WHAT WE DO

Private Credit Strategies

SAIL is focused on scaling our private credit approach. Our first Fund is the &Green Fund.

&Green Fund

Other Strategies

SAIL is raising its second Climate and Biodiversity focused global private credit fund. The Fund extends senior secured loans to non-sponsor driven, large mid-market corporates.

pam tree arial view

The &Green Fund

&Green is a USD 400 million private credit vehicle, setup in 2017, with the main promoter and cornerstone contributor being the Norwegian government’s International Climate and Forest Initiative (NICFI).

&Green is a proof-of-concept vehicle that paves the way to accelerate the climate transition and to preserve biodiversity by ending deforestation in tropical commodity supply chains.

www.andgreen.fund
indonesia coffee farm
white cows in Brazil
pam tree arial view
fern trees

Vision

The &Green Fund invests to prove that financing inclusive, sustainable, and deforestation-free commodity production can be commercially viable and replicable.

Geography

Tropical forest zones globally, with a current portfolio delivering impact in Brazil, Colombia, Indonesia, Vietnam and Côte d’Ivoire.

&Green Finance

&Green is a platform set up to showcase the impact of smart transition financing. The evergreen structure provides direct financing to sustainable growth opportunities. It deploys USD 5 to 30 million per transaction. It also uses Technical Assistance to support its borrowers, to understand new markets, and to assess local challenges. 

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Pedro Gonfrier

Pedro Gonfrier joined SAIL’s Origination Network as a Consultant in Latin America. He also leads or participates in projects across Latin America and other countries within AFRY’s coverage.

With over 25 years of international experience in the Energy and Bioindustry sectors, Pedro has held senior roles including BDM, CFO, and CEO. He has led business development, operations, M&A, and financing efforts in Europe, the U.S., Brazil, and across Latin America. He holds a degree in Economics and a postgraduate specialization in Economic and Social Project Evaluation from Universidad de los Andes in Bogotá, a Master’s in International Business Management from Universidad Carlos III in Madrid, and additional executive education in Corporate Finance and M&A and Renewable Energy Project Taxation and Financing from institutions in Spain.

Pedro is an active advisor and board member—and a passionate advocate for sustainable investment in emerging markets.

Elena Faloutsou

Elena Faloutsou is a Senior Associate in the Operations team at SAIL Investments, responsible for managing the organisation’s legal, regulatory, compliance, and corporate governance matters.

She brings over 12 years of legal expertise as an investment funds & financial services lawyer, with experience acquired in Luxembourg, the City of London and the Netherlands. Elena previously practised as an attorney-at-law in the investment management practices of prominent international law firms (Skadden; Dechert; Loyens & Loeff) and built a substantial fund formation, regulatory and LP advisory practice with a particular focus on private funds. She is qualified to practise in Greece (Athens Bar Association) and England & Wales, and has previously been registered with the Luxembourg and Netherlands Bars as an EU lawyer. Elena holds a Master’s Degree in Corporate Law from the University of Cambridge, an LL.M. in European Law from the College of Europe and a Bachelor of Laws from the National and Kapodistrian University of Athens.

Outside of work, Elena enjoys playing classical music and Gershwin songs at the piano, writing short stories, reading American authors who lived in Paris in the 1920s and supporting ADO Den Haag.

Lucy Bowen

Lucy Bowen leads marketing and communications at SAIL Investments as part of the capital raising team. Her work spans investor engagement, market positioning and strategic knowledge partnerships that support SAIL’s mission and growth.

Her global career spans Australia, Asia-Pacific, London and the Netherlands. She brings experience from Bell Pottinger (later Klareco Communications), where she led strategic communications campaigns for financial institutions; from Ninety One, where she worked on investment content, reporting and macro research; and from Anthos Fund & Asset Management, where she led communications across public and private markets, including dedicated impact portfolios. She began her career at Azure Capital, gaining early exposure to private markets and valuation in the commodities sector. Lucy is a strategic communicator who brings intellectual range, creativity and clarity to telling SAIL’s story. She takes an evidence-led approach that cuts through noise and puts purpose at the centre of investor conversations. She’s driven by big ideas, and thrives on meaningful dialogue that connects people to long-term vision and values. She holds a degree in Philosophy and English from the University of Bristol. 

Outside work, she’s passionate about storytelling in all its forms and explores new ideas through travel, nature and wide reading—including a recent trek across Peru’s Inca Trail and the Amazon. Her ever-expanding book collection continues to grow, to her husband’s ongoing frustration.

