Ontario Teachers’-backed York Street team joins Star Mountain Capital

The York Street team specializes in providing mezzanine, unitranche and equity co-investment financing to middle-market companies, which would bolster Star Mountain’s capabilities as a direct investor. Star Mountain also invests small and middle market private equity and private debt funds, as well as SBIC vehicles. 

Star Mountain’s investors vouched for Golding and Layden, Star Mountain Chairman Brett Hickey said. “Some of our investors are private equity fund managers themselves, and they had done deals where York Street had done the mezzanine,” Hickey said, adding that Golding and Layden were a good cultural fit for Star Mountain.

The York Street team benefitted from being backed by one of the private equity’s most significant limited partners, Ontario Teachers’ Pension Plan. York Street managed roughly $950 million of commitments on behalf of an Ontario Teachers’ subsidiary, its only limited partner, according to the firm’s website and press releases.

The York Street team will continue to manage its existing portfolio. Deborah Allen, a spokeswoman for Ontario Teachers’, did not respond to a request for comment.

The portfolio includes several investments in Fenway Partners portfolio companies, including Easton-Bell Sports, computer carrying case company Targus Group International and Panther Expedited Services, a trucking company, according to the firms’ websites.

York Street also invested in deals alongside DLJ Merchant Banking Partners, Leonard Green & Partners and Sterling Investment Partners, among others, according to its website.

The York Street team will continue to work out of its offices in New Jersey and Florida, Hickey said. Before launching York Street in 2002, Golding and Layden were directors at CIT Group.

Golding and Layden could not be reached for comment.