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Institute for Portfolio Alternatives Elects New Board Members for 2023

IPA also appoints CNL Financial Group’s Chirag Bhavsar as Chair Elect for 2023

WASHINGTON, Dec. 16, 2022 /PRNewswire/ — The Institute for Portfolio Alternatives (IPA) today announced it has elected 11 new directors. The IPA Board of Directors consists of senior executive leaders from all corners of the portfolio diversifying investments industry, each elected to a three-year term effective January 1, 2023.

(PRNewsfoto/Institute for Portfolio Alternatives)

(PRNewsfoto/Institute for Portfolio Alternatives)

In addition to naming 11 new directors, the Board of Directors also elected CNL Financial Group’s Chirag Bhavsar, as chair-elect for 2023. Chirag currently serves as Co-CEO of CNL Financial Group and CEO of CNL Strategic Capital. He has served as an IPA Director since 2021 and a member of the Board’s Finance and Compensation Committee and Defined Contribution Task Force.

“The individuals elected to the IPA Board of Directors are representative of the incredible talent and transformational growth we have seen from across the alternative investment industry,” said Anya Coverman, IPA’s President and Chief Executive Officer. “The IPA Board brings together a group of leaders who represent our guiding principles as well as the diversity of our community. Together, they will ensure all industry stakeholders have a voice in our work and that the IPA continues to be a strong and effective advocate for access to alternatives.”

New and existing directors will be led by Matt Fries, Head of Due Diligence at Cetera Financial, who will serve as the 2023 chair.

The IPA welcomes the following individuals as newly elected directors:

Asset Managers

  • Angie Fisher, 1st Vice President, Fund Operations – Partner Solutions Group, CIM Group

  • John McCarthy, Chief Executive Officer, Starwood Real Estate

  • Deann Morgan, EVP, Global Head of Product, Nuveen

  • Michael Sealy, Chief Capital Markets Officer, Sealy & Company

  • Dallas Whitaker, Chief Executive Officer, Carter Exchange

  • Patrick Willis, Managing Director and Head of Private Wealth Strategic Partnerships, Blue Owl

Distribution Partners

  • Paul Mumma, Vice President – Alternative Investments, Ameriprise Financial

  • Steve Snyder, Senior Vice President, Investment Product Management, LPL Financial

Industry Partners

  • Daniel Cullen, Partner, Baker & McKenzie LLP

  • Justin Schwartz, Executive Director, DTCC

  • Chris Shaw, Vice President, SS&C Technologies

They join the following senior industry leaders who continue their work on the IPA Board of Directors:

  • 2023 Chair, Matt Fries, Head of Due Diligence, Cetera Financial Group

  • 2023 Chair Elect, Chirag Bhavsar, Co-CEO, CNL Financial Group

  • Chair Emeritus, Anne-Marie Vandenberg, President & CEO, RREEF Property Trust and Lead Portfolio Manager of RREEF Management L.L.C. Alternatives

  • Christina Adamson, Managing Director, Ares Management Corporation

  • Jeremy Beal, Managing Director, Head of Alternative Investments, Wealth Management, Morgan Stanley

  • Chase Bolding, Chief Investment Officer & Portfolio Manager, Invesco Real Estate Income Trust, Inc.

  • Alice Connaughton, Partner, Morrison & Foerster LLP

  • Bill Duffy, Vice President, Alternative Investments, Fidelity Institutional 

  • Mark Earley, Chief Executive Officer, Hines Securities Inc.

  • Nancy Fahmy, Managing Director, Bank of America

  • Thayer Gallison, Senior Vice President of Capital Markets, Head of Product Strategy, Cottonwood Residential

  • James Goedtke, Senior Vice President, Due Diligence Analyst & Product Manager, American Portfolio Financial Services, Inc.

  • Jason Goode, Partner, Alston & Bird LLP

  • Brian Hurley, Managing Partner & General Counsel, Public Securities, Brookfield

  • Doug Krupa, Managing Director, Co-Head of Private Wealth Partners, KKR & CO. Inc.

  • Paul Mumma, Vice President of Alternative Investments, Ameriprise Financial

  • Jerry Pascucci, Managing Director, UBS

  • Sheila Rapple, Managing Director, Global Head of Investor Services, Blackstone

  • Thomas Sittema, Executive Chairman, Conversus, A Stepstone Company

  • Brad Sussman, Vice President, Product Development and Research, Alternative Investments, Global Wealth Solutions, Raymond James

About Institute for Portfolio Alternatives

The Institute for Portfolio Alternatives seeks to raise awareness of portfolio diversifying investment (PDI) products among stakeholders and market participants, including: investment advisors, public policymakers and the investing public. It supports increased access to investment strategies with low correlation to the equity markets: lifecycle real estate investment trusts (“Lifecycle REITs”), net asset value REITs (NAV REITs), business development companies (BDCs), interval funds and direct participation programs (DPPs). Through advocacy and industry-leading education, the IPA is committed to ensuring all investors have access to real assets and the opportunity to effectively balance their investment portfolios. For more information, please visit

Contact: Lauren Sorensen, Edelman
(515) 343-4972



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SOURCE Institute for Portfolio Alternatives

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