Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact firstname.lastname@example.org.
SOURCE Kimberlite Group, LLC
New boutique investment bank to focus on real estate and financial services opportunities, led by Thomas F. O'Neill, Michael D. Coster, Kenneth B. Hamlet and Alan J. Pomerantz; Lewis S. Ranieri is Senior Advisor.
NEW YORK, Oct. 8, 2013 /PRNewswire/ -- Four leading financial and real estate executives today announced the establishment of Kimberlite Group, LLC and its subsidiary, Kimberlite Advisors LLC*, a U.S. registered broker-dealer and member FINRA/SIPC. Kimberlite Advisors LLC, a boutique investment bank, provides senior level advice and services to financial institutions, real estate companies, institutional investors, financial sponsors and family offices with a special emphasis on real estate engagements and the needs of financial institutions. The firm, which recently purchased Ranieri Real Estate Advisors, today also announces the establishment of its merchant banking division Kimberlite Asset Management, LLC. The founding principals are Thomas F. O'Neill, Michael D. Coster, Kenneth B. Hamlet and Alan J. Pomerantz.
Thomas F. O'Neill, Co-Chief Executive Officer of Kimberlite Group, was the co-founder of the privately held investment bank Sandler O'Neill + Partners and most recently the former Chief Executive Officer of Ranieri Financial Services Group (RFS). He also serves on the board of directors of NASDAQ Stock Market, Inc., where he is chairman of the finance committee and a member of the executive committee. He is also a Director of Archer Daniels Midland Company where he serves as a member of its Compensation/Succession committee.
Michael D. Coster, who will also serve as Co-Chief Executive Officer of Kimberlite Group, was most recently the president of Ranieri Real Estate Advisors. Previously he was a co-founder of Occom Capital Partners, LLC and a Managing Director and Real Estate Group Head in the Private Fund Advisory Group of Lazard Freres & Co. LLC. Prior to that, he was Group Head for U.S. Real Estate Investment Banking at RBC Capital Markets and a member of the firm's U.S. Operating Committee. He currently serves on the board of a subsidiary company of Bank of America Merrill Lynch.
Kenneth B. Hamlet was the President and Chief Executive Officer at Holiday Inns Inc., where he was instrumental in the acquisition of Harrah's and participated in the $2.5 billion recapitalization of Holiday Corp. Currently, he is Chairman of Terrapin Investments as well as a Senior Advisor at Crestview Partners L.P. He will serve as the Chairman of Kimberlite Group.
Alan J. Pomerantz, who will serve as Vice-Chairman of Kimberlite Advisors, was a partner at the international law firm Weil, Gotshal and Manges for 17 years, where he was the chair of the Global Real Estate and Finance practice and a member of the Management Committee. He will continue to serve as senior counsel at Pillsbury Winthrop Shaw Pitman, LLC.
In addition, Lewis S. Ranieri, Chairman and President of Ranieri & Co., Inc. and widely credited as the "father" of the securitized mortgage market, will serve as Senior Advisor on Kimberlite's advisory board.
"We are excited about having a platform for delivering high quality advice based on our principals' deep experience to regional banks, community banks, and specialty finance companies that are typically underserved by traditional investment banking firms," said O'Neill, who will head Kimberlite's financial institutions group.
Said Coster, the head of the real estate group, "The way that capital is currently being raised for real estate opportunities is changing, creating the need for advisors who can help match and structure direct relationships between large, vertically integrated operators with global institutional capital sources for strategies that don't fit typical real estate private fund parameters. We believe that our team has the skill set and relationships to fill that need."
"Kimberlite has a combination of deep senior level relationships, client focus, and structuring capability that puts it in a unique position to successfully navigate the financial, regulatory, and operational complexities of these types of large-scale opportunities in real estate and for financial institutions," added Ranieri. "I am pleased to act as an adviser to this team."
*Securities or investments, as applicable, offered through Kimberlite Advisors, LLC, a member FINRA/SIPC and wholly-owned subsidiary of the Kimberlite Group, LLC. For more information about Kimberlite Advisors, please visit www.kimberlitegroupllc.com.
©2012 PR Newswire. All Rights Reserved.