Backcast Partners Promotes Team and Expands Operations

Exciting Developments at Backcast Partners

In a significant move, Backcast Partners, a notable provider of debt and equity capital for middle-market companies, recently announced key promotions within its team and a new office location aimed at accommodating its ongoing expansion.

Promotions Recognizing Talent

As part of its initiative to bolster its management team, Backcast has promoted Neil Chirite and Ryan Stuckert to the level of Managing Director, while Ronen Barak has ascended to the position of Vice President. These promotions recognize their contributions and expertise in their respective fields.

Neil Chirite's Impact

Joining Backcast in 2018 from Citibank's M&A group, Neil has consistently demonstrated a knack for investment execution and portfolio management. He has been a pivotal force behind various projects, including involvement in notable investments such as The Alaska Club and USG Water Services. His ability to drive results is reflected in the successful realizations of the Arcticom and Made by Gather investments.

Ryan Stuckert's Expertise

Ryan came aboard Backcast in 2023, bringing with him a wealth of experience gained during his 13 years at Siguler Guff. His background encompasses both private and public corporate credit investments. At Backcast, he emphasizes sourcing, due diligence, and portfolio management, playing a crucial role in significant projects including Jackson Hewitt and World Water Works.

Ronen Barak's Strategic Focus

Ronen, who joined Backcast in 2023 from an investment firm specializing in sports and entertainment, has a solid foundation in evaluating and originating investments. His previous experience equips him to contribute meaningfully to Backcast's strategic objectives.

New Office Location Reflects Growth

To support this growth, Backcast Partners has relocated its New York City offices to a new address at 950 Third Avenue. This move marks an important milestone as the company strives to enhance its operating capabilities while accommodating an expanding team.

About Backcast Partners

Established in 2016, Backcast Partners is dedicated to managing value-additive, credit-focused private investment funds. These funds provide essential capital to both private equity-backed and independently owned firms, having accumulated around $1.3 billion in assets under management. The firm is experienced in supporting traditional middle-market companies, particularly those with EBITDA ranging from $7.5 million to $50 million.

Backcast's flexible capital mandate allows for investments between $20 million and $150 million per transaction, establishing the firm as a key player in financial solutions for businesses aiming for growth and expansion.

Contact Information

For companies interested in seeking capital, Mark Gudis, Managing Partner, is available for discussions. His direct contact can facilitate inquiries into potential investments.

Additionally, investor information can be sought from David Petrucco, also a Managing Partner, reinforcing Backcast's commitment to providing accessible communication channels for stakeholders.

Frequently Asked Questions

1. What significant changes were announced by Backcast Partners?

Backcast Partners announced key promotions within its team and relocated its New York City office to support ongoing growth.

2. Who were the individuals promoted at Backcast Partners?

Neil Chirite and Ryan Stuckert were promoted to Managing Directors, while Ronen Barak was elevated to Vice President.

3. When did Backcast Partners move to its new office location?

The relocation to 950 Third Avenue in New York City reflects the company's commitment to accommodating its growth.

4. What is the investment strategy of Backcast Partners?

Backcast Partners manages credit-focused private investment funds, aiming to provide capital to private equity-backed and management-owned companies.

5. How can companies reach out for capital-seeking assistance?

Companies can contact Mark Gudis, Managing Partner, for potential investment discussions.

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