- Until March 2011, Mr. Millstein was the Chief Restructuring Officer at the U.S. Department of the Treasury. In that role, he was responsible for oversight and management of the Department's largest investments in the financial sector. He was the architect of American International Group's (AIG) successful restructuring, described by the Wall Street Journal as the "Super Bowl of Corporate Turnarounds."
- From July 2000 to April 2009, Mr. Millstein served as Managing Director and Global Co-Head of Corporate Restructuring at Lazard. Mr. Millstein managed a leading restructuring practice in Europe, the United States and Asia. Selected engagements included representation of the United Auto Workers in connection with the restructuring of their contractual relationships with GM, Ford and Chrysler; representation of Charter Communications in connection with its pre-packaged plan of reorganization under Chapter 11; representation of the Republic of Argentina in connection with the exchange offer for its international bond indebtedness; representation of WorldCom in connection with its Chapter 11 reorganization; representation of United Pan-European Communications in connection with its pre-arranged plan of arrangement in the Netherlands and Delaware; and, representation of Marconi in connection with its scheme of arrangement in the United Kingdom.
- Before joining Lazard, Mr. Millstein was Partner and Head of the Corporate Restructuring practice at Cleary, Gottlieb, Steen & Hamilton. From September 1982 to June 2000, Mr. Millstein managed a highly successful practice of a major international law firm. Significant engagements included representation of Daewoo Corporation in connection with its financial restructuring in Korea; representation of the Disney Corporation in connection with the financial restructuring of EuroDisney in France; representation of Pan-American Airlines in connection with its Chapter 11 reorganization; and, representation of the Zell-Chilmark Fund in its acquisition of various troubled companies in and out of Chapter 11.
- He is currently a member of the boards of DLT Solutions and Government Revenue Solutions.
- Mr. Millstein received a J.D. from Columbia Law School, where he was a Harlan Fiske Stone Scholar. He holds an M.A. in Political Science summa cum laude from the University of California, Berkeley. Mr. Millstein graduated summa cum laude with a B.A. in Politics from Princeton University.
Michael DuranManaging Partner
- Mr. Duran was most recently a Managing Director and member of the investment committee at Ripplewood Holdings. In his thirteen years at Ripplewood, he executed successful domestic and international control investments in many industries, including business services, industrials, consumer products, direct marketing, telecom equipment and consumer electronics. Mr. Duran was an integral member of Ripplewood’s fundraising efforts over multiple funds during his tenure. He has completed in excess of $3 billion of debt and equity financing arrangements as a principal investor in various companies. In addition, Mr. Duran held numerous board positions for Ripplewood portfolio companies.
- Prior to joining Ripplewood, Mr. Duran worked in mergers and acquisitions at Broadview, a technology-focused boutique investment bank, in both their New York and London offices. While at Broadview, he completed a variety of transactions for companies including AT&T, IBM, Cincinnati Bell, and BMC Software. Mr. Duran is a member of the boards of DLT Solutions, Atlantix Global Systems, Diversified Distribution Systems, Metal Powder Products, Huntington Foam and Government Revenue Solutions.
- Mr. Duran is a graduate of Georgetown University, where he studied finance and international business.
- Mr. Smith has over 16 years of experience in the private equity and investment banking industries. Prior to joining Millstein, he served as a Managing Director and Head of Industrials for American Capital. At American Capital, Mr. Smith was responsible for the origination, structuring, negotiation and oversight of the firm’s private equity transactions. Prior to joining American Capital in 2004, Mr. Smith was an associate with MML Partners, a $530 million mezzanine and private equity fund specializing in growth financings for middle-market companies. Prior to MML, Mr. Smith was with Credit Suisse First Boston’s Mergers and Acquisitions Department, focused on transactions in the industrial, consumer and energy sectors.
- Mr. Smith has served on the board of directors of several portfolio companies, including DelStar Technologies, Dynojet Research, eLynx Holdings, Fosbel Holdings, HALT Medical, Imaging Business Machines, Lifoam Holdings, Mirion Technologies, Pacific Handy Cutter and FreeConference.com. He is currently a member of the boards of Metal Powder Products, Huntington Foam and Government Revenue Solutions.
- Mr. Smith is a Phi Beta Kappa and magna cum laude graduate of Georgetown University, where he earned both B.S. and M.S. degrees in International Relations, Economics and Business Diplomacy.
Richard SummersVice President
- Prior to joining Millstein, Mr. Summers was with Barclays Investment Bank. At Barclays, he was a member of the Industrials team responsible for providing strategic advice on mergers & acquisitions and capital raising across a variety of verticals, including aerospace & defense, automotive, building products, capital goods, engineering & construction, paper and packaging, and transportation.
- Additionally, Mr. Summers was a founding member of Barclays’ Strategic Finance Group, where he advised clients across all industries on shareholder activism, hostile M&A, and takeover defense. The group also advised clients on non-distressed equity restructurings, including spin-offs, split-offs, and IPO-carveouts.
- He is currently a member of the boards of Metal Powder Products and Huntington Foam.
- Mr. Summers holds a B.S. in Business Administration, with a concentration in Finance, from the University of North Carolina at Chapel Hill.
- Prior to joining Millstein, Mr. Paolano was with American Capital. At American Capital, he was a member of the private equity team responsible for identifying and analyzing investment opportunities, structuring and closing transactions and working closely with management teams to accelerate growth and add value by implementing strategic and operational initiatives. At American Capital, Mr. Paolano facilitated investments across the entire capital structure including both equity and debt with over $110 million deployed.
- Previously, Mr. Paolano was a member of the financial sponsors group at Citi, where he advised clients on sponsor-led acquisitions and leveraged financings.
- Mr. Paolano is a magna cum laude graduate of the University of Notre Dame where he earned a B.B.A. in Finance.