Former NJ chairman Grady joins Gryphon Investors

  • Former Carlyle exec to lead general industries team
  • Gryphon invests in middle market businesses
  • Carlyle co-founder Rubenstein applauds move

“It was a chance to go back to the GP side of the industry, and to go to one of the top firms,” Grady told Buyouts. The chance to work with Gryphon founder David Andrews, a former business school classmate at Stanford University, was also a factor, he said.

San Francisco-based Gryphon invests in middle-market companies in the business services, consumer products, healthcare and general industry sectors. Grady will work on the general industries team alongside Senior Vice President Felix Park.

“I think the middle market is the most exciting part of private equity. It’s where I think you find the best value, and (it’s) the best place to find chances to change companies,” Grady said.

Gryphon fund returns could not be found as of press time.

Prior to Gryphon, Grady was a managing director at private equity fund of funds Cheyenne Capital. He will continue to work with Cheyenne in a senior advisor capacity, he said.

Grady developed a solid track record investing in middle-market and growth-oriented companies as an executive at The Carlyle Group, co-founder David Rubenstein told Buyouts. Rubenstein applauded Grady’s decision to return to general partner investing, saying Grady would fit in well at Gryphon.

“Bob is a guy in the private equity world who is known to know everybody,” Rubenstein said. “I think Bob’s contacts, through New Jersey, Stanford, Carlyle or Cheyenne will probably make him a pretty good asset,” he said. “I have a very high regard for Bob.”

Grady stepped down from the New Jersey State Investment Council in November. He led the council for four years, a period in which the state’s Division of Investment generated an annualized return of 12 percent.