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Stonyrock and LAM raise permanent capital vehicle to invest in GPs of middle market alt managers

Stonyrock Partners (Stonyrock) and Leucadia Asset Management (LAM), a division of Jefferies Financial Group, have formed a strategic partnership to raise a permanent capital vehicle to invest in middle market alternative managers.

Stonyrock will target minority equity stakes in high-quality, middle-market alternative managers across a range of asset classes, strategies and geographies, including private equity, credit, hedge funds, real estate, venture, and infrastructure, creating a highly diversified portfolio of partnerships. Stonyrock’s strategy seeks to address the growing demand from alternative managers to bring in outside capital to execute on a range of strategic priorities including franchise growth initiatives, operational investments and succession planning. Stonyrock will leverage its internal affiliate development platform capabilities as well as its strategic partnerships, including with LAM and Jefferies, to help support affiliate managers’ business ambitions and priorities.

“We are thrilled to be partnering with LAM and Jefferies. With the combination Stonyrock’s internal strategic capabilities and Jefferies’ global platform focused on the middle market, we see tremendous opportunity to work collaboratively with affiliate managers to create truly strategic partnerships,” says Stonyrock managing partner Craig Schortzmann.

“As we have watched the alternative asset management industry mature, we believe there is an attractive and sustainable opportunity to partner with leading middle market alternative asset managers as they prepare for the next stage of their life-cycle and face the opportunities that lie ahead,” adds Stonyrock partner Sean Gallary.

In a joint statement, Jefferies’ Rich Handler (pictured), CEO, and Brian Friedman, President, said: “We are excited to partner with Craig and Sean in launching Stonyrock to address a growing market opportunity. We are enthusiastic about this opportunity and look forward to working together as Stonyrock executes on its business plan.”

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