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portfolio which consists of fairly illiquid assets — shares of APO, art and real estate.
We believe he has close to a $1bn art loan at BAML. In 2015, he had a $500mm loan and we tried to
structure a separate loan for him. BAML increased his line to keep the entire position in house.
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In 2017, JPM offered Leon a $300mm unsecured loan. We were offered a chance to compete but offered a
$200mm mortgage. Leon preferred not to pay the mortgage recording tax. BAML ended up getting the
business done unsecured with a negative pledge over the properties (and APO shares, presumably).
We have recently been given an opportunity to expand our relationship and are currently evaluating a small
line of credit to an insurance company that Leon bought last year.
We don't see much investment opportunity since Leon doesn't plan to trade public equities in any real size.
So far, his family office is really becoming a mini version of Apollo.
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2018 Account Planning
RM contribution
Relationship Name: Madison Park Capital LLC/General Atlantic
Banker Team: Stewart Oldfield
GCIS Number:
Relationship Team:
ISG: Andrew King
DPM: Paul Bartilucci
KCP: Tazia Smith
Lending: Laura Farischon
Client Profile
Trust/Custody:
WPS: Sam Petrucci
Deposits: Charlie Burrows
Other:
General Atlantic (also known as "GA") is an American worldwide growth equity firm providing capital and
strategic support for growth companies. GA is based in New York, New York.I1] The firm was founded in
1980 as the captive investment team for Atlantic Philanthropies, a philanthropic organization founded by
Charles F. Feeney, the billionaire co-founder of Duty Free Shoppers Ltd.(2)
As of June 30, 2016, General Atlantic has approximately $19.6 billion in assets under management and more
than 100 investment professionals based in New York City, Greenwich, Palo Alto, Sao Paulo, London,
Munich, Amsterdam, Beijing, Hong Kong, Mumbai and Singapore.(31 According to Private Equity
International, a proprietary ranking of the largest 300 private equity firms in the world, General Atlantic is
the 6th largest. In the last five years, as of 2014, GA rose from no. 12 to no. 6
Madison Park Capital, LLC is the entity that manages partner capital internally and functions as a family
office for the 30+ partners of GA. The General Partners, Managers, Trustees, and Directors are:
•
William E. Ford — CEO of GA
•
Steven A. Denning — Chairman of GA
•
David C. Hodgson — Vice Chairman
•
Eugene P. Lynch
•
Richard B. Gold
This entity has a brokerage account with DB with a Market Value of —$3mm, consisting primarily of CLO
equity sold through KCP. This relationship has been with DB since June 2014 and is currently KCP adopted.
Gene Lynch is our contact person.
Opportunities and Challenges
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We have substantial opportunity to pursue with this account. The partners control a lot of capital and are
financially sophisticated. They are willing to look at any interesting transaction. While this is an
opportunity, it is also a challenge since there is no specific focus. We have traded CLO equity with them, and
discussed everything from risk premia to real estate to private markets.
More challenging is the fact that they have relationships with the entire street and each partner also has
money managed away from the internal family office. Because they are a large private equity firm, they
have access to a lot of direct deal flow. We need to find a way to be more relevant to them.
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2018 Account Planning
RM contribution
Relationship Name: Jockey Club
Banker Team: Stewart Oldfield
GCIS Number:
Relationship Team:
ISG: Brian Harrington/Frank DeBenedittis
Trust/Custody:
DPM: Paul Bartilucci
WPS:
KCP: Matt Glassman
Deposits: Charlie Burrows
Lending: Laura Farischon
Other:
Client Profile
The Jockey Club is the breed registry for Thoroughbred horses in the United States, Canada and Puerto Rico.