Star Mountain Capital, a rapidly growing employee-owned specialized investment firm with over $3.5 billion AUM, focused on delivering systematic alpha and low market correlated returns from high yielding private loans with equity upside in the lower middle-market, announced that Gregory Summe has joined as Senior Advisor.
Star Mountain Capital, LLC ("Star Mountain"), a specialized investment manager with approximately $3.5 billion in assets under management (committed capital including debt facilities as of 10/31/2023) focused on generating premium returns from the less efficient and labor-intensive market of U.S. private small and medium-sized businesses (the “lower middle-market”), is pleased to announce that Gregory Summe has joined as Senior Advisor.
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Gregory Summe - Senior Advisor, Star Mountain Capital (Photo: Business Wire)
Mr. Summe has 30+ years of experience as an investor, operator and C-level executive with additional leadership experience through serving as a board member for multiple companies in the engineering, aerospace, finance and data analytics industries. He has completed over 200 private equity investments as an investment committee member and has also acquired or sold more than 40 companies as a company CEO.
Mr. Summe spent 5 years as Vice Chairman, Partner, and Investment Committee member of the Global Buyout group at The Carlyle Group (~$375 bn AUM). He was also a member of Carlyle’s Operating Committee.
Prior to Carlyle, Mr. Summe served as a Senior Advisor to Goldman Sachs Capital Partners. During his tenure at Goldman Sachs, he was the interim CEO of the Hawker-Beechcraft Corp (a Goldman Sachs Capital Partners portfolio company).
Before moving into private equity, Mr. Summe joined PerkinElmer (NYSE: PKI) in 1998 as President and in 1999 was elected Chief Executive Officer and Chairman of the Board. During his tenure at PerkinElmer until 2009, Mr. Summe transformed the company from a diversified defense contractor known as EG&G to a global technology leader in health sciences.
“Greg has tremendous industry, operating and investment insights that we believe will be additive to our portfolio companies, investors and team,” said Brett Hickey, Star Mountain Capital Founder & CEO. “We constantly strive to increase the probabilities of our desired results including with smart and aligned people like Greg who bring complementary experiences, resources and relationships.”
“Star Mountain’s purpose-built business model bringing larger market expertise to smaller businesses in the large and fragmented lower middle-market is differentiated and compelling,” said Greg Summe. “I am excited to work with long-time and new friends at Star Mountain to help them continue to execute against their mission of bringing as much value as possible to this underserved lower middle-market.”
Prior to joining PerkinElmer, Mr. Summe was with AlliedSignal, now Honeywell International, serving as the President of General Aviation Avionics, President of the Aerospace Engines Group and President of the Automotive Products Group. Before joining AlliedSignal, Mr. Summe was the General Manager of Commercial Motors at General Electric and was a Partner with the global consulting firm McKinsey & Company, Inc.
Current public and private board roles include NXP Semiconductors NV (NASDAQ: NXPI) where he is the Chairman of the Compensation Committee, State Street Corporation (NYSE: STT) where he is the Chairman of the Strategy Committee, Avantor Inc. (NYSE: AVTR) where he is the Chairman of the Nomination & Governance Committee and Pella Corporation where he is the Chairman of the Compensation Committee.
Mr. Summe holds B.S. and M.S. degrees in electrical engineering from the University of Kentucky and the University of Cincinnati, as well as an M.B.A. (with distinction) from the Wharton School at the University of Pennsylvania. He is in the University of Kentucky’s Hall of Distinction.
About Star Mountain
With over $3.5 billion in assets under management (committed capital including debt facilities as of 10/31/2023), Star Mountain takes a data-driven approach to investing into the North American lower middle-market through two complementary investment strategies: (i) direct debt and equity investing and (ii) secondaries (acquiring LP interests and direct assets and making primary LP commitments) and NAV loans to funds. Star Mountain believes these complementary strategies provide data-enhanced, scalable, diversified, and customizable access for its institutional and high-net-worth investors to established businesses that generally have at least $15 million in annual revenues and under $50 million in EBITDA. Its investors include public pensions, private pensions, insurance companies, commercial banks, endowments, foundations, family offices and high-net-worth individuals. Star Mountain is 100% employee-owned and shares its profits with 100% of its U.S. full-time employees as part of its focus on maximizing value for its stakeholders and investors through alignment of interests.
