Andrew J. Grauer—Managing Partner
Andrew Grauer is the founder and managing partner of The
Blackethouse Group and is responsible for identifying a
purchasable business, negotiating and structuring the
transaction and assuming day-to-day operational control of
the company once acquired. Mr. Grauer has eight years of
experience providing valuation services, market assessments
and M&A advisory to privately-sourced clients in the lower
middle market. Prior to this, Mr. Grauer worked in the
Global Commercial Strategy division of GlaxoSmithKline.
Prior to GlaxoSmithKline, Mr. Grauer led private sector
development projects in the countries of the former Soviet
Union for the U.S. government and other organizations. Over
the course of his work abroad, he assisted dozens of
entrepreneurial and newly-privatized businesses in
developing strategic plans and optimizing their operations
in what remains a difficult business environment. Earlier
in his career, he was an area sales manager and an
operations manager in the retail sector, and held management
responsibility for over 80 employees.
Mr. Grauer holds
a BA in history from The American University, an MA in
international affairs with a major in international
economics from The George Washington University and an MBA
from Kenan-Flagler Business School at UNC-Chapel Hill. He is
proficient in Russian, a marathon runner, a licensed private
airplane pilot and an award-winning Scottish highland
Craig Burr—Limited Partner
Craig Burr has devoted his career almost exclusively to venture capital and private equity activities, and he has backed numerous leading growth companies in a variety of different industries. Mr. Burr co-founded Burr, Egan, Deleage & Co., a private investment firm with over $400 million under management. Previously, Mr. Burr was a partner at TA Associates. He has been a member of the Board of Directors of the New England Venture Capital Association and serves on the Boards of Directors of several private companies.
Mr. Burr received his BA, cum laude, from Harvard College and his MBA from Harvard Business School.
W. Robert Dahl—Limited Partner
Bob Dahl spent 7 years in The Carlyle Group as a managing director with responsibility for overseeing Carlyle’s investments in the healthcare business sector. During his tenure at Carlyle, he was involved in twelve healthcare investments representing approximately $1.1 billion in invested equity. He served on the investment committee of Carlyle's US buyout funds, including the $7.9 billion CPIV and the $3.9 billion CPIII. He also served on the investment committee of the $430 million Carlyle Mezzanine Partners.
Prior to joining Carlyle, Mr. Dahl spent 13 years at Credit Suisse First Boston, most recently as managing director and co-head of their U.S. Healthcare Group. At the time, the healthcare group included 35 professionals and had revenues in excess of $100 million. Mr. Dahl has extensive experience in acquiring and recapitalizing leveraged companies, having also worked in Credit Suisse First Boston’s Leveraged Finance Group. Prior to business school, he was a CPA with Price Waterhouse.
Mr. Dahl received his BA from Middlebury College and an MBA from Harvard Business School where he was a Baker Scholar and a Loeb Rhodes Fellow.
Dave Dodson—Limited Partner
Dave Dodson is currently a managing director of Headwaters MB, one of the largest independent middle market investment banks in the United States. He has been the CEO or chairman of six middle market companies and has acquired and/or sold 55 companies in that role. Mr. Dodson has also led multiple capital raises as CEO or chairman with a range of private equity firms, including TA Associates, Bain Capital, Housatonic Partners, the Centennial Funds, Alta Communications Partners and others.
Prior to his entrepreneurial and private equity career, Mr.
Dodson worked for McKinsey & Company.
Mr. Dodson currently serves as chairman of Wind River Management, Inc. and previously served as chairman of Worldbridge Broadband Services, Inc. as well as chairman & CEO of ADAP, Inc. and Smith Alarm, Inc. Mr. Dodson has served on the boards of 16 middle market companies in which he was also a private investor. In that capacity, Mr. Dodson has assisted numerous debt and equity raises as well as ten significant M&A transactions. Mr. Dodson holds a BA in economics from Stanford University and an MBA from Stanford University’s Graduate School of Business.
William F. Duhamel—Limited Partner
Bill Duhamel is a managing member of Farallon Capital Management, a registered investment company that manages equity capital for college endowments, foundations and high net worth individuals. Before joining Farallon, Mr. Duhamel worked as the executive director of Telecab, the third largest Mexican cable television company. Prior to his tenure at Telecab, Mr. Duhamel owned and operated his own cable television company in the U.S. Previously, he worked at Bain & Company.
Mr. Duhamel graduated with honors and distinction
and Phi Beta Kappa with his BA in economics and operations
research from Stanford University, and received an MBA from Stanford’s Graduate School of Business where he was an Arjay Miller Scholar.
William Egan—Limited Partner
Bill Egan is a founder and general partner of Alta Communications, a private investment firm with over $1 billion under management. Mr. Egan co-founded Alta's predecessor firm, Burr, Egan, Deleage & Co., in 1979 and has identified and backed several of America's leading growth companies in the information technology, life sciences, and communications industries. Prior to founding Burr, Egan, Deleage & Co., Mr. Egan was a partner at TA Associates. Mr. Egan began his career as a manager of venture capital for New England Enterprise Capital Corporation.
Mr. Egan is past president and chairman of the National Venture Capital Association, a trustee of Fairfield University, a trustee of the University of Pennsylvania, and a Graduate Board member of The Wharton School. He is also a member of the Board of Directors of New Times Holdings, LLC, AAA Entertainment, LLC, dsd Communications, and Cephalon, Inc. Mr. Egan received his BA in economics from Fairfield University and an MBA from the University of Pennsylvania's Wharton School of Finance.
Peter T. Francis—Limited Partner
Peter Francis is board chair, president and CEO of J. M. Huber Corporation, a diversified, multinational supplier of engineered materials, natural resources, and technology-based services. Mr. Francis joined the company in 1992 as vice chairman. In 1993, he became board chair of Huber and president of its largest division, AVEX Electronics, which he led in a major turnaround to profitability. He became CEO and president of the parent corporation in 1994, which he has since grown to over $2.5 billion in revenues. In 2004, the company completed the largest acquisition in its history when it acquired CP Kelco, a global leader in the hydrocolloids industry.
Before joining Huber, Mr. Francis was CEO of a leveraged buyout in the wood products industry. He also designed and managed the development of a high-technology oceanographic instrument for the oil and gas industry. He and his wife circumnavigated the world by sailboat, visiting 38 countries, covering 55,000 miles, and spending 558 days at sea.
Mr. Francis served on the Board of Overseers of the New Jersey Institute of Technology for five years, where he chaired its strategic planning committee. He is a trustee of the Rumson Country Day School and chair of its long-range planning committee. Mr. Francis graduated cum laude and Phi Beta Kappa with his BA from Middlebury College and received an MBA from the Stanford Graduate School of Business where he was an Arjay Miller Scholar.
Dr. Mustafa Gultekin—Limited Partner
Mustafa Gultekin currently serves as associate professor of finance at UNC Kenan-Flagler Business School. He teaches investments, portfolio management and financial modeling in the MBA program, and his current research involves financial markets, international finance, risk management and valuation. He has served as a consultant to major corporations in the United States and abroad, including Atlantic Bell, Westinghouse, U.S. Agency for International Development, Kansallis Foundation for Financial Research and Salomon Brothers, now Smith Barney.
Dr. Gultekin is the former president of the European Financial Management Association and the former dean of the College of Administrative Sciences and Economics at Koc University in Istanbul. He also served as associate director of the Management Decision Laboratory at New York University and as a research scientist at Bogazici University in Turkey. Dr. Gultekin received his BS in physics from Middle East Technical University, his MA in operations management from Bogazici University and a PhD from New York University.
Trygve Mikkelsen—Limited Partner
Trygve Mikkelsen is the founder and general partner of T+T Holdings, LLC, a private investment company focused on private equity and a variety of long-short multi-strategy equity funds and single thesis hedge fund investments. Prior to starting T+T Holdings, Mr. Mikkelsen was a managing director with Citigroup (2004-2007), Deutsche Bank (1999-2002), and Credit Suisse First Boston (1987-1999). His specialty as an investment banker was M&A advisory, with a focus on health care. Mr. Mikkelsen has completed transactions with an aggregate value over $50 billion, representing a diverse group of companies in the health care, consumer products and industrials sectors. In addition to his advisory responsibilities, Mr. Mikkelsen held several management positions including head of US Healthcare at Credit Suisse First Boston, where he was appointed to the Investment Banking Management Committee. Prior to investment banking, Mr. Mikkelsen worked for McKinsey & Company in Scandinavia.
Mr. Mikkelsen was born and raised in Norway and was a cross country skier on the Norwegian National Ski Team. Mr. Mikkelsen graduated cum laude with a BS from the University of Utah, where he was an All-American skier, and received an MBA with Honors from Columbia University.
Michael F. O’Connell—Limited Partner
Michael O’Connell is currently the managing director of M2O Investments, a family investment fund. He was formerly the managing director and president of Anhalt, O’Connell & Steffanci, Inc., an investment management firm specializing in debt securities with $1 billion under management. Prior to his time in investment management,
Mr. O'Connell owned and operated the National Lines Bureau, the ship mooring company for the Los Angeles and Long Beach Harbors. He is currently an investor in over 20 private companies.
Mr. O’Connell received a BA, with high honors, from Harvard College and an MBA from Harvard Business School.
Dr. Michael J. Roberts—Limited Partner
Mike Roberts is a senior lecturer and the executive director of the Arthur Rock Center for Entrepreneurship at Harvard Business School. He was formerly an assistant professor at the school in the General Management area and taught the second-year elective courses "Entrepreneurial Management" and "Managing the Growing Enterprise." Dr. Roberts is the author of over 100 case studies on starting and managing entrepreneurial companies. He co-authored New Business Ventures and the Entrepreneur
with Howard H. Stevenson and H. Irving Grousbeck, a text book that is used at over 100 graduate business schools. Dr. Roberts is also the author of numerous papers and articles on the challenges of managing the transition from entrepreneurial to professional management.
Prior to and during business school, Dr. Roberts worked for McKinsey & Company and Morgan Stanley, respectively. From 1989 to 1991, he served as director of international business development for Cellular Communications, Inc. where he led a successful effort to acquire the second cellular license in Italy. He has also served as CFO of a start-up chain of quick service Italian restaurants, and as vice president of business development for a company in the health care services field. He has served as a consultant to numerous start up companies as well as AT&T, Chrysler and Ameritech.
Dr. Roberts received his BA in economics, cum laude, from Harvard College, his MBA with high distinction and his DBA as a dean's fellow from Harvard Business School.
Rafael Somoza—Limited Partner
Rafael Somoza most recently was the co-founder and CEO of VIU Media, Puerto Rico's largest locally-owned outdoor advertising company, which was sold to Lamar Advertising. Prior to becoming CEO of VIU Media, he was the co-founder and CEO of Quest Management Corporation, a private equity group formed to identify, acquire, and operate a company in Puerto Rico. Previously, Mr. Somoza worked at Credit Suisse First Boston, where he was involved in structuring over $1.2 billion in financings, and at Chase Manhattan Bank.
Mr. Somoza received the 2004 Ernst
& Young Entrepreneur of the Year Award for Puerto Rico and currently sits on the board of the Puerto Rico Convention Bureau and EM Assist, LLC. Mr. Somoza graduated magna cum laude with a BA in economics and political science from Yale University and holds an MBA from Stanford's Graduate School of Business.
James L. Southern, III—Limited Partner
Jim Southern is the managing member of JS Capital Partners, an acquisition company focused on service businesses in high growth industries. He served as chairman and CEO of Continental Fire & Safety Services, a privately held service company serving the fire suppression industry. Previously, Mr. Southern was the chairman and CEO of Uniform Printing, a highly successful niche printing business serving the insurance industry, which he purchased in a leveraged buyout. Mr. Southern earned his investors a 59% IRR over the course of the ten years he managed the company. He also has experience in the insurance and oil and gas industries.
Mr. Southern currently serves on the boards of Bay Communications, Inc., as well as various non-profit organizations. Mr. Southern received his BA from Southwestern University and his MBA from Harvard Business School.
Jose Stella—Limited Partner
Jose Stella most recently was the co-founder and president of VIU Media, Puerto Rico’s largest locally-owned outdoor advertising company, which was sold to Lamar Advertising. Prior to becoming president of VIU Media, he was the co-founder and president of Quest Management Corporation, a private equity group formed to identify, acquire, and operate a company in Puerto Rico. Previously, Mr. Stella worked at KPMG Peat Marwick in the middle-market Mergers & Acquisitions Advisory Group. He also worked for UBS and Chase Manhattan Bank.
Mr. Stella received the 2004 Ernst & Young Entrepreneur of the Year Award for Puerto Rico and currently serves as a director of Rocket Learning, LLC and Centros Sor Isolina Ferre, the largest Puerto Rico based not-for-profit organization. Mr. Stella graduated with high honors with a BA in economics, finance and investments from Babson College and graduated cum laude with an MBA from The University of Michigan.
Dr. Howard H. Stevenson—Limited Partner
Howard Stevenson currently serves as senior associate dean of Harvard Business School. He is also the director of publication activities, chair of the Harvard Business School Publishing Company board, and the Sarofim-Rock Professor of Business Administration, Emeritus. The Sarofim-Rock Chair was established in 1982 to provide a continuing base for research and teaching in the field of entrepreneurship. Professor Stevenson is its first incumbent. He has authored, edited, or co-authored eight books, 42 articles and over 150 cases at Harvard Business School. He served as the vice provost for Harvard University Resources and Planning after service as senior associate provost of Harvard University from 2005 to 2007 and as senior associate dean and director of external relations at Harvard Business School from 2001 to 2005.
Dr. Stevenson was a founder and first president of the Baupost Group, Inc., an investment firm he grew to $400 million in assets. He is now co-chairman of the Advisory Board of Baupost LLC, which has $5.4 billion under management. From 1978 to 1982, Dr. Stevenson was vice president of finance and administration and a director of Preco Corporation, a large privately-held manufacturing company. In addition, in 1970-71, he served as vice president of Simmons Associates, a small investment banking firm specializing in venture financing.
Dr. Stevenson is currently a director of Camp Dresser & McKee Inc., Landmark Communications, Inc. and a trustee for several private trusts and foundations. He is a life trustee of the Boston Ballet and has been a director of Sudbury Valley Trustees where he served as president from 1996 to 2000. He is vice chairman-elect of the Board of Directors of National Public Radio and a trustee of Mount Auburn Hospital. He is a member of the Advisory Board of the J.J. Strossmayer University in Osijek, Croatia. Dr. Stevenson received his BS in mathematics, with distinction, from Stanford and his MBA with high distinction and DBA degrees from Harvard University.