Investment Team

LBAdvisors, LLC’s investment professionals are industry leaders in all classes of securities, equity and obligations of distressed companies. The founders’ over 30 years of distressed experience as principals – as fund managers, founders of several funds, advisors, and board members – creates unparalleled experience to achieve superior results.

Russell Belinsky – Co-Founder

Russell Belinsky is a Co-Founder and Managing Partner of LBAdvisors, LLC. Mr. Belinsky also co‐founded a previous private equity firm ‐ Balmoral Advisors (Fund 1), a deep‐value, lower middle market, control oriented private equity firm. He led the firm’s investments in restructurings, turnarounds, orphaned business and other special situations generating top decile performance since inception.
Russell Belinsky was previously a senior managing director at Duff & Phelps and co‐leader of the Restructuring Advisory practice. In 1990, Russell co‐founded Chanin Capital Partners (CCP), a leading specialty investment banking firm, which was acquired by Duff & Phelps in 2006. Prior to CCP, Mr. Belinsky was with the law firm of Skadden, Arps, Slate, Meagher & Flom.
Mr. Belinsky earned his J.D., cum laude, from Georgetown University Law Center. He earned his Bachelor of Science in business administration, magna cum laude, from Wayne State University.

Harald Ludwig – Co-Founder

Harald Ludwig is the co-founder of LBAdvisors, LLC and a co-founder of Balmoral Advisors. Since 1985 Mr. Ludwig has served as President of Macluan Capital Corporation, a diversified private equity and investment firm.  He has served on the boards of various private and public companies including as Chairman Lions Gate Entertainment Corporation, West Fraser Timber Company and Seaspan Corporation. Additionally, he is a founding partner and private equity/venture capital investor in a number of North American and international firms including hedge funds, mezzanine lenders, growth capital providers, distressed investment firms and real estate investment vehicles. He also served as an adviser and an investor in Tennenbaum Capital Partners LLC (purchased by BlackRock).

Michael Accordino – Managing Director

Michael Accordino is a Managing Director. Mr Accordino was founder and Managing Partner of Playa Capital Partners. Mr. Accordino was previously a vice president at Rimrock Capital Management and co‐head of the Tactical Opportunities Group (“Tac Opps”). Tac Opps has an opportunistic and flexible mandate to invest across distressed debt, special situations and bespoke direct lending. Previously, Mr. Accordino worked within the Distressed Debt Group at Cerberus Capital Management. Michael began his career within investment banking at Peter J. Solomon Company.
Mr. Accordino earned his Bachelor of Arts from Columbia University and was Captain of the Men’s Varsity Tennis Team.

Senior Advisory Team

Anjan Chatterjee

Anjan Chatterjee has worked as an independent consultant to Hedge Funds, Private Equity firms and to Auto and Industrial companies looking for restructuring and business transformation. He was a Senior Advisor to Chanin Capital Partners from 2005-2011. Prior to that, he headed all business development activity and was responsible for all finance functions in his role as CFO of Visteon.

Mr. Chatterjee was also a senior partner at McKinsey & Co, and headed their North America Auto practice, as well as opening their Detroit office in 1998. He began his career as a consultant at Booz, Allen & Hamilton, and AT Kearney.

Mr. Chatterjee has a Bachelor’s degree in Electrical Engineering from Indian Institute of Technology, Delhi, a Masters degree in Computer Science from George Washington University, Wash. DC and a MBA from the Stanford University Graduate School of Business.

Michael Mack

Michael Mack is a Senior Advisor to LBAdvisors, LLC. He is a Chair in Bend Oregon for Vistage Worldwide, a leading business advisory and executive organization. Prior to this role, Mr. Mack was the Founder and Managing Director of 2m space, a consulting firm for C‐level executives. Previously, Michael was the Founder & CEO of Garden Fresh Corp. (dba Souplantation & Sweet Tomatoes Restaurants) and COO & CEO of Brooke & Mack. Michael began his career and Bain & Company.

Mr. Mack has an M.B.A. from Harvard Business School, and a B.Sc. in Applied Math / Economics from Brown University.

Anil Menawat

Anil S. Menawat is a Senior Advisor to LBAdvisors, LLC. He is President and COO of Menawat & Co. provider of ProFIT-MAP™ Teams – People Centric Industry 4.0 software, and ProFIT-MAP™ business advisory services to improve performance and profitability. Since 1997 he has worked with large organizations and private equity investors to turnaround distressed companies and divisions. He has 35 years of experience in manufacturing, Chemical, pharmaceutical, software and consulting industries. Anil was an Assistant Professor at Tulane University with joint appointments in Chemical Engineering and Molecular & Cellular Biology. ProFIT-MAP™ emerged from his research and consulting experiences during these years. After that Anil was Senior Manager–Advanced Manufacturing Technology and New Business Development at Aeroquip Corp., where he successfully applied the ProFIT-MAP™ concepts that played a key role in creating new businesses and a new division for Advanced Computer Technologies.

Mr. Menawat earned BS and MS in Chemical Engineering, and a Ph.D. in Systems Theory. Anil is an author of two books titled Profit Mapping (McGraw Hill, 2006), and Execution Dynamics (Amazon, 2012), and has published over 25 articles in scientific and trade journals. He was profiled by Business Week magazine for his pioneering work on nonlinear systems theory and is listed in Who’s Who in Science and Engineering. He is an invited speaker and panelist on manufacturing systems, business startups and operational cost containment. He has chaired several national and international symposiums and conferences, and has served on National Science Foundation technology panel. He has won several awards including “Crain’s 2007 American Dreamer”, a “Great Job” at Aeroquip Corp. and two outstanding teaching honors at Tulane University.

Ned Scherer

Ned Scherer is Senior Advisor to LB Advisors, LLC. He is an independent consultant and advisor specializing in the home furnishings and turnaround sectors.  Mr. Scherer practiced law, and has worked on varying transactions with, LB Advisor founder Russ Belinsky since 1986.  He is currently CEO, Drone Labs, LLC, a company engaged in the drone detection space.  In 2018, the United States Patent and Trademark Office granted Drone Labs the process patent for drone detection in the United States.  He held the role of CEO at Haynes Furniture – The Dump, the country’s largest off-price retailer of home furnishings, rugs, and mattresses, where he and his team profitably drove revenue from $65 million to more than $275 million in five years (2005 – 2010).  From 2001 – 2003, Mr. Scherer was co-founder and Senior Managing Director of Arctas Capital Group, a boutique advisory and merchant banking company serving the energy sector.  He founded, and served as CEO, Resource Logistix, LLC (third-party logistics serving railcar shippers and owners) in 1999. Vopak Logistics North America acquired Resource Logistix in 2001.  Mr. Scherer joined MBF Industries, Inc. (railcar repair, painting, and lining services to the chemical and plastics industries) in 1992 as Chief Financial Officer.  He was named CEO in 1996 and subsequently negotiated the sale of the company to Trust Company of the West in 1999.  From 1985 – 1991, Mr. Scherer practiced corporate law and worked in investment banking specializing in mergers & acquisitions, corporate finance, and distressed securities.
Mr. Scherer holds a BS in Economics from The Wharton School, University of Pennsylvania (major in finance) and a JD from the UCLA School of Law.