Veronica Valentini

Veronica Valentini is an Associate Director in the Origination team of Sail Investment, covering Latin America and based in São Paulo. Before joining SAIL, she has worked for 8 years in large financial institutions. Her previous role was as Manager of the Sustainable Innovation team at Santander bank, responsible for originating and structuring financial mechanisms to finance sustainability projects all over Brazil. Veronica was also a relationship manager for large-sized multinational corporations both at Citibank and Deutsche Bank in Brazil. She started her career as a Trainee at Deutsche Bank, having completed the bank’s training course in London.
Veronica has a Bachelor’s in Business Management and also attended Law School graduation, both at Fundação Getúlio Vargas in São Paulo.

In her free time, Veronica enjoys traveling and discovering new locations, while also spending time with her dogs.

Stefan-Maria Heinemann

Stefan-Maria Heinemann is a Strategic Advisor in risk management for SAIL Investments. A risk, ALM, and SAA professional with over 20 years of experience, he has previously worked in the front office of DBV Winterthur (now AXA), at the asset management division of the Hoechst pension fund, for Société Générale investment bank, and as Head of Risk Management/SAA/ESG for Ampega, the asset manager of Germany’s third-largest insurer, Talanx. He also worked as a consultant for Willis Towers Watson. Stefan began his academic career as a researcher in dynamical systems at I.H.E.S./Paris, Indiana University, Göttingen University, and the Technical University of Clausthal. A trained scientist, Stefan holds a diploma, a PhD, and a habilitation in Mathematics (Stochastics).

He also holds performance degrees in piano and organ (church music) from the Jacobs School of Music (Indiana University) and enjoys playing and singing music ranging from early music to Arvo Pärt.

Masha Orbant

Masha Orbant is an Associate Director in the Sustainability team at SAIL, bringing over 13 years of expertise in sustainability. She has held various global roles at Shell and GE Vernova, most recently leading the development and execution of sustainability strategies, including implementation of decarbonization and circularity roadmaps for renewable energy businesses. Before her corporate career, Maria worked with development consultancies, NGOs, and multilateral organizations. She holds an MSc in Local Economic Development from the London School of Economics (LSE) and is a trained macroeconomist.

Originally from Bulgaria, Maria has lived in 10 countries across Europe, as well as the Philippines and the United States. Outside of work, she enjoys spending time with her husband and three young sons, traveling, and reading.

Murilo Parada

Murilo Parada is a strategic board advisor at Sail Investments. He is a senior executive with extensive experience in the agribusiness sector, including over 20 years with Louis Dreyfus Company, and significant international exposure, having lived in the European Union, the USA, and China for three years. Murilo has held several C-level positions in different countries and commodities, always integrating sustainability as a core pillar of company strategies and development. He served for seven years as CEO of Louis Dreyfus Company in Brazil, overseeing 11,000 employees, and two years as CSO (Global Chief Sustainability Officer) for Louis Dreyfus Company, managing 22,000 employees and overseeing over US$ 60 billion in revenue. He was also a board member of ALZ, a major grain trading and logistics company in Brazil with over US$ 1.2 billion in revenue, and a board member of Strada, an agri/fintech startup for logistics solutions, now valued at over US$ 2 billion in revenue.Murilo began his career studying agricultural economics and working on microfinance projects for agriculture. He also developed a web-based venture to trade wheat before joining LDC as a trainee.

Murilo holds a specialization in corporate governance from Columbia Business School, NY, USA. He has a Master in Business Economics from Fundacao Getulio Vargas, Sao Paulo, Brazil and a major in Agriculture Engineering from University of Sao Paulo, Brazil

He likes running and swimming at the ocean, but only at slow speed and warm waters.

Nancy Surachman

Nancy Surachman is the Country Lead of Sail Investments for Indonesia. A mergers and acquisitions professional with over 15 years of experience, she previously worked for Asia Pulp and Paper, the world’s leading manufacturer of pulp, paper, and forestry products. She led merger and acquisition projects at APP globally, collaborating with cross-functional teams to execute high-value deals. She began her career as an analyst at Principia, a private equity firm in Indonesia. Nancy holds a Bachelor of Business Administration from the University of Michigan, United States.

Outside of work, she enjoys traveling and is keen on learning new areas of interest, such as food nutrition and programming.

Thomas Thoden van Velzen

Thomas joined the investment team of SAIL as a Director. He has 18 years of experience in investment management, mainly working in credit. He started his career working for APG Asset Management, before he moved to London to work for the credit arm of KKR in global convertible bonds. Prior to SAIL, he worked for PGGM Investments in the Emerging Markets Credit team where he was Lead Portfolio Manager. Thomas has a master’s degree in finance from Maastricht University and is a CFA charter holder.

