CHATHAM, N.J., Feb. 14, 2011 /PRNewswire/ -- Point Capital Partners, LLC (Point Capital) and Forstmann & Co., LLC today announced that they have signed a definitive agreement to form Point Capital – Forstmann & Co., LLC (PCF). The combined entity will leverage each firm's existing personnel and assets in order to create a dynamic platform engaged in: liquid asset management, structured financial products, investment banking and brokerage, and private equity investments. PCF's merged capabilities will benefit entrepreneurs and small businesses through direct investment, and/or capital formation and advisory services.
The joint venture company combines Point Capital's existing alternative investment platform with Forstmann & Co.'s industry experience and pre-existing investments in smaller, dynamic growth companies. The transaction creates a complementary balance of capabilities, with all the elements of a partnership business model.
PCF will be managed by four partners: J. Anthony (Tony) Forstmann, who co-founded Forstmann-Leff Associates in 1968 and was an original investor in Forstmann Little & Co.; John Myers, who retired after 37 years with General Electric Company (GE) as President and CIO of GE Asset Management (GEAM), where he was responsible for approximately $200 billion assets under management; and Theodore Williams and Richard Swift, Managing Partners of Point Capital which was founded in 2003 to engage in entrepreneurial activities through brokerage, distressed asset purchases, private lending, and 'super-angel' early-stage investments. Prior to founding Point Capital, Williams was an investment banker at UBS and Salomon Smith Barney, and Swift was co-founder and portfolio manager of Stadia Capital, LLC (merged with Morgan Stanley in 2007).
Mr. Forstmann remarked, "I have always been attracted to investment opportunities with a significant magnitude of change. Drawing upon the well-established investing and advisory capabilities at Point Capital, PCF will look for high growth investments for our partners and clients."
Founded in 2003, Point Capital is a veteran owned Merchant Banking family of companies. Our platform is designed to foster entrepreneurship and innovation and to build businesses that have a positive impact beyond financial returns.
The business' principal office will be in Chatham, New Jersey, with offices in Los Angeles and New York.
SOURCE Point Capital Partners, LLC