Strategic Value Partners, an investment firm focused on distressed, event driven and turnaround investments, has appointed Stephen J. McGuinness as a senior managing director. McGuinness will report to Victor Khosla, SVP’s founder and senior managing director.
Strategic Value Partners, LLC (SVP), a leading global investment firm focused on distressed, event driven and turnaround investments, today announced that Stephen J. McGuinness has joined the firm as a Senior Managing Director. Mr. McGuinness will be responsible for SVP’s business development activities, and will help oversee the firm’s various strategic initiatives and general operations. He will report to Victor Khosla, SVP’s Founder and Senior Managing Director.
Mr. McGuinness, age 53, joins the firm after a 19-year career at Goldman Sachs & Co., where, from 2009 to 2011, he served as Co-Chief Operating Officer of Goldman Sachs Asset Management, jointly managing the day-to-day operations of an $850 billion global asset management organization, and overseeing a 350-person institutional sales team. From 2006 to 2008, he was Co-Head of the Goldman Sachs Special Situations Group, which managed several billion dollars in proprietary capital in credit and distressed investments. From 1992 to 2005, Mr. McGuinness held a variety of leadership positions at Goldman Sachs, including Co-Head of Leveraged Finance Sales and Trading, Co-Head of European Fixed Income Sales, Global Fixed Income Chief of Staff, Head of North American Equity Sales and Chief Operating Officer of Global Compliance. He joined Goldman Sachs in 1992 and was named a managing director in 1997 and a partner in 2000.
“Steve McGuinness joins SVP at an exciting point in our growth,” said Victor Khosla, SVP’s Founder and Senior Managing Director. “His addition brings to our team senior management and sales expertise from one of the leading financial firms, as well as deep knowledge of credit and distressed situations having grown up in the business. Steve will work closely with Jean Louis Lelogeais, who will transition from running day to day business development to focus on developing and managing strategic institutional relationships for the firm.”
SVP has been extremely active over the recent past, investing approximately $2.2 billion over the last 20 months in US and European distressed opportunities, principally buying senior debt at an average price below 70% of face. Earlier this year, SVP closed on $918 million for Strategic Value Special Situations Fund II, well above its original $600 million target for the fund. And, in June, the firm led the successful recapitalization of Klöckner Pentaplast, taking control from Blackstone of the German plastics and packaging company, which has annual sales of more than €1 billion.
About Strategic Value Partners
Strategic Value Partners is a leading distressed and deep value investment firm with principal offices in Greenwich, Connecticut, London, Frankfurt and Tokyo. The firm has approximately $4 billion in assets under management primarily across its distressed and deep value strategy, and its distressed-for-control private equity strategy. SVP, which was founded in 2001 by Victor Khosla, has more than 100 employees, including 38 investment professionals.