10 East Investment Advisory Board welcomes Joel Alsfine

10 East is pleased to welcome Joel Alsfine to its Investment Advisory Board. Joel is playing a pivotal role in shaping our investment pipeline—sourcing and reviewing opportunities, pressure-testing theses, and guiding portfolio construction. With more than two decades at MSD Capital, he brings a rare combination of strategic clarity and deep market experience. Joel’s perspective will help accelerate enhancements to our investment process and reinforce our ability to create long-term value for 10 East investors.

Joel began his career at McKinsey & Company after earning his MBA from Stanford. He went on to build two decades of investment experience across asset classes and structures at MSD Capital. Joel joined MSD Capital in 2002 as an analyst and became a partner and the portfolio manager of a large, concentrated multi-billion-dollar portfolio that consistently outperformed benchmarks over more than a decade. Joel later joined Rugger Management LLC, a single-family office, as Chief Investment Officer.

Joel has served on the boards of multiple public companies, including Asbury Automotive Group Inc. (NYSE: ABG) and Life Time Group Holdings Inc. (NYSE: LTH), and previously Party City (NYSE: PRTY) and CC Neuberger Principal Holdings II (NYSE: PRPB). His experience ranges from traditional equities to opportunistic credit and real estate, from corporate boardrooms to private capital allocation committees. What ties it all together is a disciplined approach to decision-making and a conviction that great investing starts with asking the right questions.

“We are in the business of taking risk,” he observes. “There’s no such thing as mitigating risk completely. What matters is whether we’re taking the right risk, with the right expected outcome.”¹ That belief drives his emphasis on structured dissent. Joel also brings a distinctive perspective on portfolio construction and investor alignment. He values the flexibility to source across asset classes and capital structures, provided each opportunity fits within a coherent risk-return framework.

His decision to serve on 10 East’s Investment Advisory Board reflects his conviction in the platform’s trajectory: evolving into a disciplined, transparent, and long-term oriented community of investors. What began with co-investments alongside Michael Leffell’s personal portfolio has expanded into opportunities shaped by the guidance and judgment of the 10 East IAB—ensuring that investors benefit from seasoned perspectives and a consistently rigorous approach.

Joel’s addition to the board marks another step forward in our effort to institutionalize excellence. As we scale the platform, we’re focused on reinforcing the structures that support long-term stewardship on behalf of our investors and partners. We invite you to explore our current and upcoming offerings at 10East.co.