Financial Advisory and Capital Markets Services for the Equipment Leasing and Finance Industry Since 2004

Fairfield Capital

Learn About Fairfield Capital Our Services


Since 2004, Fairfield Capital Group, LLC has provided financial advisory, and capital markets services to two segments of the equipment leasing and finance marketplace:

  • middle-market and highly-leveraged companies (Issuers), and
  • small and mid-sized equipment finance and leasing companies (Investors).

For Issuers, these services are usually in support of raising debt or lease capital to finance the acquisition of revenue-generating equipment. Fairfield Capital’s services enable an Issuer to reduce its cost of capital by:

  • structuring more creative and aggressively-structured term sheets;
  • attracting a greater number, and more diverse types, of new funding sources;
  • providing a sophisticated evaluation of financing proposals with respect to both economic and non-economic terms and conditions; and
  • offering advice in complex document negotiations.

For Investors, Fairfield Capital provides syndication services which

  • enable an Investor to either add a syndication capability, or augment and improve an existing one, and
  • may include the financing of new or existing equipment finance and lease portfolios with limited or non- recourse (in the case of securitization structures) structures.





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Fairfield Capital can enable your company to “get a better deal” when you are raising debt or lease capital through the judicious design of your term sheet, the careful selection of new and different types of bidders, and the aggressive negotiation of important document provisions that only years of experience can provide.


With decades of experience in sales and sales management, we know every structural technique employed by equipment finance companies to compete for your business or enhance their returns. We can incorporate features in your term sheet to make sure you are receiving the benefit of the lowest-cost structures currently available in the market.

New and More Competitive Sources of Funding

New and different types of Investors (bank-affiliated, commercial and community banks, commercial finance companies, hedge funds, income funds, insurance companies, insurance company affiliates, private investment funds, etc.) are constantly entering and exiting the market depending on their liquidity, need for investment, and alternate forms of investment. Different Investors have different investment parameters depending on the credit strength of the issuer and the collateral type. We know the Investors best suited to provide a highly-competitive package for the specific attributes of your financing.


The negotiability of various terms and conditions ebbs and flows depending on the supply/demand conditions of the equipment finance market at any given time. We make sure the documents reflect the deal you negotiated in the term sheet and aggressively represent your interests.



Fairfield Capital’s Investor services are especially useful for small and mid-size leasing companies that have increasing needs for portfolio liquidity but do not as yet have the resources to support the fixed-cost of the capital markets capability they require and can benefit from the advice of experienced capital markets professionals.


Syndicated Transactions

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Syndication Capability

A growing equipment finance company has increasing demands for liquidity, and hence syndication capabilities, for many reasons—to:

  • Manage exposures
    • Credit
    • Collateral
  • Manage liquidity
    • Generate cash for reinvestment
    • Accelerate income in the form of fees and gains on sale
  • Manage tax base in the case of true leases
  • Manage customer relationships where incremental business would:
    • be too large;
    • not fit your market or equipment niche;
    • require returns below your hurdle rate; or
    • be a transaction you want to bid for a third party.

Fairfield Capital provides an Investor with the ability to offer sophisticated syndication capabilities, or add to those it already has, without having to incur the high fixed cost of adding to its permanent staff. We enable you to “outsource” all or some of your syndication requirements at a fraction of the cost by working on a success fee basis. We give your business and staff the benefit of our market knowledge gained from many years of servicing a diverse client base and interacting with numerous institutional investors.


Portfolio Financing

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Portfolio Financing

Fairfield Capital has experiencing in recourse and non-resource financing of equipment lease and loan portfolios as small as $5 million and as large as $100+ million.

In the case of smaller portfolios that are structured with limited recourse or with limited guarantees of the seller, or holdbacks, additional collateral, etc., these transactions can be handled as an offshoot of our normal syndications services.

