Alternative asset management firm GrizzlyRock Capital has appointed Chris Ricciardi as managing partner and head of business development and Doug Laux as chief financial officer.
"As we begin our third year of operations, Doug and Chris' expertise in institutional-quality asset management firms and building robust, client focused businesses will be invaluable to our clients," says Kyle Mowery, GrizzlyRock managing partner and portfolio manager. "Since inception, we have been building both a world-class alternative asset management firm and client-focused, differentiated investment products. Today's announcement is another step towards fulfilling our mission."
GrizzlyRock uses rigorous fundamental research and due diligence to invest in mispriced securities. The team invests both long and short in corporate securities in the equity and credit markets which it feels are substantially mispriced. The result is a portfolio composed of high-conviction value- and event-driven equity investments and high-yield credit securities.
"GrizzlyRock believes investment management is, at its core, all about risk management," says Ricciardi. "Doug and I share this investor-centric mindset, and we look forward to continuing GrizzlyRock's commitment to pursuing attractive risk-adjusted returns in high- yield corporate credit and equity securities."
Ricciardi has spent more than eight years working in the alternative investment space, and joins GrizzlyRock after serving as director of strategic relationships for Altegris Investments. During his time at Altegris, he focused on distributing private and public investment solutions to professional investors, wealth managers, banks and financial services platforms. Earlier in his career, Ricciardi co-founded Herron Capital Management, a registered commodity trading advisor and introducing broker.
Laux brings to GrizzlyRock extensive knowledge of private and public companies, balance sheet and operational restructuring, initial public offerings, bankruptcy situations and mergers and acquisitions. He spent 20 years at Ernst & Young in Chicago, where he was a partner for nine years. Laux has also served as chief financial officer of a variety of businesses, including ANC Rental, the holding company for Alamo and National Car Rental.
Ricciardi and Laux will work closely with Mowery, who founded GrizzlyRock in 2012, and Saidal Mohmand, vice president of investment research. Mowery began his career as an analyst at fund of hedge funds PAAMCO, and later made investments in media and telecommunications companies at McDonnell Asset Management, now TH Lee Senior Credit Strategies. Mowery later joined the middle-market leveraged finance team at BMO Capital Markets, where he evaluated and managed funding for private companies across industries such as general industrials, business services, consumer goods and healthcare.