Private equity firm GTCR is creating a portfolio company with David Minella, former CEO of Value Asset Management, that will take equity stakes in alternative and traditional money management firms.
The new company, Aligned Asset Managers, will take 50% to 70% equity stakes in investment management firms, said Michael Hollander, GTCR vice president, who will also be on the Aligned Asset Managers board.
The new firm will be based in Stamford, Conn.
GTCR plans to invest up to $200 million in Aligned Asset; Mr. Minella will be CEO. Although Aligned Asset will take controlling stakes in investment firms, Aligned Asset executives will leave the management team intact, providing distribution for the firms' investment strategies, Mr. Hollander said.
Mr. Minella was CEO at Value Asset from 1997 to 2007; he then became CEO of a special-purpose acquisition company, Prospect Acquisition Corp., which merged into real estate investment manager Kennedy Wilson in 2009. Since then he has been managing member of Minella Capital Management.
Mr. Minella could not be reached by press time for comment.