For larger portfolios ($50+ million) or portfolio securitizations, we assemble a team of our partners, specialized attorneys, trustees and placement agents to execute a strategy for the financing. We work closely with an Investor’s asset management, billing and collections, operations and underwriting staff to make sure we understand how you originate and document your transactions and to make sure that the resulting financing will be something that you can administer without unduly disturbing your existing business model. We will analyze your portfolio, recommend structural alternatives, and assist in the placement of the resulting securities to secure the lowest-cost financing alternative available in the market for your portfolio mix.


Representative Clients

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Due to the confidential and proprietary nature of its engagements, Fairfield Capital is unable to provide a full summary of its client relationships in this forum. We can, however, for pending engagements and upon request, provide specific references which we clear in advance with existing clients. Below we list three representative engagements which provide an idea of the type of services that Fairfield Capital has provided clients

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Fifth Third Equipment Finance, Cincinnati, Ohio

Fifth Third Equipment Finance Company (FTEF) is a leading provider of lease and loan products for many different industries.  The FTEF team has built a $6.4 billion portfolio and a client base that extends throughout all 50 states. A subsidiary of Fifth Third’s Commercial Bank, FTEF is among the top 10 bank-affiliated equipment finance companies in the country.

Due to the serious and unexpected illness of a senior capital markets executive in mid 2008, FTEF found itself short-handed and unable to hire a replacement due to a hiring freeze. Fairfield Capital was able to provide temporary capital markets support on a contract basis over an 18-month period until the ailing executive recovered and returned to work.  Fairfield Capital enabled FTEF to fully support its new business development efforts during this difficult period and also achieve the fee income goals previously set for its capital markets group.




LS Power Group, New  York, New York

Founded in 1990, LS Power (LSP) is an employee-owned, independent power company with offices in New York, New Jersey, Missouri and California. LSP is a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States. Since its inception, LSP has developed, constructed, managed or acquired more than 31,000 MW of competitive power generation and 470 miles of transmission infrastructure, for which it has raised over $29 billion in debt and equity financing.

In May 2007, LSP retained Fairfield Capital to advise it with respect to the purchase of equity investments in leveraged leases of nuclear power generating facilities originally placed in service in the late 1980’s.  Fairfield Capital found over a dozen and a half institutional investors that were the original equity investors in these facilities, and identified several equity interests that were being, or about to be, offered for sale in the secondary market.  We assisted LSP in their economic and document review of these transactions and even managed to locate and engage as special counsel the retired former tax partner of a major New York law firm who had drafted the original documents over twenty years earlier!

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Plug Power Inc., Latham, New York

Plug Power Inc. (PPI) is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the industrial off-road (forklift or material handling) market and the stationary power market.  Hydrogen fuel cells offer the potential for a clean and reliable alternative energy source regardless of the application. This diversity positions the industry as a key contributor to creating an increasingly sustainable landscape for reliable power generation on a broad scale.

Through an electrochemical reaction, fuel cells convert hydrogen fuel into power. Unlike toxic batteries, which have limited stored energy, fuel cells run continuously as long as fuel is provided. And, using hydrogen as the primary fuel source, the only byproducts generated are heat and water.

The architect of modern fuel cell technology, PPI is revolutionizing the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders, including Walmart, Sysco, Procter & Gamble, and Mercedes Benz, forged the path for PPI’s innovative GenKey hydrogen and fuel cell system solutions.

Plug Power retained Fairfield Capital in August 2015 to assist it in providing competitive, state-of-the-art lease financing solutions for its blue-chip customers and, ultimately, to set the groundwork for the formation of a captive customer financing business.

Relational Technology Solutions

Relational Technology Solutions, Rolling Meadows, Illinois¹

At the end of the third quarter 2009, Relational’s lease portfolio consisted of approximately $500 million of assets leased to mid market and enterprise customers across the United States and Canada.  Relational’s Technology Services Division, headquartered in Columbus, Ohio, provided technology hardware acquisition and integration services and unified communications solutions to mid market, enterprise and government customers.

