Experience matters and we have a cohesive and tenured team with extensive individual and collective knowledge across asset classes and market cycles. The firm was founded by Mike Lazar, who has over 30 years of experience investing in credit and private equity markets. 

Mike Lazar, Chief Executive Officer & Chief Investment Officer

Michael B. Lazar has over 30 years of experience investing in credit and private equity markets. Prior to launching PLC, Mr. Lazar co-founded BlackRock Kelso Capital Corporation (“BKCC”) and served on its Investment Committee and was its Chief Operating Officer from its formation in 2004 until March 2015. Additionally, Mr. Lazar served on BKCC's Board of Directors and served as a managing member of BlackRock Kelso Capital Advisors, LLC, BKCC's investment advisor, until March 2015, and as managing member of BlackRock Kelso Mezzanine Advisors. Prior to BlackRock Kelso, Mr. Lazar spent 13 years at Kelso & Company, LP, an established middle market private equity firm, where he was a Principal and Managing Director (partner). Prior to joining Kelso, Mr. Lazar worked in the Acquisition Finance Group at the predecessor to J.P. Morgan Securities Inc. He began his career in the Corporate Finance and Structured Finance Groups at Chemical Bank, where he focused on financings for leveraged companies.

Mr. Lazar received an A.B. degree from Dartmouth College cum laude and with High Honors. Mr. Lazar has served as Co-Chair of the Leadership Council of the Naomi Berrie Diabetes Center at Columbia University Medical Center and serves as a Trustee of the Rye Country Day School. Mr. Lazar previously served as a member of the Dartmouth College Fund Committee, as President of the Rye Country Day School Alumni Executive Board and a Director of the New York Division of the March of Dimes. In addition, Mr. Lazar has served on the public and private Boards of Directors of certain Kelso portfolio companies and as a Director of Gordon Brothers Finance Company.

Scott Booth

Scott Booth has 20 years of experience in the private credit and private equity markets.  Most recently, he served as a Director for BlackRock’s US Private Capital group, which manages several direct lending funds, including BlackRock Capital Investment Corporation. While at BlackRock, he originated, evaluated, and negotiated private debt investments, and led the groups healthcare industry efforts.  Prior to joining BlackRock, Mr. Booth was one of the original employees of BlackRock Kelso Capital (“BKC”), which he joined in 2006.  While at BKC, Mr. Booth provided private credit solutions for middle-market borrowers across a variety of industries. Prior to BKC, Mr. Booth was a Principal at Park Avenue Equity Partners (“Park Avenue”), a private equity fund focused on lower middle market equity investments.  At Park Avenue, Mr. Booth oversaw several of the fund’s portfolio companies, and originated and evaluated new platform investment opportunities. Mr. Booth began his career in finance at Deutsche Bank Securities in 1999, where he was an Associate in the Healthcare Investment Banking Group. 

Mr. Booth has served on the Board of Directors of Systech Retail Systems Corp., and Virtual Radiologic Corporation.  Mr. Booth received his Bachelor of Science degree in Finance from The Pennsylvania State University.

Mike Cassetta

Michael Cassetta has 20 years of experience investing across the capital structure. He most recently ran non-sponsor originations and capital markets activity for the private credit funds of AllianceBernstein. Prior to joining AllianceBernstein, Mr. Cassetta was a Managing Director and Investment Committee member of Gordon Brothers Finance Company (which was the largest portfolio company of BKC), where he sourced and structured several private debt transactions and managed a liquid portfolio of bank loans and bonds. Prior to Gordon Brothers Finance Company, Mr. Cassetta ran a special situations-oriented portfolio at Citadel, and, prior to that, he was a member of the distressed debt group at Davidson Kempner.  In both roles, he sourced, analyzed and invested in various debt and equity special situations. Prior to business school, Mr. Cassetta worked in private equity at Heartland Industrial Partners, where he worked closely with two platform investments on strategy, financing and acquisition programs and began his career in the Acquisition Finance group at Chase Securities (predecessor to JPMorgan Chase) focusing on financing solutions for financial sponsors.

Mr. Cassetta received his B.S. in Accounting from Bentley University, where he graduated summa cum laude, and an M.B.A. from Harvard Business School, where he graduated with honors.

Sam Chang

Sam Chang has over 10 years of experience investing in the private credit and equity markets. Prior to joining PLC, Mr. Chang was a Vice President at Freedom 3 Capital, a middle market investment fund, where he focused on all aspects of the investment process including sourcing, analyzing, structuring and negotiating debt & equity investment opportunities across various industries as well as post-investment management. Prior to joining Freedom 3 Capital, Mr. Chang was an Associate at Czech Asset Management, a $4.5 billion credit fund, where he focused on providing debt financing solutions to sponsor-backed middle market companies. Mr. Chang began his career as a credit analyst at JP Morgan and Citigroup.

Mr. Chang holds a B.S. in Finance from Rutgers University where he graduated with honors.

William Foye

Will has over 15 years of experience investing across the capital structure and is responsible for all aspects of the investment process. Prior to joining PLC, Mr. Foye was a Director with Lafayette Square, a privately-held Business Development Company, where he focused on originating and structuring transactions for middle-market private equity firms. Mr. Foye was also a Director at Hancock Capital Management, where he originated, underwrote and managed junior debt and non-control equity investments. Earlier in his career, he was a founding member of RBS Citizens’ Leveraged Finance group and held roles within several business units at Hilco Global.

Mr. Foye earned a B.S. in Business Administration from the University of Vermont.

