Murray & Burnaman Form New Advisory Practice

Oct 13, 2010, 10:00 ET from Murray & Burnaman LLC

NEW YORK, Oct. 13 /PRNewswire/ -- Marti P. Murray and Buck Burnaman announce the formation of Murray & Burnaman LLC, a specialty financial advisory practice focused on distressed debt, corporate reorganizations, distressed real estate and specialized bankruptcy services. The firm's head office will be located in New York City.

Marti Murray and Buck Burnaman are pleased to announce that they have decided to combine their 50 years of Wall Street experience in a new venture to provide financial advisory services to companies, creditors and boards.  Murray & Burnaman will focus on providing analytical and advisory support in situations involving corporate or real estate-related financial distress, with initial emphasis on real estate, financial services, telecom, manufacturing, retail, airline, and mortgage finance.  The principals will draw upon their extensive experience as investors in distressed debt and established relationships in legal, banking and investing circles to provide the firm's clients with a unique and informed perspective.

Murray & Burnaman has successfully completed its first debtor financial advisory assignment.  In this engagement, the firm was retained by a middle market plumbing supply manufacturer to address complex balance sheet issues and unique legal problems that exacerbated the company's difficulties.  The client's liability structure was consensually realigned in a way that now allows management to focus on running its business.  Murray & Burnaman principals are also engaged as expert witness and consultant in two litigation matters relating to hedge fund investing and trading.

Ms. Murray said, "I am delighted to announce my new partnership, Murray & Burnaman LLC.  Buck and I have worked together closely on various projects over the past 15 years and his experience in real estate and structured finance is exceptional.  The work we are doing now allows me to draw on my many years as an active corporate distressed debt investor and hedge fund manager and offer that experience for the benefit of our clients."

Marti Murray was the founder of Murray Capital Management, a distressed debt hedge fund firm with peak assets of US$750MM.  After 13 years of independent operation, the distressed debt business of Murray Capital Management was acquired by Babson Capital, the money management division of MassMutual in 2008. Ms. Murray retired from her role as portfolio manager in September 2009.

"I have always been impressed by Marti's determination in difficult cases and have long admired her ability to provide clarity when the level of conflict among lawyers and bankers seems ready to overwhelm the process in a reorganization case," Mr.  Burnaman commented. He added, "To join my background in real estate and structured finance with her corporate pedigree gives our firm a perspective that few can offer to our clients, with the hands-on involvement of two principals."

Buck Burnaman was a founding shareholder of middle-market specialty lender NewStar Financial and the head of that firms Structured Products Group. Prior to forming NewStar in 2004, he spent ten years as Head of ING Bank's $15 Billion Global Special Investments business, investing the Bank's proprietary capital and managing a group of 75 people in offices around the world.

The offices of Murray & Burnaman are located at 590 Madison Avenue, New York.

SOURCE Murray & Burnaman LLC