Armour, Timothy — Capital Group Cos. Inc.
THE LATEST: Armour has been outspoken in recent years about market volatility and the opportunities to be had for savvy investors with long-term mindsets in turbulent economic conditions. He took over as Capital Group’s board chairman in July 2015 following the death of James Rothenberg. Armour has continued the firm’s longtime strategy of reevaluating the company’s portfolio-management structure every five to seven years and oversaw a reorganization that began in 2017 and finished in 2018.
BACKGROUND: Before his current role, Armour was an investment analyst at Capital, focusing on global telecommunications and U.S. service companies. Armour began his career 37 years ago at Capital when he participated in the firm’s Associates Program. He holds a bachelor’s degree in economics from Middlebury College.
YEARS ON THE LA500: 2
Attanasio, Mark — Crescent Capital Group
THE LATEST: Crescent Capital BDC, Inc., a subsidiary of Crescent Capital Group that is focused on originating and investing in the debt of private companies, purchased Alcentra Capital Corp. last year for $142 million in cash and stock. The two companies finalized their merger in the first quarter of 2020.
BACKGROUND: Acquired by TCW in 1995 and re-established as a standalone firm in 2010, Attanasio’s Crescent Capital is an investment firm specializing in debt securities. Prior to founding Crescent Capital, Attanasio worked as an investment banker at Drexel Burnham Lambert Inc. and as an attorney at Debevoise & Plimpton. He serves on the boards of Heal the Bay, the Los Angeles County Museum of Art and the Harvard-Westlake School. He is also a member of LA2028, the bid committee that is bringing the Olympic Games to Los Angeles. In addition, Attanasio is the principal owner and chairman of the Milwaukee Brewers and a member of Major League Baseball’s Executive Council.
YEARS ON THE LA500: 5
Barrack, Thomas — Colony Capital Inc.
THE LATEST: Barrack’s firm last year took steps to transform itself into a digital real estate company by investing in data centers and communication towers. In a bid to generate capital to fund the shift, Colony Capital shed its $5.7 billion industrial investment portfolio in the fall of 2019.
BACKGROUND: Barrack formed Colony Capital three years ago by merging his original Colony Capital firm, which was founded in 1991, with Northstar Asset Management Group Inc. and NorthStar Realty Finance Corp. Previously, Barrack served as a principal with the Robert M. Bass Group, the personal investment vehicle of Texas billionaire Robert Bass. Barrack served in President Ronald Reagan’s administration as deputy undersecretary at the Interior Department. In 2010, French President Nicolas Sarkozy knighted Barrack as a Chevalier de la Légion d’Honneur. Barrack was a senior adviser to Donald Trump’s 2016 presidential campaign and part of Trump’s inaugural committee. He serves on the board of First Republic Bank.
YEARS ON THE LA500: 5
Bizub, Donald — Western International Securities Inc.
THE LATEST: Bizub’s company, Western International Securities, was acquired by Atria Wealth Solutions Inc. in the first quarter of 2020. Following the transition, Bizub’s title changed from chief executive to president of Western International Securities.
BACKGROUND: Bizub joined Western International Securities in 1996, one year after it was founded, as executive vice president. He rose to the chief executive role after a brief stint as the firm’s chief financial officer. The financial services and advisory firm uses database research to provide market analysis on thousands of investment opportunities. Bizub previously served as president of the Securities Industry Management Association of Southern California. He also served on the National Association of Independent Brokers’ board.
YEARS ON THE LA500: 2
Boehly, Todd — Eldridge Industries
THE LATEST: Boehly’s Eldridge Industries invested $300 million in Beverly Hills-based real estate firm Kennedy Wilson last year. The two firms have a pre-existing relationship and have co-invested in property in the past.
BACKGROUND: Founded by Boehly and Anthony D. Minella in 2015, Eldridge Industries is a private equity firm that operates a portfolio of businesses across several industries, including media and sports, real estate development, and hospitality. Portfolio companies include the St. James Group, Elliott Bay and Aurify Brands. Prior to Eldridge, Boehly was president of Guggenheim Partners, where he launched a credit investing business and later assumed responsibilities for the asset-management business. Boehly has a stake in the Los Angeles Dodgers and the Los Angeles Sparks. He received his bachelor’s in business administration from the College of William & Mary and studied at the London School of Economics.
YEARS ON THE LA500: 4
Burkle, Ron — Yucaipa Cos.
THE LATEST: Burkle’s firm saw an impressive return on its investment in Soho House Group last year. The luxury hospitality group, which Yucaipa purchased in 2012, reached a $2 billion valuation in October after raising $100 million from new investors to double the number of its hotels and private members around the world. During the Covid-19 epidemic, Soho House has furloughed most of its staff and is applying membership fees to credit for use on rooms and store credit. Burkle sold his Los Feliz home last year for $18 million. The house was designed by famed architect Frank Lloyd Wright and has been featured in numerous films and TV shows.
