Public Pension Capital is a middle-market private equity fund that invests in a select group of industries: Business & Industrial Services, Financial Services, Healthcare and Specialty Chemicals.


The PPC team is led by former KKR partners Perry Golkin and Mike Tokarz.  The principals of PPC have worked together for a combined 70+ years with a successful investment record over that time.

Our experience allows us to add value to portfolio companies through industry relationships, new customer introductions, strategy development, regulatory understanding, operational improvements and implementation of best practices.

Investment Characteristics


1

Public Pension Capital looks to invest in U.S. based middle-market companies in the Business & Industrial Services, Financial Services, Healthcare and Specialty Chemicals industries.

 

2

Equity investment range of $25 million to $75 million.

3

Typical companies have:

  • Annual revenue between $25 million and $250+ million
  • EBITDA between $5 million and $25+ million
  • Proven management teams with stable cash flows and defensible market positions
  • Significant growth opportunities

Industry Sector Focus


The principals of PPC have significant experience across the Fund’s four industry verticals.

Business Services

  • Data / Information
  • Business Process Outsourcing
  • Software
  • Technology-Enabled Marketing

Industrial Services

  • Environmental Services
  • Infrastructure and Facilities Maintenance
  • Route-Based Services
  • Sanitation and Waste Removal
  • Specialty Contractors
  • Insurance
  • Asset Managers
  • Financial Technology
  • Community Banks
  • Services
  • Medical Information Technology
  • Medical Devices
  • Outsourced Services
  • Practice Management
  • Clinical Services
  • Food / Flavors / Fragrances
  • Adhesives / Sealants / Coatings
  • Personal Care Ingredients
  • Polymer Additives
  • Water Treatment

Team


Founders

perry-golkin

Mr. Golkin is Co-Founder and Chief Executive Officer of Public Pension Capital.  He is a senior investment professional with 30 years of private equity experience and prior experience as a corporate lawyer. He is also a certified public accountant.  Mr. Golkin was an executive with KKR from 1986-2011 and a general partner or member from 1995 through 2009. During his career at KKR he held various positions with the firm including: (1) serving on KKR’s Operating Committee; (2) serving on KKR’s Portfolio Management Committee and chairing that committee for 5 years; (3) serving as KKR’s New York Administrative Partner; (4) leading KKR’s investor relations and fundraising group; and (5) leading KKR’s financial services and homebuilding industry groups. Mr. Golkin has served on numerous corporate boards, both public and private. Prior to KKR he practiced corporate law with Simpson Thacher & Bartlett, was a staff accountant at Price Waterhouse & Co. and taught financial and management accounting at the University of Pennsylvania’s Wharton School of Business. Currently Mr. Golkin is an Adjunct Professor of Law at the University of Pennsylvania, serves as a trustee of the University of Pennsylvania and serves on the boards of both its Law School and health system. Additionally, in the spring term he teaches an interdisciplinary course entitled Business Strategy, Private Equity and Corporate Law to law students and MBA candidates at Penn.  Mr. Golkin graduated with a B.S., summa cum laude, and M.S. from the University of Pennsylvania’s Wharton School of Business and also received a J.D. from the University of Pennsylvania’s Law School.

michael-tokarzMr. Tokarz is Co-Founder of Public Pension Capital.  He is a senior investment professional with over 35 years of lending and investment experience. From November 2003 through today, Mr. Tokarz has served as Chairman and Portfolio Head of MVC Capital, Inc. a business development company. Prior to MVC, he was a general partner or member of KKR during a 17-year tenure with the firm. At KKR, among other responsibilities, Mr. Tokarz served as New York Administrative Partner, a member of KKR’s Portfolio Management Committee and head of the commercial banking industry group. He also had roles in some of KKR’s most successful investments including Beatrice Foods, Safeway Stores and Bank of New England.  Mr. Tokarz has served on numerous corporate boards and was the Chairman of the Board of the University of Illinois Foundation. Prior to his tenure at KKR, Mr. Tokarz was a commercial banker at Continental Illinois and ran the bank’s East Coast operation. He received his undergraduate degree with High Distinction in Economics and an MBA in Finance from the University of Illinois and is a certified public accountant. He was selected as one of the “Ten Best Corporate Directors in America” by Outstanding Directors Exchange in 2007.

