Andrew P. Dempsey, former chief operating officer of Fortress Investment Group‘s Permanent Capital Business Group, has joined Easterly Capital, a private investment firm founded by former Affiliated Managers Group chief financial officer Darrell Crate. Dempsey will be responsible for capital formation and business development.
Andrew P. Dempsey, 36, formerly chief operating officer of Fortress Investment Group’s Permanent Capital Business Group, has joined Easterly Capital, the private investment firm founded by former Affiliated Managers Group (NYSE:AMG) Chief Financial Officer Darrell Crate. Dempsey, a managing director of the firm, will be responsible for capital formation and business development.
Dempsey is the latest addition to a powerful team at Easterly focused on creating proprietary products and other asset creation opportunities for institutional investors. Dempsey’s skills and expertise complement Easterly’s expanding capabilities with the recent additions of former Fortress Investment Group colleague David Cody, who oversees Easterly’s expanding distribution capabilities, as well as former J. C. Flowers & Co. executive Avshalom (“Avi”) Kalichstein, who is responsible for origination and underwriting.
“Andrew Dempsey has built a reputation for helping to grow businesses while providing access to extraordinary opportunities for institutions and other investors,” said Crate. “Andrew will be an excellent addition to our growing roster of accomplished private investment executives as we continue to identify and create products for clients that achieve specific risk-return objectives at a fair cost.”
Dempsey most recently was a managing director at Fortress Investment Group, where he served as chief operating officer of the Permanent Capital Business Group and as a member of the firm’s Management Committee. Prior to that, he was the global head of capital formation for the Liquid Markets business at Fortress.
Prior to joining Fortress in 2005, Dempsey was a regional director for Allegiance Capital with responsibility for marketing and distribution of fixed-income products for the southwest United States and Mexico. Earlier, he was a fixed-income specialist for the Enterprise Unit at SEI Investments. A native of Huntington Beach, California, Dempsey received a B.B.A. degree in Economics and Finance with a second major in Mathematics from the University of Notre Dame, where he was a member of the varsity football team.
“Easterly Capital is fielding an outstanding team of investment professionals as it develops new products for institutional investors, and I’m pleased to be a part of this effort,” said Dempsey.
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.