Grady leaves Mount Kellett Capital – report
Mount Kellett Capital, the private equity firm started by former Goldman Sachs executive Mark McGoldrick, has reportedly lost real estate specialist Timothy Grady. He joined Mount Kellett in 2010 as a managing director, having previously worked at Merrill Lynch, Morgan Stanley and Lehman Brothers.
Two sources familiar with the situation told Reuters of Grady's departure but it is unclear whether he is moving to a new role.
McGoldrick, formerly head of Goldman's global special situations group, launched Mount Kellett in 2008. The firm is named after a mountain in Hong Kong. A global distressed asset fund, 40% of which will be deployed in Asia, closed at $3 billion in December 2009. According to AVCJ Research, Mount Kellett's investments include Marathon Resources and Lynas Corporation, both of which are Australian mining companies.
Early last year the private equity firm also paid $100 million for a 20% stake in Masan Resources, a unit of Vietnamese conglomerate Masan Group. The funds were put towards the Nui Phao mine, which is rich in tungsten and fluorspar reserves.
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