 

Senior Investment Professionals

thomas-ugar

Mr. Uger is a senior investment professional with over 18 years of private equity experience. Prior to joining PPC, Mr. Uger was a partner and head of merchant banking at LionTree LLC, a boutique investment bank.  Prior to LionTree, Mr. Uger was a partner and co-head of North America Media and Communications at KKR, where he worked for 16 years.  While at KKR, Mr. Uger served on the Boards of Ipreo, Weld North, Primedia and Evenflo.  Mr. Uger was also involved in numerous other KKR investments, including in PanAmSat, KSL Holdings and Nexstar Financial. Mr. Uger currently serves on the Board of Directors of New Alternatives for Children, a not-for-profit organization that provides health and social services to children with disabilities and chronic illnesses. Mr. Uger received a B.A. in Government from Dartmouth College.

james-r-fisher

Mr. Fisher is a senior investment professional with over 20 years of financial services and investment experience. From April 1, 1997, through April 1, 2012, Mr. Fisher served as Managing Member of Fisher Capital Corp. LLC, an affiliate of KKR, where he assisted in identifying and analyzing investment opportunities in financial services. Mr. Fisher has also spent a large portion of his career as an insurance executive at various companies. He was Chairman and CEO of Bristol West Holdings, Inc., a non-standard automobile insurer and a KKR portfolio company from 2000 to 2006, and prior to that, he was at American Reinsurance Corporation from 1986 to 1997, where his roles included Chief Financial Officer of American Re Corporation, President of American Reinsurance Financial Products and President and Chief Executive Officer of American Reinsurance Asset Managers. As a key member of KKR’s financial services team, Mr. Fisher also served on the boards of Willis Group Holdings Limited (global insurance and reinsurance broker), First Data Corporation (one of the largest credit card processing companies in the U.S.), and Alea Group Holdings (a Bermuda-based international reinsurance company). Prior to American Re Corporation, he was a Director of Insurance Industry Services at Price Waterhouse. He is a former Trustee for The National World War II Museum and the American Foundation for the Blind, and is a member of the Standing Committee of Lafayette College Board of Trustees. Mr. Fisher received a B.A. in Economics from Lafayette College, and is a certified public accountant.

jeffrey-kraussMr. Krauss is a senior investment professional with over 26 years of private equity experience. Prior to joining PPC, Mr. Krauss was a member of Psilos Group Managers, LLC, from 2000 to 2012, with a focus on investments in the healthcare services, healthcare information technology, and medical technology segments. Prior to joining Psilos Group Managers, LLC, Mr. Krauss was a general partner at Nazem & Company, a New York-based venture capital firm, from 1990 to 2000.  While at Nazem & Company, he specialized in investments in the healthcare services and healthcare information technology segments. Prior to joining Nazem & Company, Mr. Krauss was an attorney with the law firm of Simpson Thacher & Bartlett, where he specialized in private equity transactions. Mr. Krauss was an auditor with the accounting firm of Ernst & Young before joining Simpson Thacher & Bartlett. Mr. Krauss is currently a volunteer with the New York City Investment Fund in the Fund’s Healthcare Sector Group, as well as several healthcare-related not-for-profit entities. Mr. Krauss received a B.S. in Accounting, magna cum laude, from the State University of New York at Albany and received a J.D., cum laude, from Harvard Law School. He currently serves on the board of several private companies.

max-alper

Mr. Alper is a senior investment professional and leads Industrial Services investments at PPC. He was previously with KKR where he led private equity investments in the Services, Chemicals and Consumer sectors. He has served on the boards of directors and audit committees of Del Monte Corporation, Big Heart Pet Brands, and The Brickman Group, and was also involved with KKR’s investment in The Nielsen Company.  Prior to joining KKR Mr. Alper was with SAB Capital, Madison Dearborn Partners, and Morgan Stanley Capital Partners. Mr. Alper graduated from the University of Texas at Austin with a BBA/BA in Plan II and Business Honors, and received his MBA from Harvard Business School.

shivani-khurana

Ms. Khurana is the co-head of Specialty Chemicals at PPC. She has over 15 years of experience in private equity, investment management and investment banking. Ms. Khurana is also a managing director at MVC Capital, which she joined in 2004, and serves on the Board of Directors and manages several portfolio companies. Before joining MVC, Ms. Khurana worked at Cadigan Investment Partners, a middle-market private equity firm; in the leveraged finance group of Wachovia Securities where she specialized in restructuring advisory, distressed debt investing and turnaround financing; and the investment banking group of Merrill Lynch. Ms. Khurana’s prior experience includes managing a diversified U.S. and European equities portfolio at Al-Ahlia Investment Company. Ms. Khurana received a Bachelor of Commerce with accounting honors from Panjab University, India; an MBA in Finance from University of Sheffield, UK; and an M.S. in Finance from University of Rochester, New York.

lynchMr. Lynch is the head of PPC’s Chicago office and has over 20 years of consulting, operations and private equity experience. Mr. Lynch is also a managing director of MVC Capital with responsibilities for deal sourcing, execution and monitoring of portfolio investments. Prior to joining MVC in 2007, Mr. Lynch was a Managing Director at FTI Consulting (NYSE:FCN) and a Leader of the Intellectual Property Transactions practice. Previously, Mr. Lynch worked at Deloitte & Touche Financial Advisory Services as a Practice Leader of Deloitte’s Intellectual Asset Management service line.  At both Deloitte and FTI, Mr. Lynch managed global teams that performed innovation and corporate finance engagements for Fortune 500 corporations, financial institutions, entrepreneurial ventures and public sector institutions. The client engagements included corporate finance, M&A and intellectual property transactions, strategic innovation and operational consulting, technology commercialization and the creation of new business enterprises. Before Deloitte, Mr. Lynch worked in business competitive intelligence and internal audit for Owens Corning Corporation (NYSE:OC).  Mr. Lynch holds a Bachelor of Science in Accounting from Purdue University and an MBA from the University of Illinois.

