Bob Shettle, former Co-Head of North American Private Finance and Chairman of the North American Private Finance and Mezzanine Investment Committees at Barings LLC, MassMutual’s $325+ billion AUM investment management subsidiary, joined to Star Mountain Capital as a full-time senior member of the investment team.
NEW YORK, July 20, 2021–(BUSINESS WIRE)–Star Mountain Capital, LLC (“Star Mountain”), a specialized investment manager that focuses exclusively on investing in small and medium sized private companies (lower middle market), is pleased to announce that Bob Shettle has been incorporated as General Director. With thirty years of experience investing in senior debt, subordinated debt, private equity, and making investments in lower middle market funds, Mr. Shettle brings a diverse skill set and extensive network to Star Mountain’s approach to value-added debt and investing. of capital in established U.S. small and medium-sized businesses that typically have between $15 million and $250 million in annual revenue, as well as Star Mountain LP’s investments in lower-middle market funds.
“Bob brings a wealth of experience, knowledge and relationships to further benefit us as we continue to scale our business adding more value to business owners and investors in an aligned manner,” said Brett Hickey, founder and CEO of Star Mountain Capital. “Bob is another great cultural fit with a detail-oriented, sleeve-rolled personality from having personally led over 70 private investments, coupled with the leadership experience of chairing investment committees for a $325 billion institution and overseeing approximately $10 billion in private credit, mezzanine and private equity investments”.
“Having invested in the private markets for about 30 years, I find the lower middle market to be the most compelling bridge between emerging company risks and the larger, more commercialized markets,” said Bob Shettle. “Star Mountain has built a differentiated business that includes its origination platform, underwriting and value-added capabilities along with deep investments in team, culture and technology that prompted me to join a company that I believe will continue to deliver compelling results for investors and the businesses we invest in.”
Mr. Shettle spent most of his career, 22 years, at Barings, the more than $325 billion AUM investment manager owned by insurance group MassMutual.
At Barings, he was named chairman of the North American Mezzanine and North American Private Financial Investment committees. Mr. Shettle was also a co-head of the North American Private Finance Group, co-managing a team of 35 private credit professionals across 3 US offices and overseeing a $10 billion senior loan and junior debt portfolio. He also helped advise, analyze and manage investments for lower middle market private equity funds. Mr. Shettle was also Chairman of two closed-end funds listed on the New York Stock Exchange focused on private debt securities (Barings Corporate Investors – NYSE: MCI; Barings Participation Investors – NYSE: MPV).
Prior to Barings, Mr. Shettle was Vice President of Commercial Lending at Fleet Bank (now part of Bank of America).
Mr. Shettle began his management consulting career at Andersen Consulting (now Accenture) in the late 1980s.
Mr. Shettle is a graduate of the University of Connecticut and has an MBA from Rensselaer Polytechnic Institute. Mr. Shettle also holds the Chartered Financial Analyst (CFA) designation.
Star Mountain was again named a Best Places to Work by Pensions & Investments and one of the 2020 Best Places to Work by Crain’s New York Business highlighting the companies focus on culture and community.
ABOUT STAR MOUNTAIN
With approximately $2 billion in assets under management (as of June 2021), Star Mountain takes a data-driven approach to investing in the US lower middle market through two complementary investment strategies: (i ) direct debt and investment in shares and (ii) secondary (acquisition of shares and direct assets of LP). Star Mountain believes that these complementary strategies provide scalable and diversified access for its high net worth and institutional investors to established small and midsize companies that typically have at least $15 million in annual revenue.
Since 2010, Star Mountain has made more than 100 direct investments in US small and medium-sized companies and more than 20 secondary investments/funds within its Collaborative Ecosystem ®, focused exclusively on the lower middle US market. With more than 75 team members (including consultants/operating partners) in more than 20 locations across the country, Star Mountain believes their focus and dedication have been productive for the job creation and economic development. Star Mountain is dedicated to this large market of underserved businesses created specifically to address the challenges and opportunities of these businesses. As part of its commitment, Star Mountain has registered Investing in America’s Growth Engine®.
As part of its ESG (Environmental, Social and Governance) program, the Star Mountain Charitable Foundation, a 501(c)3 nonprofit organization, focuses on improving lives through economic development, including job creation , health and wellness, and cancer research. Notable missions include helping match veterans and women with high-quality career opportunities at small and medium-sized businesses across the country, including within the Star Mountain portfolio.
Note: This does not constitute an offer to sell or a solicitation of an offer to buy any investment product. Awards and recognition from unaffiliated rating services, companies and/or publications should not be construed by a customer or prospective customer as a guarantee that they will experience a certain level of results if Star Mountain participates or continues to participate. , 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. Furthermore, with respect to all performance information contained in this document, directly or indirectly, if any, readers should note that past results are not indicative of future results. The description and selection methodologies for each award and recognition are subjective and will vary.
Awards and recognition from unaffiliated rating services, companies and/or publications should not be construed by a client or prospective client as a guarantee that they will experience a certain level of results if SMFM participates or continues to participate. , 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 solely on information prepared and/or submitted by the recognized assessor.
Crain’s two-part survey process involved evaluating each nominated company’s policies, practices, philosophy, systems, and workplace demographics. The second part involved an employee survey to measure the employee experience. The combined scores determined the best companies and the final ranking. Crain’s is required to pay a fee to Star Mountain for survey collection purposes only. Detailed eligibility criteria can be found here: https://www.bestplacestoworknyc.com/eligibility-criteria
be appointed to PIOn the Best Companies Best Places list, all companies met the high threshold for inclusion of Best Companies and were evaluated against others of similar size. The individual company profiles, compiled based on survey results, reflect US employment figures and were confirmed by Best Companies in the summer. Company and employee comments have been edited for space, style, and clarity. Assets under management or advice are as of June 30, unless otherwise noted. To participate, companies had to have at least 20 employees in the US, at least $100 million of discretionary assets under management or advice, and be in business for at least one year. An anonymous survey of employees, whose objective was to evaluate.
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