SENIOR EXECUTIVE TEAM
Daniel Kodsi   |   Managing Principal | CEO
Daniel Kodsi is a real estate veteran who has successfully developed or repositioned over 6,000 units across mixed-use developments, multi-family, residential communities, and hospitality assets. Kodsi is CEO of PARTICIPANT Capital Advisors and Royal Palm Companies, a Miami-based development firm established in the 1970s, and the visionary behind PARAMOUNT Branded Developments, one of the leading luxury real estate brands in Florida. With close to $2 billion returned to investors and lenders, he brings a proven track record of identifying underserved market opportunities, executing complex large-scale projects, and generating value for private and institutional investors. Kodsi has been consistently credited with defining new neighborhoods and development trends and is regarded as an industry leader. Some of his most notable projects include the signature PARAMOUNT Miami Worldcenter, West Palm Beach’s Esplanade Grande, and PARAMOUNT Bay in Miami’s Edgewater neighborhood. Kodsi’s projects have attracted buyers from more than 50 different countries along with the leading financial and development partners in the global property market. Kodsi is a licensed general contractor and holds a BSBA in Real Estate Finance and a minor in Urban Planning and Architecture from the University of Miami.
Sergio Moises   |   Chief Investment Officer
Sergio Moises is the Chief Investment Officer of PARTICIPANT Capital Advisors and the Chief Financial Officer of Royal Palm Companies. He brings close to 20 years of experience in real estate including acquisition, development, management, and repositioning of more than 8,000 units across the United States. Moises has extensive expertise in financial modeling, cash flow forecasting, acquisitions, due diligence, financing, asset management, and financial reporting. From 2004 to 2011, Moises worked as an associate at J.I. Kislak and managed a portfolio of 4,000 multi-family units and participated on the acquisition and repositioning of 1,300 distressed multi-family and student housing units. In addition, he purchased $63 million (12,000+) in tax lien certificates for the state of Florida. In 2011, Moises joined Royal Palm Companies (RPC) and oversaw all operations in the repositioning of more than 800 non-performing mortgages and 1,500 single-family rentals across the South-East of the United States. More recently, Moises, has been responsible for the financial oversight of approximately $1B in ground-up development projects. Moises holds a Master’s in Finance from Florida International University and a degree in Business Administration from Universidad del Norte in Barranquilla, Colombia.
SENIOR DEVELOPMENT TEAM
Peggy Fucci   |   Managing Director : Sales & Marketing
Peggy Fucci, an acclaimed real estate strategist and sales and marketing expert for almost 20 years, brings expertise to the luxury real estate industry. She is president and CEO of OneWorld Properties, exclusive sales and marketing agent for PARAMOUNT Branded Developmemnts, 100 Las Olas, and Brickell Ten. In recent years, OneWorld Properties has sold and closed over 2,500 preconstruction units generating $3 billion in sales. Fucci began her real estate career with WCI Communities, at the time the largest publicly traded hospitality, residential and amenity developer in Florida. She started OneWorld Properties in 2008 with the goal of creating a new kind of brokerage with honesty, drive, and enthusiasm that would deliver fresh and innovative ideas during the time of the failed real estate market. OneWorld Properties worked on some of the most successful brands in Real Estate, including Plaza at Oceanside, Artécity on Miami Beach, and Dolcevita on Singer Island. Starting in 2010, OneWorld Properties sold over 10,000 units accounting for $4 billion over three years for ST Residential’s nationwide portfolio including PARAMOUNT Bay in Miami. Fucci specializes in attracting international investors to the U.S. real estate market.
Steven Goldfarb   |   Senior Managing Director
Steven Goldfarb has been employed by Royal Palm Companies and its affiliates since February 1993, during which time he has served as Corporate Controller, Vice President of Finance, Project Manager, and most recently as the President of the West Coast of Florida Division. In his tenure, Goldfarb has been responsible for the acquisition, entitlement, development, and operations of projects consisting of rental and sales of primarily multi-family projects. During his tenure as President, Goldfarb developed over 1,500 multi-family units, creating Branded Communities, positioned property management communities, sales, and marketing operations. These would include Villagio, Gardens at Bonita, and most recently Estero Oaks in Southwest Florida. Before joining the company, Goldfarb has had a well seasoned and varied background including positions with a major big six accounting firm and positions that took him to Israel and the Bahamas. Goldfarb is a graduate of Long Island University with degrees in accounting and finance and obtained a Master’s Degree from Barry University.
Steven Coren   |   Director of Design & Architecture
Steven Coren, a registered architect for 35 years, has served as Director of Design for Royal Palm Companies for nearly half that time. Heading up the creative end of the real estate development process, he takes the conceptual lead in feasibility analysis, site planning and associated landscape architecture, architectural design and interior design, including programming, overall building space planning, residential unit distribution and floor plan layout, the specification of fixtures, furnishings, and equipment, and material and finish selection. Coren has been instrumental in the initiation and production of innovative and imaginative multi-use ventures ranging from neo-urban low-rise apartment communities to state-of-the-art luxury high-rise condominium towers from 45 to 60 stories, balancing cutting-edge aesthetics, advanced technology, livability, sustainability, and efficiency. Previously, Coren served as Director of Design for three large architectural firms based in Philadelphia, Kansas City, and Cleveland, where he was involved in the conceptualization, land planning, and design management of a diverse array of projects. Coren graduated from Temple University with a Bachelor of Arts in Fine Arts and Design, holds a professional Bachelor of Architecture from Syracuse University, and is certified by the National Council of Architecture Registration Boards.
U.S. DISTRIBUTION
Brian Conneely   |   Managing Director: Head of External Sales
Brian Conneely serves as Managing Director, Head of External Sales for the Investment Manager. Mr. Conneely is responsible for the execution of the Partnership’s sales efforts through various broker-dealer partners. He is also involved in all aspects of product development, marketing strategies, and developing operational systems. Mr. Conneely brings almost 20 years’ experience in the financial services industry with a deep background in alternative investment strategies. Previously Mr. Conneely served as First Vice President at W.P. Carey where he was part of a team that launched multiple non-traded REITs, non-traded business development companies and private placement funds. He brings a deep background of experience serving in senior sales positions for other leading companies such as Transamerica, Rydex Investments (now a part of Guggenheim Investments), Sun Life, and Allstate Financial.