BACKGROUND Burkle’s Yucaipa Cos. investment firm focuses on deals in the retail, manufacturing, distribution and hospitality industries. Founded by Burkle in 1986, the outfit is known for its mergers and acquisitions of major grocery chains. Yucaipa has completed deals valued at more than $40 billion. Burkle has served as chairman and controlling shareholder of numerous companies, including Alliance Entertainment, Golden State Foods Corp., Dominick’s grocery store chain, Fred Meyer Inc., Ralphs Grocery Co. Inc. and Food4Less Holdings Inc. Burkle is chairman of the Ronald W. Burkle Foundation, which supports the arts, fosters workers’ rights and empowers underserved communities. He also serves as co-chairman of the Burkle Center for International Relations at UCLA. Burkle lives in Bozeman, Mont., but Yucaipa is based in Los Angeles.
YEARS ON THE LA500: 5
Casey, Michael — Whittier Trust Co.
THE LATEST: During Casey’s first full year as executive chairman at Whittier Trust Co., the firm made 35 new hires, bringing its total staff to 186. Client retention over that period was 99.9%, according to the firm.
BACKGROUND: Over the past 30 years, Casey has guided Whittier Trust’s transition from a family office to a multi-client family office and private trust company with more than $14 billion in assets under advisement. The South Pasadena company was founded in 1935 as the family office for the Whittier family, whose wealth came from real estate and petroleum. Casey has a bachelor’s degree from St. Mary’s College and completed postgraduate work in the business schools of De Paul University and the University of Wisconsin. He earned his law degree from Chicago Kent College of Law. Casey is a member of the California Club, the Twenty-One Fund and the Petersen Auto Museum‘s Checkered Flag 200 club.
YEARS ON THE LA500: 3
Cohen, David — Karlin Asset Management Inc.
THE LATEST: Last year Karlin acquired a 1-million-square-foot property in Austin, Texas. It also acquired a city block in downtown Austin and is working on redevelopment plans for the project. Karlin’s private equity subsidiary, Highview Capital, acquired Gold Star Foods and merged it with an existing portfolio company to create one the largest food distributors in the U.S., according to the firm.
BACKGROUND: Cohen has more than 25 years of principal investing experience in real estate, private equity and public and private securities. In 2009, he co-founded Karlin Real Estate, which seeks purchasing and financing opportunities in commercial, hospitality and multifamily properties in the U.S. Karlin Real Estate has acquired and financed close to $2 billion in transactions. Cohen serves on boards and in leadership positions for multiple nonprofit organizations in public policy, medical research, animal welfare and education.
YEARS ON THE LA500: 2
Danhakl, John — Leonard Green & Partners
THE LATEST: Danhakl’s private equity firm closed its eighth flagship fund in December, a $12 billion vehicle. Green Equity Investors VIII was one of the largest single private equity funds ever raised in Los Angeles.
BACKGROUND: Founded in 1989, Leonard Green & Partners has invested in more than 90 companies, closing its most recent fund in 2016 with $9.6 billion in committed capital. Danhakl joined the firm in 1995. Previously he spent five years as a managing director in the L.A. office of Donaldson Lufkin & Jenrette Securities Corp. From 1985 to 1990, he was a vice president in corporate finance at Drexel Burnham Lambert Group Inc. Danhakl serves on the boards of Advantage Solutions, Charter NEX and Insight Global, among others.
YEARS ON THE LA500: 4
Dilfer, Jacky — Business Finance Capital
THE LATEST: Business Finance Capital provided more than $100 million in SBA 504 loans in fiscal 2019, making it the No. 1 SBA 504 lender in Los Angeles County by dollar volume, according to the U.S. Small Business Administration.
BACKGROUND: Under Dilfer, who joined the commercial lending and business development firm in 2012, Business Finance Capital has consistently been one of the top Small Business Administration lenders in L.A. County and the state. Business Finance Capital has funded more than 500 commercial real estate transactions for small- and medium-sized businesses since 2012. Before joining BFC, Dilfer was a senior vice president at TMC Financing. She earned a bachelor’s degree in business administration and management from San Jose State University. Dilfer serves as a board member for Commerce-based AltaMed Health Services Corp., an organization that delivers health care to underserved communities in Southern California.
YEARS ON THE LA500: 3
Eghbali, Behdad — Clearlake Capital
THE LATEST: In April, Eghbali’s firm closed its sixth private equity fund with $7 billion in capital commitments. The fund was oversubscribed, passing its original $5 billion target and hitting its hard cap. The new funding brought Clearlake’s total assets under management to roughly $18 billion. It caps a strong series of exits by the firm, which have resulted in $3 billion in realizations in the last two years.
