M.D. Sass-Macquarie Back Fifth Fund Management Firm

Sep 30 2006 | 8:50am ET

M.D. Sass-Macquarie Financial Strategies, an alternative strategies private equity fund managed by M.D. Sass and the Macquarie Group, has backed a new investment firm, Crow Point Partners. The new firm will focus on investing in U.S. and foreign securities in the utility and telecom sectors.

Crow Point was co-founded by Tim O’Brien and Peter DeCaprio. O’Brien has been managing funds for Evergreen Investments since 2002, and DeCaprio most recently served as a director and senior analyst in the high-yield bond funds group of Evergreen, specializing in the utilities, technology, telecom, satellite, cable and financial services sectors.

M.D. Sass-Macquarie will provide investment expertise, marketing, client service, legal and compliance, administrative, risk management and infrastructure support, along with operating capital and initial investment capital.

The new firm has already received a vote of confidence from the Board of Trustees of the Evergreen funds, which, subject to shareholder approval, has appointed Crow Point as the sub-advisor to funds that O’Brien has been managing for the firm.

Prior to joining Evergreen in 2002, O’Brien was a senior portfolio manager at Gabelli Asset Management, where he started
and managed Gabelli Utilities Fund. O’Brien has also worked at Eaton Vance Management, Loomis Sayles & Co. and PNC Bank.

DeCaprio previously served in senior equity and high yield research positions at Thomas Weisel Partners, BancBoston Robertson Stephens and Dillon Read.

M.D. Sass-Macquarie Financial Strategies identifies and seeds traditional and alternative investment managers. Crow Point marks the fifth investment management company backed by the firm. The other four companies include: Ascent Real Estate Advisors (U.S. real estate development and mezzanine lending), Waterfall Asset Management, (high yield asset backed securities), Energy Arbitrage Management (energy futures arbitrage) and Denahi Global Investments (long/short Asian equities).


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