Management Team

Patrick J. MacKrell, Chief Executive Officer

Patrick MacKrell is chief executive officer of Excelsior Growth Fund (EGF), and president and chief executive officer of New York Business Development Corporation (NYBDC) and The 504 Company (also known as Empire State Certified Development Corporation). 

Prior to joining NYBDC in 2001, Pat practiced commercial and banking law in New York, representing a number of financial institutions and businesses. Pat is a veteran of the United States Marine Corps having served at a number of posts and stations prior to his release from active duty as a Major. He is a graduate of York College of the City University of New York and Albany Law School. He is admitted to practice law in the state and federal courts in New York State. 

Pat is a member of numerous boards including the The New York State Small Business Development Center Advisory Board and New York State Economic Development Council. Additionally, he serves as chairman of the board of the National Association of Development Companies (NADCO). 


Steven Cohen, President 

Steven_CohenSteven Cohen is president of Excelsior Growth Fund (EGF). Prior to joining EGF in 2015, Steven was executive vice president and deputy commissioner at Empire State Development, where he led the Department of Small Business Services and Community Economic Development.  Under his leadership, the agency launched new access to capital and business advisory programs totaling over $200 million, leveraging $1 billion in private investment. 

Steven also previously served as senior vice president for Seedco Financial Services where he worked in executive management and economic development, as well as loan portfolio management. He also founded and ran a music production company in San Francisco.

Steven has a bachelor’s degree from UC Berkeley and a master’s in public administration from Harvard’s Kennedy School.


Dave Hanold, Chief Lending Officer

Dave Hanold is the Chief Lending Officer at Excelsior Growth Fund (EGF) and serves as the primary officer for all loans, staff training, and lending operations. Prior to his current role, Dave served as a loan officer for affiliate New York Business Development Corporation (NYBDC) and EGF for more than six years, leading the company’s U.S. Small Business Administration (SBA) 7(a) lending activity in New York City.

Before joining the NYBDC and EGF team, Dave completed two years of service with Americorps, where he worked on multiple projects to advance education, public safety, and disaster relief initiatives. His second year of service was with Seedco, a national nonprofit that advances economic opportunity for underserved people and communities. There, he partnered with NYC Department of Small Business Services to provide tax preparation assistance to low income families and worked directly with small business owners to secure funding.

Dave holds a BA in International Studies and Environmental Studies from Macalester College in St. Paul, Minnesota.