Secretariat Capital, LLC
Secretariat Capital, LLC is a private investment company that provides bespoke credit solutions and investment capital to middle market enterprises. Capital preservation and total return are its primary objectives.
Investment Thesis
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Competitive Edge
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Services
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Financing experience
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We target niche segments of private credit, preferring short-duration with income producing high collateral value when the complexity of the specific situation heightens the perceived risk.
We have the ability to understand intrinsic value even if obscured by external factors.
Given that extenuating circumstances need to be diligenced and mitigated, a dedicated team of investment professionals with deep experience in complex situations are needed to fully evaluate each investment.
Asset and investment management
Board advisory
Advisory
Asset and investment management
Special Situations
Real Estate Investment
Board advisory
BOARD ADVISORY
Board Appointments
Board and Governance Structuring
Advisory
ADVISORY
Financial Advisory: M&A and Corporate Finance
Restructuring and Project Finance
Services
Experienced Team
Inaugural team members boast a collective experience of 45 years of investment banking, corporate finance, real estate investing and development, and proprietary investing
Christopher K. Wu
Managing Member
Jonathan D. Beland
Senior Vice President, Member
Investment Thesis
Given that extenuating circumstances need to be diligenced and mitigated, a dedicated team of investment professionals with decadesdecades’ experience in complex situations are needed to fully evaluate each investment.
We target niche segments of private credit, preferring short duration situations with income producing high collateral value where the complexity of the specific situation inflates the perceived risk.
We have the ability to understand the intrinsicintrinsic value even if obscured by external factors.
Competitive Edge
Our management team is combines unique skills and backgrounds including decades of special situations advisory, investment and asset management spanning multiple business cyclescycles.
The firm is led by Christopher Wu who led the Special Situations and Investment Banking Groups at Carl Marks and Teneo Capital spanning two decades and has been instrumental in recapitalizing over 135 enterprises involving over $20 billion capital. They are supported by Jonathan Beland, an industry veteran with 15 years of experience in consulting, distressed real estate and construction and restructuring and a team of distinguished strategic advisers.
Mission
Our Mission is to capitalize on the rapidly expanding economic asymmetry between the current macro-economic cycle and the historically sustainable leverage levels that have become a source of significant financial strain on otherwise healthy, high-quality businesses and commercial real estate.
Unlock stranded value & Provide liquidity to illiquid situations.
Focus on need-based situations (rather than price) – situations require immediate liquidity or suffer disproportionate loss of value due to exogenous factors. Typically, there is an enterprise specific rational explanation that results in a more attractive return. Enterprise or asset specific risk is more mitigable or can be ringfenced vs broad based market risk which is difficult to diversify. We like special situations where the idiosyncratic upside risk exceeds the potential market downside risk.
Opportunity Resides in Off Market Situations and Underserved, Unloved Markets
- We focus on off the runoff-the-run investment niches. Niche does not mean small or obscureobscure, but it does mean off the beaten path and we spend more time in these niches than other investors since it is less efficient
