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Gabriel Fernandez

Gabriel serves as Manager of the Finance Portfolio Manager at Pensam. In this role, he is responsible for analyzing investment performance, managing loan servicing and asset management processes, preparing debt schedules, producing financial reports, and maintaining accounting records.

Prior to joining Pensam, Gabriel worked at COFE Properties as a Fund Manager, where he prepared distribution waterfalls, reported financial performance, assisted with investor relations, and maintained accounting books.

Gabriel earned a BA in Economics from the University of Florida and a Master of Business Administration with a concentration in Mergers and Acquisitions from the University of Miami.

gfernandez@pensamcapital.com

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Alejandro Muelle

Alejandro serves as the Director of the Finance Portfolio at Pensam. In this role, he is responsible for overseeing financial strategy and managing Pensam’s structured finance portfolio. Alejandro’s responsibilities encompass aligning the portfolio’s financial performance with company objectives, enhancing portfolio efficiency, and steering portfolio management strategies to achieve sustainable, long-term growth. He plays a pivotal role in streamlining financial processes and working closely with senior leadership to drive strategic initiatives.

Since joining Pensam in 2014, Alejandro has been instrumental in building out the Accounting, Human Resources and Development departments while serving as Vice President of Operations. Prior to joining Pensam, he was Vice President of Operations for a statewide real estate developer and a senior accountant at a CPA firm specializing in real estate investments.

Alejandro earned two Bachelor’s degrees (1997) and a Juris Doctor (2000) from the University of Florida, as well as a Master of Accounting degree (2014) from Florida International University. He is a member of the Florida Bar and a Certified Public Accountant (CPA).

amuelle@pensamcapital.com

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Ray Cleeman

Ray is Partner and Head of Capital Markets and Lending at Pensam. He is responsible for sourcing, structuring, negotiating and executing on whole-loans, mezzanine loans and preferred equity investments. Ray is also responsible for building relationships with sponsors to help provide innovative capital solutions that are tailored to their unique funding needs. Additionally, he leads Pensam’s efforts to build close relationships with senior lenders, including debt funds, commercial banks and life companies.

Ray spent the formative years of his career on Wall Street having worked as an investment banker at Credit Suisse, Donaldson, Lufkin & Jenerette, and Raymond James. He has been involved in the issuance of over $6 billion of high yield securities, the issuance of over $3 billion of private and public equities, arranged bridge commitments and senior loan facilities, advised on over $7 billion of global M&A transactions and advised on several merchant banking transactions. Previously, Ray was also SVP Finance and Treasurer of a publicly traded company.

Ray attended NYU in New York City.

rcleeman@pensamcapital.com

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Hen Shoval

Hen is a Principal and the Partner, Chief Investment Officer at Pensam, where he leads the company’s investment activities, including property acquisitions, dispositions, and structured finance transactions. He has spearheaded transactions exceeding $10 billion.

Prior to joining Pensam, Hen held key positions at other real estate investment firms, focusing on the acquisition of multifamily properties across the United States.

Hen holds an MBA from Esade Business School, and a Bachelor of Arts in Economics from Florida International University.

hshoval@pensamcapital.com