Neuberger Berman Private Equity has named two industry veterans – Michael DeVirgilio and Cory M Baker – to lead its entry into the brand acquisition, licensing and management industry.
The platform, Marquee Brands, will seek to identify, acquire, and manage high quality brands with global opportunities across all consumer segments.
DeVirgilio will serve as president of Marquee Brands and Baker will serve as its chief operating officer. Neuberger Berman's team focused on Marquee Brands will include Samuel Porat, managing director, who is responsible for royalty strategies, Zachary Sigel, vice president, who will lead the development of Marquee Brand's acquisition and licensing strategy and will be dedicated to the platform going forward, and Jacqueline Fish, an associate with Neuberger Berman Private Equity.
"As we analysed the current marketplace of the brand acquisition and licensing business, we are confident that Neuberger's private equity business has the global reach and network of professionals to provide us with a uniquely strong opportunity to acquire and build brands. We are excited to have Michael and Cory help execute this compelling investment strategy alongside Neuberger Berman," says Anthony Tutrone, global head of Neuberger Berman Alternatives, which manages over USD24 billion of private equity commitments for institutions and individuals.
Prior to joining Marquee Brands, DeVirgilio was at Kenneth Cole Productions for 17 years most recently serving as president, licensing and international, a role he held since February 2009. DeVirgilio will join Marquee Brands full time as of 1 October 2014.
Baker joins Marquee Brands from Julian Wolf, an integrated branding consultancy and business development agency he founded in 2013. Baker was previously the managing director of brand strategy and development at Infinity Lifestyle Brands, heading the company's brands division within the private equity portfolio.
"Neuberger Berman Private Equity has been a terrific partner in this vision by helping to position Marquee Brands to build on a proven investment model," says DeVirgilio. "The global footprint of the firm across 17 countries will be an important driver to forming long-term relationships with brand owners and licensee partners as we extend our brands globally and build long-term value. Marquee Brands also looks forward to offering a flexible solution for brand owners."
