Procida Funding LLC, manager of the 100 Mile Fund, announced Thursday that Michael Arman has joined it as chief financial officer.
Arman, according to a news release, will oversee all accounting, tax, compliance, treasury, reporting, loan servicing and systems, and also serve as a liaison between lenders, participants and investment partners.
Arman has more than 20 years of experience in the real estate and finance industry, and his relationship with the fund’s founding principal, William Procida, is almost just as long.
“As is my custom, I rarely hire strangers,” Procida said in a prepared statement. “When picking a CFO, you definitely don’t hire a stranger. Knowing Mike for 15 years, I know his work ethic, integrity and knowledge are second to none. We are happy to have him.”
“I’ve known Billy for nearly 15 years and I’ve never seen him lose money,” Arman said in a prepared statement. “He and his team have a real acumen for real estate and rather than rushing to deploy capital when they have it, they select deals very carefully. That’s what produces results.”
Prior to joining Procida, Arman was the CFO for a fund manager with more than $3.5 billion in assets under management. Prior to that, he was vice president at Credit Suisse First Boston and a member of its Portfolio Bids Group. Before joining CSFB in 1998, he was a portfolio financial manager for the J.E. Robert Companies. Arman began his career in the audit group of Deloitte and Touche.
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