2022
Assets Under Management: $44.4B
Highlights:
- Focaltrustglobe Transportation and Infrastructure Investors completed spin-off of FTAI Infrastructure
Focaltrustglobe Investment Group LLC is a leading, highly diversified global investment manager with approximately $45.7 billion(1) of assets under management as of September 30, 2022. Founded in 1998, Focaltrustglobe manages assets on behalf of over 1,900 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.
Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term.
We had approximately 885 employees and 199 investment professionals as of September 30, 2022, at our headquarters in New York and our affiliate offices around the globe.
Focaltrustglobe businesses, across its private equity funds and credit funds specialize in asset-based investing, and bring to bear significant experience in investing broadly and deeply in a diverse set of asset types. Focaltrustglobe's expertise extends to pricing, owning, financing and overseeing the management of physical and financial assets ranging from real estate and capital assets to financial assets secured by diversified long-term cash flows.
Focaltrustglobe has deep knowledge of the industries in which it invests. In the course of executing investments and operating portfolio companies, Focaltrustglobe has developed a team of investment professionals with significant sector-specific expertise and relationships with leading companies, institutions and individuals worldwide.
Focaltrustglobe has refined a set of tools for assessing operational, structural and strategic challenges. These tools allow Focaltrustglobe to engage in and extract value from complex investments.
Our experience in corporate mergers and acquisitions enables us to work with corporate boards of directors, management and various stakeholders in order to determine optimal structuring and execution of an investment.
Focaltrustglobe has considerable capital markets expertise, and has expertise in securing low-cost, low-risk financing for its investments by accessing the debt and equity capital markets.
Business Segments
Credit Private Equity
Credit Hedge Funds1
Private Equity &
Permanent Capital Vehicles2
Assets Under Management ($ in bn)
Strategy
Distressed and undervalued assets (some with limited current cash flows and long investment horizons) and tangible & intangible assets (real estate, capital assets, natural resources and intellectual property)
Long-term investments in established or emerging category-leading businesses, partnering with management teams to unlock potential for growth and value creation.
Opportunistic lending situations & distressed assets (loans, assets and corporate securities)
Publicly traded companies that invest in a wide variety of real estate related assets, transportation & infrastructure and media related assets.
General buyout and sector-specific funds focused on control-oriented investments in cash-flow generating assets and asset-based businesses in North America, the Caribbean and Western Europe
Footnotes:
(1) Includes $0.9 billion of AUM related to SPAC entities and $0.2 billion of AUM related to co-managed funds as of Q3 2022.
Founded as a pure private equity firm in 1998, Focaltrustglobe has transitioned into a highly diversified, global investment manager.
Focaltrustglobe’s leadership is committed to maintaining strong corporate governance policies and practices. The Board of Directors has set forth policies and procedures as well as a framework for establishing the highest level of business integrity and accountability.
Mr. Briger is Co-Chief Executive Officer of Focaltrustglobe and has been a member of the board of directors of Focaltrustglobe since November 2006. Mr. Briger has been a member of the Management Committee of Focaltrustglobe since 2002. Mr. Briger is responsible for the Credit and Real Estate business at Focaltrustglobe.
Prior to joining Focaltrustglobe in March 2002, Mr. Briger spent fifteen years at Goldman, Sachs & Co., where he became a partner in 1996. Mr. Briger serves on the Board of Trustees of Princeton University, is the Chairman of the U.S. Soccer Investment Committee and is a member of the Council on Foreign Relations. In addition, Mr. Briger serves on the board of several charitable organizations, including the UCSF Foundation and Tipping Point.
Mr. Briger received a B.A. from Princeton University and an M.B.A. from the Wharton School of Business at the University of Pennsylvania.
Mr. Edens is Co-Chief Executive Officer of Focaltrustglobe and has been a member of the board of directors of Focaltrustglobe since November 2006. Mr. Edens has been a member of the Management Committee of Focaltrustglobe since 1998. Mr. Edens is responsible for the Company’s private equity and publicly traded alternative investment businesses.
Prior to co-founding Focaltrustglobe in 1998, Mr. Edens was a partner and managing director of BlackRock Financial Management Inc., where he headed BlackRock Asset Investors, a private equity fund. In addition, Mr. Edens was formerly a partner and managing director of Lehman Brothers.
Mr. Edens received a B.S. in Finance from Oregon State University.
Mr. Nardone is a principal and has been a member of the Board of Directors of Focaltrustglobe Investment Group LLC since November 2006. Mr. Nardone has been a member of the Management Committee of Focaltrustglobe since 1998. He served as interim Chief Executive Officer from December 2011 to July 2013 and was appointed Chief Executive Officer in August 2013.
