Felix Gutnikov Leaves Thorofare Capital, Adding to Leadership Hit

The leadership void is growing at Thorofare Capital.

Felix Gutnikov, who joined Thorofare in 2011 before being elevated to the role of principal and head of originations, has departed the Los Angeles-based lender, Commercial Observer has learned.

The exit of Gutnikov follows David Perlman’s decision to leave his role leading Thorofare’s New York City office early this year and relocate to Auckland, New Zealand. Thorofare also lost the head of its Dallas office, Jonathan Hart, who joined S3 Capital in June, as CO previously reported. 

It was not immediately clear what Gutnikov’s plans were. Gutnikov did not immediately return a request for comment. 

Brendan Miller, principal and chief investment officer at Thorofare, told CO that it was the company’s decision to part ways with Gutnikov as it looks to move in a “new direction” toward a “regional focused origination model.” 

“We wish him the best in whatever he decides to do,” Miller said. 

Miller said the regional model, which has been in the works for a few years, will have Andrew Kim and Paul Hachigian based in Los Angeles leading originations for California, Utah, Arizona and Nevada. Kim joined Thorofare in 2012 while Hachigian has been with the lender since 2017. 

Paul Kim, who has been with Thorofare the past nine years, will run origination efforts for Texas and the southeast region. 

Scott Sumida, an associate director at Thorofare since late 2021, will spearhead underwriting opportunities in the Pacific Northwest region. 

Jason Campbell, who arrived at Thorofare in March 2024, will cover the northeast region.

Miller said Thorofare has originated $396 million so far this year and is targeting a goal of $1 billion for 2025. 

“We thought a more regional origination model would give us more of an opportunity for a team mentality,” Miller said. “In a more regional model the team can become more submarket experts.” 

Gutnikov’s exit will surely be felt, however. He helped scale Thorofare to new heights, growing a firm with less than $100 million in assets under management in the early 2010s to more than $5 billion in lending volume in 2025 in a national platform that has grown far beyond its early California roots. Boston-based asset manager Callodine Group acquired a majority stake in Thorofare in December 2021, giving the lender a capital infusion to further expand its origination volume.

Gutnikov, Perlman and Hart were previously responsible for the vast majority of originations at the firm, sources told CO. 

Andrew Coen can be reached at acoen@commercialobserver.com