Intrepid Investment Bankers today announced the expansion of the firm’s Capital Advisory Group and the establishment of its Special Situations practice. Lorie Beers, who joins as Managing Director and Head of Special Situations, will be accompanied by Managing Director Kenneth Garnett. Both Lorie and Ken will be based at Intrepid’s New York office.
“Special Situations is a natural evolution of our team’s capabilities. In a complex economic environment, we aim to deliver the best capital solutions regardless of where a company is in its own business cycle. Intrepid’s extensive experience in raising capital to fund growth, acquisitions, shareholder liquidity, working capital and refinancing needs will be further augmented by Lorie’s and Ken’s industry-leading expertise across financial restructuring, liability management and distressed mergers and acquisitions,” said Jonathan Zucker, Managing Director and Head of Intrepid’s Capital Advisory Group.
Lorie brings over 35 years of professional experience that encompasses the full spectrum of financial restructuring. Most recently, she was the founder and Group Head of Special Situations Investment Banking at Cowen. Previously, Lorie held senior banker roles at StormHarbour Securities, Variant Capital Advisors, Seabury Group, KPMG Corporate Finance and Gordian Group. She began her career as a bankruptcy attorney and ultimately became a partner at Kasowitz, Benson, Torres & Friedman.
Ken has spent over 26 years working in investment banking, private equity, restructuring, and turnaround consulting. For the past two years, he was a Managing Director in Special Situations Investment Banking at Cowen. Previously, Ken was a Partner and Founder at Renewal Capital, a private equity fund making special situations investments in the lower middle market, as well as a partner at investment bank Gordian Group.
“Intrepid has developed a leading middle-market advisory platform, with industry expertise across a broad range of sectors and deep institutional relationships. I look forward to partnering with my Intrepid colleagues to deliver best-in-class solutions to our clients,” commented Lorie Beers. Kenneth Garnett added, “Intrepid’s culture of teamwork, tenacity, and creativity are well-known in the industry, which will be a critical advantage throughout business cycles.”
“We are very excited to have Lorie and Ken join the Intrepid team. We didn’t just want to add bankers with restructuring and special situations expertise – we looked for the best-in-class team and we found it in Lorie and Ken. Their extensive experience in resolving complex balance sheet challenges adds yet another specialty offering to our commitment to be the one source of expert advice to our clients throughout their corporate and economic cycles. We will continue to grow Intrepid by adding core competencies and industry-focused, differentiated solutions for our clients,” said Ed Bagdasarian, Chief Executive Officer of Intrepid. The firm, founded in 2010 in Los Angeles, recently announced additional key senior banker hires and the opening of offices in New York, Charlotte, Chicago, and Menlo Park.