Team OLD | Lapis Advisers

Our Team

Frank Chavez

Chief Financial Officer and Chief Compliance Officer

Kjerstin Hatch

Mrs. Hatch is the Founder and a Managing Principal of Lapis Advisers and has focused her career in special situation securities. She has served as a portfolio manager and acquisitions specialist in alternative investments for over twenty five years, managing over a thousand investments in municipal bonds, illiquid real estate and over 150 distressed and bankrupt companies totaling well in excess of $1 billion. Over her long career she has a proven track record of underwriting and managing special situation and distressed investments often through creative win-win solutions. Mrs. Hatch earned a Bachelor of Arts degree in the Political Economy of Industrialized Societies from the University of California, Berkeley and is a member of the National Federation of Municipal Analysts, 100 Women in Hedge Funds, the American Bankruptcy Institute and is a frequent speaker and media contributor on the topic of specialized securities.

Basia Terrell

Mrs. Terrell is responsible for sourcing and managing special situation investments both through secondary purchases, as well as, primary underwriting with emphasis on healthcare, hospitality and senior living assets. During the past twelve years with Lapis, Mrs. Terrell negotiated, restructured and/or managed a wide array of municipal bond work-out situations. Prior to joining Lapis, she has built an extensive experience with analyzing and investing in distressed situations, mezzanine loans and equity securities. Mrs. Terrell was part of a small team that built a $3 billion credit portfolio at Och Ziff Capital Management in London, served as Vice President of the Proprietary Investing Desk of Merrill Lynch, and worked in the Restructuring Group at Houlihan Lokey in Toronto and London. Mrs. Terrell graduated with an honors degree in Finance from the University of British Columbia, Canada and holds the Chartered Financial Analyst® designation.

Jared Grigg

Jared Grigg is a Managing Director with Lapis Advisers. Mr. Grigg is primarily responsible for originating, structuring, underwriting and monitoring direct lending investments for the firm. Prior to Lapis, Mr. Grigg was a founding member of the direct lending strategy at Comvest Partners which he successfully developed and grew over an eight year period. Mr. Grigg began his career on Wall Street and completed over $25 billion in acquisition financings for private equity leveraged buyouts over a ten year period while at UBS and Deutsche Bank. Mr. Grigg earned a Bachelor of Arts degree in Economics from Carleton College.

Joe Landen

Mr. Landen is a Managing Director with Lapis Advisers. He is responsible for underwriting and managing distressed senior and junior debt, mezzanine loans, and municipal securities. Mr. Landen’s previous experience includes providing a variety of financial advisory services to debtors and creditors as a Director with FTI Consulting, underwriting and managing distressed debt investments as a Portfolio Director with Madison Capital Management, and performing business valuations with Willamette Management Associates. Mr. Landen earned a Bachelor of Business Administration with an Accounting Concentration degree from Roanoke College and a Masters of Science in Accounting degree from the University of Virginia. Mr. Landen holds the Chartered Financial Analyst® designation.

Cody Noll

Cody Noll is a Managing Director with Lapis Advisers. Mr. Noll is primarily responsible for the sourcing, underwriting, and execution of direct lending and municipal security origination investment opportunities, as well as other special situation investments. Prior to joining Lapis, Mr. Noll was a Director at Fundamental Advisors, a New York based municipal-focused alternative investment manager. While at Fundamental, Mr. Noll served as a senior member of the investment team responsible for the sourcing, underwriting, execution, and ongoing asset management of municipal-related investments across numerous sectors. Mr. Noll has also previously held senior alternative investment management roles at SBZ Select Investments and Madison Capital Management. Mr. Noll earned a Bachelor of Science degree in Finance & Accounting from the University of Colorado at Denver.

Frank Chavez

Mr. Chavez is Chief Financial Officer and Chief Compliance Officer of Lapis Advisers. As Chief Financial Officer, Mr. Chavez is responsible for all financial operations, treasury functions and investor reporting. As Chief Compliance Officer, Mr. Chavez is responsible for ensuring Lapis Advisers complies with all external regulatory requirements and internal policies. Prior to joining Lapis, Mr. Chavez spent seven years at GIC (formerly known as Government of Singapore Investment Corporation), a sovereign wealth fund established by the government of Singapore, where he served as Vice-President and Regional Portfolio Controller responsible for overseeing financial operations, treasury, financial control and reporting functions. Prior to GIC, Mr. Chavez served in a number of accounting and finance roles at Conifer Securities, Colony Capital and Great West Capital Management. Mr. Chavez earned a Bachelor of Arts degree with a concentration in Accounting from The College of Santa Fe and a Masters of Business Administration with a concentration in Finance from the University of Denver.

Kathy Araneta-Delfin

Mrs. Araneta-Delfin handles operations and compliance for Lapis Advisers. She has over ten years of experience in compliance and operations in the financial services industry. Mrs. Araneta-Delfin previously worked for Citigroup and B. Riley & Co. Kathy graduated from the University of California at Berkeley.