In his free time, Thomas likes to play padel and hockey and also enjoys to spend time with his family, preferably sailing together.

Libbis Sujessy

Libbis Sujessy joined SAIL’s Origination Network as a Consultant in Indonesia. She is a dynamic mid-level sustainability professional with 7 years of diverse experience spanning waste management, energy, and agriculture sectors. Initially a process engineer, she pivoted to sustainability, driven by passion for environmental stewardship. Her career has led her to explore various facets of sustainability, recently focusing on green financing and entrepreneurship. This multifaceted background provides comprehensive understanding of sustainable practices across industries. Formally trained in chemical engineering and industrial ecology, Libbis brings a unique blend of technical expertise and environmental knowledge to her work. Her analytical skills, honed through engineering, complement her sustainability focus, enabling innovative approaches to complex environmental challenges.

Outside work, she’s an avid reader, aiming to finish at least one book monthly, and is currently exploring new sports-related hobbies.

Mihail Belostennyj

Mihail Belostennyj, a financial professional with over 20 years of experience,  is the Head of Origination of SAIL Investments. Over the past 15 years prior to joining SAIL Mihail worked as Managing Director/CEO of Lux Kapitalmarkt Mangement AG in Luxembourg, focusing on structuring of securitization transactions with members of the German Sparkasse Group and other institutional investors and stakeholders.  Mihail has extensive expertise in origination and management of alternative asset portfolios. He started his career as a financial services professional working for Citco Fund Services, TMF Group, and former Fortis Intertrus in Luxembourg. Mihail holds a Bachelor’s Degree in Business Administration from Birmingham-Southern-College in Birmingham, Alabama, USA.

He balances his work by participating in various sports activities with his twin sons.

Marcela Paranhos

Marcela Paranhos is Associate Director Sustainability of Sail Investments. Bringing 20-years experience in sustainability and climate finance, she worked for 15 years providing consultancy services for large-sized Brazilian listed companies and sectoral support for different industry sectors, as industry, agriculture, and energy. Since 2018 with a special focus on land-use related sectors, she worked for global NGOs as IDH and The Nature Conservancy, leading the sustainable finance agenda in Latin America. She started her career managing the carbon finance portfolio for ArcelorMittal businesses in Brazil. 

Marcela is an Economist, holding a Bachelor degree in Economic Science from the Pontificy Catholic University of Minas Gerais, Brazil.  She is a family person, passioned about wine and coffee, who spends most of her personal time with books and home cooking.

Luca Ribichini

Luca Ribichini is a Senior Associate in the Business Development team at SAIL Investments. He brings +10y of experience within Asset Management, Investment Banking, Corporate/Investor Banking, Advisory and Impact Venture Capital. He previously held the position of Head of IR at a European Impact VC fund, focusing on institutional investor relationships and business development. In Private Debt, he served as an Investor Banking Sales Associate, covering various sectors within Senior Secured Loans. He was also selected as one of the 100 U35 Italian innovators by the Financial Times. He started his career in Credit & Counterparty risk and Performance Attribution of a large Asset Manager and then moved to Equity Sales & Trading as Sales Associate for an Investment Bank. Luca holds a M.Sc. in Finance (cum laude) from the Tilburg School of Economics & Management, Netherlands, and a B.Sc. in Economics & Finance from Bocconi University, Italy. 

Outside office, Luca is a painter and enjoys playing tennis. He is also the Chapter Leader of Bocconi Alumni Amsterdam. 

Tommie Linders

Tommie Linders has recently joined Sail Investments as a Senior Associate Finance and Operations, after being employed at EY in the Strategy and Transactions practice. He has over seven years of experience in Financial Due Diligence, including Financial Statement Analysis, Reporting and Accounting in a transaction driven environment. During this period, Tommie became a financial specialist in an international context, further emphasized by completing the CFA program in 2021. His academic credentials also comprise a Master’s degree in International Business with a specialization in Finance and a Bachelor’s degree in International Business, both from Maastricht University in the Netherlands. 

 

When Tommie is not working, he likes to spend time in his beloved Amsterdam, running through the surrounding countryside, visiting the local restaurants and cheering for its world-famous football club.

Sara Senouci

Sara Senouci, Sustainability Associate at SAIL, boasts a background in financial services and ESG risk assessment. Prior to joining SAIL, she served as a research analyst at Sustainalytics-Morningstar, focusing on companies within the packaged foods, agriculture, and retail apparel sectors. Sara’s academic credentials include an MA in African Studies from Leiden University and a bachelor’s degree in international studies from Al Akhawayn University in Morocco. Additionally, she possesses a certificate in ESG investing from the CFA Institute.

