Star Mountain Capital has appointed Michael Karangelen (pictured) as managing director, and he will also become a member of the firm’s executive committee and various investment committees.
Karangelen joins Star Mountain, which has $4.5bn (£3.3bn) in assets under management, from Hale LLC, where he is currently chief executive. He has held senior management roles at a number of investment firms including Investindustrial and TowerBrook Capital Partners, and was previously an analyst at Goldman Sachs.
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He has more than three decades of experience building and overseeing private credit and private equity platforms, and in his new role, he will support the continued expansion of Star Mountain’s direct lending, structured equity, private equity and secondary investment strategies.
As a member of the firm’s executive and investment committees, he will contribute to firm-wide strategy, capital allocation and portfolio oversight while further strengthening the firm’s origination capabilities and underwriting discipline.
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“We believe that optimising the alpha and low market correlated return opportunities for investors in the lower middle-market requires skilled senior executives who have helped companies optimise value and worked through downturns, not just the ability to deploy capital,” said Brett Hickey, founder & chief executive of Star Mountain Capital.
“Our model combines senior secured lending, structured equity participation and hands-on portfolio support to help management teams succeed while protecting investor capital. Michael’s experience building and leading private equity platforms strengthens this approach.”
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