Business
B. Riley Financial Names Martin Bernstein Head of Private Investments
LOS ANGELES, March 4, 2021 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley"), a leading provider of business advisory and financial
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[{"type":"text","content":"LOS ANGELES, March 4, 2021 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\"), a leading provider of business advisory and financial services, today announced that Martin Bernstein has joined B. Riley Principal Investments as Head of Private Investments. In this newly created role, Bernstein is responsible for sourcing, underwriting, and managing investments with private companies in addition to leading distribution to the firm's syndication partners.\n\n \n \n \n \n \n \n\n \n\"We are pleased to welcome Marty to B. Riley,\" said Dan Shribman, Chief Investment Officer of B. Riley Financial. \"As a firm, B. Riley employs an active investment strategy of providing debt and equity financing to client-partners. Our investment portfolio has primarily focused on public companies over the last several years and expanding our mandate to private companies is an exciting opportunity to enhance value for our partners and shareholders.\"\nAs Head of Private Investments, Bernstein will work alongside Shribman as part of the B. Riley Principal Investments team which leverages the firm's capital base to create proprietary opportunities that benefit its partners and shareholders. Current investments span public and private debt and equities with a focus on traditional merchant banking and active sponsorship of public companies. The firm has since expanded its exposure to private company investments through its venture capital business which was formed in late 2020. B. Riley Financial's cash and investments totaled approximately $1.3 billion at December 31, 2020.\nBernstein joins B. Riley from Anchorage Capital Group and brings deep experience in originating, underwriting, and investing in public and private equities, performing credit, bank debt, distressed debt, and restructuring situations across transportation, automotive, aerospace, manufacturing, power, infrastructure, and other sectors. Bernstein has worked in close collaboration with management teams and corporate boards to maximize shareholder value through capital allocation strategies, governance, financing, and operational turnarounds. He previously worked as an analyst at San Francisco-based investment firm, Bocage Capital, and was on the investment team for the endowment at Howard Hughes Medical Institute. He received an AB in History from Dartmouth College. Ber...