Jeff Hammer and Paul Sanabria have joined Houlihan Lokey to co-lead a team focused on the secondary market for partnerships and other private investments held by institutional investors. They were previously with Bear Stearns & Co.
Houlihan Lokey, an international investment bank, today announced that Jeff Hammer and Paul Sanabria have joined the firm to lead a team focused on the secondary market for partnerships and other private investments held by institutional investors. Messrs. Hammer and Sanabria each have over 15 years of experience in building businesses that have advised both the institutional limited partner community as well as the financial sponsor community. They will be based in New York, reporting to Bob Hotz and Scott Adelson, Global Co-Heads of Investment Banking.
For Houlihan Lokey, the secondary advisory practice is a natural extension of the firm’s market-leading M&A franchise and builds on its deep valuation and financial restructuring experience. “The additions of Jeff and Paul are a big win for us,” commented Mr. Hotz. “Their experience, knowledge and contacts will definitely help us expand the suite of services we can offer institutional limited partners and other private equity and real estate investors.”
“The time is right for Houlihan Lokey to be serving this market,” stated Paul Sanabria. “Investors are unsure of asset values, yet they need liquidity solutions now. By marrying Houlihan Lokey’s valuation expertise with our knowledge of capital providers, we can offer compelling advice and transaction support which meets a critical market need.”
The secondary market has grown dramatically over the past decade as has demand for advisory services. Messrs. Hammer and Sanabria will be able to create a unique offering of services for institutional clients by leveraging Houlihan Lokey’s core competencies. “We are thrilled to be a part of this dynamic franchise,” stated Mr. Hammer. “We are excited to introduce Houlihan Lokey to a new client base.”
Veterans of Bear Stearns, where they built both primary and secondary private equity businesses, Messrs. Hammer and Sanabria have extensive experience in the illiquid private markets. “Jeff and Paul are well-positioned to serve this market having been investors, asset managers, and advisors to both institutional investors and financial sponsors throughout their careers,” commented Mr. Adelson. “They will provide our clients with sound advice and innovative solutions to meet the challenges of the current environment.”
About Houlihan Lokey
Houlihan Lokey, an international investment bank, provides a wide range of advisory services in the areas of mergers and acquisitions, financing, financial restructuring, and valuation. The firm was ranked the No. 1 M&A advisor for U.S. transactions under $2 billion in 2008 and the No. 1 U.S. fairness opinion advisor over the past 10 years by Thomson Reuters. In addition, the firm advised in 11 of the 15 largest corporate bankruptcies and on over 500 restructuring transactions valued in excess of $1.25 trillion in the past 10 years. The firm has over 800 employees in 14 offices in the United States, Europe and Asia. Each year we serve more than 1,000 clients ranging from closely held companies to Global 500 corporations. For more information, visit www.HL.com.