SWAJIT T.

RATH
199 Massachusetts Ave, Apt 415 Boston MA 02115 312.622.2551 swajit.rath@gmail.com EXPERIENCE

FIDELITY MANAGEMENT & RESEARCH

Boston, MA Healthcare Research Analyst High Yield Debt & Stressed Equities Group (AUM: $108bn) Aug 2011 Present Originate and monitor healthcare investments across the capital structure, including bonds, equities, loans, convertibles and PIKs Generate investment ideas leveraging proprietary network of doctors, non-physician healthcare professionals and academics Can independently source credits in the high yield, bank loan and distressed markets through bank and broker relationships Perform fundamental analysis of sectors and companies, with an understanding of cash flows, capital structure and covenants Initiated written research coverage on 38 names across pharmaceuticals, biotech, medical devices, healthcare IT and services Participated in the successful reorganization under Chapter 11 of a distressed credit, currently involved in a second restructuring Bond portfolio outperformed the relevant benchmarks by over 250bps in both 2012 and 2013, sample investments include: - PRA International: Industry work on public contract research organizations (CROs) provided insight into growing demand for CRO services by biotech, thesis backed by extensive conversations with biopharma middle-management; generated 14% CAGR - Elan: Covenant analysis drove bond purchases and enabled fund to adopt an activist position in response to managements initial bond buy-back proposal; acceptance of legal arguments by company management led to bond prices increasing 5 points in 6 days - Valeant: Understanding of cash flows led to comfort with leverage and managements ability to extract value through acquisitions. This unpinned equity thesis based on selected therapeutic and geographic markets; 68% CAGR over 2 years Media Research Analyst High Yield & Stressed Equities Group Summer 2010 Completed an industry analysis of the TV broadcasting space and identified investment opportunities within the declining industry Conducted primary research by speaking to content providers, competitors, regulators and buyers of TV advertising

THE ROYAL BANK OF SCOTLAND

London, UK Vice-President Proprietary Investing Group (early promotion from Associate) Jan 2007 - Aug 2009 Desk analyst for a proprietary trading team with 1.5bn in stressed and illiquid credit assets; average holding period of 6 months Built financial and operating models, undertook due diligence and presented conclusions before an investment committee Evaluated 24 investment opportunities across high-yield bonds, convertibles and ABS; notable transactions include: - 270m acquisition of real-estate assets secured by British Telecom leases: evaluated rental agreements and the impact of wireless technology on telecom exchanges; repackaged and sold the assets as corporate bonds, generating 14% through a basis trade - $330m co-financing of Warner Bros. film slate: structured a risk-sharing agreement and co-invested in a $1.0bn film slate (13 films, prior to their release); generated returns of 16% in 2008 through a final exit via a film library securitization

MORGAN STANLEY

London, UK Capital Markets Associate Structured Credit and Hybrid Capital Markets Desk Oct 2004 - Dec 2006 Structured and valued 5 transactions raising over $1.8bn in equity, convertible debt and private debt; selected transaction: - 680m IPO of Tryg Vesta: created a relative valuation analysis of European P&C insurers covering multiple regulatory regimes

GOLDMAN SACHS

Investment Banking Analyst Financial Institutions M&A Completed 2 merger transactions valued at over $15.6bn and 2 IPOs raising over 680m; selected transaction: - Advisor to Santander on their $15.0bn acquisition of Abbey: worked with management to identify and quantify deal synergies EDUCATION

London, UK Jun 2003 - Oct 2004

THE UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS

Master of Business Administration with Honors concentrations in Analytical Finance & Accounting Recipient of a 2 year merit-based Inlaks Scholarship; GMAT 740/800 GRE 2360/2400

Chicago, IL Sep 2009 Jun 2011

CAMBRIDGE UNIVERSITY

Cambridge, UK Bachelor of Arts and Master of Arts degrees in Economics: First Class Honors Sep 1999 - Jun 2003 Bill Gates Foundation Scholar, awarded the UK Foreign & Commonwealth Office Scholarship Teaching Assistant for undergraduate tutorials in econometrics, the only non-PhD to be appointed to this position in my year ADDITIONAL Have actively managed a portfolio of equities, real estate and agricultural assets across 3 countries for over 9 years Lived in 6 countries including Singapore and Saudi Arabia, have visited over 42 countries including North Korea Interests include classical piano, military history, playing squash and one-hit wonder bands from the 1980s