{"id":4859,"date":"2006-08-10T00:00:00","date_gmt":"2006-08-10T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"md-sass-and-macquarie-group-form-new-joint-venture","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2006\/md-sass-and-macquarie-group-form-new-joint-venture.html","title":{"rendered":"MD Sass And Macquarie Group Form New Joint Venture"},"content":{"rendered":"

NEW YORK, August 10, 2006<\/span><\/strong> \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 MD Sass, a leading investment management firm, and the Macquarie Group, a global financial services organization, today announced theestablishment of a new joint venture. The partnership will manage a $273 million alternative strategies private equity fund initially formed by MD Sass. The fund has been renamed M.D. Sass-MacquarieFinancial Strategies, L.P. (the Fund), and will continue to make seed investments in innovative, specialized investment management companies in addition to the four investment management companiesalready established by the Fund.
<\/span> 
<\/span>The Fund sources, seeds and grows investment managers by providing them with access to seed capital, institutional oversight,operational and marketing support as well as by taking an active role in their corporate governance and risk management.
<\/span> 
<\/span>Macquarie and the three MD SassFinancial Strategies\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2 founding principals, Martin D. Sass, Hugh Lamle and Steven Shenfeld, jointly manage the Fund. Messrs Sass and Lamle are well known in the US asset management industry with a34-year track record of successfully identifying and growing new managers across a broad range of asset sectors and strategies. Under the joint venture, Macquarie has committed to invest $110 millionover the Fund\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s investment period and shares governance of the Fund\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s general partner and management company.
<\/span>  
<\/span>Martin D. Sass, Chairman and Chief ExecutiveOfficer of MD Sass said, \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThis is a unique and powerful partnership which will build the next generation of investment managers globally. The joint venture combines MD Sass\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2 established expertise inidentifying and supporting emerging investment managers with Macquarie\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s global product structuring and strong distribution capabilities.
<\/span> 
<\/span>\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cMacquarie\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2ssubstantial financial commitment to the Fund means our capital raising process is complete and we can focus on sourcing additional investment managers and growing them over time. Macquarie\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s globalpresence, particularly in the Asia-Pacific region, complements MD Sass\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2 existing US based team and well-established track record.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d
<\/span>  
<\/span>Oliver Yates, a Director ofthe Fund\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s general partner and management company and Executive Director of Macquarie Bank Limited said, \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThis new venture fits well with Macquarie\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s strategy of investing in and growing specialistinvestment managers who can benefit from our product structuring and global distribution expertise. Our global clients such as pension funds are actively seeking investment management partners tomanage money in new and innovative ways in order to boost overall portfolio returns. We value MD Sass\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2 strong track record of innovation, manager incubation and performance over thelong-term.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d
<\/span> 
<\/span>Hugh Lamle, President of MD Sass, said, \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cA major part of our strategy, when we initially formed the fund, was to create a relationship with a firstclass global partner. In Macquarie we have found the ideal strategic partner. We have long admired the innovative products developed by Macquarie and their culture. We are now even better positionedto partner with talented and experienced entrepreneurial investment professionals and provide them with a unique global infrastructure to support theirsuccess.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d
<\/span> 
<\/span>As of June 30, 2006, the Fund had established four investment managers:
<\/span><\/p>\n\n\n\n\n\n\n
Manager
<\/span><\/strong> <\/td>\n		 Strategy
<\/span><\/strong> <\/td>\n<\/tr>\n
Ascent Real Estate Advisors
<\/span> <\/td>\n		 US Real Estate
<\/span> <\/td>\n<\/tr>\n
Waterfall Asset Management
<\/span> <\/td>\n		 High Yield Asset Backed Securities
<\/span> <\/td>\n<\/tr>\n
Energy Arbitrage Management
<\/span> <\/td>\n		 Energy Futures
<\/span> <\/td>\n<\/tr>\n
Denahi Global Investments
<\/span> <\/td>\n		 Asian Equities
<\/span> <\/td>\n<\/tr>\n<\/table>\n

 
<\/span>The Fund will seek to partner with ten or more additional investment management teams over the next three years.
<\/span> 
<\/span>About MD Sass
<\/span><\/strong>MD Sass has been a leading name in investment management since 1972. Today MD Sass and its affiliates have $8 billion inassets under management and employ over 100 people. MD Sass offers both traditional and alternative investment strategies in the form of private equity funds, hedge funds and substantial separatelymanaged accounts. Its clients include major corporations, financial institutions, state and local governments, endowment funds, foundations, Taft Hartley funds and high net worth individuals. Formore information, visit www.mdsass.com
<\/span>  
<\/span>About Macquarie
<\/span><\/strong>The Macquarie group (Macquarie) is a diversified international providerof specialist financial and investment banking services around the world with total assets under management of $111 billion (as of June 30, 2006). Macquarie has a strategy of developing and workingwith investment managers to originate, structure and distribute products and funds. Headquartered in Sydney, Australia, the Macquarie group comprises Macquarie Bank Limited (MBL), a leadingAustralian investment bank and its subsidiaries and affiliates worldwide. Macquarie listed on the Australian Stock Exchange in 1996, and now employs over 8,600 people in 24countries.
<\/span> 
<\/span>For further information, please contact:
<\/span><\/strong><\/p>\n\n\n\n
Hedda Nadler
<\/span> <\/td>\n		 Tom Pinto
<\/span> <\/td>\n<\/tr>\n
Mount & Nadler
<\/span>(212) 759 4440
<\/span> <\/td>\n		 Mount & Nadler
<\/span>(212) 759 4440
<\/span> <\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, August 10, 2006 \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 MD Sass, a leading investment management firm, and the Macquarie Group, a global financial services organization, today announced theestablishment of a new joint venture. The partnership will manage a $273 million alternative strategies private […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4859","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4859"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4859\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}