Since 2010 through October 2023, Star Mountain has made over 200 direct investments in businesses and over 40 secondary / fund investments within its Collaborative Ecosystem®, focused on the North American lower middle-market. One of Star Mountain’s specialties is seeking current cash income for investors that is materially above the typical yields found in the public markets, often accompanied with potential long-term capital gains equity returns and low correlation to public markets through its distinctive origination, underwriting and value-added investment capabilities.
Star Mountain was recently named one of the Inc. 5000 fastest-growing private companies in America.
For the fourth straight year, Star Mountain was again named one of the 2022 Best Places to Work by Crain’s New York Business as well as once again one of the 2022 Best Places to Work by Pensions & Investments.
Star Mountain believes its focus and dedication has been productive for job creation and economic development including in underserved areas and communities. Star Mountain is dedicated to this large market of underserved businesses purpose-built to address the challenges and opportunities of these companies. As part of its commitment, Star Mountain has trademarked Investing in the Growth Engine of America ®.
Star Mountain’s Charitable Foundation, a not-for-profit 501(c)3 focuses on improving lives through economic development, including job creation, health & wellness and cancer research. Notable missions include helping match veterans and women with high quality small and medium-sized business career opportunities across the country, including within Star Mountain’s portfolio.
Note: This does not constitute an offer to sell or a solicitation of an offer to purchase interests in any investment product. Awards and recognitions by unaffiliated rating services, companies and/or publications should not be construed by a client or prospective client as a guarantee that he / she / it will experience a certain level of results if Star Mountain is engaged, or continues to be engaged, to provide investment advisory services; nor should they be construed as a current or past endorsement, testimonial endorsement, recommendation or referral of Star Mountain or its representatives by any of its clients or any other third party. Rankings published by magazines and others are generally based exclusively on information prepared and / or submitted by the recognized advisor. Moreover, with regard to all performance information contained herein, directly or indirectly, if any, readers should note that past results are not indicative of future results. The description and the selection methodologies of each award and recognition are subjective and will vary.
Awards and recognitions by unaffiliated rating services, companies, and/or publications should not be construed by a client or prospective client as a guarantee that he/she/it will experience a certain level of results if SMFM is engaged, or continues to be engaged, to provide investment advisory services; nor should they be construed as a current or past endorsement, testimonial endorsement, recommendation or referral of SMFM or its representatives by any of its clients or any other third party. Rankings published by magazines and others are generally based exclusively on information prepared and/or submitted by the recognized advisor.
Crain’s two-part survey process consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. The second part involved an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Star Mountain must pay a fee to Crain’s only for survey collection purposes. Detailed eligibility criteria can be found here: https://bestcompaniesgroup.com/best-companies-to-work-for-in-new-york/eligibility/
To be named to P&I‘s Best Places list, all firms met Best Companies’ high threshold for inclusion and were evaluated against others of similar size. Individual firm profiles, which were compiled based on survey results, reflect U.S. employment numbers and were confirmed by Best Companies in the summer. Company and employee comments were edited for space, style and clarity. Assets under management or advisement are as of June 30, unless otherwise noted. To participate, companies had to have at least 20 employees in the U.S., at least $100 million of discretionary assets under management or advisement and be in business for at least one year. An anonymous employee survey, which aimed to evaluate employee engagement and satisfaction, accounted for 75% of a firm’s score; an employer survey, which evaluated workplace policies, practices, benefits and demographics, made up 25%. https://bestcompaniesgroup.com/best-places-to-work-in-money-management/eligibility/
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine rankings were calculated to four decimal places. https://www.inc.com/inc5000
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Contacts
John Polis – Media@StarMountainCapital.com
