Jeremy Drucker

Jeremy Drucker is a senior private-capital investor with roughly 25 years of experience across private equity and private credit. According to Penfund's own biography, he began his career in the leveraged finance department of Goldman, Sachs & Co. in New York, focusing on senior and subordinated debt financing across a variety of industries. He subsequently joined Oak Hill Capital Management, Inc. in New York, where he was responsible for private equity investments in the basic industry, consumer products, and retail and distribution sectors.

Before joining Penfund, Drucker spent more than ten years with ONCAP Management Partners, the middle-market private equity arm of Onex Corporation, where he led transactions in the automotive aftermarket, renewable energy, education, and business services sectors. He also served as a Portfolio Manager, Private Debt & Loan at AIMCo (Alberta Investment Management Corporation), giving him direct experience on the institutional private-debt side that aligns closely with Penfund's junior-capital strategy. Aggregator sources (e.g., ZoomInfo) additionally associate him with earlier legal/finance roles including Davies Ward Phillips & Vineberg, Sullivan & Cromwell, and RBC Capital Markets — consistent with his law degree, though these specifics are less authoritatively sourced than the Penfund bio.

Drucker holds a BA from Cornell University and both a JD and an MBA from the University of Toronto. At Penfund he was promoted to Vice President effective April 1, 2022, working on the firm's middle-market financing transactions.

Note on current status: Penfund's February 2025 firm overview still listed Drucker as Vice President, but his individual Penfund profile page is now offline, he is absent from the current team roster, and Equilar's executive database flags him as a *former* Vice President (as of ~April 2025). His role post-Penfund is not publicly confirmed.

• Invests as a lender/structured-capital provider, not an equity venture/angel investor — Penfund deploys senior debt, mezzanine, unitranche, and selective equity co-investments to middle-market companies.
• Targets established, cash-generative businesses with annual EBITDA of at least ~$20 million; Penfund's stated philosophy favors "very simple" businesses that "do one thing… well for many years."
• Strong preference for recession-resilient demand — companies selling "inexpensive consumable goods which are non-deferrable and non-discretionary (such as a can of vegetables or a litre of motor oil)" or providing essential/contracted services, things "people buy in boom times and in recessions."
• Emphasis on asset-light free-cash-flow conversion (80–90% of EBITDA to FCF) to reduce risk and preserve flexibility.
• Sector concentration in consumer staples, automotive aftermarket, pet, food, industrial distribution, environmental services, healthcare, and financial services across North America.
• Firm positioning: "experienced, reliable and relationship-focused" with a multi-decade history of lending to the middle market, prioritizing speed, reliability, and ease of execution for sponsors and borrowers.