When she is not working, Sara enjoys traveling, literature and good food.

Lucian Peppelenbos

Lucian Peppelenbos is an external and independent member of SAIL’s Investment Committee, bringing in over 25 years of experience as a sustainability professional. He works for Robeco as Climate and Biodiversity Strategist. Robeco is an international asset manager with over EUR 180 billion in assets under management; and Lucian oversees the integration of Climate and Biodiversity in the company’s investment processes. Lucian previously worked as responsible investment specialist at APG Asset Management. Before that he helped to set up IDH Sustainable Trade Initiative, a public-private partnership that co-invests with corporates in sustainable commodity supply chains. He earned a PhD in social-economic sciences at Wageningen University.

In his free time, Lucian loves cooking and spending time in nature.

David Smart

David Smart serves as a Senior Adviser to SAIL and is a member of the SAIL investment Committee. He has 42 years experience as an investor with a particular focus on fixed income and emerging markets. He has however covered a wide array of asset classes including private equity, debt and venture capital
and, in the last 8 years, impact. David spent most of his career at Fiduciary Trust and Franklin Templeton where he enjoyed a 28 year global advisory relationship with the United Nations Pension Fund and worked with many of the top Sovereign Funds and Central Banks. He now has multiple non-executive and advisory roles and chairs the Investment Committee for the Health Foundation endowment fund, having spent 9 years in a similar role for the National Trust, Europe’s largest conservation charity, where he oversaw the introduction of an allocation to an impact portfolio aligned with the Trust’s main environmental objectives. He received an MA in Classics from Cambridge University. 

David greatly enjoys playing the piano, antiquarian books, tennis, cricket and rugby.

Istvan Fritsche

Istvan Fritsche is the Head of Business Development at SAIL Investments. He brings 24 years of expertise in asset management and banking across public and private markets that covered various asset classes. Istvan`s career includes roles at Goldman Sachs, JPMorgan AM, BlueBay AM, ING IM, IKB (AM), and RiverRock ECP. Transitioning from investment banking to the buy-side in 2004, and later to private markets in 2013 where Istvan found his enduring passion. Istvan’s academic background is diverse, with studies in Politics (International Relations), Economics, Philosophy, and Art History at Frankfurt University. Istvan is a CAIA Charterholder.

Outside the office, Istvan leads an active lifestyle as a runner, swimmer, squash and tennis player, and sailor.

O'Neil Thiart

O’Neil Thiart is an Investment Associate in the Investment team at SAIL Investments. His background includes a role as a listed equity analyst for a buy-side investment manager in South Africa, where he analyzed a wide array of equities on the JSE. O’Neil holds a BCom Hons in Financial Analysis from the University of Stellenbosch, graduating Cum Laude in 2021. He has also completed all three levels of the CFA program, positioning him to become a CFA charterholder once he meets the experience requirements.

O’Neil loves to swap his desk chair for a bike saddle, though his physique hints he’s more of an enthusiast than Tour de France contender.

Marthe Tollenaar

Marthe Tollenaar is the Associate Director in the Sustainability team at SAIL Investments, with more than 14 years of experience in managing sustainable forestry and agriculture investments in emerging markets. She led the sustainable strategy for Southeast Asia at New Forests in Singapore, and later managed international projects in The Netherlands for a carbon finance organization and began her career managing sustainable forestry in Africa. She holds an MSc in Ecology and Natural Resource Management and a BSc in Biology.

Marthe is an avid runner and yoga enthusiast, and the team’s dedicated supplier of home-baked banana bread.

Michael Schlup

Michael Schlup is the Chief Sustainability Officer of SAIL Investments, and a member of SAIL’s investment committee. He is a sustainability professional with over 25 years of experience, having previously worked for Barry Callebaut, the world’s leading manufacturer of chocolate and cocoa products including managing the Cocoa Horizons Foundation. As global agribusiness and food company Bunge, he oversaw Africa for their asset management and environmental markets team. He was the founding CEO of the Gold Standard Foundation, an NGO that established quantification and impact maximisation standards. Michael’s career began by advancing sustainable energy financing at the United Nations and working as a management consultant. Michael is a trained scientist and holds a M.Sc. in Geography from the University of Basel, Switzerland, and a M.Sc. in Industrial Environmental Economics from Lund University, Sweden.

A keen sailor and cyclist, Michael balances these exhausting activities by making his own beer, bread, and sausages.

Andrea Salmon

Andrea Salmon is the Business Manager at SAIL Investments. She oversees office management, HR, and projects that draw on over 11 years of operational and administrative experience in small to corporate-sized businesses. Andrea’s career began in Dubai, and she has since gained international experience in Hamburg, Cape Town, and currently in The Hague. She graduated from the University of Stellenbosch, South Africa, with a BA in Social Dynamics and a Postgraduate degree in Marketing.

