Continuation Fund Provides Incremental Capital to Accelerate Growth and Support Future M&A New York, NY,…
NEW YORK AND SAN FRANCISCO, February 15, 2002 – Behrman Capital, a private investment firm, today announced that firm co-founder Darryl G. Behrman died unexpectedly on Tuesday, February 12, 2002, while vacationing in Anguilla. He was 51 and lived in Scarsdale, New York. The cause of death was a heart attack, according to his son Greg.
One of three managing partners at Behrman Capital, Mr. Behrman co-founded the firm with his brother, Grant Behrman, in 1991. Behrman Capital has $1.8 billion of investor commitments under management. The Firm focuses on making equity investments in non-public companies, principally as leveraged buyouts, in four key areas: information technology, outsourcing, business services and contract manufacturing. Behrman Capital’s portfolio company investments have included, among others, Nimbus CD International, Kalpana and The Management Network Group, Inc. (Nasdaq: TMNG).
Mr. Behrman served as Chairman of the Board of Esoterix, Inc. and served on the boards of ADVENTIS Corporation, Tandem Health Care, Inc. and Executive Greetings, Inc.
Prior to founding Behrman Capital, Mr. Behrman was a partner in Schroder Wertheim & Co. Incorporated. While at the firm, he specialized in middle-market mergers and acquisitions, recapitalizations and management buyouts. From 1974 to 1981, Mr. Behrman was affiliated with Citicorp’s Merchant Banking Group in New York and headed Citicorp’s Corporate Advisory Group in London.
Mr. Behrman, a member of the Explorers Club, was an accomplished outdoorsman. He held eight world records in fly fishing, summited Long’s Peak via the North Face route in Colorado and Mt. Kilimanjaro via the Umbwe route in Tanzania, and co-led an expedition into the polar regions of the High Arctic. An avid runner, he completed the 1997 New York City Marathon. He also qualified in his age group to compete in the 1998 U.S. National Triathalon Championships.
Mr. Behrman was born on July 23, 1950 in Johannesburg, South Africa. He received an undergraduate degree in business from the University of the Witwatersrand in Johannesburg, and an MBA from Stanford University. He became a naturalized United States citizen in 1981.
Mr. Behrman is survived by his adoring wife of 28 years, Janine of Scarsdale; his son, Greg of Oxford, England; his daughter, Amanda of San Francisco; his brother, Grant of Greenwich, Connecticut; and his mother, Fay Behrman of New York. Close family members who also survived him are his mother-in-law, Gloria Stern, sisters-in-law Shelley Behrman and Felicia Stern, brother-in-law, Colin Stern, and niece and nephews, Kim and Doug Behrman and Craig and Gary Stern.
* * * *
The following letter was sent by Behrman Capital to each of its limited partners:
All of us at Behrman Capital were shocked and greatly saddened by Darryl’s unexpected death on February 12, 2002. We, and Darryl’s family, greatly appreciate the many overtures made by our limited partners in support of the Firm and the many kindnesses extended to Darryl’s family. Your support at this time, and in these circumstances, has been of inestimable value. Darryl would have been greatly touched and complimented by your solidarity.
Darryl strove, above all, to set and maintain a standard of excellence for Behrman Capital. Keenly aware that the Firm is only as good as its investment and administrative professionals, he sought foremost to assemble an outstanding team capable of executing and accomplishing the Firm’s objectives. He was a strong and effective leader, who will be greatly missed.
All of us at Behrman Capital will draw on Darryl’s strength and vision, as we honor his legacy through the continued success of the Firm that he worked so hard to build. We are committed to carrying on the Firm’s objectives with an undaunted will to achieve – a will heightened by the remembrance of Darryl’s example.
We plan to be in touch with each of you in the coming weeks. In the meantime, please do not hesitate to contact us if you have any questions or concerns.
Grant G. Behrman
William M. Matthes
# # #