McCourt Global and Veteran Lending Investor Kevin Griffin Launch MGG Investment GroupMG Capital, the investment solutions arm of McCourt Global, today announced the launch of MGG Investment Group LP (MGG), a private, specialty finance group focused on direct lending. MGG is led by CEO and Chief Investment Officer, Kevin Griffin, a veteran private lending investor and former managing director and Credit Committee member at Highbridge Principal Strategies. Based in New York City, MGG employs a differentiated approach to direct lending, focusing on complex investments in the underserved middle and lower-middle markets.
McCourt Global provided a $200 million initial commitment for the launch of MGG and working capital to support institutional best practices, infrastructure, and resources.
“I've worked with Kevin Griffin on a number of sizeable and extremely successful projects over the years and have been consistently impressed by his entrepreneurial spirit and real talent for building value and delivering results,” said Frank H. McCourt, Jr., chairman and CEO of McCourt Global. “MGG will be a flagship among McCourt Global brands and I'm eager to watch the organization grow and flourish under Kevin's strong leadership.”
“With the launch of MGG, we are building a lending business that combines industry best practices with a seasoned team and strong culture that can create value across market cycles,” said Griffin. “I am extraordinarily grateful to Frank McCourt. Thanks to his support and the resources of MG Capital, MGG has been able to quickly establish itself in the marketplace. The underserved companies we have financed to date reflect the tremendous market opportunity we see going forward.”
Prior to his tenure at Highbridge, Griffin served as Head of Private Investing for Octavian Advisors, an investment firm focused on global investing across debt and equity structures, and held senior roles at Fortress Investment Group, where he was responsible for originating and underwriting investment opportunities for Fortress' Drawbridge Special Opportunities Fund.
MGG's team is comprised of professionals drawn from leading lenders, restructuring advisors, banks, and law firms, who have together originated and invested in more than $5 billion of transactions. Gregory Racz is President, Chief Operating Officer and Chief Legal Officer of MGG. Previously, Racz served as President, Principal, and Chief Legal Officer of Hutchin Hill Capital, and before that in similar positions at Octavian Advisors where he worked with Griffin.
“I am thrilled to partner with Kevin again to help MGG fill a void in the market. For years, high-quality, mid-sized companies have found it difficult to access capital and compete with the larger players,” said Racz. “This reality creates an excellent opportunity for MGG to make smart investments and help deserving companies achieve and exceed their goals.”
About MGG Investment Group
MGG Investment Group, a McCourt Global brand, is a credit-focused asset management firm. The firm specializes in lending money to middle- and lower middle-market companies in North America. MGG is located at 888 Seventh Avenue, New York, NY 10106. Additional information can be found at mgginv.com.
About MG Capital
MG Capital is the investment solutions arm of McCourt Global, a leader in building value through entrepreneurial, strategic, and philanthropic investments. With roots dating back to 1893, McCourt Global was founded by real estate developer and philanthropist Frank H. McCourt, Jr. The firm's principal business units include: MG Properties, MG Capital, and MG Sports & Media. McCourt Global is headquartered in New York City, with offices in Los Angeles. Additional information can be found at mg.com.