B. Riley Financial Hires Dan Kraft and Tim Bottrell to Launch Financial Sponsors Group

Rhea-AI Summary

B. Riley Financial (NASDAQ: RILY) has launched a new Financial Sponsors Group, aiming to enhance relationships with alternative capital managers such as private equity firms and hedge funds. Dan Kraft and Tim Bottrell have been appointed as Co-Directors, bringing extensive investment banking experience from J.P. Morgan and Goldman Sachs, respectively. Their expertise is expected to drive value for middle-market sponsors, with a strong focus on delivering comprehensive service offerings. This initiative is seen as a significant milestone in the company's growth strategy.

Positive

• Launch of Financial Sponsors Group to enhance relationships with alternative capital managers.
• Appointment of experienced leaders Dan Kraft and Tim Bottrell is expected to drive value.
• Initiative is viewed as a key milestone for company growth.

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• None.

LOS ANGELES, Nov. 18, 2020 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company"), a leading business advisory and financial services company, today announced the launch of B. Riley Financial Sponsors Group. The team will focus on developing and maintaining relationships with alternative capital managers, including private equity firms, family offices, sovereign wealth, credit funds and hedge funds. Dan Kraft and Tim Bottrell recently joined B. Riley to lead the group as Co-Directors of Financial Sponsors Coverage.

"The launch of our Financial Sponsors Group is a key milestone for B. Riley enabling us to dedicate the right resources to drive value for middle market sponsors and alternative capital managers. With each assignment, we will deliver the broad service offering and benefits of B. Riley Financial," said Tom Kelleher, co-Chief Executive Officer, B. Riley Financial. "We're thrilled to have Dan and Tim leading the effort. Their deep relationships and expertise will help ensure we're delivering superior results to our clients."

In their new roles, Dan and Tim will be focused on developing relationships with sponsors, collaborating with B. Riley Senior Management and coordinating with personnel who routinely interact with sponsors.

"I'm excited to be a part of a firm with so much to offer," said Mr. Kraft. "I look forward to bringing B. Riley's robust range of capabilities to the sponsor community."

"I'm thrilled to support the Company's rapid growth with a creative and differentiated approach that will help the firm continue to expand and strengthen its sponsor relationships," said Mr. Bottrell.

Mr. Kraft joins the firm with over seven years of investment banking experience where most recently he served as a Vice President in the Financial Sponsors Group at J.P. Morgan. During his tenure, Dan assisted with dozens of M&A advisory assignments, debt and equity capital fundraises for both public and private companies. Earlier in his career, he was at Bank of America serving large-cap investment grade clients. Dan holds a BS in Finance and Economics from The University of New Hampshire. He will be based in B. Riley's Los Angeles office.

Mr. Bottrell comes aboard from Goldman Sachs' Global Markets Division where he led the Multi-Asset Originations effort. During his tenure, he originated dozens of public and private investment, lending, and co-investment opportunities across Investment Banking, Merchant Banking, Private Wealth Management and Global Markets. Tim began his career at Bloomberg LP, where he was an original member of the Bloomberg Mandates platform. He holds a BS in Economics from Rutgers University and will be based in B. Riley's New York office.

About B. Riley Financial, Inc.
B. Riley Financial (NASDAQ: RILY) provides collaborative financial services solutions tailored to fit the capital raising, business, operational, and financial advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, corporate advisory, restructuring, due diligence, forensic accounting and litigation support, appraisal and valuation, and auction and liquidation services. Certain registered affiliates of B. Riley originate and underwrite senior secured loans for asset-rich companies. B. Riley also makes proprietary investments in companies and assets with attractive return profiles. For the latest Company news and developments, follow B. Riley on Twitter @BRileyFinancial and LinkedIn. For more information about B. Riley, visit our website at www.brileyfin.com.

Forward-Looking Statements
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Factors that could cause such actual results to differ materially from those contemplated or implied by such forward-looking statements include, without limitation, the risks associated with the unpredictable and ongoing impact of the COVID-19 pandemic and other risks described from time to time in B. Riley Financial, Inc.'s periodic filings with the SEC, including, without limitation, the risks described in B. Riley Financial, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2019, and Quarterly Report on Forms 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and B. Riley Financial, Inc. undertakes no duty to update this information.

Contacts
Investor Relations	Media Relations
Brad Edwards	Scott Cianciulli
ir@brileyfin.com	press@brileyfin.com
(818) 746-9310	(212) 739-6753

 

 

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SOURCE B. Riley Financial

FAQ

What is the purpose of B. Riley Financial's newly launched Financial Sponsors Group?

The Financial Sponsors Group aims to develop relationships with alternative capital managers, such as private equity firms and hedge funds, enhancing the company's service offerings.

Who are the leaders of B. Riley Financial's Financial Sponsors Group?

Dan Kraft and Tim Bottrell have been appointed as Co-Directors of the Financial Sponsors Group.

What experience do Dan Kraft and Tim Bottrell bring to B. Riley Financial?

Dan Kraft has over seven years of investment banking experience, previously at J.P. Morgan. Tim Bottrell comes from Goldman Sachs' Global Markets Division, where he led Multi-Asset Originations.

How will the launch of the Financial Sponsors Group affect B. Riley Financial's growth?

The initiative is expected to drive value for middle-market sponsors and strengthen relationships with alternative capital managers, contributing to the firm's overall growth strategy.