Macquarie Capital expands Principal Transactions offering
New York, 06 October 2014
- Larry Handen joins Macquarie Capital’s U.S. Principal Transactions Group as Senior Managing Director
- Appointment broadens coverage and capabilities of U.S. principal investing platform with Handen’s experience committing capital to support growth companies
Macquarie Capital, the corporate advisory, principal investing and capital markets arm of Macquarie Group (“Macquarie”) (ASX: MQG; ADR: MQBKY), today announced the appointment of Larry Handen. Mr. Handen will join as a Senior Managing Director in the U.S. Principal Transactions Group, led by Duncan Murdoch. He will work closely with industry groups across Macquarie Capital in providing capital solutions to clients, with a focus on growth companies.
Mr. Handen brings more than 25 years of experience in the software, Internet, and technology services industries as a principal investor, operator and consultant. He joins Macquarie Capital from Insight Venture Partners, a leading growth equity and venture capital firm, where he served as Managing Director. Prior to Insight, Mr. Handen was a General Partner at UBS Capital where he led the firm’s Software, Internet & Services Group. Previously, he was a Partner with PricewaterhouseCoopers Consulting.
“We are excited to welcome Larry to Macquarie,” said Michael Silverton, Head of Macquarie Capital for the U.S. and Latin America. “Our principal investing platform delivers unique, tailored capital solutions to clients globally and continues to be a differentiating factor for our business. Larry’s knowledge, insights and relationships will add immediate value to the team, particularly as we look to support emerging growth companies.”
Alex Harvey, Global Head of Principal Transactions, added: “Larry provides Macquarie with deep principal investing and transaction expertise as well as an impressive track record as an investor across a number of industries. We worked closely with Larry on our investment in 3P Learning, an online education company. Macquarie Capital co-invested with Insight in 3P Learning and exited via an IPO earlier this year. His expertise and knowledge will provide us with increased opportunities to grow our principal investing business globally.”
During his career, Mr. Handen has been involved in more than 125 M&A and equity financing transactions. Some of Mr. Handen’s former investments include Primavera (acquired by Oracle), Greenfield Online (IPO acquired by Microsoft), Netsmart (acquired by Genstar Financial), Guardant (acquired by VeriSign), DivX (IPO acquired by Rovi), Commvault, SecureInfo (acquired by Kratos Defence), Digital Harbor (acquired by Norkom Technologies), Beatport (acquired by SFX Entertainment), Entercept (acquired by MacAfee), and Dynamicsoft (acquired by Cisco).
Macquarie’s Principal Transactions Group (PTG) is the principal investing arm of Macquarie Capital. With flexible investment criteria, Macquarie’s PTG seeks to become a long-term capital partner by investing alongside clients and growth companies globally. Since 2008, the PTG team has invested more than $2 billion in capital in over 100 deals across a range of industries, structures and jurisdictions.
Representative PTG transactions include: a growth capital investment in Basin Tools, an oilfield equipment manufacturer; a principal investment in Cenveo, a $1.9 billion print company; an equity investment in PSAV to support its acquisition of Swank Audio Visual; and an equity investment to support a consortium led by Kenner & Co. in its $607 million acquisition of Dynacast, a global manufacturer of metal components.
Mr. Handen received a BA in Economics and Political Science from Bucknell University and a MBA from NYU’s Stern School of Business.
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 13,900 people and has assets under management of over $396 billion (as of March 31, 2014).
Macquarie Capital comprises Macquarie Group’s corporate advisory, capital markets and principal investing capabilities. Macquarie Capital’s expertise spans a variety of industry sectors including telecommunications, media, entertainment, gaming, financial institutions, industrials, energy, resources, real estate, infrastructure, utilities and renewables.
For more information, visit http://www.macquarie.com/whiteboard.