Markstone Hires Gillerman to Replace Broidy

Markstone Capital announced today that the firm appointed Ambassador Dan Gillerman as Chairman following the resignation of Elliott Broidy. Today Attorney General Andrew Cuomo announced Broidy pled guilty to pled guilty to bribing officials of New York State Common Retirement Fund in exchange for a $250 million commitment to Markstone Capital's Israel-focused venture capital fund. Markstone said the firm expects the investigation will have no effect on the value of investors’ interests in the partnerships. The firm has thus far has invested $562 million in ten companies, with an overall gross internal rate of return of 11%, the firm said.

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