BACKGROUND: Clearlake Capital is a private equity firm that specializes in middle-market companies in software, the industrial sector and a range of consumer services. Prior to co-founding Clearlake in 2006, Eghbali worked in private equity at TPG Capital. He has a B.S. in business administration and management from UC Berkeley.
YEARS ON THE LA500: 2
Feldman, Lewis — Heritage CRETech Ventures
THE LATEST: This year Feldman rebranded his private equity group, Heritage Capital Ventures, as Heritage CRETech Ventures. The group’s new focus is on real estate supply chain technology. This includes real estate applications for virtual reality, health tech, property management, marketing, payments, investing and reporting. The firm works with the UCLA Ziman Center for Real Estate and the UCLA Technology Incubator at the Anderson Graduate School of Management.
BACKGROUND: Heritage Capital Ventures, which invests in online financial technologies, was founded by Feldman in 2015. Feldman is also president for commercial real estate company KBS Direct. Previously, he worked for nearly 10 years at the law firm of Goodwin Procter, helping to start its California offices. Feldman was a member of the firm’s real estate capital markets group, founded its crowdfunding practice and led the company’s public finance practice. He received his law degree from UC Davis.
YEARS ON THE LA500: 3
Feliciano, José — Clearlake Capital
THE LATEST: In addition to his work in private equity alongside fellow LA500 member and Clearlake Capital co-founder Behdad Eghbali, Feliciano is a philanthropist who provides financial support for a range of charitable causes. Last year, he donated $500,000 to the Toigo Foundation, a nonprofit organization that supports education and diversity in financial leadership.
BACKGROUND: Feliciano co-founded Clearlake, a Santa Monica-based private equity firm, in 2006. He serves as Clearlake’s managing partner, attracting investments from limited partners in dozens of countries around the world. A native of Puerto Rico, Feliciano has used his business acumen to marshal resources for the relief effort from Hurricane Maria, which savaged the island in 2017. Feliciano has a B.S. in mechanical and aerospace engineering from Princeton and an MBA from Stanford.
YEARS ON THE LA500: 2
Friedman, Joshua — Canyon Partners
THE LATEST: The California Public Employees’ Retirement System, or CalPERS, committed $375 million to an emerging manager real estate fund managed by Canyon Partners in March. The massive pension scheme has already invested heavily in Canyon funds, such as a 2017 investment of $350 million in the Canyon Catalyst Fund II.
BACKGROUND: Canyon Partners specializes in value-oriented investments for institutional investors worldwide. Prior to co-founding Canyon in 1990, Friedman was director of capital markets for high-yield and private placements at Drexel Burnham Lambert Group Inc. He previously worked at Goldman Sachs Group Inc. in New York in mergers and acquisitions. Friedman serves on the board of Harvard Management Co. and is a member of the university’s Committee on University Resources and Task Force on Science and Engineering, among other groups. Friedman also is a trustee for Caltech, the Los Angeles Philharmonic and the UCLA Hospital Department of Neurosurgery.
YEARS ON THE LA500: 5
Glassman, Jeffrey — Covington Capital Management
THE LATEST: Downtown-based Covington manages in excess of $3 billion in assets for individuals, families, trusts and foundations. Glassman and his wife, Cecilia, were honored at the Los Angeles Jewish Home’s “Reflections 2019, Celebration of Life” gala in October for their work on behalf of the home.
BACKGROUND: Glassman has practiced law for more than 30 years — specializing in estate planning, probate and trust administration — and was a principal in the firm of Riordan & McKinzie for many years. Immediately before joining Covington in 2007, Glassman was at Bingham Legg Advisers, a joint venture between law firm Bingham McCutchen and investment manager Legg Mason Inc. Glassman is chairman emeritus of the board of the Los Angeles Jewish Home. He also serves on boards for the Mark Hughes Foundation, Riordan Foundation, Los Angeles Sports and Entertainment Commission and ArtCenter College of Design.
YEARS ON THE LA500: 3
Gores, Alec — The Gores Group
THE LATEST: The Gores Group closed its largest-ever special purpose acquisition company, or SPAC, in January. Gores Holdings IV Inc. raised $425 million in its initial public offering, beating its target by $25 million.
BACKGROUND: Gores’ eponymous private equity firm has invested more than $4 billion since its founding in 1987, with a focus on acquiring controlling interests in, and partnering with, mature and growing businesses. The firm has acquired and operated more than 120 companies to date. Its portfolio of companies spans diverse industries including technology, telecommunications, health care, media and entertainment and business services. Gores has an estimated net worth of $3.3 billion and was No. 23 on the Business Journal’s 2019 list of Wealthiest Angelenos. Gores and his brother Tom each own separate private equity firms and live in Los Angeles.
