MGG Investment Group, a private specialty finance firm focused on direct lending, has set up shop in New York with a $200 million investment from Frank McCourt, the founder of real estate development firm McCourt Global, and former owner of the Los Angeles Dodgers baseball team.
MGG is led by chief executive and chief investment officer, Kevin Griffin, who was previously a managing director and credit committee member at New York-based Highbridge Principal Strategies. MGG plans to focus on middle and lower-middle market companies, the firm said in a statement.
Before working at Highbridge, Griffin served as head of private investing for Octavian Advisors, a private equity and debt investment firm. He has also held senior roles at Fortress Investment Group, where he was responsible for originating and underwriting loans for the Drawbridge Special Opportunities Fund.
MGG's team is includes people with a variety of experience including lenders, restructuring advisors, banks and law firms. Gregory Racz has also joined as president, chief operating officer and chief legal officer of MGG. Previously, Racz served as president, principal, and chief legal officer of hedge fund Hutchin Hill Capital.
Before that, he held similar positions at Octavian, where he worked with Griffin.