Fri, Dec 19, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

MKP Capital Management announces principal appointments and sale of passive, minority interest

Tuesday, January 08, 2013
Opalesque Industry Update: MKP Capital Management, L.L.C., a diversified alternative asset manager, today announced the promotions of Jason Bonanca, Head of Strategy and Research, Henry Lee, Chief Risk Officer, and Richard Lightburn, Senior Portfolio Manager, from Partners to Managing Members. All three new Members have been long-term contributors to MKP’s management team. The formal elevation of Messrs. Bonanca, Lee and Lightburn is a part of MKP’s long-term strategy to build and secure the next generation of leadership that will enhance the Firm’s foundation and future growth.

“MKP’s long-term approach includes a formal process to cultivate, mentor and elevate the next generation of leaders,” said Patrick McMahon, MKP’s Founder and CEO. “This process has resulted in the development of a stronger leadership team at MKP. Jason, Henry and Richard’s appointments reinforce our efforts to build a world class investment management firm.”

The three new Managing Members join existing Members: Mr. McMahon, Anthony Lembke, Co-Chief Investment Officer, and Thomas DeVita, Chief Operating Officer and Chief Financial Officer.

MKP also announced the sale of a passive, non-voting, minority stake in the Firm to Dyal Capital Partners, a permanent capital vehicle affiliated with Neuberger Berman Group LLC. This new relationship, coupled with the elevation of new Members, allows MKP to broaden employee ownership and long-term leadership, as well as develop stronger relationships with Dyal’s institutional clients.

“Partnering with MKP aligns Dyal with what we view as one of today’s preeminent hedge fund managers,” Michael Rees, Senior Portfolio Manager for Dyal Capital Partners, said. “We believe that MKP has become best-in-class because of their highly experienced management team, their 17-year track record and the diversity of their product platform. We look forward to a long-termrelationship of continued success.”

As part of thetransaction, the after-tax proceeds have been reinvested in MKP’s three commingled strategies.

Dyal Capital Partners has no control on the investment process or day-to-day operations at MKP.

The terms of the transaction were not disclosed. MKP was advised by Schulte Roth & Zabel LLP. Dyal was advised by Fried, Frank, Harris, Shriver & Jacobson LLP.

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  4. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und

  5. Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010[more]

    Lansdowne, Man Group, other hedge funds profit from shorts in oil From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar