During 2009, Greenhill announced its separation from its historical merchant banking business in order to focus entirely on the client advisory business. Specifically, the Firm sold to senior members of the existing investment team, the right to launch successor funds to its three current merchant banking funds.

The existing funds will continue to be managed by the current investment team, which will remain Greenhill employees until transitioned to a new, independent entity, which will be known as GCP Capital Partners ("GCP"). Greenhill will retain its portfolio of principal investments and seek to realize the value thereof over time.

GCP, the independent successor to Greenhill's merchant banking business, is a $1.7 billion private equity firm.  GCP focuses on middle-market private equity investments primarily in North America. Some of GCP’s focus industries are energy, insurance, financial services, telecommunications, for-profit education and other specialized services.  The GCP investment team has over 110 years of collective private equity investment experience and senior operating experience and are substantial personal investors in the fund. 

Please click here for the press release describing the transaction.