Auda Names Lichter as Head of Secondary Private Equity Investing; Addressing investors' need for exit strategies in existing investments.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 27, 2002 The Auda Group (www.auda.net) today announced that Richard C. Lichter has joined Auda as a Managing Director and head of its secondary private equity investing group, strengthening and complementing its existing capabilities in primary investments and co-investments with leading buyout and venture capital managers. Prior to joining Auda, Lichter, 41, was a Managing Director at Lexington Partners, where he was primarily engaged in transaction origination and the valuation of secondary purchases of buyout and mezzanine limited partnership interests. He was also responsible for transaction origination of secondary purchases from Japanese institutions. Marcel Giacometti, President of Auda, said, "Richard is one of the most experienced players in the secondary market for private equity partnerships in terms of origination and valuation. Hands-on involvement in developing this market over the last eight years gives him a unique advantage in recognizing how the existence of a thriving secondary market expands and enhances the primary market." He added, "Auda will continue to respond to the needs of many large private equity investors for increased liquidity as their asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. requirements change. With Richard's leadership in secondary purchases and our existing strengths in primary investments and co-investments, Auda offers a full range of capabilities to the private equity investor." Prior to Lexington, Lichter was a Director at Landmark Partners and also a vice president in investment banking at Merrill Lynch Capital Markets. He received an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from MIT Sloan School of Management The MIT Sloan School of Management is one of the five schools of the Massachusetts Institute of Technology, located in Cambridge, Massachusetts, USA. It is one of the world's leading business schools, conducting research and teaching in finance, entrepreneurship, marketing, and a BA from Dartmouth College with Phi Beta Kappa Phi Beta Kappa: see fraternity. Phi Beta Kappa Leading academic honour society in the U.S., which draws its membership from college and university students. The oldest Greek-letter society in the U.S. honors. The Auda Group (www.auda.net) is a leading international investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and that specializes in alternative investments, such as buyout and venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: , hedge funds and, through an affiliate, in real estate. Founded in 1989 in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Auda markets its products and services to institutional investors and high net worth individuals in the U.S. and Europe. As of year-end 2001, Auda has over $1.7 billion in committed capital across private equity, hedge funds and real estate. For more information, please contact Susan Rodriguez at 212-863-2339 or rodriguez@auda.net |
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