YEARS ON THE LA500: 5
Gores, Tom — Platinum Equity
THE LATEST: Platinum Equity closed its latest flagship fund in December — an oversubscribed “megafund” totaling $10 billion. It was the firm’s highest raise to date.
BACKGROUND: Since opening its doors in 1995, Platinum Equity has grown into one of the largest private equity firms in Los Angeles, with approximately $19 billion in assets under management, thanks in large part to founder Gores. The firm has completed more than 250 deals and currently has a portfolio of about 40 operating companies. Gores has an estimated net worth of $4.8 billion and was No. 15 on the Business Journal’s 2019 list of Wealthiest Angelenos. He serves on the board of the Los Angeles County Museum of Art. The Michigan native purchased the Detroit Pistons in 2011 along with his firm.
YEARS ON THE LA500: 5
Gundlach, Jeffrey — DoubleLine Capital
THE LATEST: Gundlach, often called the “Bond King,” is highly outspoken on markets and economic conditions. Most recently, he made headlines for his bearish predictions about the stock market in the wake of the coronavirus pandemic. Gundlach cashed in his short bets in March and pegged the odds of a U.S. recession this year at 90%.
BACKGROUND: Gundlach heads DoubleLine Capital, an investment management firm and registered investment adviser with more than $148 billion in assets under management at the end of 2019. Before founding DoubleLine in 2009 with Philip Barach and other colleagues, Gundlach spent 24 years at TCW Group Inc. He has an estimated net worth of $1.6 billion and was No. 47 on the Los Angeles Business Journal’s 2019 list of Wealthiest Angelenos.
YEARS ON THE LA500: 5
Hankey, Don — Westlake Financial Services Inc.
THE LATEST: Hankey’s auto finance company, Westlake Financial, funded more pre-owned auto sales at used-car dealers than any other lender nationwide last year, according to Experian’s AutoCount market reporting. This year, his leadership team is focused on successfully navigating the Hankey Group’s roughly 4,000 employees through the coronavirus pandemic.
BACKGROUND: Hankey founded his auto finance company in 1978 to serve potential auto buyers with subprime credit. In addition to serving as chairman, he is also Westlake Financial Services’ primary stockholder. The company is part of the Hankey Group, which comprises seven operating companies. The group reported $2.47 billion in revenue and $12 billion in assets in 2019. Hankey began his career in investment banking, then shifted gears to financing car loans when he acquired his family’s Midway Ford dealership in 1972. He is also a majority shareholder in Hankey Investment Co. and has an estimated net worth of $3.4 billion and is ranked No. 22 on the Business Journal’s list of Wealthiest Angelenos.
YEARS ON THE LA500: 5
Harman, Jeri — Avante Capital Partners
THE LATEST: Harman joined the board of NN Inc., a diversified industrials company, last year. She was named one of the most influential women in mid-market M&A by Mergers and Acquisitions magazine in 2020 — a designation she has received every year since 2016. Avante Capital Partners has invested more than $400 million in lower middle-market businesses across the U.S. to date.
BACKGROUND: Harman’s company makes debt and equity investments of $5 million to $25 million to lower middle-market businesses to finance buyouts, minority recaps, acquisitions and growth. She has more than 30 years of financing and M&A experience. Prior to Avante, Harman founded and led the Los Angeles offices for American Capital Ltd. and Allied Capital Inc., a pair of multibillion-dollar publicly traded private equity and mezzanine investment funds. She also co-chairs the Association for Corporate Growth’s Los Angeles Business Conference and is a member of the Private Equity Women Investor Network’s Steering Committee.
YEARS ON THE LA500: 3
Havens, Michele — Northern Trust
THE LATEST: Havens was appointed last year as West Region President of Northern Trust, where she oversees the company’s wealth-management business from Washington to Texas. She works with high-net-worth families and their philanthropic entities and is a member of Northern Trust’s Wealth Management Executive Committee.
BACKGROUND: Havens previously served as Northern Trust’s Los Angeles region president from 2012 to 2018 and Southern California region president from 2018 to 2019. Prior to joining Northern Trust in 2000, she worked as a private client adviser for JP Morgan in New York. Havens holds a BA in finance and marketing from Boston College and an MBA from UCLA, where she continues to serve on the board of advisors for the UCLA Anderson School of Management. From 2014 to 2018 Havens served on the board of directors for YPO Los Angeles, where she chaired the membership committee from 2017 to 2018. Havens is the second vice president on the board of the Jonathan Club.
