- Diamond Castle Holdings
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Diamond Castle Holdings 
Type Private Industry Private equity Predecessor DLJ Merchant Banking Partners Founded 2004 Founder(s) Lawrence Schloss[1] Headquarters New York, New York, U.S. Key people Ari Benacerraf, Michael Ranger, Andrew Rush, David Wittels Products Leveraged buyout Total assets $1.9 billion Employees 25+ Website www.dchold.com Diamond Castle Holdings is a private equity firm focused on leveraged buyout and growth capital investments in middle-market companies across a range of industries including the media, healthcare, financial services, power and industrial sectors.
The firm, which is based in New York City, was founded in 2004. The firm has raised approximately $1.9 billion since inception.
Contents
History
Lawrence (Larry) Schloss who had joined Donaldson, Lufkin & Jenrette in 1978 was among the founders of the firm's private equity business in 1986, DLJ Merchant Banking Partners.[1] After the acquisition of Donaldson, Lufkin & Jenrette by Credit Suisse First Boston, the group, which was led by Larry Schloss and Avista Capital's Thompson Dean, faced significant turnover.
In 2004, DLJMB co-head Larry Schloss, along with four senior members of DLJ Merchant Banking Partners, led a spinout from Credit Suisse to form a new private equity firm which would come to be known as Diamond Castle Holdings.[2][3] In December 2006, the firm announced it had completed fundraising for a $1.85 billion private equity fund, known as Diamond Castle Partners IV (a reference to the three DLJMB funds previously raised).[1]
The following year, in 2005, a team of professionals, led by Thompson Dean and Steven Webster, completed a spinout of DLJMB to form a new private equity firm, Avista Capital.[4]
Unlike Avista, Diamond Castle did not receive support from Credit Suisse for its debut fund and the split was not considered amicable.[5]
See also
- DLJ Merchant Banking Partners
- Avista Capital Partners
References
- ^ a b c After the Summit, a Different Path. New York Times, December 15, 2006
- ^ Moore, Heidi N. DLJ: Wall Street’s Incubator Wall Street Journal, March 10, 2008
- ^ Former CSFB execs to launch new private equity firm. AltAssets, September 22, 2004
- ^ Avista fund challenges Credit Suisse Buyouts, June 14, 2007. Cached version
- ^ Avista, With CS Backing, Makes Splashy Debut. Reuters Buyouts, June 25, 2007 Cached version
External links
- Diamond Castle Holdings (company website)
Private equity and venture capital investment firms Investment strategy 
History History of private equity and venture capital · Early history of private equity · Private equity in the 1980s · Private equity in the 1990s · Private equity in the 2000sInvestors Institutional Investors · Pension funds · Insurance companies · Endowments · Investment Banks · Merchant banks · Fund of funds · High net worth individuals · Angel investors · Family offices · Sovereign wealth fundsPrivate equity firms · Venture capital firms · Portfolio companiesMerchant banking private equity groups (current and prior) ABN Amro: AAC Capital Partners · Bank of America: BAML Capital Partners · Barclays Capital: Barclays Private Equity · Bear Stearns: Irving Place Capital (fka BSMB) · CIBC World Markets: Trimaran Capital Partners · Citigroup: Metalmark Capital · Court Square Capital Partners · CVC Capital Partners · Credit Suisse: DLJ Merchant Banking · Avista Capital Partners · Diamond Castle Holdings · Deutsche Bank: MidOcean Partners · First Chicago Bank (defunct): Madison Dearborn Partners · GTCR · Goldman Sachs: Goldman Sachs Capital Partners · JPMorgan Chase: CCMP Capital (fka JPMorgan Partners) · One Equity Partners · Lazard: Lazard Alternative Investments · Lehman Brothers (defunct): Trilantic Capital Partners · Morgan Stanley: Metalmark Capital · Morgan Stanley Capital Partners · UBS: UBS Capital · Affinity Equity Partners · Capvis · Lightyear Capital · Wells Fargo: Norwest Venture Partners · Pamlico Capital · William Blair & Company: Chicago Growth Partners · William Blair Capital Partners
List of investment banking private equity groupsCategories:- Private equity firms of the United States
- Companies established in 2004
- Investment banking private equity groups
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