Star Mountain Capital is an employee-owned, specialty private credit and secondary investment manager with approximately $4 billion in assets under management with the goal of systematic alpha and low market-correlated returns for its clients, and is led by Frank Porcelli. announced that he has joined the company as a senior advisor.
New York, March 21, 2024–(BUSINESS WIRE)–Fast growing specialty private credit and secondary investments targeting systematic alpha and low market correlated returns for global institutional and high net worth investors. Star Mountain Capital LLC (“Star Mountain”), a company, is pleased to announce that Frank Porcelli has joined the firm as a senior advisor. Star Mountain is one of the largest teams focused on investing in established and profitable small and medium-sized U.S. private companies (the “lower middle market”), which account for approximately 50% of U.S. GDP. It has one.
Frank Porcelli has a distinguished career spanning over 30 years in asset and wealth management. During his time at BlackRock (NYSE: BLK), one of the world's largest asset management firms with approximately $10 trillion in assets under management, he led the firm's U.S. wealth business and served as a member of its steering committee. We supported the division's expansion of assets under management. From $250 billion to $1 trillion.
Mr. Porcelli retired after 14 years with BlackRock, where he served as a member of its management committee and as head of the firm's U.S. wealth advisory business. As head of US Wealth Advisory, he was responsible for integrating iShares and Active Coverage, creating an independent channel and shifting BlackRock's strategic focus from product sales to portfolio construction.
“We welcome Frank to Star Mountain as an affiliate senior advisor and bring extensive strategic leadership, business management, and client service experience to the company,” said Brett Hickey, founder and CEO of Star Mountain Capital. I am honored to bring it to you.” “His experience helping build a strong customer service organization at BlackRock provides investors with the best possible service in reaping the benefits of the large, but not efficient, U.S. lower middle market. It helps me keep going.”
“Having experienced the results of my own portfolio as an investor at Star Mountain, I am excited to join as a senior advisor,” said Frank Porcelli. “Many institutional and high-net-worth investors benefit from the higher returns and lower market correlation that Star Mountain targets through its proprietary platform in this large and inefficient U.S. lower middle market. I believe it can be done.”
Prior to joining BlackRock, Mr. Porcelli spent six years as Managing Director of Institutional Sales and Consultancy Relations at Putnam Investments and three years as Director of Corporate Asset Management Services at Goldman Sachs. He previously held various positions at Smith Barney & Co., including Director of Retirement Services, Head of Unit Investment Trusts, Chief Operating Officer and Strategic Planning Manager for Smith Barney Mutual Funds.
Mr. Porcelli currently serves as Managing Partner of Convergency Partners, a unique advisory and consulting business focused on developing and executing growth strategies for wealth management, wealth management and financial technology clients.
He earned a bachelor's degree in accounting from Pace University and serves on the board of directors for Partnership Schools, a nonprofit organization that supports elementary school education in underserved communities.
About Star Mountain
With approximately $4 billion in assets under management (committed capital, including debt facilities, as of February 29, 2024), Star Mountain takes a data-driven approach to invest in North America's We invest in the middle market. (i) direct debt and equity investments; and (ii) secondary (acquisition of LP interests and direct assets and execution of primary LP commitments). These complementary strategies provide institutional and accredited high-net-worth investors with data-powered access to established companies that typically have at least $15 million in annual revenue and less than $50 million in EBITDA. We believe it will be scalable, provide diverse, and customizable access. Its investors include public and private pensions, insurance companies, commercial banks, endowments, foundations, family offices, and high net worth individuals. Star Mountain is 100% employee-owned and shares profits with his 100% of full-time employees in the U.S. as part of our focus on maximizing stakeholder and investor value through profit alignment. .
Since 2010, Star Mountain has made more than 200 direct investments in companies and more than 40 secondary/fund investments within the Collaborative Ecosystem®, focusing on the North American lower middle market. One of Star Mountain's specialties is seeking current cash income for investors that significantly exceeds the typical yields found in the public markets, often through its unique composition, underwriting, and value proposition. Through, potential long-term capital gains involve stock returns and low correlation with public markets. – Added investment function.