YEARS ON THE LA500: 1
Karsh, Bruce — Oaktree Capital Management
THE LATEST: In February, Oaktree became the first foreign distressed debt company to set up a wholly owned unit in China under the Phase I U.S.-China trade deal. The move strengthened Oaktree’s already sizeable presence in the country, adding to the $6.5 billion the company has invested in the Chinese distressed debt market.
BACKGROUND: Co-founded in 1995 by Karsh and Howard Marks, global investment manager Oaktree had $125 billion in assets under management as of December 2019. Karsh serves as portfolio manager for a number of the firm’s verticals, including distressed opportunities and multi-strategy credit. Prior to co-founding Oaktree, Karsh was a managing director of TCW Asset Management Co. He previously worked as assistant to the chairman of SunAmerica Inc. An attorney by training, Karsh’s career also included a stint with O’Melveny & Myers. With an estimated worth of $2 billion, Karsh was No. 36 on the Business Journal’s most recent list of Wealthiest Angelenos. He is a member of the investment committee of the Broad Foundations and a trustee emeritus of Duke University.
YEARS ON THE LA500: 5
Leichtman, Lauren — Levine Leichtman Capital Partners
THE LATEST: Levine Leichtman’s investment in Dutch consumer education brand Squla was named deal of the year for 2019 by the Association for Corporate Growth Holland. The firm also expanded its European presence last year by opening a new office in Stockholm, hiring new professionals in its offices in The Hague and London, and moving to a larger location in London to accommodate growth.
BACKGROUND: Cofounded by Leichtman and her husband, Arthur Levine, in 1984, the private equity firm closed its sixth fund last year, an oversubscribed, $2.5 billion investment vehicle. Its fifth fund, which had $1.65 billion of capital commitments, was used to acquire 11 portfolio companies. The firm has invested in more than 80 middle-market companies in several industries, including consumer and branded products, health care, education, engineered products and franchises. Leichtman has been a private equity investor for more than 35 years, overseeing the company’s investment activities and institutional fundraising. She also chairs Levine Leichtman’s investment committee.
YEARS ON THE LA500: 3
Levine, Arthur — Levine Leichtman Capital Partners
THE LATEST: In March, Levine Leichtman exited Texas-based graphics and visual display franchisor Display Holding Company Inc., better known as Fastsigns. That same month, it invested in 401k and employee stock plan business Blue Ridge ESOP Associates. It was the eighth investment from the firm’s lower LLCP Lower Middle Market Fund, a 2016 vintage with roughly $615 in capital commitments.
BACKGROUND: Together with his wife, Lauren Leichtman, Levine co-founded Levine Leichtman Capital Partners in 1984. He has more than three decades of private equity investing experience. At Levine Leichtman, he plans strategic direction and oversees investment activities and institutional fundraising. Levine earned his law degree from Columbia Law School and earned his MBA from UCLA’s Anderson School of Management.
YEARS ON THE LA500: 2
Lippman, David — TCW Group Inc.
THE LATEST: TCS had $217 billion in assets under management at the end of 2019, making it one of the largest firms of its kind in Los Angeles. In March, one of TCW Group’s longest-standing mutual funds, the MetWest AlphaTrak 500 Fund, received a Lipper award for 10-year performance in the U.S. Large-Cap Core Funds category.
BACKGROUND: TCW Group’s clients include corporate and public pension plans, endowments and foundations, financial advisers and institutions and wealthy individuals. Before joining TCW in 2009, Lippman was CEO of Metropolitan West Asset Management, where he led strategy and operations and served on the credit committee and the structured products committee. His career includes positions at Credit Suisse First Boston in New York, Donaldson Lufkin & Jenrette and Drexel Burnham Lambert. Lippman graduated from Drew University and earned his law degree from Hofstra University.
YEARS ON THE LA500: 2
Malik, Neil — K1 Investment Management
THE LATEST: At the start of this year, Texas-based RealPage Inc. paid a combined $580 million for a 100% outright ownership stake in K1 portfolio company Buildium. K1 also made a $21 million investment Gravyty, an artificial intelligence-based fundraising software platform, in late January.
BACKGROUND: Malik founded K1, an enterprise software-focused private equity and venture capital firm, in 2011. Previously, he started the growth equity practice at Kayne Anderson Capital Advisors, where he focused on growth equity and buyout investments. Malik formerly held roles in the private equity groups of Brentwood Associates and Olympus Partners, where he focused investments on lower middle-market companies. He has an MBA from Harvard Business School. Before that, at the University of Pennsylvania, he received a BS in finance from the Wharton School and a BAS in electrical engineering and computer science. Malik has overseen more than 120 transactions since 2000.
YEARS ON THE LA500: 1
McKinney, Rory — D.A. Davidson & Co.
