MGG Investment Group, a specialty finance group focused on direct lending, has been launched by MG Capital, the investment arm of McCourt Global. McCourt Global has provided a $200 million initial commitment and additional working capital to fund the launch of MGG which will focus on investments in middle and lower-middle market companies that have from $10 million to $40 million of EBITDA.
MGG is led by CEO and Chief Investment Officer, Kevin Griffin, a private lending investor and former managing director and Credit Committee member at Highbridge Principal Strategies. Gregory Racz is President, Chief Operating Officer and Chief Legal Officer of MGG. Previously, Mr. Racz served as President, Principal, and Chief Legal Officer of Hutchin Hill Capital, and before that in similar positions at Octavian Advisors where he worked with Mr. Griffin.
McCourt Global’s principal businesses include: MG Properties, its real estate investment and development arm; MG Capital; and MG Sports & Media. The firm was founded by Frank McCourt, Jr., a real estate developer, philanthropist, and former owner of the Los Angeles Dodgers. McCourt Global is headquartered in New York City, with an additional office in Los Angeles (www.mg.com).
“I’ve worked with Kevin Griffin on a number of sizeable and extremely successful projects over the years and have been consistently impressed by his entrepreneurial spirit and real talent for building value and delivering results,” said Mr. McCourt. “MGG will be a flagship among McCourt Global brands and I’m eager to watch the organization grow and flourish under Kevin’s strong leadership.”
Prior to his tenure at Highbridge, Mr. Griffin served as Head of Private Investing for Octavian Advisors, an investment firm focused on investing across debt and equity structures, and held senior roles at Fortress Investment Group, where he was responsible for originating and underwriting investment opportunities for Fortress’ Drawbridge Special Opportunities Fund.
“With the launch of MGG, we are building a lending business that combines industry best practices with a seasoned team and strong culture that can create value across market cycles,” said Mr. Griffin. “I am extraordinarily grateful to Frank McCourt. Thanks to his support and the resources of MG Capital, MGG has been able to quickly establish itself in the marketplace. The underserved companies we have financed to date reflect the tremendous market opportunity we see going forward.”
MGG Investment Group is headquartered in New York (www.mgginv.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 1-14-15