Eric Beckman, a former Senior Partner at Ares Management, will join Breakwater Investment Management as Chairman and Co-Managing Partner. In this new role, Mr. Beckman will guide the strategic expansion of Breakwater’s private debt and private equity investment platform. He will manage the firm alongside Saif Mansour, Breakwater’s Founder and other Co-Managing Partner, and will also serve as Chairman of the firm’s investment committees.
“As a longtime friend of Saif’s, I’ve watched him develop Breakwater into a dynamic and growing asset manager. After a rewarding career in large financial organizations, I’m excited to apply my experience to help take the firm to the next level,” said Mr. Beckman. “Through both credit and equity funds, we intend to make Breakwater a one-stop capital solution provider for the lower middle market.”
Mr. Beckman’s background includes a distinguished 20-year career at Ares Management and Goldman Sachs. During his time at Ares from 1998 through 2013, he was a Senior Partner in both the Private Equity and Direct Lending groups, as the firm’s committed capital grew from approximately $1.2 billion to approximately $74.0 billion. In these roles, Mr. Beckman led and managed investments in private companies across several industries and through changing economic conditions. He was a member of multiple investment committees for both private and publicly traded Ares investment vehicles, and served as an Executive Vice President of Ares Capital Corporation. Prior to joining Ares, Mr. Beckman worked in the Investment Banking Division of Goldman Sachs, in its Leveraged Finance Group.
“I feel honored that Eric has decided to join Breakwater. Since we first met, I’ve admired his integrity, discipline, track record and depth of experience in private company investing. Eric has had an outstanding career in finance, and with his vision and leadership, Breakwater is positioned for exciting growth and continued success,” said Saif Mansour.
Breakwater Investment Management specializes in direct investments in small to lower middle market growth businesses with annual sales ranging from $5 million to $100 million. The firm serves as general partner of Breakwater Structured Growth Opportunities Fund, a $100 million open-ended private investment partnership formed in August 2008. The fund’s investment objective is to generate both current income and capital appreciation through secured debt investments accompanied with equity participation rights, primarily in growth-oriented companies across a variety of industries. Breakwater is based in Los Angeles (www.breakwaterfunds.com).
Breakwater has been actively adding new professionals to it team. Last month, consumer retail executive Deborah Benton join the firm as a Partner. Ms. Benton previously was the President and COO of Nasty Gal, an online women’s fashion retailer that targets the millennials market.
2014 PEPD • Private Equity’s Leading News Magazine • 12-16-14
