Beverly, Mass.-based Investment firm Easterly Capital has hired David Cody and Avi Kalichstein to its team. Cody is a co-founder and former CEO of MatlinPatterson Asset Management while Kalichstein is a founder of Solel Investment Group as well as a former managing director at J.C. Flowers & Co..
BOSTON, June 4, 2014 – David Cody, 45, one of the early partners at Fortress Investment Group, and Avshalom (“Avi”) Kalichstein, 39, a former managing director at J. C. Flowers & Co., have joined Easterly Capital, the private investment firm founded by former Affiliated Managers Group (NYSE:AMG) Chief Financial Officer Darrell Crate. At Easterly, Cody will oversee an expanding distribution capability and Kalichstein will lead a diverse asset underwriting effort. Both men will focus mainly on new asset opportunities for institutional investors.
Cody and Kalichstein are the latest additions to a powerful team of experts at Easterly focused on creating proprietary products, seeding and acquiring emerging asset managers or partnering with proprietary asset origination sources to commercialize specific investment products.
“We have no doubt that with the additions of David and Avi, two of the most respected professionals in the business, Easterly Capital is well-positioned to be the strategic partner of choice for both buyers and sellers of assets,” said Crate. “This team will enable us to identify opportunities where others see none, and to navigate around complex barriers to entry that many others lack the expertise to negotiate.”
Cody co-founded MatlinPatterson Asset Management in 2010 and most recently served as its chief executive officer, focusing primarily on long/short credit, mortgage credit and senior credit deals. Prior to that, he was a president and an early partner at Fortress Investment Group, where he oversaw the hybrid/credit group and played an influential role in helping the firm grow assets to more than $40 billion between 2002 and 2010. Cody holds a B.A. degree from Colby College.
“With the strength and resources of Easterly, we will be able to provide even more opportunities to clients who are relying on us to originate, underwrite and structure discrete, cash-flow investment products at a certain level of risk and at a reasonable price,” said Cody.
Kalichstein founded specialty finance asset manager Solel Investment Group in 2011. Prior to forming Solel, he was a managing director of J.C. Flowers & Co. from 2004 to 2011, where he was responsible for originating, monitoring, managing and disposing of financial services-related assets around the world. From 2001 to 2004, he worked for Shinsei Bank in Tokyo, where he led the corporate development group. He began his career in the Financial Institutions group at Goldman Sachs. Kalichstein holds a B.A. degree, magna cum laude, in Mathematics and Economics from Brown University.
“I am excited to be joining Easterly, a firm well-respected for its deep alternative asset management expertise and ability to generate substantial results for its investors,” said Kalichstein.
Crate added, “We are excited to have David and Avi join our team. Both have proven track records of identifying market and industry dislocations and building successful funds around those opportunities. Given the current environment, we look forward to finding the best opportunities possible for our investors.”
About Easterly Capital
Easterly Capital is a private asset management firm that develops both alternative and traditional investment vehicles to satisfy the specific risk return objectives of clients. Easterly’s products are comprised of real estate, natural resources, and financial assets, including those in niche, non-bank finance markets. Through an affiliate, Washington, D.C.-based Easterly Partners, Easterly invests in a highly specialized segment of the U.S. Government-leased real estate market. As of March 31, 2014, Easterly Capital, through its affiliated entities, managed over $1 billion of assets, mostly in private equity and alternative vehicles for institutional and ultra high net worth investors. For more information, visit www.easterlycapital.com.