 |
 | |
| Company type | LP |
|---|---|
| Industry | Private equity, Hedge fund |
| Founder | Alex Mascioli |
| Headquarters | Greenwich, Connecticut, U.S. |
| Website | www.NorthStreetLP.com |
North Street Capital, LP is a privately owned private equity and hedge fund firm based in Greenwich, Connecticut. The firm is run by Alex Mascioli, who founded the firm and is named after a street in town. The firm invests in leveraged buyouts and public and private equity. Mascioli is the company's Managing Partner and Chief Executive Officer. [1]
North Street Capital has been involved in Dutch automaker Spyker Cars, Swedish automaker SAAB Automobile and Amsterdam listed [2] Swedish Automobile N.V. (NYSE Euronext 'SWAN.AS') (The parent company to Spyker & SAAB). Alex Mascioli and SAAB Chairman & CEO Victor Muller came to a deal in which North Street would acquire the supercar maker Spyker from Swedish Automobile, which began to struggle financially with SAAB, for $43.5 million in cash, [3] [4] and the proceeds would be used to pay off company debt. Shortly after the Spyker deal was announced SAAB Automobile came into a large liquidity problem when two Chinese automakers hadn't paid their agreed investment into the Swedish company. [5] As a result, Muller and North Street Capital struck another deal in which Alex Mascioli would pay $70 million to buy 2.38 million shares of SAAB and issue a convertible note of $60 million collateralized by SAAB's assets. [6] [7] In 2011, there were some press reports that Mascioli might take over 100% of SAAB after a Chinese investment deal fell through, and in an interview with Reuters it was mentioned that he had the capacity to take over the company should he chose to do so. [8]
While the above deals were announced, none actually happened. Then SAAB CEO Victor Muller came to the conclusion that the offers were not real. [9]
North Street Capital in 2012 made an offer for Winnebago, which was not received as a serious offer. [10] [11] Mascoli's criminal record was stated as a concern by Winnebago. [12]
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