Backcast Partners Expands Team with Promotions and New Office Space

Backcast Partners Expands Team with Promotions and New Office Location

Backcast Partners, a prominent provider of debt and equity capital tailored for middle-market enterprises, has revealed a series of leadership promotions alongside a strategic relocation of its New York City headquarters. This move is set against the backdrop of its continuous growth trajectory. The firm will now operate from 950 Third Avenue, a site chosen to accommodate its expanding operations.

The promotions include Neil Chirite and Ryan Stuckert, both elevated to the position of Managing Directors, while Ronen Barak steps up as Vice President. This restructuring aims to enhance Backcast's ability to manage its growing portfolio and foster deeper client relationships in the financial sector.

Leadership Insights

Neil Chirite has been an integral part of Backcast since joining in 2018 from Citibank, where he honed his skills in investment execution and portfolio management. His leadership has been pivotal in several key projects, including insurance-focused rated note vehicles. His deep involvement in investments such as The Alaska Club and USG Water Services highlights his commitment to fostering growth within the firm.

Ryan Stuckert, who joined the team in 2023, brings over a decade of experience from his previous role at Siguler Guff. With a notable focus on credit investments, his expertise spans public and private corporate credit, equity, and structured finance. At Backcast, he will continue to drive the sourcing and due diligence processes and play a major role in managing co-investment programs.

Ronen Barak, similarly new to Backcast, comes from the Oak View Group where he specialized in the sports and entertainment investment landscape. His background includes significant experience at UBS in leveraged finance, positioning him well to evaluate and originate new investment opportunities for the firm.

About the Expansion

Backcast Partners, established in 2016, has a strong foundation managing strategic, credit-focused private investment funds that cater to both private equity-backed and independently held management companies. The firm boasts approximately $1.3 billion in assets under management, successfully backing middle-market companies with annual earnings before interest, taxes, depreciation, and amortization (EBITDA) ranging from $7.5 million to $50 million. By providing flexible capital between $20 million and $150 million, Backcast aims to meet the dynamic needs of its clients and foster substantial growth in their respective industries.

The move to a larger office reflects Backcast's ambition to expand its reach and capabilities within the financial services space. According to Mark Gudis, Managing Partner, this change is crucial for accommodating the firm's expanding team and their increasing client base. As Backcast continues to solidify its position as a leader in private equity investments, these strategic moves underline its commitment to providing top-tier financial solutions and fostering talent within the industry.

This expansion and the recent promotions are seen as essential steps in maintaining a competitive edge in the evolving market landscape, signaling Backcast's promise for future growth and enhanced investment opportunities.

For more information regarding investment opportunities or partnerships, interested parties can reach out to Mark Gudis at 950 Third Avenue, 20th Floor, New York, NY 10022. Further details are accessible via their official website or through direct contact at (973) 512-7487.