Immediately after the market crash of 2008, it was nearly impossible to find investors for syndicated lease or secured loan transactions where the lessee/borrower was a financial services company.  In mid-2009, RTS had a need to fund a series of transactions with one of its big clients in the financial services industry.  After approaching over 30 investors, Fairfield Capital was finally able to help RTS raise $5 million in funding.  We found an institution that banked the client, was familiar with its management and financial strength, and was looking to add more exposure especially at the premium yield that was being offered by RTS.

¹ On March 16, 2010, Macquarie Equipment Finance (MEF), a global provider of independent lease financing and asset management solutions, announced that it acquired the Technology Services Division of Relational Technology Solutions.



Dana J. Pasternak, Managing Director & Founder

Mr. Pasternak has worked his entire 35+ year career in the secured asset finance industry. He has held senior executive positions with equipment finance and leasing businesses in the bank-affiliated, investment banking, and commercial finance industries.

He was a Vice President in the Secured Asset Finance Group at Morgan Stanley & Co., Incorporated. Later, as a Managing Director of Banc of America Leasing & Capital (successor to Security Pacific Leasing Corporation), he was responsible for both middle-market and large-ticket business development activities in the eastern U.S., and in a similar capacity as Senior Vice President of Chase Equipment Finance (successor to Banc One Leasing Corporation) where his responsibilities also included the capital markets group. In addition, he started up and managed a middle-market equipment leasing business for Verizon Credit Corporation (successor to NYNEX Credit Company) whose portfolio he built to over a quarter billion in assets in less than three years. In 1998, he joined Fleet Capital Leasing’s Global Lease Finance Group where he syndicated lease and loan investments to institutional investors in a multitude of different markets. Since 2004, when he founded Fairfield Capital, he has been using this experience to assist small and mid-size Issuers and Investors raise capital in the equipment finance and leasing markets.

Mr. Pasternak holds a B.S. degree from Fordham University, a B.S.E.E. degree from Columbia University School of Engineering and Applied Science, and an M.B.A. from Harvard Business School. He is a veteran of the U.S. Army Medical Corp.


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Stephen R. Cain, Managing Director

Mr. Cain is an experienced leasing industry veteran with extensive underwriting, documentation and business development experience. He held senior underwriting positions at both Citicorp Leasing and Fleet Capital Leasing where he directed the activities of upwards of a dozen credit analysts and documentation managers. He later moved into new business development at Fleet Capital Leasing where he was one of the top new business producers prior to its merger with Bank of America. In 2007, Mr. Cain formed Cain Capital Partners, LLC where he advises companies on raising lease and debt capital. He also has experience in raising venture capital for startup businesses.

Mr. Cain holds a B.B.A. degree, with a major in Finance, from the University of Wisconsin, where he graduated with honors, and an M.B.A. degree, with a major in Finance, from the University of Chicago, Booth School of Business, where he was named to the Dean’s Honor List.


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Richard M. Contino, Esq., Managing Director

Richard M. Contino is an internationally-recognized equipment leasing expert, with an extensive legal, business, marketing, tax, transaction structuring, financial and management background.  He is an advisor on all types of start-up and on-going equipment leasing business activities for lessors, lease lenders and syndicators, equipment vendors, lease investors and corporate lessees.  He is former General Counsel of De Lage Landen, Wayne, Pennsylvania, a subsidiary of The Rabobank Group, and the 14th largest equipment lessor in the U.S.

Mr. Contino is the author of eight books on business, negotiating, and equipment leasing, the most recent being The Complete Equipment-Leasing Handbook, Amacom Books, 2002.  He has conducted private on-site and publicly-held business success, communication, finance, and negotiation seminars throughout the United States for professional organizations (e.g., American Management Association, Equipment Leasing Association, Illinois Institute of Continuing Legal Education, National Seminars Group, Practicing Law Institute, and University of California Graduate School of Law) as well as corporations (e.g., AT&T, EXXON Corporation, NYNEX, and Texas Instruments Corporation).

