Star Mountain Capital, a rapidly growing employee-owned specialized investment firm with over $4.0 billion AUM, focused on delivering systematic alpha and low market correlated returns from making private loans and private equity investments and purchasing secondary LP interests and assets in the large, fragmented and resource-intensive lower middle-market, announced that Curtis Glovier has transitioned from a Star Mountain Senior Advisor into the full-time role of Managing Director and Strategic Portfolio Officer.
Star Mountain Capital, LLC ("Star Mountain"), a specialized investment manager with over $4.0 billion in assets under management (committed capital including debt facilities as of 6/30/2024) focused on generating defensive and premium yield and total returns from the less efficient and resources-intensive market of U.S. private small and medium-sized businesses (the “lower middle-market”), is pleased to announce that Curtis Glovier has increased his involvement with Star Mountain from a Senior Advisor to a full-time role of Managing Director and Strategic Portfolio Officer.
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Curtis Glovier, Star Mountain Capital Managing Director & Strategic Portfolio Officer (Photo: Business Wire)
“It has been a pleasure working with Curtis personally and professionally over the past 4+ years since he became a personal investor and Senior Advisor,” said Brett Hickey, Star Mountain Capital Founder & CEO. “We are confident his 30+ years of alternative investment experience encompassing private credit, private equity, being a C-level operating executive, chairing boards, investment banking and consulting will be of enormous value to all our stakeholders, including investors, portfolio companies and the Star Mountain team.”
“Star Mountain’s purpose-built platform bringing large market resources to high quality, established, small and medium-sized U.S. private businesses is a compelling investment strategy that I believe will continue to provide value to all stakeholders,” said Curtis Glovier. “I am excited to transition to a full-time partner to help Star Mountain further its mission of generating high quality, differentiated returns for investors while also creating a positive community impact by helping build businesses and drive innovation.”
Mr. Glovier’s leadership experience includes being a former Department Head and Investment Committee Member within the Credit Business of Fortress Investment Group ($48 billion in AUM as of 12/31/23), serving as Chairman of the Board of three companies and as a board member for numerous financial services, industrial, business services, communications, and technology companies.
Mr. Glovier previously served as Chairman, CEO and President of PENSCO Trust Company, a specialty custodian of alternative investments for retirement accounts with over $16 billion in assets under custody, owned by publicly-traded Opus Bank, later acquired by Pacific Premier Bancorp (NASDAQ: PPBI). He also served as Opus Bank’s Senior Executive Vice President where he headed wealth services and served as Managing Partner & lead Investment Committee Member of Opus Equity Partners, an SBIC lower middle-market private investment fund.
Opus Bank was a portfolio investment Mr. Glovier led while at Fortress which he then left to help lead and manage. Previously, Mr. Glovier had a nearly 10-year career as a Managing Director & Investment Committee member at Fortress Investment Group where he led private equity and debt investments in several industries with a focus on financial services.
Mr. Glovier started his career as a consultant at The Boston Consulting Group and then worked in the investment banking leveraged finance and M&A departments at Goldman Sachs. He then transitioned into alternative investments upon joining Nassau Capital, a private investment firm that managed over $2 billion of alternatives for its sole client, the Princeton University Investment Company. At Nassau, he focused on direct investments in companies across a variety of industries and stages ranging from venture capital to private equity.
Mr. Glovier next moved to Perseus, a nearly $2 billion AUM diversified lower middle-market private equity firm headquartered in Washington, DC, where he rose to co-lead the buyout group in the New York City office.
Mr. Glovier serves on the Board of Governors of the International Tennis Hall of Fame, is a Board Advisor to Cornerstone Advisors and is a Senior Investment Advisor at Grafine Partners. Prior boards include the Retirement Industry Trust Association, comprised of the largest independent custodians in the U.S.
Mr. Glovier received a BA in Economics, cum laude, from Princeton University, as well as a Masters of Economic Studies from James Cook University as a Rotary International Scholar, and an MBA, as a Palmer Scholar, from the Wharton School of The University of Pennsylvania. Mr. Glovier is FINRA Series 24, 79, 63 and 7 licensed.
