ALISO VIEJO, Calif.--(BUSINESS WIRE)--Preston Capital LLC (“Preston” or the “Firm”), an Aliso Viejo-based longevity asset manager announced today two key hires as the Firm launches a new commingled investment vehicle. Joining Preston are David Posnick, former Senior Managing Director at Blackstone, Inc. (BX) and Anne Buchanan, former Head of Distribution for Obra Capital (formerly known as Vida Capital).
Mr. Posnick has joined the Firm as Executive Chairman and brings over 35 years of experience in financial services and asset management, most recently serving as the Senior Managing Director and Co-Head of Distressed Investing at Blackstone. Mr. Posnick had been with Blackstone Credit (previously known as GSO Capital Partners) since 2007. He sat on the investment committees for Blackstone Credit’s alternative funds and was a Portfolio Manager for each of Blackstone Credit's distressed/opportunistic credit funds. Prior to joining Blackstone Credit, Mr. Posnick was a Managing Director and Vice Chairman of the Corporate and Investment Banking Division of Credit Suisse, and prior to that was a Managing Director in the Investment Banking Division of DLJ.
Preston's CEO and CIO Jon Nelson expressed enthusiasm about Mr. Posnick’s addition to the Firm’s leadership team, highlighting his extensive expertise in investment diligence, deal structuring, and business development. “David has a wealth of knowledge that spans across multiple decades and investment cycles. He has seen it all. And with over 20 years of life settlement experience, he will be an invaluable asset to our Firm as we aim to expand our investor base with Preston's upcoming fund offering.”
“Jon and Jonathan have meticulously cultivated an exceptional business over the last decade, one that holds a unique position within its asset class,” Mr. Posnick said. “I am excited about the opportunity to join this remarkable team and organization, and I eagerly anticipate playing a role in the continued growth of Preston Capital.”
Ms. Buchanan has joined Preston as Managing Director where she will lead all capital formation and investor relations efforts. Ms. Buchanan brings over 15 years of capital raising experience, most recently serving as Partner and Head of Investor Relations at Stronghold Investment Management, where she led all investor relations and fundraising efforts. Preceding Stronghold, Ms. Buchanan was Senior Managing Director and Head of Investor Relations at Obra Capital (formally known as Vida Capital), a vertically integrated asset manager focused on longevity contingent assets. Over her 6+ year tenure, Ms. Buchanan brought in billions of dollars across multiple investment vehicles and diversified the firm’s investor base with numerous global institutional investors and large family offices.
“Having Anne join Preston was one of the easiest decisions we’ve ever made,” remarked Jonathan Hogan, Preston’s President and CFO. “She has a deep understanding of the institutional investor community and has successfully raised capital wherever she’s been. But moreover, through her time at Obra, Anne brings tremendous knowledge of the life settlement asset class which will be vital as we look to raise our new fund.”
“I’m thrilled to become part of such a well-respected and renowned industry leader like Preston Capital,” expressed Ms. Buchanan. “The founders have laid a remarkable groundwork, and I have strong confidence that our team will establish enduring partnerships with some of the world’s foremost institutional investors.”
About Preston
With over $3.8 billion in assets, Preston Capital LLC (together with its affiliates and management company, “Preston” or the “Firm”) is the exclusive asset manager of life settlements for some of the most sophisticated institutional investors in the world. Leveraging its institutional platform and the collective depth and breadth of the team’s industry expertise, Preston seeks to deliver exceptional, non-correlated returns through a dedicated focus on longevity-contingent investment strategies.
For more information about Preston, please visit www.prestoncap.com.
