Goldman Sachs Senior Partner and Mezzanine Chief Muneer Satter Resigns

NEW YORK, June 15, 2012 /PRNewswire/ --  

Statement from Muneer Satter

"After 24 wonderful years, I'm announcing my retirement from Goldman Sachs.

It has been an honor and a privilege to work with such an outstanding group of individuals, all of whom have worked especially hard to help establish Goldman Sachs as a global leader. I am grateful for all the opportunities the firm has presented me to provide leadership and build businesses during the past 20 years. I will miss the very talented people in the firm and I will miss our wonderful clients.

I would stay with Goldman Sachs forever if I could. But, as you know, for the past 12 years I have been commuting between New York and Chicago, where my family lives. Starting in July, I look forward to spending each day and evening with my wife and five children. In addition, I plan to pursue my many entrepreneurial, charitable and political endeavors.

I can say with confidence that Goldman Sachs remains in good hands. The Mezzanine Funds are performing well and have a very strong investment track record. GSMP V is 78 percent invested and has been very successful. The leadership and the team are strong. As co-heads of PDG, Tom Connolly and I have worked very closely for many years, which will make for a smooth transition. Rich Friedman remains the head of the Merchant Bank and chairman of the investment committee. I continue to have my own money invested in the funds and in the firm.

I plan to stay close to the firm. I have agreed to remain as vice chairman of the Goldman Sachs Foundation and GS Gives and will continue as chairman of the Foundation's investment committee."

Muneer Satter Background

After joining the firm in 1988, Satter moved to London four years later to head Goldman Sachs' merchant banking efforts in Europe, the private investment arm of Goldman Sachs. He was named managing director and a partner of Goldman Sachs in 1996. In 1997, Satter returned to New York and assumed responsibility for the Goldman Sachs Mezzanine Partners (GSMP) funds. Since 1999, Satter and his team raised more than $30 billion of capital for the Mezzanine Funds, making Goldman Sachs the global market leader in the mezzanine business today. The Principal Debt Group now manages over $25 billion of assets including the Mezzanine Funds and the Loan Funds. Satter will continue to serve as a co-chairman of Mitt Romney's National Finance Committee and as a board member of Chicago Mayor Rahm Emanuel's not-for-profit World Business Chicago, which helps attract new business and jobs to the city.

SOURCE Muneer Satter