Cadence, the leading fintech securitization platform for private credit, announced today that Rohit Bharill recently joined the company as its first Head of Risk. In this role, Bharill will be leading the risk management efforts and report directly to Cadence founder and CEO, Nelson Chu.
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Bharill is joining from Morningstar Credit Ratings, where he was a Managing Director heading the ABS and CLO ratings team. While there, he led a team of 14 analysts focused on new issue and surveillance ratings of various ABS asset classes and CLOs, including research, rating methodology development, cashflow modeling and legal documents review.
He brings more than 12 years of experience in structured finance with previous roles at Moody’s, Nomura and Lehman Brothers. His expertise includes a large variety of synthetic and asset-backed securities from his work at various credit trading desks and rating agencies.
“I’m honored to be joining at such a pivotal time for the company, and I believe there is a strong overlap of values that makes this an incredible opportunity,” Bharill said. “Cadence has the chance to be uniquely positioned to empower investors with a host of data at their fingertips. I’m excited about what Cadence has to offer to both the retail and institutional investor community.”
“We are thrilled to welcome Rohit to the Cadence team,” said Nelson Chu. “He is an exceptional addition, and his background makes him uniquely suited for what we’re building here. His expertise will be instrumental as we shift our focus towards the next phase of growth, bringing a level of institutional credibility to all of our Retail and Institutional offerings.”
Bharill’s hiring comes during a period of record growth for Cadence. Founded in mid-2018, Cadence has quickly positioned itself at the forefront of private credit. Its retail division, offering an investment platform for accredited investors, has seen a surge in growth since going live in July 2019. More than $125 million of notes have been issued across 110 offerings and 12 originators. To date, the company has paid out over $2.60 million in interest and returned more than $99 million in principal. Retail and institutional investors alike have taken to Cadence’s platform in part because of the unique deals offered for investment, including short durations, high yields and zero fees.
Earlier this year, the company also acted as sole structuring consultant and arranger in a DBRS Morningstar-rated $40 million securitization with FAT Brands, Inc. (NAS: FAT), the first time a public rating has been assigned in connection with a digitized asset-backed security.
