Phil Groves is DAC’s Founder and President who supervises all aspects of DAC’s operations. Mr. Groves chairs DAC’s investment team and leads the firm’s overall strategy. Through DAC, he also founded China-based Gao Fei in 2005 and serves as its Chairman and Legal Representative. Prior to founding DAC in 2002, Mr. Groves worked for myCFO, Inc. and Arthur Andersen LLP. At myCFO, he was the Managing Director of the firm’s strategic advisory services and directed its involvement in Asian distressed asset investments. In 2001, Mr. Groves represented and co-invested with the first foreign investors to manage and service a portfolio of China’s non-performing loans (NPLs) and then repatriate cash from China through the successful resolution of the NPLs. Mr. Groves received his BS from Boston College, MBA from Notre Dame, and is a Certified Public Accountant. He has more than 16 years of experience in China.
Paul Austin is Executive Vice President and General Counsel based in Hong Kong who also helps oversee the firm’s risk controls. Prior to joining DAC in 2014, Mr. Austin practiced corporate law with Wachtell Lipton Rosen & Katz. He also served as the Head of Strategic Development and Co-Managing Director of AGCO International GMBH’s Africa and Middle Eastern operations. Mr. Austin received his BA from Williams College and his JD from Yale Law School. He has lived and worked in developing economies for nearly 20 years and has 3 years of investment experience in China.
Wei Chen is Finance Manager of Gao Fei based in Beijing. Prior to joining Gao Fei in 2006, Mrs. Chen served as finance manager for United Automobile Association Co. Ltd. and AutoChina Network Technology (Beijing) Co., Ltd. (the predecessor to CAR Inc.). She received her BS from Guilin University of Electronic Technology and her MS from Beihang University. Mrs. Chen has more than 25 years of accounting and tax experience in China and is fluent in Mandarin Chinese.
John Dilatush is DAC’s Chief Investment Officer. Prior to joining DAC in 2016, Mr. Dilatush was a Portfolio Manager for global financial services at Guggenheim Partners LLC in New York, NY. Before Guggenheim, he held the same role at Citadel LLC in Chicago, IL, which involved extensive coverage of global banks and banking regulators. Mr. Dilatush also served as a Partner and Head of the Global Financial Sector at Partner Funds in San Francisco, CA, where he invested across the capital structure in private and listed securities. He began his career with Lehman Brothers in New York, NY. Mr. Dilatush received his BA from Boston College and MBA from Columbia Business School. He has more than 25 years of experience covering global financial institutions across the capital structure.
Golf Gao is General Manager of Gao Fei’s Guangzhou Office. Prior to joining Gao Fei in 2006, Mr. Gao worked for China Great Wall Asset Management Corporation’s Guangzhou Office (GW AMC) as Legal Counselor. Before GW AMC, he served in a similar role at Bank of China’s Huizhou Branch where he focused on NPLs. Mr. Gao received his LLB from Nankai University and his LLM from China University of Political Science and Law. He has more than 18 years of legal and investment experience in China and is fluent in Mandarin Chinese, Cantonese, and English.
Hugh Holmes is DAC’s Head of Real Estate based in Hong Kong. Prior to joining DAC in 2005, Mr. Holmes founded Hotel Investment Partners Limited (HIPL) in 2001. Before founding HIPL, he was Vice President, Development and Project Finance, for Hilton International, a multi-branded hotel conglomerate, for the Asia Pacific region. Prior to Hilton, Mr. Holmes held a similar position for Holiday Inn Worldwide (currently InterContinental Hotel Group). During his tenure with these international operators, he completed over 50 hotel transactions involving loans, credit support arrangements, convertible debt agreements, investments, and joint ventures as a critical part of the underlying contractual obligations. Mr. Holmes also has extensive experience in hotel operations having served as Vice President of Operations at both Hilton and Holiday Inn at various times, managing operations in Indonesia, Philippines, Taiwan, and China. He received his BA in East Asian Studies from Harvard College (magna cum laude), MS in Asian Economics from Harvard University, and MBA from Harvard Business School. Mr. Holmes has more than 25 years of investment experience in Asia and is fluent in Mandarin Chinese.
Paul Kossof is Vice President and Legal Counsel of Gao Fei based in Beijing. Prior to joining Gao Fei in 2016, Mr. Kossof was a legal consultant for Zhong Lun Law Firm in Beijing advising on cross-border investment projects. He received his BA from Villanova University and his JD and LLM degrees from The John Marshall Law School. Mr. Kossof has more than five years of legal and investment experience in China and is fluent in Mandarin Chinese, English, Spanish, and Italian.
Lipu Li is Legal Counsel of Gao Fei based in Beijing. Prior to joining Gao Fei in 2005, Ms. Li worked as an attorney with Beijing Guotao Law Firm, Beijing Zhicheng Law Firm, and Beijing Sanxin Law Firm. In parallel with her role at Gao Fei, she also has been a Partner at Beijing Minggeng Law Firm since 2006. Ms. Li received her LLB from China University of Political Science and Law. She has more than 18 years of legal and investment experience in China and is fluent in Mandarin Chinese.
David Madden is DAC’s Chief Risk Officer based in Hong Kong. Prior to joining DAC in 2003, he was a principal at the J-1 Fund, an equity hedge fund. Mr. Madden also founded a Hong Kong-based software company and internet service provider in 1999. Between 1994 and 1999, he worked for Dresdner RCM Global Investors (previously known as Thornton Fund Management) in London and Hong Kong. Mr. Madden received his AB from Princeton University. He has more than 20 years of investment experience in China.
Rob Stephens is Vice President of DAC. Prior to joining DAC in 2013, Mr. Stephens was an investment research analyst for Intelligence Macau in Hong Kong covering Macau’s gaming industry. He received his BA from the University of Virginia and his MS from its McIntire School of Commerce. Mr. Stephens has more than seven years of investment experience in China.
Clement Sun is a Portfolio Manager based in Hong Kong who oversees DAC’s investments in southern China. Prior to joining DAC in 2003, Mr. Sun worked in structured finance at HVB Bank in New York and in the securities industry in California. He received his BS from the University of California, Berkeley, and his MBA from the Marshall School of Business at the University of Southern California. Mr. Sun has more than 14 years of investment experience in China and is fluent in English and Mandarin Chinese.
Mingyu Wu is Vice President of Gao Fei based in Beijing where he is responsible for Gao Fei’s investment-related operations in northern and eastern China. Prior to joining Gao Fei in 2007, he was a licensed lawyer with Dacheng Law Offices in Changchun. Mr. Wu received his JM degree from Jilin University in China. He has more than 11 years of legal and investment experience in China and is fluent in Mandarin Chinese and English.
Edward Zhou is a Portfolio Manager based in Hong Kong who oversees DAC’s investments in eastern China. Prior to joining DAC in 2003, Mr. Zhou worked for GE Capital as a manager in Global Risk Management in Stamford, CT. Before GE, he worked for Mitsubishi Trust in Tokyo, Japan. Mr. Zhou received his BA from Jilin University in China, his MA from Hitotsubashi University in Japan, and his MBA from the Tuck School of Business at Dartmouth College. He has more than 14 years of investment experience in China and is fluent in Mandarin Chinese, Japanese, and English.