Jefferies backs new investment firm Stonyrock
Summary
Stonyrock will target minority equity stakes in high-quality, middle-market alternative managers across a range of asset classes, strategies and geographies, creating a highly diversified portfolio of partnerships. Stonyrock’s strategy seeks to address the growing demand from alternative managers to bring in outside capital to execute on a range of strategic priorities including franchise growth initiatives, operational investments and succession planning. In a joint statement, Jefferies’ Rich Handler, CEO, and Brian Friedman, President, said: “We are excited to partner with Craig and Sean in launching Stonyrock to address a growing market opportunity. Stonyrock will seek to acquire economic interests in firms that manage strategies across asset classes including, but not limited to, private equity, credit, hedge funds, real estate, venture, and infrastructure. Jefferies Group LLC offers a full range of investment banking, equities, fixed income, asset and wealth management products and services.