Le Roy, Former Head of Thoma Bravo Credit who has Completed ~$5 Billion of Investments, Joins Star Mountain Capital as a Managing Director
Star Mountain Capital, a rapidly growing, employee-owned specialized private investment firm with over $3 billion AUM announced that Jack Le Roy, former Founder and Head of $100+ billion private equity firm Thoma Bravo’s private credit investment business, has joined as a Managing Director.
New York – August 19, 2022 – Star Mountain Capital, LLC (“Star Mountain”), a specialized investment manager, with over $3 billion in assets under management, focused exclusively on investing in established, private small and medium-sized North American businesses (lower middle-market), is pleased to announce that Jack Le Roy has joined as a Managing Director. A differentiating factor of Star Mountain’s investor-aligned business is that 100% of its team as well Senior Advisors / Operating Partners share in the investment profits.
“Jack brings a diverse and complementary set of skills, experiences and relationships from his 20 years of private credit investment experience completing over 100 investments representing over $5 billion of invested capital from other high quality investment firm’s including Thoma Bravo, Summit Partners and Guggenheim,” said Brett Hickey, Star Mountain Capital Founder & CEO. “Adding a 15th full-time Managing Director and one with particular experience in the software & technology sectors, as well as strong west-coast relationships further extends our differentiated, value-add capabilities for business owners and our investors.”
“Star Mountain’s distinctive lower middle-market private investments platform has a demonstrated track record of providing compelling value for business owners and investors in this fragmented marketplace,” said Jack Le Roy, “Star Mountain’s collaborative culture, including alignment of interest with its portfolio investments and investors as well as the firm’s long-term commitment to its team, training, infrastructure, technology and data made it a compelling place for me to invest my career and relationships where I believe I can further add incremental value to the businesses we invest with and to our investors.”
Mr. Le Roy is a senior investment professional with approximately 20 years of experience investing senior debt, junior debt and private equity across a variety of industries with a particular specialization in software, including applications, infrastructure and cyber security, and technology-enabled businesses. He has been trained at leading global investment firms including Thoma Bravo ($100+ billion AUM software specialist private equity firm) and Guggenheim Partners ($325 billion AUM). Prior to joining Star Mountain, Mr. Le Roy had successfully completed approximately 100 distinct investments representing ~$5 billion of invested capital.
Mr. Le Roy was most recently the Founding Partner and Head of Private Credit at Thoma Bravo Credit, a division of Thoma Bravo, a $100+ billion AUM a leading global private equity investment firm which provides strategic capital to experienced management teams and growing software and technology companies.
At Thoma Bravo Credit, Mr. Le Roy served on the investment committee completing and overseeing approximately 50 transactions representing ~$3 billion of invested capital, primarily in software, technology, applications, infrastructure and cyber security businesses.
Previously Mr. Le Roy worked at $35+ billion AUM growth equity and credit investment firm Summit Partners as a Founding Member of the Summit Partners Credit Advisors business focused on private credit and minority equity investments to middle and lower-middle-market businesses.
Mr. Le Roy began his career at Guggenheim Partners, a global investment and advisory firm with ~$325 billion in AUM. At Guggenheim, Mr. Le Roy was part of the leveraged credit investing group where he led a team focused on consumer, technology and media industries. In that role, he deployed several billion dollars across a broad spectrum of credit investments including investment grade securities, high yield, leveraged loans and private credit. Starting his career as an Analyst, he was promoted to Associate and then Vice President during his time at Guggenheim before spinning out with colleagues to launch Summit’s private credit business.
Mr. Le Roy is a graduate of The University of Texas at Austin with a major in Finance and minor in Software Engineering where he was on the Dean’s Honor Roll.
Read the full press release on BusinessWire here.
By David Brooke
(Bloomberg) — Private-credit firm Star Mountain Capital has hired Jack Le Roy, a former partner at Thoma Bravo, to join its private-credit operation, according to a statement.
*Le Roy joins as managing director after spending almost four years at Thoma Bravo’s credit team, which he founded and led before departing in October 2020
*He is a specialist in software and technology investments, the statement said
*Le Roy has also worked at Summit Partners and Guggenheim Partners, according to his LinkedIn profile
*Star Mountain is a specialist in lower middle-market lending, providing loans ranging between $15 million to $150 million, as well as small equity investments
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ABOUT STAR MOUNTAIN
With over $3 billion in assets under management (as of July 31, 2022), 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 high-net-worth investors to established small and medium-sized 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 100% employee-owned and shares its profits with 100% of its employees as part of its focus on maximizing value for its stakeholders and investors through alignment of interests.
Since 2010 through July 2022, Star Mountain has made over 160 direct investments in U.S. small and medium-sized businesses and over 25 secondary / fund investments within its Collaborative Ecosystem®, exclusively focused on the North American lower middle-market. One of Star Mountain’s specialties is seeking current cash income and yield for investors that is materially above the typical yields found in the public markets through its distinctive origination, underwriting and value-added lending capabilities.
For the third straight year, Star Mountain was again named one of the 2021 Best Places to Work by Crain’s New York Business as well as once again one of the 2021 Best Places to Work by Pensions & Investments.
Star Mountain believes its focus and dedication has been productive for job creation and economic development. 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 ®.
As part of its ESG program (Environmental, Social and Governance), 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://www.bestplacestoworknyc.com/eligibility-criteria
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/