In July 2015, Graham Goldsmith together with Steve Zander and the senior members of the European Special Situations team formed Cross Ocean Partners to focus on special situation credit investments.
Graham Goldsmith and Steve Zander worked together at Bank of America Merrill Lynch for seven years, most recently co-heading the global loans and special situations group.
The genesis of Cross Ocean Partners was the spin-out of the European Special Situations ("ESS") team from their parent fund. Graham Goldsmith, Cross Ocean's CEO, with backing from Stone Point Capital, worked together with the ESS team to conclude the spin-out and formation of Cross Ocean Partners on July 7th, 2015.
The ESS team was originally established in 2012 by Steve Zander and launched three closed-ended funds in 2013, together representing approx. $1.5bn of committed capital, which focused on European special situations with an emphasis on senior secured loans. All thirteen members of the team subsequently transferred across to Cross Ocean upon its formation in July 2015 and it continues to advise the three funds (now in harvest) it launched in 2013.
Stone Point Capital, via its Trident funds, is a minority investor in Cross Ocean Partners which is majority owned by its partners, led by Graham Goldsmith.
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed six private equity funds – the Trident Funds – with aggregate committed capital of approximately $13 billion. Stone Point targets investments in the global financial services industry, including investments in asset management firms, specialty lending and other credit opportunities, banks and depository institutions, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, mortgage services companies, employee benefits and healthcare companies and companies that provide outsourced services to financial institutions. For further information about Stone Point, see www.stonepoint.com.
* Note: As of April 30, 2018. Refers to Gross Asset Value which is "NAV before carried interest" for funds in their harvest periods and "NAV before carried interest plus undrawn investor commitments" for funds within their investment periods.
** Note: Includes aggregate capital commitments of funds and accounts that are past their respective investment periods and sub-advised funds, as well as capital commitments that are no longer available for investment. Includes funds and accounts advised separately by Cross Ocean Management LP (“COPM”) and Cross Ocean Adviser LLP (“COA”), its affiliate. COPM and COA have different regulatory registrations and investment committees.