NEW YORK (
has created a private capital group within the firm's investment banking division to help raise capital for alternative investment funds and investment vehicles targeting the middle market companies.
Garett Stoffels and Steven Tuch are heading up the firm's new division. Stoffels was formerly a managing director at
, and Steven Tuch was a managing director at
"We are starting to see the loosening of the purse strings," Steven Tuch told
"Activity on the fund side will pick up in 2011 and 2012."
The group has already completed its first deal as a financial advisor to Cantor Commercial Real Estate Company (CCRE) in connection with the structuring of CCRE, a real estate financing business that announced its formation on August 11, 2010.
Cantor will be targeting opportunties in small to middle market funds and distressed funds explains Garett Stoffels. "On the funds side, ones with alternative strategies and on the direct placements investment vehicles side, ones with distressed asset components, financial institutions and energy," he said.
Cantor's private capital group will be raising money over the next 12-18 months, according to Garett Stoffels. In order to raise these funds the group is hoping to hire 20 more to its team.
--Written by Maria Woehr in New York.
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