Sat, Jun 24, 2017
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. Legal - Bond market concerns could scuttle Paulson's Fannie-Freddie plan[more]

    From Bloomberg.com: A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. The Moelis & Co. blueprint, which firms including Paulson & Co. and Blackstone Group LP sponsored,

  2. Other Voices: Are your pricing policies and procedures for less liquid instruments adequate?[more]

    Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is

  3. FinTech - AI hedge fund Numerai now live on Ethereum, Cryptocurrency hedge funds generate huge returns as bitcoin surges[more]

    AI hedge fund Numerai now live on Ethereum From Cryptoninjas.net: Back in February, Numerai announced numeraire (NMR), a cryptographic token to incentivize a new kind of hedge fund built by a network of data scientists. Earlier today, the Numeraire smart contract was officially deployed

  4. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to

  5. Barclay Hedge Fund index gains 0.50% in May, 4.13% YTD[more]

    Hedge funds gained 0.50% in May according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 4.13% in 2017. The Barclay Hedge Fund Index has now been profitable for seven months in a row, with a cumulative gain of 6.10%. The Barclay Technology Index has gained 12.27% in the fi