New York Life Capital Partners Names Robert M. Barrack Chief Operating Officer

NEW YORK, Jan. 13 /PRNewswire/ -- New York Life Capital Partners (NYLCAP), the private equity arm of New York Life Investments, today announced the appointment of Robert M. Barrack to managing director and chief operating officer.  In this newly created position, Barrack will manage the firm's business administration, accounting and investor relation efforts. He will report directly to Thomas Haubenstricker, chief executive officer of NYLCAP.  

Barrack joins NYLCAP from The Blackstone Group LP, where during his 12 year tenure he served as managing director and chief financial officer of the firm's Private Equity Group and most recently as managing director in the firm's Investor Relations & Business Development Group.   As CFO, Barrack was responsible for all aspects of accounting, tax and financial reporting for Blackstone's private equity funds.

"Having more than doubled our assets under management in five years, NYLCAP is poised to continue its strong trajectory of growth in the new decade.  As the firm enters this next phase of development, it is critical to have someone of Bob's skill and expertise overseeing the operations of our company. His wealth of knowledge and experience implementing best practices will make our firm that much stronger," said Haubenstricker.  

Prior to joining The Blackstone Group, Barrack was president and chief executive officer of Devtec Corporation, a subsidiary of TLD (USA) Inc. – the holding company of Teleflex Lionel-Dupont S.A – a publicly traded French manufacturer with operations in Europe, Asia and North America.  As senior executive of Devtec, Barrack had direct line and operating responsibilities.  He also worked at Charterhouse Inc. functioning as the chief administrative officer; at Paribas North America as vice president and assistant to the CEO; at the Woodcliff Group as vice president and CFO.  He began his career at Arthur Andersen & Co.

Barrack has an MBA from New York University and a BA in Economics from New York University, University College. He is a Certified Public Accountant and holds the Series 7 and 63 designations.

About New York Life Capital Partners LLC

New York Life Capital Partners LLC (NYLCAP) manages over $6.8 billion of private equity assets, including direct equity, direct mezzanine, and limited partnership investments.  As an affiliate of New York Life Investments, NYLCAP manages alternative assets for New York Life Insurance Company, its affiliates and other institutional investors.

NYLCAP, together with its predecessor organizations, began investing in private equity partnerships in 1984 and has been an active, direct private equity investor since 1991.

About New York Life Investments

New York Life Investments ranks among the largest asset management firms in the United States(1). Through its multiple boutique investment structure, New York Life Investments delivers investment performance through an array of products designed for both institutional and retail clients. Through MainStay Investments and NYLIFE Distributors LLC, New York Life Investments distributes some of the most highly regarded mutual funds and wrap accounts in the industry.

New York Life Investments is a leading provider of retirement plans for corporations, multi-employer trusts, and individuals, and is recognized as one of the nation's top providers of guaranteed products to both the qualified and non-qualified markets. Together with its affiliates and over 1,400 employees, New York Life Investments manages over $248 billion in assets as of September 30, 2009.

"New York Life Investments" is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.  

(1) Source: Pensions & Investments, May 18, 2009.

SOURCE New York Life Capital Partners