New World Group and Management Purchase Stone Street Capital Assets

Buyers Plan for Significant Growth



Mar 07, 2007, 00:00 ET from Stone Street Capital, LLC

    BETHESDA, Md., March 7 /PRNewswire/ -- The New World companies of Great
 Neck, NY and the management team of Stone Street Capital, Inc. of Bethesda,
 Maryland, announced that they have purchased the assets of Stone Street
 Capital, Inc. through a new entity, Stone Street Capital, LLC. Stone Street
 is a leading purchaser of periodic cash flow streams, such as lottery
 prizes, structured settlements, and corporate prize awards. The Company,
 which will remain in Bethesda, Maryland, employs 100 plus professionals
 with demonstrated capabilities in structured asset transactions. Stone
 Street Capital's web address is http://www.stonestreet.com.
     Adam Shapiro, President of Stone Street, stated that, "We are very
 excited about this transaction and the substantial additional resources now
 available to us to fuel significant growth." Steven H. Shepsman, a managing
 director of New World, remarked that, "We are looking forward to our
 relationship with this exceptionally talented team and are very optimistic
 about their ability to grow with us through greater penetration of existing
 markets and strategic entry into new markets."
     Founded by Lee Jundanian in 1989, Stone Street Capital, Inc. pioneered
 the secondary market in lump-sum payments to lottery winners and was an
 early innovator in monetizing other periodic cash flows such as structured
 settlements, casino jackpot awards, and life settlements. In its 17 years
 of operations the company originated in excess of $1.5 Billion of
 transactions across all asset classes. In connection with the transaction
 Lee Jundanian will no longer be involved in the business. Mr. Jundanian
 commented that, "In choosing to do a transaction with the New World Group
 and the existing management team I know I have left the company in very
 capable hands and with the ability to accelerate its growth."
     The privately-held New World companies are specialty finance
 enterprises providing vehicle and equipment lease funding for the finest
 independent leasing companies nationwide, internet-based consumer and
 commercial financing products, venture capital for promising start-up and
 intermediate-stage companies, and mortgage, mezzanine and equity capital to
 selected real estate development and investment partners. The Managing
 Directors of New World are Steven H. Shepsman and Seth B. Lipsay.
     Milestone Advisors, LLC served as financial advisor to Stone Street
 Capital, Inc. in connection with this transaction.
 
 

SOURCE Stone Street Capital, LLC