THE LATEST: Under McKinney’s leadership, D.A. Davidson’s investment banking group hired 30 new employees last year, tripling the size of its investment banking team focused on technology. McKinney’s group completed 98 transactions worth approximately $8 billion in deal value over that same period. It earned several national awards last year at the Americas M&A Atlas Awards, including U.S. Private Equity Deal of the Year for Small Markets, U.S. Deal of the Year for Middle Markets and Bank & Services M&A Deal of the Year.
BACKGROUND: McKinney leads more than 90 professionals covering five industry verticals — consumer, diversified industrials, financial institutions, real estate and technology — in 10 offices throughout the U.S. Since joining D.A. Davidson in 2007, he has advised both public and private companies on more than 100 mergers and acquisitions and capital raises. McKinney holds an executive role within D.A. Davidson MCF International, a strategic trans-Atlantic partnership between D.A. Davidson and Europe-based MCF Corporate Finance.
YEARS ON THE LA500: 2
Minerd, Scott — Guggenheim Partners
THE LATEST: After sounding alarm bells on an impending recession for the better part of the last year, Minerd’s predictions finally came true as a result of the coronavirus-driven downturn. The Guggenheim executive was quick to call for a $2 trillion TARP-style bailout as lockdowns drove the U.S. economy to a grinding halt.
BACKGROUND: At age 37, after getting rich on Wall Street as a bond trader, Minerd retired and moved to Los Angeles. But boredom set in a few years later, and Minerd went back to work, helping found Guggenheim Partners in 1999. Today, he guides investment strategies and oversees client accounts across a range of fixed-income and equity securities for the firm, which has more than $300 billion in assets under management. He was previously a managing director with Credit Suisse First Boston. His career has also included stints at Morgan Stanley, Merrill Lynch and Continental Bank.
YEARS ON THE LA500: 5
Munger, Charlie — Vice Chairman, Berkshire Hathaway Inc.
THE LATEST: The 96-year-old renowned investor and partner of Warren Buffet remains active in the business world as both chairman of downtown-based Daily Journal Corp. and as vice chairman of Berkshire Hathaway. At the Daily Journal’s annual shareholders meeting in February, Munger warned of impending “troubles” due to excessive risk taken on by investors and companies in recent years.
BACKGROUND: In addition to his role as vice chairman of Berkshire Hathaway since 1978, Munger is a director at Costco Wholesale Corp. and was previously chairman and chief executive of Wesco Financial Group from 1984 and 2011. Before becoming an investor and businessman, Munger co-founded L.A.-based law firm Munger Tolles & Olson. He sits on the board of Good Samaritan Hospital and has given hundreds of millions of dollars to several universities to build dormitories and is active in helping design the buildings.
YEARS ON THE LA500: 5
Munster, Bruce — Merrill Private Wealth Management
THE LATEST: Munster has received a host of awards for his financial advisory work in recent years. He was named one of America’s top wealth advisors each year since 2016 and one of the country’s top 1,200 financial advisers by Barrons in 2014 and each year since 2016.
BACKGROUND: Munster Freeman Group is an M&A advisory firm that operates within the Private Banking and Investment Group at Merrill Lynch, a subsidiary of Bank of America. As of the end of 2019, the Munster Freeman Group manages more than $2.3 billion for 45 families. Clients also include entertainment professionals, inventors, entrepreneurs and heads of investment banks and private equity firms. The team advises clients on personal wealth management related to M&A deals. Munster serves on the board of Santa Clarita Valley Economic Development Corp. and is a member of the Association for Corporate Growth.
YEARS ON THE LA500: 4
Nathanson, Marc — Mapleton Investments
THE LATEST: A longtime Democratic donor, Nathanson is a member of the finance committees for the Democratic National Committee and Joe Biden’s 2020 presidential campaign. He has urged Democratic donors to give even more actively in the face of the coronavirus crisis, suggesting that failing to do so could hand Donald Trump a victory in the 2020 race. Nathanson has an estimated net worth of $2 billion, good for No. 36 on the Business Journal’s list of Wealthiest Angelenos.
BACKGROUND: Mapleton Investments is a diversified investment holding company that manages a range of global ventures. Mapleton Properties has a portfolio worth more than $571 million. Prior to founding Mapleton in 1999, Nathanson founded and led Falcon Cable TV, which he sold in 1999 to computer billionaire Paul Allen for $3.7 billion. Nathanson is a trustee of the Aspen Institute, board member of USC’s Center for the Digital Future and Center on Public Diplomacy, a member of the Los Angeles Coalition for the Economy and Jobs and a member of the Council on Foreign Relations.
