Sunday, 7 February 2016
Last updated 1 day ago
Jun 18 2014 | 2:23pm ET
Boston-based private investment firm Easterly Capital has tapped Fortress Investment Group vet Andrew P. Dempsey as a managing director.
Dempsey, who will be responsible for capital formation and business development in his new post, was formerly COO of Fortress' permanent capital business group and a managing director. Prior to that, he was the global head of capital formation for the liquid markets business at Fortress. Before joining Fortress in 2005, Dempsey was a regional director for Allegiance Capital with responsibility for marketing and distribution of fixed-income products for the southwest United States and Mexico. Earlier, he was a fixed-income specialist for the Enterprise Unit at SEI Investments.
Easterly, founded by former Affiliated Managers Group CFO Darrell Crate, has made a number of recent hires, including that of another Fortress vet, David Cody, who will oversee the firm's distribution capabilities and J. C. Flowers & Co. alumnus Avshalom Kalichstein, who is responsible for origination and underwriting.
“Andrew Dempsey has built a reputation for helping to grow businesses while providing access to extraordinary opportunities for institutions and other investors,” said Crate in a statement. “Andrew will be an excellent addition to our growing roster of accomplished private investment executives as we continue to identify and create products for clients that achieve specific risk-return objectives at a fair cost.”
Easterly Capital is a private asset management firm that develops both alternative and traditional investment vehicles to satisfy the specific risk-return objectives of clients. Easterly’s products are comprised of real estate, natural resources, and financial assets, including those in niche, non-bank finance markets. Through an affiliate, Washington, D.C.-based Easterly Partners, Easterly invests in a highly specialized segment of the U.S. Government-leased real estate market.
As of March 31, 2014, Easterly Capital, through its affiliated entities, managed over $1 billion of assets, mostly in private equity and alternative vehicles for institutional and ultra-high-net-worth investors.