Blackstreet Capital Management

Last updated
Blackstreet Capital Management
Industry Private equity
Founded2002
FounderMurry Gunty
Headquarters Chevy Chase, Maryland
Website blackstreetcapital.com

Blackstreet Capital Management, LLC is a private equity firm that invests in and operates small to mid-sized distressed companies. It was founded in 2002 in Chevy Chase, Maryland, [1] by Murry Gunty, who still acts as managing partner. [2]

Contents

History

Blackstreet was founded by Gunty in 2002 as Milestone Capital Partners, in a joint venture with Milestone Merchant Partners. [3] Robert Pincus, the vice chairman of Eagle Bank; and Thomas Hale Boggs, Jr., a prominent Washington lawyer, promptly joined Blackstreet's board of advisers, providing the gravitas to attract investors. [4]

Blackstreet invests in distressed companies, aiming to prevent the company's bankruptcy and benefit investors. [5] Blackstreet funds niche manufacturers, internet and specialty retailers, distributors, restaurants, and healthcare service and device providers, among other industries. [6]

As of 2015, Blackstreet had invested in more than 30 companies, mostly ones with less than $150 million in annual revenue. [5] The company acquired AlphaGraphics, [7] Jackson & Perkins, [8] Western Capital, [9] and Jerry's Subs & Pizza. [10] It sold Florida Tile to Panariagroup of Italy, Houston Harvest Gift Products to Signature Brands, [11] [12] and PJCOMN Acquisition Corporation to Essential Pizza. [13]

In 2016, Blackstreet and Gunty agreed to pay more than $3.1 million to the Securities and Exchange Commission to settle charges that they engaged in brokerage activity and charged fees without registering as a broker-dealer and committed other securities law violations. [14]

Management

Gunty is the founder and managing partner of Blackstreet Capital. Gunty graduated from Harvard College, where he received a BA in economics, and Harvard Business School, where he received an MBA. [4] Before founding Blackstreet, Gunty was a general partner at Jacobson Partners, LP, and was a partner at Lazard Freres Real Estate, LLC. He also worked as an analyst for the Blackstone Group. [15] [16]

Gunty has sat on several boards, including Rauch Industries, American Combustion Industries, Flow Dry Technology, PJCOMN, and Florida Tile. [15]

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References

  1. ↑ "Overview". Blackstreet Capital. Retrieved 9 December 2015.
  2. ↑ "Murry Gunty Managing Partner". Bloomberg Businessweek . Retrieved 10 December 2015.
  3. ↑ "Milestone Capital Management, LLC Announces Name Change". Business Wire. 16 February 2007.
  4. 1 2 Rosenwald, Michael S. (6 October 2008). "Overview". The Washington Post .
  5. 1 2 "Company Overview of Blackstreet Capital Management, LLC". Bloomberg Businessweek. 10 December 2015.
  6. ↑ "Blackstreet Capital Raises $91 Million for Equity Fund". Business Wire. 28 January 2009.
  7. ↑ "Blackstreet Capital Affiliate Purchases AlphaGraphics". WhatTheyThink. 19 January 2012.
  8. ↑ Tierney, Jim (24 August 2010). "Blackstreet Capital Acquires Park Seed, Jackson & Perkins". Multichannel Merchant.
  9. ↑ "WCR, LLC Acquires a Controlling Interest in Western Capital". Bloomberg News. 13 April 2010.
  10. ↑ Heath, Thomas (16 June 2013). "Capital Buzz: Blackstreet Capital dines out on Jerry's Subs & Pizza". The Washington Post .
  11. ↑ "Blackstreet Capital Affiliate Sells Houston Harvest". Reuters. 25 August 2008. Archived from the original on 4 March 2016.
  12. ↑ "Blackstreet Capital Affiliate Sells Houston Harvest". Business Wire. 25 August 2008.
  13. ↑ "Blackstreet Sells Papa John's Chain". PeHUB. 8 October 2007.
  14. ↑ "PE firm settles with SEC over secondaries deal". Secondaries Investor. June 6, 2016.
  15. 1 2 "Executive Profile Murry N. Gunty". Bloomberg Businessweek. 10 December 2015.
  16. ↑ "Murry Gunty". Blackstreet Capital. Retrieved 9 December 2015.
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