Key Takeaways
- • Cantilever Group, an independent middle-market GP stakes firm, announced a minority equity investment in Ghost Tree Partners, an Irvine, California-based private credit firm.
- • Ghost Tree provides senior secured, collateral-focused financing to lower middle-market companies and was founded in 2021 by Mark Fox, Scott Warner, CFA, and Jeff Willardson, CFA.
- • The firm's flagship vehicle, GT Partners - Lone Cypress Fund, is a private evergreen structure fund.
- • Cantilever focuses on asset managers with $500 million to $5 billion in AUM, and says its capital can support growth, ownership transitions, and GP commitments.
- • The announcement did not disclose the size of the investment.
Summary
Cantilever Group ("Cantilever"), an independent investment firm specializing in middle-market GP stakes, has announced a minority equity investment in Ghost Tree Partners ("Ghost Tree"), according to a Business Wire release. Ghost Tree is a private credit investment firm that provides senior secured, collateral-focused financing to lower middle-market companies, with a strong focus on downside protection.
Ghost Tree was founded in 2021 by Mark Fox, Scott Warner, CFA, and Jeff Willardson, CFA, who worked together for more than 20 years, most recently at PAAMCO Prisma. The Irvine, California-based firm's flagship investment vehicle, GT Partners - Lone Cypress Fund, is a private evergreen structure fund. The release did not disclose the size of Cantilever's stake.
Scott Warner, Co-Founder of Ghost Tree Partners, said the partnership is about finding an investor that shares the firm's long-term view of private credit. He cited Cantilever's experience working with independent asset managers and its patient, minority-oriented approach as reasons it is an ideal partner as Ghost Tree continues to invest in its team and scale its business.
David Ballard, Co-Founder and Managing Partner at Cantilever Group, cited Ghost Tree's disciplined, collateral-focused approach and its relationships with lending partners and investors as grounds for confidence in supporting the firm's continued growth.
Cantilever describes itself as an independent firm providing GP stakes capital to alternative asset managers with $500 million to $5 billion in AUM. Its capital can be used to accelerate growth, facilitate generational ownership transfer, support acquisitions or lift-outs, fund GP commitments, seed new strategies, and provide founder liquidity. Sidley Austin LLP advised Cantilever, while Berkshire Global Advisors served as exclusive financial advisor to Ghost Tree and Shartsis Friese LLP served as its legal advisor.
Ghost Tree was founded in 2021 by Mark Fox, Scott Warner, CFA, and Jeff Willardson, CFA, who worked together for more than 20 years, most recently at PAAMCO Prisma. The Irvine, California-based firm's flagship investment vehicle, GT Partners - Lone Cypress Fund, is a private evergreen structure fund. The release did not disclose the size of Cantilever's stake.
Scott Warner, Co-Founder of Ghost Tree Partners, said the partnership is about finding an investor that shares the firm's long-term view of private credit. He cited Cantilever's experience working with independent asset managers and its patient, minority-oriented approach as reasons it is an ideal partner as Ghost Tree continues to invest in its team and scale its business.
David Ballard, Co-Founder and Managing Partner at Cantilever Group, cited Ghost Tree's disciplined, collateral-focused approach and its relationships with lending partners and investors as grounds for confidence in supporting the firm's continued growth.
Cantilever describes itself as an independent firm providing GP stakes capital to alternative asset managers with $500 million to $5 billion in AUM. Its capital can be used to accelerate growth, facilitate generational ownership transfer, support acquisitions or lift-outs, fund GP commitments, seed new strategies, and provide founder liquidity. Sidley Austin LLP advised Cantilever, while Berkshire Global Advisors served as exclusive financial advisor to Ghost Tree and Shartsis Friese LLP served as its legal advisor.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.