Cogent sets up New York office

Secondary advisory specialists Cogent Partners has appointed William Murphy and Patrick Shattenkirk managing directors to head their operations in New York.

( Dallas-based private equity secondary advisors Cogent Partners announced it appointed William Murphy and Patrick Shattenkirk managing directors. The two will establish a new office in New York for the firm, according to a press release.

Murphy joins the firm from Salomon Smith Barney, where he held senior positions in the private equity and real estate groups. In the private equity group, Murphy led new product development and provided liquidity through secondary sales and securitisation of private equity portfolios.

Shattenkirk joins the firm from Deutsche Bank, where he was a director in the private equity group. While there, he serviced institutional investor relationships and provided private equity consulting services for limited partners and general partners.

Cogent Partners was formed in June 2002 by a group of former Crossroads Group executives to help limited partners execute secondary transactions. The firm provides secondary transaction and advisory services to limited partners looking to exit their position in a private equity fund. The firm will help price the portfolio, negotiate terms and transaction prices, and provide legal expertise during closing. The firm will also offer secondary transaction fairness assessments for limited partners.

The firm was founded by managing directors Colin McGrady, Stephen Sloan, and Scott Myers and associates Ian Charles and Brian Mooney. Charles, McGrady, Mooney and Myers were all primarily involved with the due-diligence department of the Crossroads Group, where they researched both fund of funds placements and direct deal placements. Sloan joined the firm from Goldman Sachs, where he was in the structured products group. McGrady and Myers were also in the private equity division of consulting firm Bain & Co.