Star Mountain names pensions expert as senior adviser
US alternative asset manager Star Mountain Capital has appointed pensions expert Charles Millard as a senior adviser.
Millard (pictured) has more than 30 years of economic policy, investment advisory and wealth management experience and is a prominent speaker and writer within the pension space.
He was previously a director of the United States Pension Benefit Guaranty Corporation (PBGC) with $100bn (£79bn) in assets, which insures the pensions of over 40 million Americans.
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He was appointed by then-President George W. Bush and was the first director of the PBGC to be confirmed by the United States Senate.
Millard also previously held the role of managing director and head of pension relations at Citigroup.
Prior to that, he worked a vast range of financial services firms including Lehman Brothers, Prudential Securities and Broadway Partners.
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“Diversification is particularly important with the current high valuations across many sectors,” said Millard. “Star Mountain has a compelling business model, purpose-built to execute against the supply and demand imbalances and barriers to entry inherent with lending to and investing in growing US small and medium-sized businesses which are an important part of the economy representing an estimated 44 per cent of US GDP.”
Star Mountain has over $4bn in assets under management, focused on the North American lower middle-market through debt and equity investing, as well as secondaries.
“We’re excited to have his insights and knowledge to help us continue to grow our business and add as much value as possible to all stakeholders,” said Brett Hickey, Star Mountain’s founder and chief executive. “Charles will help us ensure we provide best in class communications and reporting for investors to also help showcase the value to local communities, innovation and job creation as additional benefits to our differentiated returns.”
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