Chief Financial Officer
Senior Vice President
Vice President, Portfolio Tax
Assistant Portfolio Controller
CCO, SVP of Human Resources & Administration
Vice President, Portfolio Controller
Senior Manager, Portfolio & Accounting
Senior Vice President, Asset Management
Cory Bennett joined Formation Capital in 2015. As a member of the Asset Management Group, he is responsible for managing property portfolios, ROI initiatives, lender and investor relations and financial reporting and analysis.
From 2009 to 2015, Cory was a Relationship Manager in the Homebuilder Corporate Banking Group at Wells Fargo Bank where he provided enterprise and project-level banking solutions to the largest homebuilders in the United States. In 2008, he worked at Wachovia Bank as a Risk Advisor on the Credit Grading Methodology team in Charlotte, North Carolina. Cory started his career in 2006 as a Risk Analyst at Wachovia in Atlanta, Georgia.
Cory received a BS in Global Economics and Modern Language with a focus in Spanish from Georgia Institute of Technology and an MBA from the Goizueta Business School at Emory University.
Ewan joined Formation Capital in January 2021 as a staff accountant. His primary roles include accounts payable, invoice processing, and cash management.
Prior to joining Formation, Ewan worked for Electrostatic Spraying Systems as a purchasing manager.
Ewan is a 2018 graduate of the University of North Georgia, where he received a bachelor’s degree in Accounting.
Senior Manager, Portfolio Finance & Accounting
Charity Simmons joined Formation Capital in November 2016 as an Accounting Manager. She is primarily responsible for all financial accounting and reporting of assigned Formation portfolios.
Prior to joining Formation Capital, Charity worked as a Senior Accountant at Euramax International, a building products manufacturer. Her duties included SEC financial statement reporting, consolidations, and other corporate accounting functions. Prior to that time, she worked at Pricewaterhouse Coopers as an auditor in the Private Company Services group.
Charity Simmons graduated with a BBA in Finance and Economics from Bryan College and an MBA in Accounting from Kennesaw State University.
Nela Powell joined Formation Capital in 2014. Her responsibilities include the implementation and monitoring of the compliance training and management systems, as well as supporting various compliance and legal-related projects.
Prior to joining Formation Capital, Nela worked in the litigation department of a real estate firm. Her job responsibilities included working alongside the Litigation Compliance Management team as well as Associate and Managing Attorneys to ensure compliance and adherence to both firm and client directives. Nela also spearheaded the drafting and implementation of the Litigation and Eviction Department’s Policies and Procedures Manuals.
Nela earned her BS in Biology from Georgia State University and obtained her Paralegal Certification from the University of Georgia’s Paralegal Certificate Program.
Deborah Reed Johnson joined Formation Capital in March 2015. Her primary duties include cash management, accounts payable, and portfolio accounting. Prior to joining Formation Capital, Deborah was part of the accounting and finance team at Primary Capital Mortgage, a publicly traded residential mortgage lender and servicer.
Deborah earned her BA in Accounting from Georgia State University and received her MBA from Brenau University in 2017.
Chief Executive Officer
David Russ has been active in private equity, acquisition finance and lending for the past 20 years. As President, David provides senior management leadership to all aspects of Formation Capital and oversees its investment efforts including acquisitions and asset management. Since joining Formation Capital in 2010, David was instrumental in the firm’s growth in healthcare real estate and expansion into private equity investments in post-acute care service companies.
Prior to joining Formation Capital in March 2010, David enjoyed a ten-year investment banking career in New York including eight years with Bear Stearns and two years with RBC Capital Markets. His experience focused on acquisition finance and included more than $30 billion of transactions across various industries including healthcare, aerospace and defense, consumer products and technology.
David has earned the Chartered Financial Analyst designation, an MBA from Duke University and a BA from the Honors program at Vanderbilt University with majors in mathematics and French.
CPA, Chief Accounting Officer, Portfolio Finance and Accounting
Joe McDurmont joined Formation Capital in 2014 as the Vice President of SEC Reporting and Compliance with a heavy focus on supporting Formation’s SEC registrant joint venture partners. He is also responsible for overseeing the purchase price accounting for all new investments, financial reporting (both internal and external), audits, internal controls/SOX compliance, technical accounting research and administration of the company’s report writing system.
Joe has over 20 years of accounting experience. Prior to Formation, he served as Vice President of Accounting at Columbia Property Trust and its predecessor company Wells Real Estate Funds. Prior to that time, Joe was a Financial Manager with Trammell Crow Co., with CFO responsibility for the company’s Atlanta real estate operations. He also previously served as Director of Partnership Reporting and Controls for HEALTHSOUTH Corp., and as Senior Accounting Manager for Cingular Wireless.
