{"id":655840,"date":"2013-05-02T14:56:05","date_gmt":"2013-05-02T18:56:05","guid":{"rendered":"https:\/\/www.pehub.com\/?p=199618"},"modified":"2013-05-02T14:56:05","modified_gmt":"2013-05-02T18:56:05","slug":"kirchner-and-crestline-launch-new-pe-group","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/655840","title":{"rendered":"Kirchner and Crestline Launch New PE Group"},"content":{"rendered":"

\"\"<\/a>Kirchner Group<\/strong>, which provides asset management services to institutional investors, and operational and transactional support to companies, has partnered with\u00a0Crestline Investors Inc.<\/strong> on a new initiative focused on acquiring, managing and investing in under-performing private equity assets, portfolios and funds.\u00a0Crestline-Kirchner Private Equity Group<\/strong>\u00a0will be led by\u00a0W.B. (Bud) Kirchner<\/strong>, founder of Kirchner, which has offices in\u00a0Montr\u00e9al and Gadsden, Alabama.<\/p>\n

PRESS RELEASE:<\/strong><\/p>\n

Kirchner Group, today announced that it has partnered with Crestline Investors, Inc. (\u201cCrestline\u201d), an institutional alternative investment manager, to launch a new business unit on the Crestline platform. The Kirchner team will be the cornerstone of this initiative, called Crestline-Kirchner Private Equity Group, focused on acquiring, managing and investing in underperforming private equity assets, portfolios and funds. Crestline\u2019s new business line will be led by W.B. (Bud) Kirchner, founder of the Kirchner Group and architect of its \u201cSuccessor GP\u201d Program.<\/p>\n

This business complements Crestline\u2019s industry leading position in hedge fund secondary investing and allows the firm to provide a full-service solution to institutions with underperforming private equity and hedge fund portfolios. It also adds significant opportunities for Crestline to deploy capital on behalf of its investors.<\/p>\n

\u201cWe are pleased to welcome Bud and his team to Crestline and to add a powerful new business to our institutional platform,\u201d said Douglas K. Bratton, President and Chief Investment Officer of Crestline. \u201cThe team brings to Crestline a 28-year track record of restructuring companies and has been successfully deploying its model across a series of portfolios ranging from early stage venture to mid-market buyout since 2004.\u201d<\/p>\n

There is an estimated $100 billion in private equity assets managed by funds past their investment periods, according to industry estimates. Many of these so-called \u201czombie funds\u201d have serious issues of alignment between the general partner and limited partners. As a result, an increasing number of institutional investors are looking for creative and effective ways to restructure these funds and rationalize their private equity portfolios.<\/p>\n

\u201cThis partnership provides tremendous validation of a model that we pioneered years ago at Kirchner Group,\u201d said Bud Kirchner. \u201cLimited partners are realizing that there are alternative solutions to underperforming funds, and now is the right time for us to scale up to meet rapidly increasing market demand. I am excited to join with Crestline to continue building on the business lines that we have developed, giving us the institutional infrastructure and access to capital to best serve investors.\u201d<\/p>\n

The new business unit will focus on the following:<\/p>\n

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.
\nAdvisory Services for Limited Partners: Managing or monitoring an existing troubled portfolio of private equity funds on behalf of limited partners.
\nSuccessor 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.
\nInvestment Opportunities: Sourcing and structuring investment opportunities derived from the aforementioned activities, including:
\nSecured lending and\/or investments in private equity portfolios to provide follow-on capital at the portfolio level
\nSecondary purchases of some or all of a fund\u2019s limited partnership interests
\nProviding follow-on capital at the underlying company level
\nThe business will be headquartered in Fort Worth, with additional offices in New York City and Toronto.<\/p>\n

About Kirchner Group
\nThe Kirchner Group provides asset management services for institutional investors as well as operational and transactional support for companies. Kirchner Group\u2019s proprietary platform is built on the premise that pairing deep domain expertise with process experts provides superior results. Kirchner Group manages assets on behalf of some of the world\u2019s largest insurance companies, commercial banks and institutional investors. In addition, our transaction and operational clients range from some of the most promising entrepreneurs, to Fortune 500 companies and their investors.<\/p>\n

Bud Kirchner is the designer and architect of several proprietary business method models including \u201cPortfolioWorks\u201d and \u201cCrystallizing Value in Intellectual Property,\u201d with over 40 years of successful entrepreneurial, operational, transactional and international experience in numerous private equity and debt investment scenarios. He has been a principal or agent in over 300 financings, mergers, acquisitions, divestitures, workouts and turnarounds.
\nwww.kirchnergroup.com<\/p>\n

About Crestline Investors, Inc.
\nCrestline Investors, Inc. is an institutional alternative investment management firm based in Fort Worth, Texas. Founded in 1997, Crestline manages $7.2 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.
\nwww.crestlineinvestors.com<\/p>\n

For more information, please contact:
\nDavid Philipp
\ndphilipp@kirchnergroup.com
\n(415) 990-9177<\/p>\n

Photo courtesy of Shutterstock<\/a>.<\/em><\/p>\n

The post Kirchner and Crestline Launch New PE Group<\/a> appeared first on peHUB<\/a>.<\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Kirchner Group, which provides asset management services to institutional investors, and operational and transactional support to companies, has partnered with\u00a0Crestline Investors Inc. on a new initiative focused on acquiring, managing and investing in under-performing private equity assets, portfolios and funds.\u00a0Crestline-Kirchner Private Equity Group\u00a0will be led by\u00a0W.B. (Bud) Kirchner, founder of Kirchner, which has offices in\u00a0Montr\u00e9al […]<\/p>\n","protected":false},"author":7606,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-655840","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/655840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7606"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=655840"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/655840\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=655840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=655840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=655840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}