generated from live data
IC
Investment Committee Report
Summit Ridge memo · Meridian cure · Pipeline · 18 pages
FIN
Q1 Financial Statements
P&L · BS · CF · 18 entity consolidated · 24 pages
RES
Draft Resolutions (5)
Meridian cure · Q1 distribution · Summit Ridge approval · Minutes · Officer comp
LGL
Legal Update — Robert Klein
Fund I PPM v3 status · New SEC rules · Meridian cure doc · 8 pages
RSK
Risk Dashboard & Stress Tests
VaR · concentration · covenant heat · scenario library · 6 pages
Pre-Board Resolutions Needing Tom's Sign-Off
3 pendingResolution 2026-Q2-01: Meridian LTV Covenant Cure
Apr 22 BoardAuthorize 30-day covenant waiver, 0.25% waiver fee ($15,250), and principal paydown schedule of $170K over 90 days to cure 72% LTV breach (vs 70% max). Alternative: issue cure notice and accept extension requirement.
Counsel: Robert Klein signed offVote needed: MajorityImpact: $15K fee income, protects borrower relationship
Resolution 2026-Q2-02: Q1 Distribution Declaration
Apr 22 BoardDeclare Q1 2026 distribution of $3.95M (6.4% annualized) to LPs of record on Apr 30, 2026. Classification: 82% ordinary income, 18% return of capital. Consistent with prior quarter.
Coverage ratio: 1.23x earningsCash avail: $30.0M ✓Vote needed: Majority
Resolution 2026-Q2-03: Summit Ridge Loan Approval
Apr 22 BoardApprove $8.5M bridge loan to Summit Ridge Capital (Thornton industrial), 11.5% interest, 18-month term, 58% LTV, 1.52x DSCR, full recourse with personal guarantee. AI underwriting and IC both recommend.
Origination: $85K feeStress passed: +200bp holdVote needed: Majority
Board Composition
Steven B. Chotin
Chair · Founder & CIO (35yr)
Ross S. Chotin
Director · CIO · Investment Committee
Thomas F. Marano
Director · COO · Apollo ABC Board
Julie Backer, CPA
Controller · Non-voting observer
Open Seat
Independent Director — search active
Pre-Meeting AI Briefings
GeneratedDirector brief — Steven Chotin
3-page narrative: Q1 standout = zero defaults, Meridian cure in progress, Fund I 47%. Your personal concern: succession planning. Addressed in exec session.
Director brief — Ross Chotin
Investment narrative: Summit Ridge recommendation, Meridian workout, Stapleton pipeline, Denver industrial tailwinds. Your CapEx asks: reappraisal budget increase +$18K.
Expected board questions
Based on 4 years of minutes: (1) Fund I closing timeline, (2) office exposure, (3) Apollo ABC conflict protocol, (4) succession, (5) insurance cost increases. AI has drafted answers.
Daily Workflow & Cross-Team Operations
Kanban view of everything in-flight across 5 team members · Handoffs tracked · SLAs monitored · Q1 close is happening in public, not in Tom's inbox
Open Tasks
28
Blocked
3
Overdue
1
Due this week
9
Q1 Close
74%
Team on track
4/5
Avg cycle
2.4d
SLA met
96%
Q1 Close Workflow — Cross-Team Critical Path
74% · Due Apr 15Barbara — Accruals
Done
Ross — Property NOI
Done
Julie — Bank Recons
In Progress
Julie — K-1 drafts
In Progress
Julie — Controller Pkg
Due Apr 15
Handoffs & Blockers
3 blockedBLOCKED: K-1 Drafts — Waiting for Robert Klein
Julie → Klein: Fund I partner allocations need legal review before final K-1s. Klein ETA Apr 11. Julie's downstream: deliver to LPs Apr 15.
2d delay
BLOCKED: Meridian Cure Letter — Waiting Tom sign-off
Klein drafted, Ross reviewed, Ashley packaged. Needs Tom signature before Apr 9 deadline.
Today
BLOCKED: Summit Ridge Term Sheet — Waiting Ross IC vote
AI memo approved, Tom reviewed, awaiting formal Ross IC sign-off. Mike Richardson (CBRE) pinging.
2d
Team Velocity — Trailing 30 Days
HealthyTom Marano
2.1d cycle
Ross Chotin
2.8d cycle
Julie Backer
1.8d cycle
Ashley Lloyd
2.5d cycle
Barbara Cowgill
0.9d cycle
AI observation: Julie's cycle time dropped from 3.4d (Q4) to 1.8d after Helios automated the entity-level P&L roll-up. That single automation saved ~18 hours/month.