NEW YORK--(BUSINESS WIRE)--Macquarie Capital today announced that it has enhanced its secondary market offering for financial sponsors, naming Steven Westerback as Managing Director, Head of Financial Sponsors Secondary Advisory. In this newly created role, Mr. Westerback will focus on providing private capital investment firms with secondary market solutions for their portfolio assets and investors.
Mr. Westerback brings extensive experience originating, structuring and capital-raising for continuation funds and secondary market solutions. Prior to joining Macquarie Capital, he was a Partner and led the secondaries business at Atlantic-Pacific Capital, an independent advisory firm and placement agent. Previously Mr. Westerback spent a decade as a senior member of the UBS Private Funds Group and earlier in his career was a member of the investment team at a leading dedicated secondary investment fund.
“Secondary transaction volume has been growing steadily for the last decade as general partners increasingly seek ways to retain quality assets for longer, while at the same time generating liquidity for their investors,” said Tom Amster, Global Head of Financial Sponsors at Macquarie Capital. “Steve brings the experience and technical knowledge to originate, structure and execute on continuation vehicles and other secondary solutions for our financial sponsor clients. We are delighted to welcome him to the team.”
Macquarie Capital supports its financial sponsor clients with a range of solutions globally. The enhanced secondary market specialization complements Macquarie Capital’s M&A, debt and equity capital markets capabilities, principal investing activities in private credit and equity, and fund finance and hedging solutions offered through Macquarie Group more broadly.
Mr. Westerback commented: “Macquarie Capital has deep relationships with private equity sponsors coupled with strong product expertise globally. I am excited to leverage these synergies to further build on and extend Macquarie Capital’s full-service offering. The new secondary market capability positions Macquarie Capital to further offer sponsor clients valuable strategic alternatives at various stages throughout the duration of their portfolio investments.”
About Macquarie Capital
Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. It encompasses corporate advisory, a full spectrum of capital solutions, including capital raising services from equity, debt and private capital markets and principal investments from Macquarie’s balance sheet. Macquarie Capital has deep sector expertise in the aerospace, defense and government services, consumer, gaming and leisure, critical minerals, energy, financial institutions, healthcare, industrials, infrastructure, real estate, services, software, technology, telecommunications and media sectors. Visit Macquarie Capital’s website for more information.
