Mark Daly, Steve OConnell and Guido van der Ven, previously senior vice presidents in Sallie Maes corporate finance department, have formed their new company called Education Investment Group (EIG).
The three principals had 57 years of combined experience at Sallie Mae with specific expertise in investor development, modeling, structuring and executing ABS and ABCP backed by both U.S. government guaranteed and non-government guaranteed student loan assets.
EIG will focus on providing student loan specific modeling, structuring and analytical services to clients interested in underwriting, rating or investing in student loan ABS or ABCP. Additionally, EIG expects to provide investment management services to interested parties looking to invest in student loans and student loan ABS.
While at Sallie Mae, Daly focused on deal execution for the firms ABS issuance, which averaged $30 billion annually over the last five years. He also managed the student lender's ABCP programs and recently led the efforts to secure $34 billion of ABCP funding in February 2008. Daly joined Sallie Mae in 1992.
OConnell oversaw the modeling, structuring and data analysis for Sallie Maes ABS and ABCP programs. He also served as the student loan firms principal interface with the analytic and structuring groups at investment banks and the rating agencies. OConnell was also instrumental in the successful completion of the $34 billion ABCP program. He started with Sallie in 1985.
Van der Ven focused on all debt investor relations and capital markets regulatory relations for Sallie Mae. He was instrumental in winding down the former Student Loan Marketing Association, which was the Government Sponsored Enterprise which was dissolved in 2004 by broadening Sallie Maes debt investor base which facilitated the refinancing of agency debt with ABS and corporate unsecured debt. Van der Ven also managed the companys $225 million, fully funded, pension plan and other benefit-related investment portfolios. He started at Sallie Mae in 1989.
Education Investment Group will be headquartered in Herndon, Virginia with an additional office in Skaneateles, New York. For questions, contact van der Ven at 315 685-9825 or firstname.lastname@example.org.