W.B. (Bud) Kirchner (Founder of Kirchner Group) partnered in 2013 with Crestline Investors, Inc. an institutional alternative investment manager to launch the new business unit on the Crestline Platform. The Kirchner team is the cornerstone of this initiative, called Crestline-Kirchner Private Equity Group. This group is focused on acquiring, managing and investing in underperforming and undervalued private equity assets, portfolios and funds. This group is led by Bud Kirchner, the architect of its proven “Successor GP” Program.
The core of the partnership is the Kirchner Group’s 30-year track record of restructuring companies. Kirchner has also been successfully deploying this model across a series of portfolios ranging from early stage venture to mid-market buyout since 2004.
Crestline Investors, Inc. is an institutional alternative investment management firm based in Fort Worth, Texas. Founded in 1997, Crestline manages approximately $8 billion in client assets across separately managed accounts and commingled funds. Strategies offered include: (1) low volatility and customized hedge fund of funds, (2) opportunistic and customized investment programs including a family of opportunistic strategies, hedge fund secondary investments and private credit funds and (3) tailored beta and hedging strategies. Crestline has 84 employees with 42 investment professionals.
The business unit will focus on the following:
- Successor General Partner: Acting as a fiduciary to replace or complement the general partner in order to help better align interests, find liquidity and maximize value for limited partners.
- Advisory Services for Limited Partners: Managing or monitoring an existing troubled portfolio of private equity funds on behalf of limited partners.
- Successor Fund Creation: Consolidating direct private equity investments into a fund structure to help manage, monitor and exit positions on behalf of a direct private equity investor or group of investors.
- Investment Opportunities: Sourcing and structuring investment opportunities derived from the aforementioned activities, including:
- Secured lending and/or investments in private equity portfolios to provide follow-on capital at the portfolio level
- Secondary purchases of some or all of a fund’s limited partnership interests
- Providing follow-on capital at the underlying company level
The business will be headquartered in Fort Worth, with additional offices in New York City and Toronto.
Read the press release here.
For more information contact:
David Philipp, CFA
+1 (415) 990 9177