# First Light Financial

First Light Financial is an Asset Manager based in Greenwich, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Greenwich, United States
- **Region:** North America
- **Address:** Greenwich, CT, United States
- **Founded:** 2005
- **Assets under management:** Undisclosed
- **Website:** firstlightfinancial.com

## Regulatory record

- **CRD number:** 118922
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/118922

## About

FIRST LIGHT FINANCIAL is a state-registered investment adviser with $17 million in regulatory assets under management. The firm has 1 employee and 1 investment adviser. It operates with a single office.

## Sectors

- Private Credit
- Emerging Markets
- Real Estate
- Infrastructure

## People

- Robert G. Goldstein — Co-Founder & Managing Partner
- John J. Cernuschi — Co-Founder & Managing Partner

## Questions

### Who runs investment decisions at First Light Financial?

Robert G. Goldstein and John J. Cernuschi, the co-founding managing partners, are the named decision-makers. Both came out of the structured finance division of WestLB, where they worked on Latin American credit prior to launching the firm in 2005. The partnership has remained small, with no publicly identified investment committee beyond the two founders.

### What is First Light Financial's core investment strategy?

The firm originates and holds private, dollar-denominated mezzanine and structured credit for middle-market companies in Latin America. Sectors historically include agro-processing, logistics, and real estate development. The strategy favors covenant-heavy, direct-originated paper and avoids widely syndicated leveraged loans or local-currency exposure.

### Which countries does First Light Financial operate in?

Primary geographies are Mexico, Brazil, Argentina, and the Andean economies. The firm is headquartered in Greenwich, Connecticut, with no disclosed regional offices, sourcing transactions through local relationships rather than an on-the-ground placement network.

### What was the SEC action involving the firm, and what was the outcome?

The SEC filed a civil suit in 2012 alleging the firm misrepresented portfolio valuation and fund concentration to limited partners in its First Light Funding vehicle. The principals denied the allegations and secured summary judgment in early 2018; the judgment was affirmed on appeal later that year, resolving the matter without a finding of fraud or penalty.

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Last updated: 2026-06-03T20:00:00.000Z

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