Star Mountain President Bob Long Joins Board of Defined Contribution Alternatives Association
NEW YORK, NEW YORK, UNITED STATES, October 13, 2016 / — Star Mountain Capital announced today that Robert W. Long (Bob) has joined the board of directors of the Defined Contribution Alternatives Association (DCALTA). Bob is the President of Star Mountain, and his experience includes roles as the CEO of two public asset managers and as the head of Bank of America’s $7 billion Strategic Capital Group. DCALTA is a 501(c) non-profit organization created to educate plan sponsors and other stakeholders on the benefits of including alternative investments within a defined contribution (DC) framework to enhance participant outcomes.
Pension plans and other large institutional investors have invested heavily in alternative assets for decades, benefiting from strong risk-adjusted returns and diversification. In the face of expectations of a long-term, low return environment, DC plan sponsors are increasingly focused on expanding the use of illiquid alternatives as a modest component of a balanced asset allocation strategy. DCALTA’s mission is to enhance and secure participant outcomes through education, research, and advocacy on the benefits of including alternative investments within a DC framework.
“The democratization of alternative assets is a long-term, secular trend that should lead to expanded access for a broader range of investors, providing the option to participate in the diversification and return benefits of these investments,” noted Mr. Long. “DCALTA is on the forefront of creating best practices for prudent structures in the DC market that emphasize transparency, alignment of interest and strong governance. I am enthusiastic about the potential of DCALTA’s initiatives to enhance outcomes for DC plan participants.”
“As specialized investors in the lower middle-market, we provide capital to growing, small companies,” said Brett Hickey CEO of Star Mountain. “We believe that defined contribution investors should have the option to invest in diversified portfolios of main street businesses.”
“Bob’s background as the CEO of two publicly traded alternative asset companies will complement the skills of our board,” added Jonathan Epstein, President and Founder of DCALTA. “In those roles, he dealt with the valuation and reporting of illiquid assets under a public company regulatory framework, an analogous situation to DC plans. We look forward to leveraging his experience.”
DCALTA’s reach includes stakeholders from the defined contribution community, hedge funds, private equity and credit firms, commodity trading advisors, and other supporting entities. Members are dedicated to seeking solutions to help overcome market bias and operational impediments impacting the use of alternative investments within defined contribution plans. Additional information regarding DCALTA’s mission and the board members can be found at www.dcalta.org.
About Star Mountain Capital:
Investing in the Growth Engine of America ® – Star Mountain Capital is a specialized lower middle-market asset management firm. It has a differentiated business model and “Collaborative Ecosystem” including its three channel approach to investing into small and medium-sized businesses via Direct Investments, Primary Fund Investments and Secondary Fund Investments.
Star Mountain Charitable Foundation is a New York not-for-profit 501(c)3 focusing its charitable activities on improving lives via Health & Wellness (including cancer research), Education & Career Development, and Economic Development / Job Creation.
Star Mountain Capital, LLC