Mr. Conneely holds his Certified Investment Management Analyst (CIMA®) designation from The Wharton School at the University of Pennsylvania and a BBA from Hofstra University. He holds his FINRA Securities Licenses Series 7, 63, and 65.
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Important Information

This document does not constitute an offer to sell or solicitation of an offer to buy securities. Any such offer will be made only by means of the Private Placement Memorandum (“PPM”) of the Participant Capital Fund I, L.P. (the “Partnership”), and will be subject to the terms and conditions contained therein. Please refer to the PPM for a detailed discussion of the fees, terms and risks associated with an investment in the Partner- ship. Interests in the Partnership are offered only pursuant to the terms of the PPM.

Investing in the Partnership involves significant risks not associated with other investment vehicles and is suitable only for persons of adequate financial means who have no need for liquidity. There can be no assurances or guarantees that: (i) the Partnership’s investment strategy will prove successful, or (ii) investors will not lose all or a portion of their investment in the Partnership.

There is no secondary market in Interests and none is expected to develop. Interests may not be transferred or resold and an investor does not have a right to redeem Interests except as permitted only with the written consent of the General Partner and under applicable federal and state securities laws. Investors should be aware that they will be required to bear the financial risks of this investment for the entire term of the Partnership, which is a minimum of five years with the option to renew twice for 1yr intervals.

An investor should consider the Partnership as a supplement to an overall investment program and should only invest if willing to undertake the risks involved. Investors who are subject to income tax should be aware that an investment in the Partnership is likely (if the Partnership is successful) to create taxable income or tax liabilities in excess of cash distributions to pay such liabilities.

There is no guarantee of future performance. The Partnership has no previous operating history and will be entirely dependent on the abilities of the General Partner and Manager. There can be no assurance that either investment-level or Partnership-level targeted returns will be realized or that periodic distributions will be made.

The Fund’s Investments will be subject to the risks inherent in investments in and / or ownership in real estate assets. These risks include, but are not limited to, the burdens of ownership of real property, adverse changes to general and local economic conditions, the supply and demand for properties, fluctuations in occupancy and rates, the financial resources of tenants, changes in environmental and other laws and other variables as outlined in the PPM. The Partnership’s investments may also be adversely affected if the property managers employed by the Partnership perform inadequately or are not adequately supervised by the Partnership.

Because the Partnership may participate in a limited number of Investments, the aggregate Partnership returns may be adversely affected by the unfavorable performance of even a single Investment. In addition, the diversification of the Partnership’s Investments could be even further limited to the extent the Partnership invests a significant portion of its capital in a transaction and is unsuccessful in selling of that Investment. The real estate market can be relatively illiquid at times, which may limit the ability of the Partnership to sell of an asset.