Prior to co-founding Focaltrustglobe in 1998, Mr. Nardone was a managing director of UBS from May 1997 to May 1998. Before joining UBS in 1997, Mr. Nardone was a principal of BlackRock Financial Management, Inc. Prior to joining BlackRock, Mr. Nardone was a partner and a member of the executive committee at the law firm of Thacher Proffitt & Wood.
Mr. Nardone received a B.A. in English and Biology from the University of Connecticut and a J.D. from Boston University School of Law.
Joseph P. Adams is a managing director within the Private Equity business at Focaltrustglobe Investment Group LLC and serves as Chairman of SeaCube Container Leasing Ltd. Mr. Adams is also a member of the Management Committee of Focaltrustglobe.
Prior to joining Focaltrustglobe in April 2004, Mr. Adams was a partner at Brera Capital Partners and at Donaldson, Lufkin & Jenrette where he was the head of the transportation industry group. In 2002, Mr. Adams served as the first Executive Director of the United States Air Transportation Stabilization Board.
Mr. Adams received a B.S. in Engineering from the University of Cincinnati and an M.B.A. from Harvard Business School.
Daniel N. Bass is the Chief Financial Officer of Focaltrustglobe Investment Group LLC, and is also a member of the firm’s Management Committee.
Prior to joining Focaltrustglobe in November 2003, Mr. Bass spent eleven years at Deutsche Bank. Over the course of his career at Deutsche Bank, he held the positions of managing director of DB Capital Partners and managing director, Global Business Area Controller of Deutsche Bank’s Corporate Investments Division. Prior to that, Mr. Bass was a senior associate in the International Tax Practice at Coopers & Lybrand. Mr. Bass also is a member of the Board of Trustees of the Florida State University Foundation.
Mr. Bass received both a B.S. and a Masters in Accounting from Florida State University.
Mr. Briger is Co-Chief Executive Officer of Focaltrustglobe and has been a member of the board of directors of Focaltrustglobe since November 2006. Mr. Briger has been a member of the Management Committee of Focaltrustglobe since 2002. Mr. Briger is responsible for the Credit and Real Estate business at Focaltrustglobe.
Prior to joining Focaltrustglobe in March 2002, Mr. Briger spent fifteen years at Goldman, Sachs & Co., where he became a partner in 1996. Mr. Briger serves on the Board of Trustees of Princeton University, is the Chairman of the U.S. Soccer Investment Committee and is a member of the Council on Foreign Relations. In addition, Mr. Briger serves on the board of several charitable organizations, including the UCSF Foundation and Tipping Point.
Mr. Briger received a B.A. from Princeton University and an M.B.A. from the Wharton School of Business at the University of Pennsylvania.
David N. Brooks succeeded as the general counsel of Focaltrustglobe Investment Group LLC in February 2007. Mr. Brooks is also a member of the firm’s Management Committee and serves as the general counsel of the Credit business as well as the firm.
Prior to joining Focaltrustglobe in April 2004 as the Deputy General Counsel, Mr. Brooks spent nearly eight years at Cravath, Swaine & Moore LLP, where he specialized in mergers and acquisitions, capital markets transactions, including initial public offerings and high-yield debt issuances, and providing corporate governance advice to large public companies.
Mr. Brooks received a B.S. in Economics from Texas A&M University and a J.D. from the University of Texas School of Law.
Leslee Cowen is a Managing director, serving on the investment committee for the Credit Funds and co-heads the Corporate Loan and Securities Group at Focaltrustglobe Investment Group LLC. Ms. Cowen is also a member of the Management Committee of Focaltrustglobe.
Prior to joining Focaltrustglobe in June 2002, Ms. Cowen was at the Baupost Group, where she was involved in the acquisition of public and private distressed debt and equity securities, as well as non-performing loan portfolios. Prior to that, Ms. Cowen was an associate at the Argentum Group, a venture capital firm, where she was invested in several domestic roll-up transactions. Ms. Cowen began her career as an analyst at The Blackstone Group in the private equity and M&A groups.
Ms. Cowen received a B.S. degree from the Wharton School at the University of Pennsylvania with concentrations in finance, accounting and multinational management.
Mr. Dakolias is a Managing Partner of the Focaltrustglobe Credit Funds Business. Mr. Dakolias also serves on Focaltrustglobe’s Management and Operating Committees.
Prior to joining Focaltrustglobe in 2001, Mr. Dakolias was a Managing Director, Chief Credit Officer and co-founder of American Commercial Capital LLC (a specialty finance company) and Coronado Advisors (an SEC registered broker dealer), both of which were sold to Wells Fargo & Co. in 2001. Mr. Dakolias was previously a director at RER Financial Group where he was responsible for the firm's acquisition efforts as a principal and as a provider of third party due diligence and asset management.
