Banking, finance, and taxes

Green Private Equity Fund, With a Hockey Twist

Douglas A. McIntyre
Published:
Last Updated:

Michael Richter, former All-Star goalie for the New York Rangers, has announced the formation of Environmental Capital Partners, LLC as a private equity firm focused exclusively on the environmental industry.  “ECP” has formed a relationship with New York Private Bank & Trust to invest $100 million in middle-market green companies.

Sectors of particular interest for the firm include:

  • Green consumer products,
  • Eco-friendly building materials,
  • Alternative energy,
  • and Industrial environmental services.

ECP is actively seeking growth and buyout transactions that require equity investments of $10-25 million, but the firm has the ability to complete larger transactions.

The firm will be led by Managing Partners William Staudt, an entrepreneur with extensive private equity and operating experience, and Robert Egan, formerly of J.P. Morgan Partners, LLC. The firm’s Partners include Dr. Stephen Kellert, a senior professor at the Yale School of Forestry and Environmental Studies, and former New York Ranger, Michael Richter, a recognized figure in the environmental community and frequent speaker at environmental events.  Mr. Richter was considering a run for Congress when he was first approached about forming ECP. If you watch hockey you might find the greening or environmental efforts somewhat amusing considering the fights.

New York Private Bank & Trust Company is the largest privately owned bank in the nation. Howard Milstein, President and CEO of NYPB&T, and Barry Friedberg, a Director of NYBP&T, and the former chairman of the Investment Banking Division and member of the Executive Management Committee at Merrill Lynch & Co., will serve on ECP’s Investment Committee along with Messrs. Egan and Staudt.

If you’d like to see our coverage in the sector for a quick review visit the following:

Jon C. Ogg
September 25, 2007

Is Your Money Earning the Best Possible Rate? (Sponsor)

Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.

However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.

There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Read more: Banking, finance, and taxes, alternative energy, private equity

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

Latest from 24/7

Countries With the Highest Taxes: Where Does the US Rank?

These Are the Countries With the Highest Tariff Rates in the World

America's National Debt Is Surging - but These Countries Look a Lot Worse