NORTHBROOK, Ill., Jan. 12, 2017 /PRNewswire/ -- In 2016, Allstate
accelerated its ability to source and manage "opportunistic"
investments by hiring an experienced team of six investment
professionals to focus on providing nontraditional capital and
liquidity solutions across asset classes, industries and
geographies.
"We're thrilled with the flexible and sophisticated approach of
this talented and experienced team led by Mick Solimene, who has more than 30 years of
experience in special situations investing," said Russ Mayerfeld, senior managing director and
head of alternative and private investments. "They are part of
Allstate's ongoing initiative to increase the returns and scope of
the alternative investment portfolio, which presently includes
private equity, real estate, infrastructure and agribusiness."
"Allstate's opportunistic strategy seeks to capitalize on
pockets of inefficiency that occur due to misunderstood or complex
facts, volatile capital market conditions, changing regulatory
frameworks, rapid change or other factors," Solimene said. "I look
forward to extending Allstate's relationship-based approach and
leveraging its broad investment experience into this segment of the
market."
Allstate's Opportunistic Investments Team
The
members of the team have diverse professional backgrounds,
including alternative investing, investment banking, restructuring
and management consulting.
- Mick Solimene, managing
director. Solimene most recently served as senior managing
director and head of the restructuring and special situations group
at Macquarie Capital, where he oversaw the Chicago office and led a business that
provided capital and transaction solutions to companies with
complex balance sheet needs. Before joining Macquarie Capital in
2007, Solimene was a managing director at Giuliani Capital
Advisors, where he ran the restructuring group and was a member of
the board of directors and commitments committee. His career also
includes leadership positions at Ernst & Young Corporate
Finance and Bank of America.
- Phil Van Winkle, managing
principal. Van Winkle most
recently served as a managing director at AEG Partners and AEG
Capital, where he provided investment banking services to companies
undergoing balance sheet restructurings and recapitalizations. He
has more than 30 years of professional experience as a principal
investor, investment banker, restructuring/turnaround advisor and
management consultant. His career includes roles at Harmony Holding
Partners, Macquarie Capital, Bank of America and McKinsey &
Company.
- Chris Brown, managing
principal. Brown has 25 years of professional experience,
including structuring, trading and managing investments in credit
opportunities funds, as well as providing restructuring advisory
services. His career includes roles at SOLIC Capital Management,
Ritchie Capital Management, PPM America and Bank of America.
- Ashok Vishnubhakta, principal. Vishnubhakta has
more than 12 years of professional experience focused on
fundamental analysis, deal structuring and negotiation across
opportunistic and special situations investing, as well as
restructuring advisory services. His career includes roles at GE
Capital and Macquarie Capital.
- Alex Hunstad, senior
associate. Hunstad previously was a private equity
associate at Water Street Healthcare Partners and an investment
banking analyst in the global financial sponsors and M&A groups
at Barclays Capital.
- Amy Zhang, senior
associate. Zhang previously was an investment banking
credit risk analyst focused on the insurance sector at
JPMorgan.
Allstate's Performance-Based Opportunistic
Strategy
The team adapts investment themes as market
dynamics change, and views investment opportunities through a
long-term lens. The typical investment size ranges from
$25 million to $100 million, and the
team can execute through both the primary and secondary markets.
For more information, visit
www.allstateinvestments.com/opportunistic.html.
The Allstate Corporation (NYSE: ALL) is the nation's
largest publicly held personal lines insurer, protecting
approximately 16 million households from life's uncertainties
through auto, home, life and other insurance. Allstate
Investments has decades of experience pursuing strategies in a
broad array of asset classes and geographies in both the public and
private markets. For more information on the company's investments
focus, visit www.allstateinvestments.com.
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SOURCE The Allstate Corporation