Rajat is co-founder of Adaptive and brings a wealth of credit investment experience built from his years at Lehman Brothers, UBS, CVC Credit Partners & Dresdner Kleinwort where he was managing, structuring and trading complex securitized products. More recently, he is board member and advisor to a credit fund in the UK.
Rajat is a Chartered Accountant and completed his Masters from University of Cambridge and has a Bachelor’s degree from the University of Toronto.
Dan Nalawade is co-founder of Adaptive and brings over 40 years of global experience across equipment finance, asset-backed lending, capital markets, and business transformation.
Dan spent more than two decades at GE and GE Capital, holding multiple C-suite leadership roles across Asia, Europe, and the Americas. His roles included CEO of Asia & Pacific for GE Transportation Finance and CEO of GE Equipment Services Asia. He also served on GE Capital’s Investment Committee, with direct responsibility for capital allocation, asset risk, and portfolio strategy. Earlier in his career, Dan worked at Lehman Brothers in the Fixed Income Group.
Dan brings deep expertise in asset-backed finance, leasing platforms and cross-border structuring.
He holds degrees in Law (LLB), Business (MBA, M.Com), and Theology (MA), is a Certified Public Accountant (CPA) and is a U.S. patent holder from his work at GE. Dan is also FINRA-registered, holding the SIE, Series 7, and Series 63 licenses.
Sid Kaul is a senior risk executive with over 25 years of experience in equipment finance, asset-backed lending, and portfolio risk management across North America and global markets. He previously served as Chief Risk Officer of GE Capital Canada and as Senior Vice President of Risk at GE Capital, where he led enterprise-wide credit, asset, and portfolio risk oversight across multiple leasing and equipment finance platforms. Sid brings deep expertise in underwriting discipline, residual value risk, portfolio analytics, regulatory engagement, and governance, with a proven ability to manage risk through multiple credit cycles while enabling sustainable growth.
Sid holds an MBA in Finance from Duke University and a Bachelor’s degree in Economics from St. Stephen's College, Delhi.
Dick is the Founder and CEO of Matrix Private Capital Group and is strategic advisor to Adaptive Capital. He is responsible for guiding the firm’s strategy and operations in addition to advising clients and portfolio companies’ senior management teams in developing and implementing corporate strategies. Dick is the former Chairman of the Board of Directors and Chief Executive Officer of Lehman Brothers. He previously served as a member of the Business Council, the International Business Council of the World Economic Forum, the Board of Governors of the New York Stock Exchange, the Board of Directors of the Federal Reserve Bank of New York and currently serves on the Board of Trustees of New York Presbyterian Hospital. Dick received his B.A. from the University of Colorado and his M.B.A. from the New York University Stern School of Business.