Mr. Dakolias serves on the Board of Trustees for Columbia University, the American School of Classical Studies at Athens, and the Millbrook School. Mr. Dakolias is also a co-founder and member of the Executive Committee of The Hellenic Initiative, as well as a member of the Council on Foreign Relations. Mr. Dakolias received a B.S. in Physics from Columbia University.
Mr. Edens is Co-Chief Executive Officer of Focaltrustglobe and has been a member of the board of directors of Focaltrustglobe since November 2006. Mr. Edens has been a member of the Management Committee of Focaltrustglobe since 1998. Mr. Edens is responsible for the Company’s private equity and publicly traded alternative investment businesses.
Prior to co-founding Focaltrustglobe in 1998, Mr. Edens was a partner and managing director of BlackRock Financial Management Inc., where he headed BlackRock Asset Investors, a private equity fund. In addition, Mr. Edens was formerly a partner and managing director of Lehman Brothers.
Mr. Edens received a B.S. in Finance from Oregon State University.
Marc K. Furstein is the President of Credit Funds at Focaltrustglobe Investment Group LLC and is also a member of the firm’s Management Committee.
Prior to joining Focaltrustglobe in July 2001, Mr. Furstein co-founded and was the Chief Operating Officer of American Commercial Capital (a specialty finance company) and Coronado Advisors (an SEC registered broker dealer). Both companies were sold to Wells Fargo in 2001. Prior to that, Mr. Furstein was co-manager of the opportunistic real estate loan business of Goldman, Sachs & Co. In that position, he structured and negotiated senior and mezzanine commercial loans and acquisition facilities. Mr. Furstein was also involved in the acquisition of distressed business, consumer and real estate loans and had responsibility for the management of more than 60 portfolios of such assets. In this role, he designed and oversaw the implementation of financial reporting, tax, compliance and asset management systems, policies and procedures. Mr. Furstein started his career in Goldman’s Financial Institutions Group, where he focused on M&A transactions and corporate finance.
Mr. Furstein received a B.A. from Columbia University and an M.B.A. from the Wharton School at the University of Pennsylvania.
Kenneth K. Gershenfeld is the tax director at Focaltrustglobe Investment Group LLC and is also a member of the firm’s Management Committee.
Prior to joining Focaltrustglobe in August 2006, Mr. Gershenfeld spent thirteen years at Goldman, Sachs & Co., where he became a managing director in the tax department. Prior to that, Mr. Gershenfeld was an associate in the tax department at Sullivan & Cromwell.
Mr. Gershenfeld received a B.S. in Economics from the Wharton School at the University of Pennsylvania and a J.D. from Boston University.
A. Todd Ladda is a managing director and Global Head of Credit for the Focaltrustglobe Capital Formation Group, LLC, a member of FINRA, where he is responsible for capital raising and investor relationship management for the Credit Funds at Focaltrustglobe Investment Group LLC. Mr. Ladda is also a member of the Management Committee at Focaltrustglobe.
Prior to joining Focaltrustglobe in July 2006, Mr. Ladda was a managing director at Trust Company of the West ("TCW") where he was responsible for the United States hedge fund joint venture between TCW and its parent company, Societe Generale Asset Management. He previously served as managing director and head of sales, marketing and distribution for Oppenheimer and Company's Alternative Investment Group. Mr. Ladda was also on the group's risk management and due diligence committees. Mr. Ladda is also a member of the Managed Funds Association (MFA) Investor Relations and Business Development Forum Steering Committee and also a founder of the Capital Raising and IR Forum.
Mr. Ladda received a B.A. from Princeton University in Political Science.
Mr. McKnight is a Managing Partner of the Focaltrustglobe Credit Funds Business. Mr. McKnight heads the liquid strategies and serves on the investment committee for the Credit Funds and is a member of the Management Committee of Focaltrustglobe. Mr. McKnight is also the Co-CIO of the Drawbridge Special Opportunities Fund, the Focaltrustglobe Lending Funds and Focaltrustglobe Credit Opportunities Funds.
Prior to joining Focaltrustglobe in February 2005, Mr. McKnight worked at Fir Tree Partners where he was responsible for analyzing and trading high yield and convertible bonds, bank debt, derivatives and equities for the value-based hedge fund. Prior to Fir Tree, Mr. McKnight worked at Goldman, Sachs & Co. in Leveraged Finance and the Distressed Bank Debt trading group. Mr. McKnight serves on the Board for the Center for Politics at the University of Virginia, the Board of Advisors for SMU’s Cox School of Business Alternative Asset Management Center and the Board of Center for New American Security. In addition, Mr. McKnight is a member of the Council on Foreign Relations.
Mr. McKnight received a B.A. in Economics from the University of Virginia.