YEARS ON THE LA500: 5
Reinstein, Michael — Regent
THE LATEST: In 2019 Regent acquired German fashion house ESCADA from the Mittal family, the Berlin-based Brands4Friends ecommerce business from eBay and lingerie retailer La Senza from L Brands. It also acquired a portfolio of cycling businesses, including the Diamondback and Redline brands from Accel and Mavic Wheels from Amer Sports. In addition, Regent purchased the Plainville Farms Turkey agribusiness, which the firm says accounts for 10% of the U.S. turkey market, from Hain Celestial.
BACKGROUND: Since its founding by Reinstein in 2015, Regent has completed more than 30 deals. The global private equity firm’s current portfolio of 14 operating companies are in the media, consumer retail, technology, agriculture, fashion and performance sports spaces. Regent’s Beverly Hills headquarters hosts 70 team members, who oversee the firm’s operations, and its portfolio companies currently employ roughly 8,000 people. Other Regent businesses include Sunset Magazine, Military Times, Defense News, HistoryNet and Lillian Vernon. Reinstein is a Los Angeles native and graduate of USC and Pepperdine University’s School of Law.
YEARS ON THE LA500: 2
Ressler, Antony — Ares Management Corp.
THE LATEST: Ressler leads Ares Management Corp., a global alternative asset manager with about $149 billion in assets under management. He also owns the NBA’s Atlanta Hawks as well as a stake in the Milwaukee Brewers. This spring, the billionaire found himself among a group of NBA owners dealing with the fallout from a total shutdown caused by the coronavirus lockdown. Ressler has been personally impacted by the Covid-19 crisis, having lost his brother to the virus earlier this year.
BACKGROUND: Ressler serves as chairman of Ares’ Executive Management Committee and the firm’s Management Committee. He is a member of the investment committees of certain funds managed by Ares Private Equity Group and Ares Real Estate Group. Ressler has an estimated net worth of $2.9 billion and was No. 27 on the Los Angeles Business Journal’s 2019 list of Wealthiest Angelenos. He is a co-chairman of the Los Angeles County Museum of Art’s board of trustees and a member of the boards for Cedars-Sinai Medical Center and Georgetown University.
YEARS ON THE LA500: 5
Saban, Haim — Saban Capital Group Inc.
THE LATEST: Saban last year invested $500 million in Saban Music Group, a new Latin music-focused record label. The label recently collaborated with Miami rapper Pitbull on an album intended to inspire people in the face of the coronavirus — proceeds from sales will be donated to charities fighting the disease.
BACKGROUND: After launching “Mighty Morphin Power Rangers” in 1993, Saban parlayed the live-action TV show’s success into ownership of the Fox Family Channel in 1996. Saban Brands was formed in 2010 as an affiliate of Saban Capital Group, which he founded in 2001. The Egyptian-born entertainment pioneer moved to Los Angeles in 1983 and launched a chain of recording studios that became the top supplier of music for television productions. He formed Saban Entertainment in 1988 as an international television production, distribution and merchandising company. Saban sold Power Rangers and several other entertainment brands to Hasbro Inc. in a deal valued at $522 million in 2018.
YEARS ON THE LA500: 5
Shields, Kevin — Griffin Capital Co.
THE LATEST: Shields’ investment firm Griffin Capital raised more than $2.4 billion in equity capital last year — an all-time high for the company. This included a platform of interval funds created and managed by Griffin Capital Asset Management Co., which raised more than $1.7 billion last year, bringing the company’s total assets under management in 2019 to approximately $4.5 billion.
BACKGROUND: Since its founding by Shields in 1995, Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing approximately $17.5 billion in assets. It sponsors or co-sponsors several public, non-listed real estate investment trusts. The firm’s senior executives and employees have co-invested more than $300 million in its sponsored investment verticals. Before founding Griffin, Shields was a senior vice president and head of the structured real estate finance group at Jefferies & Co. Inc. Shields is chairman emeritus of the Investment Program Association and a policy advisory board member for the Fisher Center for Real Estate.
YEARS ON THE LA500: 2
Sinnott, Robert — Kayne Anderson Capital Advisors
THE LATEST: Sinnot shares a chairman position with Kayne Anderson Capital Advisors founder Richard Kayne. His firm was active this spring despite the coronavirus downturn. In April, Kayne Anderson purchased two properties in Florida: a medical office complex in Lake Worth Beach for $7.3 million and a self-storage facility in West Palm Beach for $14.5 million.
BACKGROUND: After he was elevated to co-chairman of Kayne Anderson in 2016, Sinnot stepped down as chief executive to give way to Mike Levitt, the firm’s current CEO. Sinnott joined Kayne Anderson in 1992 and helped grow the firm’s energy unit into a $16 billion portfolio. Before joining Kayne Anderson, Sinnot worked for Citibank, United Energy Resources and Bank of America. Sinnot earned his bachelor’s degree in economics from the University of Virginia and an MBA in finance from the Graduate School of Business Administration at Harvard University.
