IPA Names 10 New Board Members, Honors Annual Award Recipients

The Institute for Portfolio Alternatives, an advocacy organization for the illiquid alternative  investment industry, both announced its board of directors for 2025 and honored the recipients of its annual outstanding service, DEI leadership, and chair recognition awards.

IPA’s 10 newly elected board members will join IPA’s continuing 21 members and will serve a three-year term, beginning on Jan. 1, 2025.

In addition to naming the new directors, the board also elected Jason Goode as chair-elect in 2025. Goode currently serves as a partner at Alston & Bird LLP. Bill Duffy, vice president of alternative investments at Fidelity Investments, will lead the board as chair in 2025.

“As we look forward to the year ahead, I am excited to collaborate with this outstanding board of directors to advance policies that drive innovation and growth in the alternative investment industry, while promoting expanded opportunities for investors,” said Anya Coverman, president and chief executive officer of IPA. “Our newly elected directors represent some of the leading firms throughout this growing and vibrant financial sector, and we look forward to having their perspectives on the IPA’s board of directors.”

Newly elected members of the 2025 IPA Board of Directors are:

• Robert Bergdolt, DLA Piper
• John Carter, Edward Jones
• Alice Connaughton, Morrison & Foerster
• Emily Conte, Cohen & Steers
• Mark Earley, Hines Private Wealth Solutions
• Liz Jones, Ares Wealth Management Solutions
• Chad LaFauci, Commonwealth Financial Network
• George Stephan, Franklin Templeton Alternative Investments
• Mark Sutterlin, Bank of America Merrill Lynch
• Leon Volchyok, Blackstone

Continuing board members include:

• Brendan Cuddihy, CAIS
• Daniel Cullen, Baker & McKenzie LLP
• Michael Ezzell, Inland Securities Corporation
• Angie Fisher, Core Spaces Chicago
• Jay Frank, Cantor Fitzgerald Asset Management
• James Hannigan, Apollo Global Management
• Michael Keough, iCapital
• Dennis Martin, PGIM Real Estate
• John McCarthy, Starwood Real Estate
• Patrick McGowan, Sanctuary Wealth
• Paul Mumma, Ameriprise Financial
• Scott Napier, JP Morgan Global Alternatives
• Alison Nest, Morgan Stanley
• Brian Ruben, Deloitte & Touche LLP
• Peter Schaffer, Avantax Wealth Management
• Justin Schwartz, DTCC
• Michael Sealy, Sealy & Company
• Chris Shaw, SS&C Technologies
• Dallas Whitaker, Carter Exchange
• Patrick Willis, Blue Owl
• Kate Winters, LPL Financial

IPA also announced the recipients of its 2024 awards, recognizing the contributions of individuals who have demonstrated leadership, innovation, and dedication to advancing the alternative investments industry. The awardees were held at IPAVision 2024 in Orlando, Fla.

“The IPA Awards allow us to recognize individuals who have dedicated their careers to pushing the alternatives industry forward,” said Coverman. “Their contributions have not only supported the IPA’s growth but also reflect the outstanding caliber of individuals within our vibrant community.”

The Outstanding Service Awards honor individuals who have made tremendous contributions to the IPA and the industry over the past year. The recipients were: 

• Brendan Cuddihy, chief operating officer at CAIS, who “has been instrumental in transforming the IPA’s technology and operational initiatives. As chair of the technology, innovations, and operations committee and a member of the IPA board, Cuddihy has spearheaded key projects, including developing critical industry white papers.”
• Jillian Fitzpatrick, managing director of government relations at Blackstone, who “has been a long-standing contributor to the IPA’s advocacy, political, and data initiatives. With her background on Capitol Hill, Fitzpatrick has expertly guided IPA’s policy efforts, dedicating time to research, white papers, coalitions, and lobbying activities.”
• James Linhardt, attorney at Kunzman & Bollinger, was “recognized for regularly providing invaluable legal and compliance expertise to the IPA’s policy and regulatory initiatives. As chair of the IPA’s compliance and due diligence committee, he has built some of the most effective working groups within the committee and the organization.”
• Brad Sussman, vice president of alternative investments, product development, and research at Raymond James, who “has championed many initiatives for IPA distribution partners and leads the IPA’s popular distribution partner roundtables. As an IPA board member, Sussman has been instrumental in identifying key business, legal, and operational topics, while also playing a significant role in expanding IPA’s membership.”

The DEI Leadership Award recognizes individuals who have made significant strides in advancing diversity, equity, and inclusion within their organizations and the broader industry. The IPA presented the 2024 award to Margo Steahly, senior vice president of sales operations and due diligence at Trilogy Real Estate Group. According to IPA, Steahly’s dedication to advancing diversity and inclusion is evident in her role as chair of the IPA’s diversity and sustainability committee. She has been a vocal advocate for IPA’s DEI resource library, its growing mentorship program, and impactful webinars promoting diversity education.

IPA chair recognition recognized Chirag Bhavsar, IPA chair and co-CEO of CNL Financial Group, for his leadership and contribution to IPA. CNL is one of IPA’s longest-serving members, according to IPA, which made it “especially poignant for Bhavsar to serve as chair this year. Bhavsar has been a steadfast supporter of the organization and a passionate advocate for the industry’s growth.”

The Institute for Portfolio Alternatives serves as a leading industry voice for alternative investments, including private real estate, private credit, private equity, infrastructure, and other alternative assets.

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