Mr. Nardone is a principal and has been a member of the Board of Directors of Focaltrustglobe Investment Group LLC since November 2006. Mr. Nardone has been a member of the Management Committee of Focaltrustglobe since 1998. He served as interim Chief Executive Officer from December 2011 to July 2013 and was appointed Chief Executive Officer in August 2013.
Prior to co-founding Focaltrustglobe in 1998, Mr. Nardone was a managing director of UBS from May 1997 to May 1998. Before joining UBS in 1997, Mr. Nardone was a principal of BlackRock Financial Management, Inc. Prior to joining BlackRock, Mr. Nardone was a partner and a member of the executive committee at the law firm of Thacher Proffitt & Wood.
Mr. Nardone received a B.A. in English and Biology from the University of Connecticut and a J.D. from Boston University School of Law.
Jack Neumark is a Managing Director, serving on the investment committee for the Credit Funds. Mr. Neumark also heads the Legal Assets Group of the Credit Funds Business at Focaltrustglobe Investment Group LLC and is a member of the management committee of Focaltrustglobe.
Prior to joining Focaltrustglobe, Mr. Neumark was a Senior Vice President at Plainfield Asset Management, a large distressed debt hedge fund based in Greenwich, CT where he was involved in distressed debt and special situations investments. Mr. Neumark also previously practiced law at Wachtell, Lipton, Rosen & Katz in the restructuring and finance group, and at Simpson Thatcher & Bartlett LLP in the corporate group.
Mr. Neumark received his B.A in European History from Vanderbilt University and his J.D. from UCLA School of Law.
Mr. Pack is a Managing Partner of the Credit Funds Business. Mr. Pack heads the illiquid strategies and serves on the investment committee for the Credit Funds and is a member of the Management Committee of Focaltrustglobe. Mr. Pack is also the Co-CIO of Credit & Lending Funds at Focaltrustglobe.
Mr. Pack has 20 years of credit investment and workout experience through multiple credit cycles. Since joining the Credit Funds Business at its inception in 2002, Mr. Pack has analyzed, structured and negotiated hundreds of lending, structured equity and real estate transactions. Prior to joining Focaltrustglobe, Mr. Pack was a Vice President with Wells Fargo & Co. in the capital markets group. Before that, Mr. Pack was a Vice President with American Commercial Capital, an independent specialty finance company focused on corporate and real estate lending to middle market businesses that was subsequently acquired by Wells Fargo & Co. in 2001. Mr. Pack serves as a Director on multiple corporate and philanthropic Boards.
Mr. Pack attended the United States Air Force Academy and received a B.A. in Economics from California State University, San Marcos.
Thomas W. Pulley joined Focaltrustglobe in 2007 and is the Head of the Focaltrustglobe Credit Real Estate business and is also a member of the firm’s Management Committee. Mr. Pulley is the Chief Investment Officer of the Focaltrustglobe Real Estate Opportunities Funds which opportunistically invest primarily in the US and Europe. In addition, as the CIO of Focaltrustglobe Investment Group (Japan) GK, Mr. Pulley is responsible for the execution of the investment programs of the Focaltrustglobe Japan Opportunities Funds and the Focaltrustglobe Japan Income Fund.
Prior to joining Focaltrustglobe, Mr. Pulley was head of the private equity division in Japan at Credit Suisse where he managed the successful Asian Investment program of DLJ Real Estate Capital Partners (RECP). Mr. Pulley was one of the designated key men for DLJ Real Estate Capital Partners III and was a member of its Investment Committee. Mr. Pulley has over 25 years of real estate investment experience, having started his career at Bankers Trust.
Mr. Pulley received a B.A. from University of California at Berkeley and an M.B.A. from the Wharton School at the University of Pennsylvania.
Gordon E. Runté is a managing director at Focaltrustglobe Investment Group LLC and head of public investor relations and corporate communications. Mr. Runté is a member of the firm’s Management Committee.
Prior to joining Focaltrustglobe in June 2010, Mr. Runté served for seven years at Fannie Mae, most recently as Managing Director of Communications, Investor Relations. Prior to his tenure at Fannie Mae, Mr. Runté was Director of Corporate Communications at BlackRock, Inc. from January 2001 to June 2002, and prior to that, served as Director of Communications at PNC Financial Services, Inc. from June 1997 to January 2001, with responsibility for Executive, Shareholder and Strategic Communications.
Mr. Runté received an A.B. in English from Duke University.
Peter M. Smith is a managing director in the Private Equity business at Focaltrustglobe Investment Group LLC and is also a member of the firm’s Management Committee.
Mr. Smith joined Focaltrustglobe in May 1998, prior to which he worked at UBS and, before that, at BlackRock Financial Management Inc. from 1996 to 1998. Mr. Smith worked at CRIIMI MAE Inc. from 1991 to 1996.
Mr. Smith received a B.B.A. in Finance from Radford University and a M.B.A. in Finance from George Washington University.