David
Cody, 45, one of the early partners at Fortress
Investment Group, and Avshalom
(“Avi”) Kalichstein, 39, a former managing director at J.
C. Flowers & Co., have joined Easterly
Capital, the private investment firm founded by former Affiliated
Managers Group (NYSE:AMG) Chief Financial Officer Darrell Crate. At
Easterly, Cody will oversee an expanding distribution capability and
Kalichstein will lead a diverse asset underwriting effort. Both men will
focus mainly on new
asset opportunities for institutional investors.
Cody and Kalichstein are the latest additions to a powerful team of
experts at Easterly focused on creating proprietary products, seeding
and acquiring emerging asset managers or partnering with proprietary
asset origination sources to commercialize specific investment products.
“We have no doubt that with the additions of David and Avi, two of the
most respected professionals in the business, Easterly Capital is
well-positioned to be the strategic partner of choice for both buyers
and sellers of assets,” said Crate. “This team will enable us to
identify opportunities where others see none, and to navigate around
complex barriers to entry that many others lack the expertise to
negotiate.”
Cody co-founded MatlinPatterson Asset Management in 2010 and most
recently served as its chief executive officer, focusing primarily on
long/short credit, mortgage credit and senior credit deals. Prior to
that, he was a president and an early partner at Fortress Investment
Group, where he oversaw the hybrid/credit group and played an
influential role in helping the firm grow assets to more than $40
billion between 2002 and 2010. Cody holds a B.A. degree from Colby
College.
“With the strength and resources of Easterly, we will be able to provide
even more opportunities to clients who are relying on us to originate,
underwrite and structure discrete, cash-flow investment products at
a certain level of risk and at a reasonable price,” said Cody.
Kalichstein founded specialty finance asset manager Solel Investment
Group in 2011. Prior to forming Solel, he was a managing director of
J.C. Flowers & Co. from 2004 to 2011, where he was responsible for
originating, monitoring, managing and disposing of financial
services-related assets around the world. From 2001 to 2004, he worked
for Shinsei Bank in Tokyo, where he led the corporate development group.
He began his career in the Financial Institutions group at Goldman
Sachs. Kalichstein holds a B.A. degree, magna cum laude, in
Mathematics and Economics from Brown University.
“I am excited to be joining Easterly, a firm well-respected for its deep alternative
asset management expertise and ability to generate substantial
results for its investors,” said Kalichstein.
Crate added, “We are excited to have David and Avi join our team. Both
have proven track records of identifying market and industry
dislocations and building successful funds around those opportunities.
Given the current environment, we look forward to finding the best
opportunities possible for our investors.”
About Easterly Capital
Easterly Capital is a private asset management firm that develops both
alternative and traditional investment vehicles to satisfy the specific
risk return objectives of clients. Easterly’s products are comprised of
real estate, natural resources, and financial assets, including those in
niche, non-bank finance markets. Through an affiliate, Washington,
D.C.-based Easterly Partners, Easterly invests in a highly specialized
segment of the U.S. Government-leased real estate market. As of March
31, 2014, Easterly Capital, through its affiliated entities, managed
over $1 billion of assets, mostly in private equity and alternative
vehicles for institutional and ultra high net worth investors. For more
information, visit www.easterlycapital.com.
Copyright Business Wire 2014