YEARS ON THE LA500: 5
Sloan, Harry — Eagle Equity Partners
THE LATEST: Sloan launched his sixth special purpose acquisition company, Flying Eagle Acquisition Corp., in March. The company, an investment vehicle created for the sole purpose of raising money to fund an acquisition, set its initial public offering at $600 million — the largest of Sloan’s Eagle acquisition companies so far. Flying Eagle was upsized to $690 million.
BACKGROUND: Sloan worked in the entertainment industry for roughly three decades prior to entering the finance space. He held positions with SBS Broadcasting and MGM. His previous acquisition corporations — all raised in the last decade — include the $190 million Global Eagle, $325 million Silver Eagle, $500 million Double Eagle, $325 million Platinum Eagle and $400 million Diamond Eagle. The most recent, Diamond Eagle, was used to acquire and merge sports betting powerhouse DraftKings Inc. and gambling technology company SBTech Ltd.
YEARS ON THE LA500: 1
Sokoloff, Jonathan — Leonard Green & Partners
THE LATEST: Leonard Green closed one of the largest private equity funds ever raised in Los Angeles in December. The $12 billion Green Equity Investors VIII was oversubscribed, beating out the firm’s previous flagship fund by more than $2 billion.
BACKGROUND: Following a 15-year-stint at Drexel Burnham Lambert, Sokoloff joined private equity firm Leonard Green & Partners in 1990, a year after it was founded. The company focuses on service and retail company acquisitions and has invested in more than 90 businesses via traditional buyouts, recapitalizations and growth equity, among other methods. Sokoloff serves on the boards of various companies, including the Container Store Group Inc. and Shake Shack Inc. He serves as a trustee of Williams College.
YEARS ON THE LA500: 5
Thiel, Peter — Thiel Capital
THE LATEST: Thiel’s data mining and analytics firm, Palantir, received one of the biggest government contracts issued to a Silicon Valley company to assist in combating Covid-19. The $17.3 million contract was signed in April with a subsidiary of the Department of Health and Human Services.
BACKGROUND: In addition to co-founding PayPal Holdings, Thiel has invested in many of Silicon Valley’s most successful startups, including LinkedIn and Yelp. He was the first outside investor in Facebook Inc. and paid $500,000 for a 10% stake in the company in 2004. In 2011, Thiel started the Thiel Fellowship, which gives young students $100,000 to pursue creative ideas rather than taking a more traditional route of attending college. Thiel has an estimated net worth of $2.7 billion and was No. 29 on the Los Angeles Business Journal’s 2019 list of Wealthiest Angelenos.
YEARS ON THE LA500: 3
Wedbush, Eric — Wedbush Securities Inc.
THE LATEST: This year, Wedbush’s firm expanded its wealth management business with the addition of veteran wealth management team The Lee Group. In 2019, his company celebrated the 50th anniversary of its acquisition of Noble, Cooke & Co. and the founding of its Hawaiian private wealth-management office. Wedbush also acquired the assets of U.S.-based Asian markets brokerage Decker & Co.
BACKGROUND: In addition to his board role at Wedbush Securities, Wedbush is a managing director at Wedbush Capital Partners and is president of Wedbush Asset Management. He has more than 20 years of experience in investing and advising private and public middle-market companies. Wedbush has worked on leveraged buyouts, recapitalizations and growth equity and he has negotiated investments in public companies. Before joining Wedbush Capital Partners in 2000, he spent 10 years with Wedbush Securities in the firm’s Equity Capital Markets Group. His areas of expertise include consumer products and services, basic manufacturing, financial services, environmental and specialty retailing.
YEARS ON THE LA500: 5
Winnick, Gary — Winnick & Co.
THE LATEST: Winnick made headlines outside of the finance space last year when he listed his Bel-Air home for $225 million. The lofty price tag made the storied 40,000-square-foot Casa Encantada the most expensive publicly listed home in U.S. history. Winnick ranked No. 44 on the Business Journal’s 2019 list of Wealthiest Angelenos with an estimated net worth of $1.7 billion.
BACKGROUND: Founded by Winnick in 1985, Winnick & Co. works with entrepreneurs and early stage businesses in sports, digital media, entertainment, technology, software, financial services, telecommunications, health care and real estate. In 2002, Winnick made $734 million from the sale of stock in Global Crossing, a telecommunications company he founded. He started his career at Drexel Burham Lambert. Winnick sits on the boards of the Simon Wiesenthal Center and the Museum of Modern Art. He also chairs the Winnick Family Foundation.
YEARS ON THE LA500: 5
See the full LA500 list and features in the 2020 LA500 Special Edition.
