Hedge Fund Alert – Stonehaven Expanding Affiliate Base

in-the-news

2021-11-03

Capital-markets services business Stonehaven is continuing its expansion plans. The firm, which expects to provide an array of technology-fueled functions to some 95 staffers at affiliated fundraising groups by yearend, is seeking to expand that number to 150 to 200 next year, up from just 50 in the first half of 2020.

Those individuals are currently working at about 50 affiliates, and Stonehaven is also looking to add larger affiliates. Those groups raise capital for individual companies and market alternative investment funds. While Stonehaven has some affiliates that have close to 10 staffers, most have in the low-single digits.

To aid in that growth, Stonehaven partner Mark Sullivan has moved into a role in which he is focusing on adding affiliates. Sullivan joined Stonehaven in 2013 from Man Investments, where he headed U.S. sales. Most recently, Sullivan had been focused on vetting and managing the addition of new fundraising mandates.

That function is now being filled by Brian Gaffney, who started at Stonehaven this month as head of due diligence and mandate management. Gaffney joined from Singapore sovereign wealth fund GIC, where he headed operational due diligence in the Americas and Europe for alternative investment funds. Global SWF estimates GIC is the fourth-largest sovereign wealth fund, having managed from $550 billion to $774 billion of assets as of March 31. Gaffney started at GIC in 2018 and earlier worked for Blackstone as an assistant vice president.

Stonehaven expects to provide an array of technology-fueled functions to some 95 staffers at affiliated fundraising groups by yearend and is seeking to expand that number to 150 to 200 next year.

Led by founder David Frank, Stonehaven got its start as a placement agent business, later shifting to a company that services fundraisers in all facets of their business but that doesn’t raise capital itself. More than half of Stonehaven’s affiliates focus on raising capital for individual investment deals, rather than funds.

Stonehaven maintains a broker-dealer license used by all of its affiliates, for whom its central staff of slightly more than 20 provides technology, management and legal services.

Stonehaven also encourages affiliates to enter into so-called cross-marketing arrangements – in which a group that originates a mandate may share it with others and determine who else may market the mandate, and to which investors.

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About Stonehaven, LLC

Stonehaven is a private capital markets FinTech operating system (technology + infrastructure + data) and collaboration network (origination + distribution) for investment bankers and placement agents (Affiliate Partners) to support companies and investors. Our next generation operating system supports the entire lifecycle of deals: sourcing, contracting, due diligence, identifying target investors/buyers, managing execution (robust CRM architecture), collaborating with other dealmakers, reporting and closing transactions. Our Affiliate Partners are active across all sectors of private capital markets: raising capital, executing M&A transactions and conducting secondaries.

May 06, 2024

Ashley Taylor Joins as Stonehaven’s Director of Partner Success

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Apr 30, 2024

Andrei Gheorghe of Ramana Capital, Joins Stonehaven’s Affiliate Platform.

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Apr 22, 2024

Adam Kneller of Capital Formation Partners, Joins Stonehaven’s Affiliate Platform.

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Apr 18, 2024

The Journey from In-House Fund Marketer to Placement Agent

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Apr 11, 2024

Brandon Crombeen of Greybrook Securities, Joins Stonehaven’s Affiliate Platform.

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Apr 08, 2024

Christian Wood, Managing Partner of Riverview Capital Partners, Joins Stonehaven’s Affiliate Platform

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Apr 08, 2024

Johnny Ruiz, Partner of Riverview Capital Partners, Joins Stonehaven’s Affiliate Platform

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Apr 02, 2024

John "Wally" Sullivan of Supper Island Capital, Joins Stonehaven’s Affiliate Platform

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Mar 28, 2024

Jack McGreal of McGreal Consulting Group, Joins Stonehaven’s Affiliate Platform

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Mar 13, 2024

Barry McCullough of Greybrook Securities, Joins Stonehaven’s Affiliate Platform.

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LATEST NEWS
  • May 06, 2024

    Ashley Taylor Joins as Stonehaven’s Director of Partner Success

    read more
  • Apr 30, 2024

    Andrei Gheorghe of Ramana Capital, Joins Stonehaven’s Affiliate Platform.

    read more
  • Apr 22, 2024

    Adam Kneller of Capital Formation Partners, Joins Stonehaven’s Affiliate Platform.

    read more
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