New York-based Cortec Group has added Robert Schwartz to its investment team as a new partner.
Mr. Schwartz joins Cortec from TZP Group, a lower middle market private equity firm which invests primarily in consumer and business-to-business products and service companies. While at TZP, Mr. Schwartz led several of the firm’s consumer products and business services companies and also served as leader of the firm’s portfolio operations group.
Prior to TZP, Mr. Schwartz was the president of Undertone, a digital media and marketing company and before that he was the vice president of corporate strategy and development at the Topps Company, where he worked closely with Cortec Managing Partner Doug Kruep. Mr. Schwartz began his career with Bain & Company after receiving his undergraduate degree and MBA from Harvard.
In his new position with Cortec, Mr. Schwartz will be active with portfolio company acquisitions, including due diligence, and post-closing company building and development activities.
“Rob is a valuable addition to the Cortec team,” said David Schnadig, a co-president of Cortec. “He is another high-powered business leader who will bring an array of relevant real-world experiences to our portfolio company management teams. Further, he has already successfully transitioned from the corporate world to private equity, as evidenced by his track record at TZP. Even better than Rob’s professional accomplishments, Rob is a great guy who fits seamlessly with Cortec’s culture.”
Cortec invests from $100 million to $500 million in equity in United States and Canadian companies with EBITDA of $10 million to $50 million. Sectors of interest include consumer, healthcare, and specialty services and products. The firm was founded in 1984 and is headquartered in New York City.
In February 2024, Cortec held the final close of its eighth institutional private equity fund, Cortec Group Fund VIII LP (Fund VIII) with $3.2 billion of total capital commitments. The new fund closed above its target of $2.5 billion and, with approval from its limited partners, above its $3.0 billion hard cap. Cortec now has more than $6 billion in assets under management.
© 2024 Private Equity Professional | October 11, 2024
