Our Team

The Emet team possesses an exceptional combination of unique and complementary skills in Emet’s strategy. The team averages more than 15 years of experience and has successfully executed this investment strategy since 2012.

Paul Siegel

Managing Principal

Paul Siegel is Co-Founder and Managing Principal of Emet. He has spent his entire career in municipal finance, having acquired, issued, underwritten, and sold municipal securities secured by real estate assets. Mr. Siegel has more than 20 years of relevant experience in the municipal, special situations, and distressed asset investment arena.

Stefan Baugh


Stefan Baugh is Co-Founder, Principal, and Chief Compliance Officer of Emet. Mr. Baugh has more than 20 years of experience as a real estate and finance lawyer. Mr. Baugh has extensive experience in the acquisition, disposition, and financing of real estate projects with an emphasis on workouts and restructurings of distressed real estate assets, joint venture transactions, development and construction matters, structured real estate financings, commercial loan originations, asset servicing matters and loan syndications and participations. Prior to co-founding Emet, Mr. Baugh was a partner at Katten Muchin Rosenman LLP from 2006 – January 2012, where he represented private equity firms, developers, investment banks, commercial banks, and specialty finance/investment companies in real estate transactions. His clients included Fundamental, where he worked closely with Mr. Siegel.

Adam Towne

Chief Financial Officer

Adam Towne is the Chief Financial Officer of Emet. Mr. Towne joined Emet in May 2017 and brings more than 15 years of accounting, audit, and tax experience to the firm. His responsibilities at Emet include valuation, financial reporting, audit and tax support, internal control management, regulatory compliance support, investor relations, and the oversight of the firm’s accounting policies and procedures, as well as assistance with asset management. Adam serves as the primary liaison with the Fund’s administrators, auditors, and tax preparers.

Ron Zuvich


Ron Zuvich is a Director at Emet. Mr. Zuvich joined Emet in October 2015 and brings more than 15 years of capital markets, restructuring and municipal bond financing experience to the firm. His responsibilities at Emet include transaction sourcing and underwriting, valuation, development of exit strategies, and assistance with asset management.

Melissa Bernard


Melissa Bernard is a Director at Emet. Mrs. Bernard joined Emet in November 2018 and brings over 13 years of experience in multifamily real estate asset management and property operations, with a specialization in student housing. Her primary responsibilities at Emet include selecting and overseeing property management companies, evaluating underwriting assumptions, crafting, and executing asset repositioning plans, and optimizing property operations.

Ira Haynie

Senior Vice President

Ira Haynie is a Senior Vice President at Emet. Mr. Haynie joined Emet in September 2018 and brings over 20 years of experience in all areas of real estate asset management and debt financing, with an emphasis on distressed and special situation assets. His primary responsibilities at Emet include developing and executing turnaround strategies, asset analysis and reporting, optimizing property operations and capital improvement programs, liaising with portfolio lenders, and assisting with the underwriting of transactions.

Keith Kozak

Director, Portfolio Operations

Keith Kozak is the Director of Portfolio Operations at Emet. Mr. Kozak joined Emet in February 2016 and is responsible for managing all of Emet’s capital improvement initiatives, lease-up/rehabilitation operations, asset optimization plans, and ongoing property operations.

Mark Grimm

Vice President

Mark Grimm is a Vice President at Emet. Mr. Grimm joined Emet full-time in September 2018 after providing third-party construction accounting and analytical support to Emet’s asset management team since 2017. Mr. Grimm has extensive experience as an accountant and financial analyst in several industries, including the acquisition, construction and/or rehabilitation of multifamily real estate, and Federal, state, and local government contracting. Mr. Grimm’s primary responsibilities at Emet include capital expenditure forecasting, tracking, and budgeting, construction accounting, construction draw review and processing, property financial statement review and analysis, asset management reporting, and assisting with the development and implementation of capital improvement plans. In addition, Mr. Grimm provides accounting and analytical support to Emet’s Chief Financial Officer.

Abraham Nissim

Vice President

Abraham Nissim is a Vice President at Emet. Mr. Nissim joined Emet in February 2012 as an analyst, and has worked directly with the firm principals on all aspects of Emet’s business. Mr. Nissim’s primary responsibilities include participating in the sourcing and underwriting of transactions, assisting with the firm’s asset management functions, investor reporting, and market research.

Jonathan Sessa, CFA, CPA

Vice President

Jonathan Sessa is a Vice President at Emet. Mr. Sessa joined Emet in May 2019. His primary responsibilities include participating in transaction sourcing and underwriting, development of exit strategies, market research, and assisting with the firm’s asset management and reporting functions.

Bonnie Halbfinger

Administrative Associate

Bonnie Halbfinger is an Administrative Associate at Emet. Ms. Halbfinger joined Emet in September 2020. Prior to joining Emet, she worked in the Missions department at UJA-Federation of New York, and previously worked at Tannenbaum Helpern Syracuse and Hirschtritt LLP. Ms. Halbfinger brings 9 years of administrative experience to her role at Emet, where she oversees daily operations as well as assists with the firm’s various philanthropic initiatives. Ms. Halbfinger graduated from Columbia University with a degree in Human Rights and is on the Legacy Council at the New-York Historical Society.