Outside of work, Andrea enjoys hiking and cycling in the great outdoors, as well as traveling and practicing yoga.

Erik Peek

Erik Peek is an Investment Director directing origination, deal structuring, and management. Erik’s 30 years of deep experience in financial markets, particularly in Latin America where he is also certified by Brazil’s CVM, has helped him play a pivotal role since Sail’s inception. As the former CEO of Rabobank Brazil, Erik bolstered the agricultural sector by managing assets of $10 billion and his leadership extended to serving on boards like Banco Regional and the Forest Stewardship Council, and credit committees. Erik holds an MSc from Karlsruhe University and an MBA from IMD.

Off the clock, Erik is married and takes pride that his independent children are now making their own societal contributions.

Natalia Pasishnyk

Natalia Pasishnyk is the Sustainability Director at SAIL Investments with 18 years of sustainability experience. She has worked in Brazil as a consultant, supporting major corporations across a wide range of sectors including agriculture, forestry, mining, renewable energy, finance, and governmental bodies build responsible low carbon strategies and supply chains. Her sustainability focus began with climate mitigation projects in the Brazilian Amazon. Natalia, a trained scientist, earned her M.Sc. in Sustainable Forestry from the University of Freiburg, Germany.

Beyond work, Natalia enjoys travelling off-the-beaten-path, discovering cultures through cuisine and customs, and has a keen interest in artificial intelligence.

Gustavo Oubinha

Gustavo Oubinha is the Brazil Investment Director at SAIL Investments. Gustavo leads origination, deal structuring, and portfolio management, leveraging 25 years of financial market expertise. Certified by Brazil’s CVM, he previously enhanced Rabobank Brazil’s strategic initiatives as Managing Director, focusing on credit structuring and M&A, and has experience in complex investment transactions through his work at Banco InterAtlântico and Machado Meyer Advogados. Gustavo holds an LL.M. from the University of East Anglia as a Chevening Scholar. His further education in economics law from Fundação Getúlio Vargas is complemented by programs at Harvard, INSEAD, and Chicago Booth.

Off duty, Gustavo values family time, enjoying moments with his wife and two children.

Brett Mallen

Brett Mallen is the Chief Operating Officer at SAIL Investments and spearheads its financial, legal, and compliance capabilities. With over 20 years in investment management, he notably led as COO, and acting CEO, at Sanlam Africa Investments, focusing on private market funds and board leadership. Previously, he worked in Sanlam’s Private Equity team. Brett is admitted as an attorney in South Africa, holding an LL.M (Cum Laude) from Leiden University and a CFA Charter.

Brett prioritises family and fitness outside of the office. He spends his spare time on active holidays with his wife and two children (skiing being a firm favourite). Brett has recently discovered the 70.3 Ironman events and has competed in one event per year.

Adrian Lain

Adrian Lain is a Senior Sustainability Associate at SAIL Investments specialising in environmental, social, and governance (ESG) and Geographical Information Systems (GIS). He brings with him 11 years of international experience in research, certifications, and geospatial analysis in public and private environments, which builds on his career start as a research technician in the Norwegian Forest and Landscape Institute.

During off-hours, Adrian explores the world through music and aviation.

Vidya Iyer

Vidya Iyer is an Associate Director in the Investment team. She is responsible for investment research and analysis, transaction structuring and execution, leveraging her 11 years of experience in venture capital investments, corporate finance and equities investment valuation. Vidya started her career with Goldman Sachs as an analyst and spent time with J.P.Morgan. She has a Bachelor’s of Commerce from the University of Madras, is a Chartered Accountant from India and holds a M.Sc. in International Finance from the University of Amsterdam.

In her leisure time, Vidya enjoys exploring the Dutch landscape on her bike or in running shoes.

Johnny Brom

Johnny Brom is founder and Chief Investment Officer of SAIL Investments, where he also leads the Investment Committee. Johnny has a diverse background in business development and investment strategy for companies across South Africa, North America, and Europe. He started his career at JP Morgan Securities and held a role at a Cape Town-based boutique asset manager, accumulating over 17 years of investment experience in developed, emerging, and frontier markets. Prior to SAIL, Johnny initiated an innovative financing unit at the Dutch agency, IDH, pioneering early blended finance transactions in global supply chains. Johnny holds a Master’s in Finance from SOAS University of London, a PE specialisation from London Business School, and a Business Science degree from the University of Cape Town.

Johnny is known for his love of whiteboards, and sketching in his journal.