Justin Gray

Justin Gray was an Analyst on JPMorgan Chase’s Middle Market Financial Sponsors team prior to joining Piney Lake, where he partnered with the firm’s Investment Banking and Commercial Banking divisions and was responsible for structuring syndicated and pro rata loans for sponsor clients. Mr. Gray was previously a member of JPMorgan Chase’s Hedge Fund Credit Risk team, where he partnered with the firm’s Sales and Trading division and was responsible for underwriting hedge fund counterparty credit exposure.

Mr. Gray holds a B.S. in Finance from Manhattan College, where he graduated magna cum laude.

Kevin King

Prior to joining PLC, Kevin King was an Associate Analyst at Moody’s Investors Service. While at Moody’s, Mr. King focused on the Basic Materials sector, including Chemicals, Metals & Mining, and Paper & Packaging industries and worked with management teams and equity sponsors in the credit ratings process. Prior to Moody’s Investors Service, Mr. King was an Associate at Tradition Energy, an energy procurement advisor.

Mr. King holds a B.A. in Communications and Minor in Business from the University of Connecticut and has passed the CFA Level II examination.

Basil Palmeri

Basil Palmeri has over 30 years of experience investing in the corporate credit markets. Mr. Palmeri most recently served as a Managing Director at BlackRock Advisors LLC (the successor to BKCA as investment advisor to BKC) and was one of four senior investment professionals who started with BlackRock Kelso Capital Advisors at the commencement of its operations in 2005. Mr. Palmeri oversaw and actively participated in all aspects of the investment deal process including sourcing, analyzing, structuring and negotiating debt investment opportunities as well as post-investment management. Mr. Palmeri served as a member of the Board of Directors for three BKC portfolio companies, Gordon Brothers Finance Company, Red Apple Stores and Bankruptcy Management Solutions. Prior to joining BKC in 2005, Mr. Palmeri was a Managing Director at GMAC Commercial Finance - Structured Finance Group, one of the largest commercial finance companies in the industry. Mr. Palmeri played a leading role in the build out of the Structured Finance Group, which included recruiting professionals to fill the roles of Senior Credit Officer, Senior Manager of Accounting and Due Diligence, and several Senior Account Managers. Prior to joining GMAC, Mr. Palmeri was a Director at Deutsche Bank and its predecessor, Bankers Trust. He held various positions within the secured leverage finance division of the investment bank during his tenure at Deutsche Bank and Bankers Trust including New York Regional Manager and National Group Credit Manager. Mr. Palmeri's responsibilities included working with equity sponsors, middle market companies and third-party financial advisors in the analysis, underwriting and managing the financing for leveraged buyouts, recapitalizations and restructurings, in addition to fulfilling the role of agent to bank syndicated deals. He began his banking career in the asset-based lending division of Manufacturers Hanover Trust (predecessor to JPMorgan Chase).

Mr. Palmeri received a B.S. in Accounting from the University of Scranton and M.B.A. from Adelphi University. Mr. Palmeri completed the Manufacturers Hanover Trust Credit Training Program.

Dwight Scales

Prior to joining PLC, Dwight Scales was an Associate on Macquarie Capital’s Leveraged Finance team. While at Macquarie, he was focused on structuring and underwriting syndicated leveraged loans to support sponsor clients across a variety of industries including Industrials, TMT, and Gaming. Mr. Scales began his career as part of EY Parthenon’s Restructuring and Turnaround practice, providing liquidity management and turnaround services to clients in the Consumer Retail industry.

 Mr. Scales holds a B.S. in Statistics from the University of California, Los Angeles.

Rebecca Sinha

Rebecca Sinha was an analyst on Moelis & Company’s M&A and Restructuring team prior to joining Piney Lake Capital. While at Moelis & Company, she worked across several industries, including Business Services, Industrials and Telecommunications. Ms. Sinha was also previously an Analyst on HSBC’s Financial Sponsors team.

Ms. Sinha holds a B.S. in Healthcare Management and Policy and a Minor in Economics from Georgetown University.

Chip Wagner

Chip Wagner was an Analyst on JPMorgan Chase’s Asset Based Lending team prior to joining Piney Lake. While at JPMorgan Chase, his responsibilities included underwriting, new origination screening, and portfolio monitoring covering large corporate and middle market companies. Mr. Wagner worked across a variety of industries, including Retail, Industrials, and Healthcare.

Mr. Wagner holds a B.S. in Business Administration and Minor in Real Estate Development from the Marshall School of Business at the University of Southern California.

Mark Williams

Mr. Williams has over 30 years of experience underwriting credit, trading non-investment grade debt and managing credit funds. Prior to Piney Lake, he was a Managing Director at BlackRock Kelso Capital.  In addition to his role as a senior investment professional, he helped lead BKC's liquid credit strategy. Prior to BKC, Mr. Williams was a founder and Co-Head of BlackRock Financial Management's Leveraged Finance business. In that role, he was responsible for BlackRock's Loan and High Yield underwriting and investing activity, portfolio management and fundraising. As a senior Portfolio Manager, he raised and managed leveraged finance products including open end and closed end mutual funds, separate accounts, and credit opportunity funds. He was a member of BlackRock's Alternatives Operating Committee and the firm's Investment Strategy Group. He has participated actively in BlackRock's fundraising activities relating to its leveraged finance business, raising capital for a variety of investment vehicles from a broad range of investors such as pension funds, insurance companies, sovereign wealth funds, foundations and family offices. While at BlackRock, Mr. Williams was intimately involved with BlackRock Kelso and served as a lead BlackRock representative working with the firm, particularly in his participation with its investment process and committee. Prior to joining BlackRock, Mr. Williams spent eight years as a founding member of PNC Bank's Leveraged Finance team based in New York. In that role, he was responsible for sponsor coverage, as well as underwriting loans and mezzanine facilities for the bank's middle market clients.

Mr. Williams graduated with a B.A. in Economics from Franklin and Marshall College.