Joe graduated from Georgia State University with a BBA in Accounting and is a Certified Public Accountant. He is also a member of the American Institute of Certified Public Accountants and the Georgia Society of CPAs.
Caroline Moler joined Formation Capital in 2020 as an Assistant Portfolio Controller. Her primary duties include preparing and reviewing all accounting aspects of assigned Formation portfolios including financial reporting, debt servicing, cash management, and managing audit engagements. Prior to Formation Capital, Caroline worked in fund accounting at Investure, LLC. She previously worked in accounting advisory at The Siegfried Group and also as an auditor with Deloitte & Touche.
Caroline earned her B.A. in Economics from the University of North Carolina at Chapel Hill and her Masters in Accountancy from the University of Southern California. Caroline is a Certified Public Accountant, licensed in California.
Chris Starkey joined Formation Capital in 2020 as an Assistant Portfolio Controller. His primary duties include preparing and reviewing all accounting aspects of assigned Formation portfolios including debt servicing, cash management, and financial reporting as well as managing audit engagements. Prior to joining Formation Capital, Chris worked for KPMG’s U.K. and U.S. firms for 6 years across their Audit practices, working on public and private clients across numerous sectors.
Chris is a Chartered Accountant and member of the Institute of Chartered Accountants in England and Wales. He graduated from the University of Birmingham, U.K. with a Masters degree in Physics.
Arnold Whitman is founder and Chairman of Formation Capital. Over the past 20 years, Arnie has strategically led Formation Capital in its growth and execution of over $8.5 billion in transactions.
Arnie is also a founding partner in Generator Ventures, a leading venture firm focused on the intersection of innovation and aging. He is also a partner with Aging 2.0, a global platform and community for innovators, providers, distributors, and investors focused on solutions for aging and seniors.
Arnie is a former board member and Chairman emeritus of the National Investment Center for Seniors Housing and Care (NIC). He is a current board member of Genesis Healthcare, HC-One in the U.K., ASHA, Care Institute, Vynca, and Chronic Care Management, Inc.
David Rihner joined Formation Capital in January 2016 as Portfolio Group Controller. His primary duties involve oversight of all accounting aspects of assigned Formation portfolios including financial reporting, on-boarding new portfolios, oversight of purchase price allocation projects, directing audit engagements, and other special projects as needed.
David has over 15 years of accounting experience. Prior to Formation, he served as Director of Property Accounting at Signature Office REIT and its predecessor company Wells Real Estate Funds, Inc. Prior to that time, he was an Associate Director in Mobility Network Finance at AT&T and held various Finance and Accounting positions at AT&T/Cingular Wireless.
David graduated with a BS in Accounting from William Carey University and a MBA from Kennesaw State University.
Inessa Loyevska joined Formation Capital in March 2015 as a Senior Accountant for the Eclipse Portfolio. Her primary duties include oversight and management of all areas relating to accounting and financial reporting of the Eclipse portfolio as well as SOX compliance.
Prior to joining Formation, Inessa worked as a Senior Accountant for Alliant Health Solutions, a not-for-profit Government sub-contractor and as a Property Accountant for Consulate Management Company.
Inessa received BA in Accounting from Georgia State University in 2012 and Master in Accounting from Kennesaw State University in 2015.
CPA, Vice President, Portfolio Tax
Eugenia Hobbs joined Formation Capital in 2013. As Tax Manager, her responsibilities include managing the tax compliance process, reviewing and filing federal, state, local and property tax returns, projections for quarterly estimates, communication with investors and tax authorities, tax planning and research.
Eugenia began her accounting career with a small UK-based company that organized medical conferences around the world. While earning additional educational credits for her CPA, she got interested in tax and joined Ernst & Young where she worked on expatriate and foreign resident taxation before moving to the real estate group at Pricewaterhouse Coopers. During her 4-year tenure with PwC, Eugenia worked on a variety of clients in real estate and private investment companies. In addition, prior to joining Formation Capital, she worked for a regional real estate fund and solely managed all tax compliance functions for its corporate tax department.
Eugenia received a Bachelor of Arts in Teaching English and French from the Moscow State Pedagogical University in Moscow, Russia, and she earned her MBA and Master of Taxation from Georgia State University. She is a certified public accountant in the state of Georgia.
Managing Director, Asset Management
Stephanie Hamner is responsible for asset management, fund administration, portfolio compliance and investor reporting. Prior to joining Formation Capital in 2012, she worked in GE Healthcare Financial Services’ real estate group for six years, most recently as a Vice President concentrating on underwriting and portfolio management. Prior to joining GE HFS, Stephanie was the Manager of Financial Planning & Analysis at CNBC and a Senior Investment Analyst for GE Capital.
Stephanie earned her BA in Economics with honors from Vanderbilt University.