Midmarket Firm Backcast Launches

Midmarket Firm Backcast Launches

December 6, 2016

Executives experienced in middle-market direct investing formed Backcast Partners Management.

The new firm is focused on providing direct investment debt and equity capital in support of North American businesses with annual earnings before interest, taxes, depreciation and amortization of $10 million to $50 million.

Backcast, with offices in New York, Millburn, N.J., and Los Angeles, was founded by midmarket executives Edward Cerny and David Petrucco, who in 2008 founded Kayne Anderson Capital Advisors’ middle-market credit platform.

The two are joined by Mark Gudis, who will oversee transaction sourcing for Backcast. The three executives previously were managing directors in Blackstone Group LP’s corporate debt group.

(From WSJ Pro)

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