Friday, 31 October 2014
Last updated 6 hours ago
Sep 5 2012 | 1:07pm ET
Greenwich, Conn.-based distressed debt specialist Strategic Value Partners has tapped Goldman Sachs Asset Management vet Steve McGuinness as senior managing director.
McGuinness spent 19-years at Goldman Sachs & Co., serving as co-chief operating officer of Goldman Sachs Asset Management, an $850 billion global organization, from 2009 to 2011. From 2006 to 2008, he was co-head of the Goldman Sachs Special Situations Group and before that, McGuinness held a variety of leadership positions at Goldman Sachs, including co-head of leveraged finance sales and trading, co-head of European fixed income sales, global fixed income chief of staff, head of North American equity sales and chief operating officer of global compliance. He joined Goldman Sachs in 1992 and was named a managing director in 1997 and a partner in 2000.
In his new role, McGuinness will be responsible for SVP’s business development activities and will help oversee strategic initiatives and general operations. He will report to Victor Khosla, SVP’s founder and senior managing director.
“Steve McGuinness joins SVP at an exciting point in our growth” said Khosla, in a statment. “His addition brings to our team senior management and sales expertise from one of the leading financial firms, as well as deep knowledge of credit and distressed situations having grown up in the business. Steve will work closely with Jean Louis Lelogeais, who will transition from running day to day business development to focus on developing and managing strategic institutional relationships for the firm.”
SVP has invested approximately $2.2 billion over the last 20 months in U.S. and European distressed opportunities. Earlier this year, SVP closed on $918 million for Strategic Value Special Situations Fund II.
In addition to its Greenwich headquarters, SVP has offices in London, Frankfurt and Tokyo. The firm has approximately $4 billion in assets under management primarily across its distressed and deep value strategy, and its distressed-for-control private equity strategy.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.