5 Questions for Cliff Friedman, Constellation Growth Capital
Constellation Ventures, a former affiliate of Bear Stearns Asset Management, today announced that it has become part of Highbridge Capital Management's principal investment effort. It also has closed its third fund with $300 million, and renamed itself Constellation Growth Capital. So've got 5 Questions for Cliff Friedman, Constellation's founding partner. 1. Bear Stearns collapsed while you were in the middle of fund-raising. Did you ever think that Constellation wasn’t going to be able to raise another fund? No. First of all, we had great strength in our existing portfolio. Then, once the hedge funds blew up, we got a lot of inbound interest from secondary buyers wanting to do a lift-out of the firm. We went down the path of lining up a serious buyer, but then Todd Builione, COO of Highbridge, called me up and asked to sit down and talk about how Constellation could have a future at Highbridge.