Mr. Contino holds an LL.M. in Corporate Law from New York University Graduate School of Law, a Juris Doctor from University of Maryland School of Law, and a Bachelor of Aeronautical Engineering from Rensselaer Polytechnic Institute.   He is admitted to the Bar in the District of Columbia, Maryland and New York, is a member of the American Bar Association, and is Listed in Who’s Who of American Law, Who’s Who of Emerging Leaders, and Who’s Who in the World.  Mr. Contino is also a Captain (retired) in the United States Air Force.


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Fred Marchini, Managing Director

Fred Marchini is the consummate leasing and finance professional with over thirty years experience in all areas of the equipment leasing and finance industry.

His professional positions have included senior business development, capital markets and financial advisory roles at a number of major international banks and/or their affiliates, i.e., Vice President at:

  • Bank Hapoalim B.M.
  • Bank of Scotland
  • Barclays DeZoete Wedd division of Barclays Bank; and
  • SMBC Leasing & Finance, Inc., subsidiary of Sumitomo Mitsui Banking Corporation

and as Manager, Syndications at a domestic finance company (Pitney Bowes Credit Corp.).

In these positions, Mr. Marchini held executive positions with direct and/or oversight responsibilities that included in totality all functional areas of the business—originating, pricing, structuring, underwriting, negotiating, syndicating and closing both domestic and cross-border debt, and single-investor and leveraged lease transactions.  His transaction experience includes relatively straight-forward middle-market lease and loan transactions for as little as a few million dollars to highly-structured, cross-border and domestic lease and loan transactions for equipment or facilities costing in excess of $50 million.  His experience likewise runs the gamut with respect to the various asset classes typically financed in the market.


Jay Waters, Managing Director

A leader in equipment leasing and real estate financing for over 35 years, Mr. Waters has experience in all aspects of leasing, from small transactions to large transactions in excess of $50,000,000, and real estate financings up to $75,000,000.

His wealth of experience in both direct and indirect lending ensures he delivers competitive rates, creative lease and real estate structures, timely response, and committed involvement from inception through successful completion of every transaction.

Mr. Waters has worked his entire 40+ year career in the secured asset finance industry, holding various executive positions with equipment finance and leasing businesses in the bank-affiliated, and commercial finance industries. He was also a principal with a publicly traded company subsidiary that provided equity in equipment leases across the country.

He is active in providing capital market functions to lenders, as well as brokers and developers. Mr. Waters has worked with companies, such as GE Capital, Heller Financial, Cheyenne Leasing (a joint venture with Genesee Brewery, providing equity for major lenders for equipment leases for investment grade credits), Security Pacific Leasing and M&T Bank.

Mr. Waters holds a BA from Lake Forest College, Lake Forest, IL.





About Us

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Fairfield Capital was founded in 2004 by Dana J. Pasternak, an industry veteran with 35+ years of business development, capital markets, and senior executive experience in the equipment leasing, commercial banking, commercial finance and investment banking industries.  He has assembled a team of professionals that are equally experienced in their respective areas of specialization and share his commitment to providing our clients with the best advice and execution available in the industry.

We maintain relationships with several hundred domestic and off-shore institutional investors in the asset-based lending, commercial banking, commercial finance, equipment leasing and finance, insurance, private equity and venture capital markets.  We use our experience and our knowledge of these markets to raise lease and debt capital for our clients at the lowest cost, and under the best terms and conditions, available from time to time.

Fairfield Capital Group, LLC is organized under the laws of the state of Florida and maintains offices in Chicago, Illinois, and the Naples, Florida and New York metropolitan areas. Using the latest in communications and technology, and to minimize out-of-pocket expenses, we work as much as possible on a remote basis and only travel when necessary at the request of a client when they pre-approve the expense.



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