puneet-sanan

Mr. Sanan is co-head of the Specialty Chemicals at PPC.  He has over 18 years of experience in private equity, corporate finance and investment banking with expertise in originating, developing, analyzing, structuring, financing and negotiating leveraged and management buyouts, recapitalizations and growth capital financing for middle-market companies.  Mr. Sanan is also a managing director at MVC Capital, which he joined in 2004, and serves on the Board of Directors of several portfolio companies.  Before joining PPC and MVC, he was an investment banker at UBS and PaineWebber, prior to which he worked as a chemical engineer in the chemical industry.  Mr. Sanan received a Bachelor of Engineering (Honors) in Chemical Engineering from Panjab University, India; and an MBA in Finance from The University of Texas at Austin.

seidenbergMr. Seidenberg is a managing director with over 15 years of experience in private equity and venture capital investing, corporate finance, operations and general management. Mr. Seidenberg is also a managing director and former CFO at MVC Capital, which he joined in 2005 and has played a key role in MVC’s growth, debt and equity capital raises, execution and monitoring of investments. Mr. Seidenberg previously served as a Principal and Chief Operating Officer of Nebraska Heavy Industries and worked on engagements including serving as CFO of Commerce One, Inc. (NASDAQ:CMRC). Prior to Mr. Seidenberg’s tenure at NHI, he served as the Director of Finance and Business Development and as Corporate Controller for Plumtree Software, Inc. (NASDAQ:PLUM) where he was responsible for driving strategic initiatives and managing the finance and accounting staff.  Before joining Plumtree, Mr. Seidenberg worked at AlliedSignal. While at AlliedSignal, Mr. Seidenberg held a variety of roles including Controller and Manager of Financial Operations. Mr. Seidenberg has served in a variety of roles including General Manager at several small manufacturing companies. Mr. Seidenberg received his bachelor degree and MBA from Cornell University.

michael-noonan

Mr. Noonan is an investment professional responsible for sourcing, executing and monitoring investments. Prior to joining PPC, Mr. Noonan was a senior manager at Northrop Grumman, where he worked in the office of the CFO. Mr. Noonan has extensive middle market investing experience, having held positions at private equity funds Eos Partners and Graham Partners. He was also an investment banking professional at J.P. Morgan and Greenhill & Co.  Mr. Noonan received a B.A. in Political Science from Duke University, an MBA from the University of Pennsylvania’s Wharton School of Business and a JD from the University of Pennsylvania’s Law School.  Mr. Noonan was a Fulbright Scholar lecturing on foreign direct investments in emerging markets at the University of Tartu in Tartu, Estonia.

 

Operations & Administration

Ms. Guarnaccio is responsible for the day-to-day management of the PPC offices.  She is involved in managing the budget, obtaining service contracts and developing policies. Ms. Guarnaccio is also responsible for investor relations including maintaining communication and coordination with the investors.  Prior to PPC, Mrs. Guarnaccio spent 32 years at KKR where she worked in a number of capacities including Director of Fund Administration.

scott-schuenke

Mr. Schuenke is responsible for overseeing the financial operations of PPC.  He also provides financial expertise and monitoring to various portfolio companies and assists investment professionals in deal sourcing, due diligence, modeling and closing activities.  Mr. Schuenke also oversees the financial operations of The Tokarz Group (a family office owned by Michael Tokarz), MVC (a publically traded Business Development Company), and its wholly-owned subsidiaries.  Prior to joining PPC/TTGA, Mr. Schuenke was a compliance officer with US Bancorp Fund Services, LLC, where he was responsible for financial reporting and compliance oversight of more than 15 open- and closed-end registered investment companies. Mr. Schuenke also worked in the audit and assurance services area with PricewaterhouseCoopers, LLP. Mr. Schuenke received a B.B.A. from the University of Wisconsin, Milwaukee, a M.P.A. from the University of Wisconsin, Whitewater, and an MBA from the Northwestern University Kellogg School of Management. Mr. Schuenke is a Certified Public Accountant licensed in the State of Wisconsin.

Investors


 

PPC was founded as a unique partnership between leading state pension funds, other long term investors and the principals of PPC. PPC offers its investors a high degree of transparency, governance and alignment of financial incentives. PPC’s structure is designed to provide its investors with attractive, long-term risk-adjusted returns.

Contact


500 Park Avenue, 4th Floor
New York, NY 10022
212.768.4554

The Hyatt Center
71 S. Wacker Drive
Suite 2760
Chicago, IL 60606
T: 312-380-6000