Goldman Sachs selected Fate as one of 100 entrepreneurs from multiple industries to be honored at the two-day event. He is the founder of Stonebriar, a diversified commercial finance and leasing company, and has served as president and CEO since the company’s formation as a de-novo startup in February 2015. Fate leads a team of nearly 50 professionals focused on originating transactions through multiple channels, including direct clients, OEMs and strategic partner relationships. Stonebriar provides lease and finance solutions to a range of industries, including rail, aviation, marine, transportation, manufacturing, energy and real estate.
Since launching Stonebriar, Fate has led the team in achieving an investment grade corporate credit rating while building a $3.2 billion portfolio. During that time, Stonebriar has issued seven ABS transactions approximating $3.5 billion, with the top tranches rated AAA. Stonebriar has issued three series of unsecured private placements to further diversify its funding sources.
Before Stonebriar, Fate previously played leadership roles in the startup of $3.5 billion AIG Commercial Asset Finance and $3.2 billion Transamerica Equipment Finance.
Fate began his career in 1982 as a credit analyst with CIT in Wichita, KS. He has been an ELFA industry advocate during his career, having served on various ELFA committees, the board of the ELFA Foundation and as a current member of the ELFA Executive Committee. He is involved in the ELFA’s Emerging Talent and Women’s Counsel initiatives. In 2018, Fate was awarded the first ever Monitor MVP award.
“The company’s performance and Dave’s track record of consistently delivering strong financial results, developing a strong culture and cultivating leadership talent exemplifies his unique skill set,” Tony Minella, co-founder and president of Eldridge and a Stonebriar board member, said. “Dave leads with integrity and purpose. He has set the bar high for future entrepreneurs.”
“True innovation is built from a diversity of perspectives and experiences,” David M. Solomon, CEO of Goldman Sachs, said. “Our Builders + Innovators Summit brings together a collective of impressive future leaders who are striving to drive meaningful change. For over 150 years, Goldman Sachs has supported entrepreneurs as they launch and grow their businesses. That’s why we are pleased to recognize Dave B. Fate as one of the most intriguing entrepreneurs of 2020.”
In addition to honoring 100 entrepreneurs, the summit, which this year will take place virtually, consists of general sessions and clinics led by entrepreneurs, academics and business leaders as well as resident scholars.
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!