Bill Johnston

Bill Johnston

Vice President

New York


Investment professional with experience structuring, underwriting, executing, and managing senior and mezzanine credit investments in the U.S. middle market. Transaction experience includes sponsor-backed, independent sponsor-backed, and non-sponsored transactions.


2016 Jun - 2020 Aug
Vice President
Praesidian Capital / New York
  • Managed all stages of debt and equity investment processes, including diligence, financial modeling, and legal
    • Structured and underwrote highly leveraged cash flow loans and control equity investments
    • Worked directly with CEOs / CFOs at prospective and current PortCos to conduct diligence, set covenants, and implement post-close performance initiatives
    • Structured amendments, led add-on investments, and represented Praesidian at PortCo board meetings
  • Led Praesidian’s Paycheck Protection Program (“PPP”) initiative. Every PortCo received funding
    • Worked directly with senior management at over 20 PortCos to ensure each application was submitted as soon as the application window opened
    • Introduced PortCos without existing banking relationships to PPP lenders to ensure applications received immediate attention from senior bankers
  • Designed Praesidian’s CIMs and marketing materials to support independent sponsor investments
    • Reached out to prospective lenders, responded to all credit and structuring questions
  • Created fundraising presentations and handled all investor requests regarding fund performance and projections
    • Designed fund projection model from scratch to project investor IRRs and GP carry value
      • Included scenario toggles for realization values and interest income for each investment
      • Subsequently used as template for all Praesidian funds
  • Ran annual audits and portfolio valuations for all four U.S. funds; represented and defended valuation decisions to auditor valuation experts
    • Led clean SBA examinations covering four years of performance for two SBIC’s
  • Supervised, mentored, and trained analysts and interns
  • Select Transaction Experience:
    • National Go-Kart and Family Amusement Centers Company – Sr. Debt Investment (Refinancing and Growth)
      • Led diligence for initial investment and potential add-on investments. Worked with senior management, legal, and accounting professionals
      • Created by-location model to forecast management, base, and downside scenarios as well as set covenants
      • Worked closely with CFO post-close to improve reporting and refine the company’s growth strategy
    • Media Services Company – Sub. Debt (Acquisition and Growth Capex)
      • Created projection models to support two add-on investments, tripling Praesidian’s initial investment:
      • Underwrote significant PF cost reductions to support international carve-out from a large corporate
      • Worked directly with company CEO and finance team to underwrite international business expansion. Underwriting required cost structure analysis to ensure flexibility if growth did not meet expectations
2013 Jun - 2016 Jun
Sr. Associate
PNC Capital Markets LLC / Pittsburgh
  • Syndicated bank and institutional capital raises in the large corporate and middle markets
    • Lead left and underwritten transactions
    • Covered variety of industries, including energy, coal, industrials, retail, and utilities
    • Participated in client pitches and bank meetings
  • Lead analyst in the utilities vertical; managed comps database for all syndicated utilities loans
  • Prepared pitches and proposals with capital structure, debt profile, covenant, and industry analysis
  • Created CIMs to aid in marketing underwritten and best efforts deals to potential bank groups
  • Evaluated the pro forma effects of mergers, dividend recapitalizations, and stock buybacks
  • Completed 7-week Introductory Credit Training course
  • Select Transaction Experience
    • $400 billion Revolver to Support Spinout of Coal MLP from Consol Energy
    • $2 billion RBL facility; PNC’s first lead left on an RBL facility
    • $210 million highly levered transaction for a middle market beverage distributor


2009 - 2013
University of Notre Dame du Lac
Bachelor's / Finance, Spanish