Distressed specialist Patriarch Partners has hired former US Army General Howard Yellen to run its newly created defense platform.
Yellen will oversee the development of proposals for new opportunities in the defense and interagency marketplace. He will provide oversight and coordinate strategy for companies in the firm’s portfolio that hold business opportunities within the US Federal Government, specifically the Department of Defense, according to Patriarch’s web site.
Before joining Patriarch, Yellen was also vice president for business development for L-3 Communications, a major provider of homeland defense products and services
Prior to military retirement in 2006, Yellen served as Deputy Commanding General of US Army Special Operations Command at Fort Bragg where he secured funding to support the Global War on Terror in Iraq and Afghanistan.
Patriarch, founded in 2000 by Lynn Tilton, makes direct investments in distressed businesses. Funds managed by the firm amount to more than $6 billion, with equity investments in more than 70 companies. The defense and interagency platform will be an addition to Patriarch’s existing platforms in sectors such as manufacturing, aerospace, automotive, media and technology.
The firm has previously invested in Xinhua Media Finance, Rand McNally, and Arizona Iced Tea.