- McCourt and veteran private lending investor Kevin Griffin launch MGG Investment Group LP (MGG)
- The private, specialty finance group focuses on complex investments in the underserved middle and lower-middle markets
- McCourt provided $200 million initial commitment
- Griffin serves as CEO and Chief Investment Officer
McCourt 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 sizable 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 at the time of the announcement. “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 at 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’s Drawbridge Special Opportunities Fund.
MGG’s team is composed of professionals drawn from leading lenders, restructuring advisors, banks, and law firms, which 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, midsize 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.”