Key Takeaways
- • Star Mountain Capital, an employee-owned specialized investment manager with over $4.0 billion in assets under management (committed capital including debt facilities as of June 30, 2024), has hired James Camarda as a Managing Director in its Tampa, Florida office.
- • Camarda joins from Merrill Lynch, now part of Bank of America (NYSE: BAC), where he spent roughly two decades in alternative investments and most recently served as a Director and Divisional Alternative Investments Specialist leading a team of four across a seven-state territory.
- • Camarda will work with investors on portfolio optimization and potential liquidity needs through Star Mountain's secondaries business, and will form and manage strategic partnerships with wealth management platforms and other investors, according to CEO Brett Hickey.
- • Star Mountain targets the North American lower middle-market, which Camarda said makes up nearly 50% of the U.S. economy, with direct debt and equity investing and secondaries as its two core strategies.
Summary
Star Mountain Capital, LLC announced that James Camarda has joined the firm as a Managing Director in its Tampa, Florida office. Star Mountain describes itself as a specialized investment manager with over $4.0 billion in assets under management, measured as committed capital including debt facilities as of June 30, 2024. The firm focuses on generating defensive and premium yield and total returns from U.S. private small and medium-sized businesses in the lower middle-market.
Camarda brings two decades of alternative investment experience, most recently at Merrill Lynch, now part of Bank of America (NYSE: BAC). According to the release, he served as a Director and Divisional Alternative Investments Specialist, leading a team of four specialists, managing a seven-state territory, and engaging with more than a thousand financial advisors. His tenure included work with a platform featuring over 75 evergreen funds and roughly 30 new private market drawdown funds annually. He has advised financial advisors, family offices, foundations, endowments, and individuals on portfolio construction using alternative investments.
Star Mountain Founder and CEO Brett Hickey said Camarda will play a "pivotal and multifaceted role," including forming and managing strategic partnerships with wealth management platforms and other investors. In his own remarks, Camarda cited the size and fragmentation of the lower middle-market and expected growth in M&A activity among small and medium-sized businesses due to aging demographics. He said Star Mountain's origination, underwriting and portfolio value-add platform positions the firm to capture these opportunities.
Star Mountain says it invests in businesses that generally have at least $15 million in annual revenue and under $50 million in EBITDA. Since 2010, the firm has made over 250 direct investments and more than 45 secondary or fund investments. Its investor base includes public and private pensions, insurance companies, commercial banks, endowments, foundations, family offices, and high-net-worth individuals. The release notes the firm is employee-owned and shares profits with 100% of its U.S. full-time employees.
Camarda brings two decades of alternative investment experience, most recently at Merrill Lynch, now part of Bank of America (NYSE: BAC). According to the release, he served as a Director and Divisional Alternative Investments Specialist, leading a team of four specialists, managing a seven-state territory, and engaging with more than a thousand financial advisors. His tenure included work with a platform featuring over 75 evergreen funds and roughly 30 new private market drawdown funds annually. He has advised financial advisors, family offices, foundations, endowments, and individuals on portfolio construction using alternative investments.
Star Mountain Founder and CEO Brett Hickey said Camarda will play a "pivotal and multifaceted role," including forming and managing strategic partnerships with wealth management platforms and other investors. In his own remarks, Camarda cited the size and fragmentation of the lower middle-market and expected growth in M&A activity among small and medium-sized businesses due to aging demographics. He said Star Mountain's origination, underwriting and portfolio value-add platform positions the firm to capture these opportunities.
Star Mountain says it invests in businesses that generally have at least $15 million in annual revenue and under $50 million in EBITDA. Since 2010, the firm has made over 250 direct investments and more than 45 secondary or fund investments. Its investor base includes public and private pensions, insurance companies, commercial banks, endowments, foundations, family offices, and high-net-worth individuals. The release notes the firm is employee-owned and shares profits with 100% of its U.S. full-time employees.
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