Star Mountain was recently named one of the Inc. 5000 fastest growing privately held companies in the United States.
Star Mountain has once again been named one of the Best Places to Work for the fifth year in a row. Crain's New York operations Once again selected as one of the “Great Places to Work” Pensions and investments.
Star Mountain believes that its focus and dedication has been productive in job creation and economic development, including in underserved areas and communities. Star Mountain is dedicated to this large market of underserved businesses and aims to address the challenges and opportunities for these companies. As part of the effort, Star Mountain is filing a trademark. Investing in America's growth engine ®.
A nonprofit 501(c)3, Star Mountain's Charitable Foundation focuses on improving lives through economic development, including job creation, health and wellness, and cancer research. Notable missions include helping match veterans and women with high-quality small business career opportunities across the country, including within Star Mountain's portfolio.
Note: This does not constitute an offer to sell or a solicitation of an offer to buy any interest in any investment product. Awards and recognition by non-affiliated rating services, companies, and/or publications represent a certain level of results achieved by a client or prospective client with Star Mountain's involvement or continued involvement. It should not be construed as a guarantee that the , to provide investment advisory services. Nor should they be construed as any current or past approval, endorsement, recommendation or referral by any customer or other third party of Star Mountain or its representatives. Rankings published by magazines and others are typically based solely on information created and/or submitted by certified advisors. Additionally, with respect to all performance information contained herein, the reader is cautioned that past results are not indicative of future results, whether direct or indirect. The description and selection methods for each award or recognition are subjective and may vary.
Awards and recognition by non-affiliated rating services, companies, and/or publications by customers or prospective customers will result in a certain level of success when SMFM is involved or continues to be involved. It should not be construed as a guarantee. , to provide investment advisory services. Nor should it be construed as any current or past approval, endorsement, recommendation or referral by any client or other third party of SMFM or its representatives. Rankings published by magazines and others are typically based solely on information created and/or submitted by certified advisors.
Crain's two-part research process consisted of evaluating each named company's workplace policies, practices, philosophy, systems, and demographics. The second part involved an employee survey to measure employee experience. The top companies and final ranking were determined based on the overall score. Star Mountain is required to pay a fee to Crain's solely for the purpose of survey collection. Detailed eligibility criteria can be found here. https://bestcompaniesgroup.com/best-companies-to-work-for-in-new-york/eligibility/
Will be appointed to P&I'All companies on the Best Places list meet the Best Companies criteria and are evaluated against companies of similar size. The individual company profiles compiled from the survey reflect U.S. employment and were confirmed by Best Companies in the summer. Company and employee comments have been edited for space, style and clarity. Assets under management or under advisement are as of June 30 unless otherwise specified. To participate, companies had to have at least 20 employees in the United States, manage or advise on at least $100 million in discretionary assets, and have been in business for at least one year. An anonymous employee survey aimed at assessing employee engagement and satisfaction accounted for 75% of the company's score. Employer surveys that assessed workplace policies, practices, benefits, and demographics accounted for 25%. https://bestcompaniesgroup.com/best-places-to-work-in-money-management/eligibility/
Companies on the 2023 Inc. 5000 are ranked based on revenue growth from 2019 to 2022. To be eligible, businesses must be established and profitable by March 31, 2019. We are based in the United States, privately held, for-profit, and independent as of December 31, 2022 and not a subsidiary or division of any other company. (Some of the companies on the list may have gone public or been acquired since then.) The minimum revenue required for 2019 is $100,000. The minimum amount for 2022 is $2 million. As always, Inc. reserves the right to reject applicants for subjective reasons. Growth rates used to determine rankings were calculated to four decimal places. https://www.inc.com/inc5000
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contact address
John Polis – Media@StarMountainCapital.com
