Gordian Group has launched Gordian Equity Management Services LLC, which will provide asset management services to private equity firms. Paul Laud, a founder and former president of CIT Equity Investments, will run GEMS.
Gordian Group, an investment banking firm specializing in complex, “story” and distressed situation advisory assignments is excited to announce the formation of Gordian Equity Management Services, LLC (“GEMS”) and that Paul Laud will build and run the new initiative.
GEMS will provide asset management services to private equity firms on a contract basis with a special focus on turnkey solutions for revitalizing and monetizing underperforming, “exit-resistant” private equity assets. “In essence, Paul and his team provide ‘Rent a GP’ services, and we are already seeing a real appetite for this from fund managers,” observes Peter Kaufman, Gordian’s President and Head of Restructuring and Distressed M&A.
Outsourcing this function can be a powerful tool for fund managers looking to accelerate and maximize returns, manage cost, leverage time and managerial resources and add flexibility to portfolio coverage. GEMS will take the necessary actions to restore viability, position the company for sale, manage the entire exit process and deliver returns to investors.
GEMS’ founding principal Paul Laud has a 25-year history in private equity and has worked with a large number of private equity clients, guiding portfolio companies experiencing distress through recovery and exit. He recently completed a multi-year engagement to oversee and monetize a portfolio of distressed control, non-control and residual private equity assets for a major fund. Earlier, Paul was founder and president of CIT Equity Investments.
Laud notes “Gordian already has tremendous reach into the private equity community through its investment banking focus on equity recoveries in tough situations, and I am excited about expanding Gordian’s suite of services for fund managers.”
Henry Owsley, CEO of Gordian Group explains “the direct and indirect financial impact of monetizing underperforming, ‘orphan’ assets for maximum value can be substantial, and GPs can profit from outsourcing this function.”