Lawrence R. Goldfarb
Lawrence R. Goldfarb (born November 21, 1958 in Queens, New York City, NY) is an American hedge fund manager and former CEO and founding partner of the LRG Capital Group, and co-founder and board member of AutismAid.
Goldfarb grew up in the New York City boroughs outside Manhattan and attended Forest Hills High School. Following high school he attended George Washington University and earned a B.A. in International Economics, and graduated in 1981.
Goldfarb began his career as a tax attorney for Milbank, Tweed, Hadley & McCloy and subsequently became a tax analyst with Skadden, Arps, Slate, Meagher & Flom, where he specialized in financings, mergers and recapitalizations. Afterwards, Goldfarb moved to San Francisco, California and joined Credit Suisse First Boston Corporation as a Partner and Director of the Mergers and Acquisitions Group. In 1998 he formed BayStar Capital Management, LLC, a vehicle in which he could fund growth oriented, small capitalization, and publicly traded companies. Through Baystar, Goldfarb funded and invested in a variety of companies such as World Online & XM Satellite Radio. Goldfarb was well known for being one of the most foremost investors and experts in Private investment in public equity, also known as PIPEs. In 2005, he founded LRG Capital Group in Larkspur, California where he served as CEO until July 2011 when he announced his retirement from active management of the company to focus on philanthropic activities. Goldfarb currently serves as a board member and West Coast Director of AutismAid, an organization dedicated to assisting and fundraising for other autism non-profit organizations.
Goldfarb has dedicated his philanthropy to autism and diabetes. His son Julian (born in 1998) was diagnosed with autism at the age of 1. In 2010, Goldfarb was awarded The American Diabetes Association's Father of the Year Award. Additionally, he has served on the boards of various non-profits & organizations.
On March 1, 2011 the Securities and Exchange Commission (SEC) alleged that Goldfarb and his company illegally diverted $12 million from a hedge fund side pocket investment to other entities he controlled. On March 1, 2011, without admitting or denying allegations, Goldfarb settled with the SEC. On June 20, 2012, the Court found that the defendants [Goldfarb] were in breach of the Final Judgment by failing to pay the disgorgement amounts ordered. The Court also found that defendants had failed to establish a good faith effort to fulfil their disgorgement obligations because, among other things, they used available funds for large personal expenses such as courtside seats to Golden State Warriors games, charters of aircraft for personal trips, Goldfarb’s mortgage payment and numerous personal vacations, rather than to pay disgorgement.
Lawrence Goldfarb helped launch the Joe Toucan Diabetes Project. The project employs a Joe Toucan doll, books, and an array of other products to help fund research and education into pediatric diabetes. Goldfarb is active in several bay-area charities.
- "Lawrence "Larry" Goldfarb & Tim Welsh Create AutismAid to Unify and Support the Autism Community". The Tommy Foundation. Retrieved 29 April 2012.
- "Georgetown Law - Classmates Search". Georgetown University Law Center. Retrieved 16 April 2012.
- "Alumni Affairs: 1984 Facebook". Georgetown University Law Center. Retrieved 16 April 2012.
- "XM Radio Announces $450 Million Financing Package". XM Satellite Radio. Retrieved 9 May 2012.
- "XM RADIO CLOSES $475 MILLION FINANCING PACKAGE". XM Satellite Radio. Retrieved 9 May 2012.
- "BayStar Capital Featured in Private Equity Week Article". Private Equity Week. Retrieved 9 May 2012.
- "Lawrence Goldfarb Contributes Chapter to New Bloomberg Press PIPEs Book". LRG Capital Group. Retrieved 9 May 2012.
- "LRG Capital Group Founder and CEO Lawrence Goldfarb Retires From the Company to Focus on Philanthropic Foundation and Other Interests". LRG Capital. Retrieved 13 January 2012.
- "About Us". AutismAid. Retrieved 29 April 2012.
- Pressey, Debra. "Organizers plan to raise money for community autism agencies". The News-Gazette. Retrieved 29 April 2012.
- "Larry Goldfarb & Tim Welsh Create AutismAid". MarketWire. Retrieved 13 March 2012.
- "LRG Capital CEO named Father of Year". Marin Scope. Retrieved 3 April 2012.
- "YTA Staff and Board". Youth Tennis Advantage. Retrieved 3 April 2012.
- "142 Throckmorton Theatre Announces New Board Members". Mill Valley Patch. Retrieved 3 April 2012.
- "Marin History Museum Announces New Board Members". San Rafael Patch. Retrieved 3 April 2012.
- "Company Bios". The Joe Toucan Diabetes Project. Retrieved 3 April 2012.
- "Larry Goldfarb Elected to the Easter Seals Board of Directors" (PDF). Easter Seals. Retrieved 3 April 2012.
- "SEC Charges Bay Area Hedge Fund Manager With Misappropriating "Side Pocketed" Assets". SEC. Retrieved 2 March 2011.
- SEC. "Securities and Exchange Commission v. Lawrence R. Goldfarb et al., CV-11-0938-DMR (U.S. District Court for the Northern District of California, filed March 1, 2011)". SEC. Retrieved 13 January 2012.
- News account of Civil Contempt judgement
- Naymz - Lawrence Goldfarb
- LRG Capital CEO named Father of Year
- Lawrence "Larry" Goldfarb Launches Blog to Create Philanthropic Hub for Autism