About Star Mountain
With over $4 billion in assets under management (committed capital including debt facilities as of 6/30/2024), Star Mountain takes a data-driven approach to investing into the North American lower middle-market through two complementary investment strategies: (i) direct debt and equity investing and (ii) secondaries (acquiring LP interests and direct assets and making primary LP commitments). Star Mountain believes these complementary strategies provide data-enhanced, scalable, diversified, and customizable access for its institutional and qualifying high-net-worth investors to established businesses that generally have at least $15 million in annual revenues and under $50 million in EBITDA. Its investors include public pensions, private pensions, insurance companies, commercial banks, endowments, foundations, family offices and high-net-worth individuals. Star Mountain is employee-owned and shares its profits with 100% of its U.S. full-time employees as part of its focus on maximizing value for its stakeholders and investors through alignment of interests.
Since 2010, Star Mountain has made over 250 direct investments in businesses and over 45 secondary / fund investments within its Collaborative Ecosystem®, focused on the North American lower middle-market. One of Star Mountain’s specialties is seeking current cash income for investors that is materially above the typical yields found in the public markets, often accompanied with potential long-term capital gains equity returns and low correlation to public markets through its distinctive origination, underwriting and value-added investment capabilities.
Star Mountain was recently named one of the Inc. 5000 fastest-growing private companies in America.
For the fifth straight year, Star Mountain was again named one of the Best Places to Work by Crain’s New York Business as well as once again one of the Best Places to Work by Pensions & Investments.
Star Mountain believes its focus and dedication has been productive for job creation and economic development including in underserved areas and communities. Star Mountain is dedicated to this large market of underserved businesses purpose-built to address the challenges and opportunities of these companies. As part of its commitment, Star Mountain has trademarked Investing in the Growth Engine of America ®.
Star Mountain’s Charitable Foundation, a not-for-profit 501(c)3 focuses on improving lives through economic development, including job creation, health & wellness and cancer research. Notable missions include helping match veterans and women with high quality small and medium-sized business career opportunities across the country, including within Star Mountain’s portfolio.
Note: This does not constitute an offer to sell or a solicitation of an offer to purchase interests in any investment product. Awards and recognitions by unaffiliated rating services, companies and/or publications should not be construed by a client or prospective client as a guarantee that he / she / it will experience a certain level of results if Star Mountain is engaged, or continues to be engaged, to provide investment advisory services; nor should they be construed as a current or past endorsement, testimonial endorsement, recommendation or referral of Star Mountain or its representatives by any of its clients or any other third party. Rankings published by magazines and others are generally based exclusively on information prepared and / or submitted by the recognized advisor. Moreover, with regard to all performance information contained herein, directly or indirectly, if any, readers should note that past results are not indicative of future results. The description and the selection methodologies of each award and recognition are subjective and will vary.
Awards and recognitions by unaffiliated rating services, companies, and/or publications should not be construed by a client or prospective client as a guarantee that he/she/it will experience a certain level of results if SMFM is engaged, or continues to be engaged, to provide investment advisory services; nor should they be construed as a current or past endorsement, testimonial endorsement, recommendation or referral of SMFM or its representatives by any of its clients or any other third party. Rankings published by magazines and others are generally based exclusively on information prepared and/or submitted by the recognized advisor.
Crain’s two-part survey process consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. The second part involved an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Star Mountain must pay a fee to Crain’s only for survey collection purposes. Detailed eligibility criteria can be found here: https://bestcompaniesgroup.com/best-companies-to-work-for-in-new-york/eligibility/
To be named to P&I‘s Best Places list, all firms met Best Companies’ high threshold for inclusion and were evaluated against others of similar size. Individual firm profiles, which were compiled based on survey results, reflect U.S. employment numbers and were confirmed by Best Companies in the summer. Company and employee comments were edited for space, style and clarity. Assets under management or advisement are as of June 30, unless otherwise noted. To participate, companies had to have at least 20 employees in the U.S., at least $100 million of discretionary assets under management or advisement and be in business for at least one year. An anonymous employee survey, which aimed to evaluate employee engagement and satisfaction, accounted for 75% of a firm’s score; an employer survey, which evaluated workplace policies, practices, benefits and demographics, made up 25%. https://bestcompaniesgroup.com/best-places-to-work-in-money-management/eligibility/
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine rankings were calculated to four decimal places. https://www.inc.com/inc5000
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Contacts
John Polis – Media@StarMountainCapital.com
