BSMB Announces Plans to Become Independent Private Equity Firm.NEW YORK -- Bear Stearns Merchant Banking (BSMB BSMB Bear Stearns Merchant Banking ), a leading private equity firm focused on middle-market investments, today announced that it soon will become an unaffiliated independent company. The Bear Stearns Companies Inc., a subsidiary of JPMorgan Chase & Co., will retain a passive interest in certain affiliates of BSMB and will continue to be responsible for co-investment commitments with respect to funds currently managed by BSMB. BSMB intends to change its name and will move its operations from its current location to new offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . BSMB will continue its investment strategy that revolves around its deep industry expertise in both its core (retail/consumer, financial services) and emerging (energy, industrial, healthcare, packaging, transportation) focus areas and establishing close partnerships with world-class managers and entrepreneurs. The firm utilizes creative and flexible approaches in structuring investments in order to suit the needs of portfolio companies and sellers. The Partners of BSMB have a long and successful history in the private equity industry dating back to the 1980s and are known for seeing value where others do not and for helping to build and grow industry-leading companies. "We are pleased to transition into this new stage of our business," said John D. Howard John D. Howard is CEO of Bear Stearns Merchant Banking Group and Senior Managing Director of Bear Stearns and Company. He is the manager of the $3 billion Bear Stearns Merchant Banking Fund III. Howard has more than 20 years of experience in the private equity business. , Chief Executive Officer of BSMB. "We have built a successful investment portfolio, strategy and team of more than fifty professionals over the past eleven years. While we will be an independent entity, our strategy, industry focus, portfolio and current funds will remain in place." ABOUT BSMB: BSMB invests private equity capital in compelling buyouts, recapitalizations and growth capital opportunities alongside superior management teams. BSMB focuses on making control or entrepreneur-driven investments. Since its formation in 1997, BSMB has been an investor in 67 portfolio companies. BSMB manages nearly $5 billion of private equity capital, including its current $2.7 billion institutional fund and capital dedicated to its affiliate, Bear Growth Capital Partners. Current investments by BSMB include: Alter Moneta, Balducci's, CamelBak Products, Caribbean Financial Group, Cavalry Investments, Churchill Financial Holdings, Doral Financial Corporation Doral Financial Corporation is a financial holding company located in San Juan, Puerto Rico which offers a full range of financial services in Puerto Rico and the New York City metropolitan area through its wholly owned subsidiaries. (NYSE NYSE See: New York Stock Exchange : DRL DRL Bureau of Democracy, Human Rights and Labor (US State Department) DRL Daytime Running Lights DRL Department of Regulation and Licensing (real estate) DRL Dr Reddy's Laboratories ), MC Shipping, Multi Packaging Solutions, New York & Company (NYSE: NWY), PlayCore, Rimrock Rimrock is the sheer rock wall at the upper edge of a plateau, canyon, or geological uplift. It may refer to either the rock formation or to the rock itself. Rimrock may be composed of almost any stone—basalt, gneiss, granite, sandstone, etc.—and is frequently layered. Energy, Stuart Weitzman, Transamerican Auto Parts Company, Universal Hospital Services and The Vitamin Shoppe. Prior investments include Aearo Technologies, Aeropostale, Reddy Ice Holdings, and Seven For All Mankind 7 For All Mankind (often referred to simply as Seven or Seven Jeans) is a California-based designer jeans company founded by Michael Glasser, Peter Koral, and Jerome Dahan in 2000. The company is headquartered in Vernon, California. , among others. More information about BSMB is available at www.bsmb.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion