Peter K. Scaturro, Former Partner at Goldman Sachs Global Private Client and Former CEO of Citigroup Global Private Bank, joins Star Mountain Capital as Senior Advisor

Rhea-AI Summary

Star Mountain Capital, an investment firm with over $4.0 billion AUM focused on the lower middle-market, has announced that Peter K. Scaturro has joined as Senior Advisor. Scaturro brings 40+ years of experience in banking, wealth management, and financial services leadership. He was previously a Partner at Goldman Sachs (NYSE: GS) Global Private Client Business and CEO of Citigroup Global Private Bank. Star Mountain's Founder & CEO, Brett Hickey, expressed excitement about Scaturro's addition, citing his extensive leadership experience across multiple cycles as beneficial to all stakeholders. Scaturro highlighted the lower middle-market as a compelling opportunity for investors seeking to complement traditional portfolios.

Positive

• Addition of Peter K. Scaturro as Senior Advisor with 40+ years of financial services experience
• Star Mountain Capital's AUM exceeds $4.0 billion, indicating significant market presence
• Potential for enhanced stakeholder value through Scaturro's extensive leadership experience

Negative

• None.

Insights

Financial Industry Expert

Peter Scaturro's appointment as Senior Advisor to Star Mountain Capital is a strategic move for the firm. His extensive experience in wealth management and private banking could significantly enhance Star Mountain's capabilities in the lower middle-market space. Scaturro's background with $220 billion AUM at Goldman Sachs and $750 billion AUM at Citigroup Global Private Bank suggests he brings valuable insights into managing large-scale investment operations.

His experience across multiple economic cycles is particularly noteworthy, as it could help Star Mountain navigate market volatilities. However, investors should note that while Scaturro's expertise is in high-net-worth client management, Star Mountain's focus is on small and medium-sized businesses, which may require a different approach. The impact on Star Mountain's performance remains to be seen, but Scaturro's network and industry knowledge could potentially open new opportunities for the firm.

Private Equity Analyst

Star Mountain Capital's recruitment of Peter Scaturro signals a strategic enhancement of their advisory team. With over $4.0 billion in AUM, Star Mountain is positioning itself to capitalize on the less efficient lower middle-market. Scaturro's experience in overseeing large AUMs at Goldman Sachs ($220 billion) and Citigroup ($750 billion) could potentially help Star Mountain scale its operations and improve its investment strategies.

However, it's important to note that success in high-net-worth banking doesn't automatically translate to success in private equity, especially in the lower middle-market segment. Investors should watch for any changes in Star Mountain's investment approach or performance metrics following Scaturro's addition. His involvement might attract more institutional investors, potentially increasing the firm's AUM and deal flow, but the real test will be in maintaining or improving returns in their target market.

Star Mountain Capital, a rapidly growing employee-owned specialized investment firm with over $4.0 billion AUM, focused on delivering systematic alpha and low market correlated returns from making private loans and private equity investments and purchasing secondary LP interests and assets in the larger, fragmented and resources intensive lower middle-market, announced that Peter K. Scaturro has joined as Senior Advisor.

NEW YORK--(BUSINESS WIRE)-- Star Mountain Capital, LLC ("Star Mountain"), a specialized investment manager with over $4.0 billion in assets under management (committed capital including debt facilities as of 8/31/2024) focused on generating defensive, premium yield and total returns from the less efficient and resources-intensive market of U.S. private small and medium-sized businesses (the “lower middle-market”), is pleased to announce that Peter Scaturro has joined as Senior Advisor. Mr. Scaturro has 40+ years of banking, wealth management and financial services leadership experience at leading global financial institutions.

Peter Scaturro, Star Mountain Capital Senior Advisor (Photo: Business Wire)

“We are excited to welcome Peter as an aligned Senior Advisor where we believe his extensive leadership experience across multiple cycles will benefit all of our stakeholders,” said Brett Hickey, Star Mountain Capital Founder & CEO. “Peter’s extensive CEO, board, and 40+ years of financial services experience will add value to our Firm in many ways.”

“The lower middle-market provides a compelling market opportunity that I believe many investors haven’t yet benefitted from as a compelling complement to more traditional investment portfolios,” said Peter Scaturro. “Star Mountain has developed what I believe to be a distinctive platform where I also value its culture of economic alignment with team and investors.”

Mr. Scaturro was most recently a Partner in the Global Private Client Business of Goldman Sachs (NYSE: GS) where he oversaw the Global Private Client Business ($220 billion AUM; now Global Wealth Management). He was a member of the firmwide Goldman Sachs Business Practices Committee and served on the Investment Management Division Operating Committee.

Prior to Goldman Sachs, Mr. Scaturro was the Chief Executive Officer at U.S. Trust ($265 billion AUM) until its acquisition by Bank of America (NYSE: BAC) in 2007 for $3.3 billion.

Before becoming Chief Executive Officer at U.S. Trust, Mr. Scaturro was the Chief Executive Officer of Citigroup Global Private Bank ($750 billion AUM) where he was responsible for 98 offices in 38 countries. He also served as a member of Citigroup's Management Committee. During his tenure, the Global Private Bank’s earnings more than doubled and had industry leading margins.

Earlier in his career, Mr. Scaturro was a Partner at Bankers Trust (acquired by Deutsche Bank in 1999). Mr. Scaturro began his career in 1982 at Chase Manhattan Bank in New York City.

Mr. Scaturro received a Bachelor of Applied Science in Engineering and a Master of Engineering from Columbia University.

Mr. Scaturro is currently a Managing Partner at Regenerative SportsCare Institute, a world-renowned regenerative-medicine destination for non-surgical, interventional orthobiologic care in New York.

About Star Mountain

With over $4 billion in assets under management (committed capital including debt facilities as of 8/31/2024), 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). Star Mountain believes these complementary strategies provide data-enhanced, scalable, diversified, and customizable access for its institutional and qualifying 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 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, Star Mountain has made over 275 direct investments in businesses and over 50 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 fifth straight year, Star Mountain was again named one of the Best Places to Work by Crain’s New York Business as well as once again one of the 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 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.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20240903047473/en/

John Polis – Media@StarMountainCapital.com

Source: Star Mountain Capital, LLC

FAQ

Who is Peter K. Scaturro and what is his new role at Star Mountain Capital?

Peter K. Scaturro, former Partner at Goldman Sachs Global Private Client and former CEO of Citigroup Global Private Bank, has joined Star Mountain Capital as a Senior Advisor. He brings over 40 years of experience in banking, wealth management, and financial services leadership.

What is Star Mountain Capital's focus and current assets under management?

Star Mountain Capital is a specialized investment firm focused on the lower middle-market, making private loans and equity investments. As of August 31, 2024, the firm has over $4.0 billion in assets under management, including committed capital and debt facilities.

How might Peter Scaturro's experience benefit Star Mountain Capital?

Peter Scaturro's extensive CEO, board, and 40+ years of financial services experience across multiple economic cycles is expected to add value to Star Mountain Capital in various ways, potentially benefiting all stakeholders of the firm.

What was Peter Scaturro's role at Goldman Sachs (GS) before joining Star Mountain Capital?

Before joining Star Mountain Capital, Peter Scaturro was a Partner in the Global Private Client Business of Goldman Sachs (NYSE: GS), overseeing the Global Private Client Business with $220 billion AUM, now known as Global Wealth Management.