Robert E. Grady

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Robert E. Grady
Robert Grady at the NVCA Annual Meeting.png
Born (1957-10-22) October 22, 1957 (age 61)
Alma materHarvard University (BA)
Stanford University (MBA)
Political partyRepublican

Robert E. Grady (born October 22, 1957)[1][2] is a Wyoming-based businessman, venture capitalist and private equity investor, and a former senior-level public official. Most recently, he has been a partner at Gryphon Investors, a middle-market private equity firm,[3] and a director of multiple public and private companies. He has been active in Wyoming over many years as an economic advisor to former Governor Matt Mead[4]; a board member of the Jackson Hole Mountain Resort; the Chairman of the St. John’s Hospital Foundation; a member of Wyoming’s State Banking Board[5]; a board member at the Jackson Hole Land Trust, the Wyoming Business Alliance, and the Jackson Hole One Fly Foundation; the former Finance Chairman of the Wyoming Republican Party; the co-founder of the Jackson Hole Technology Partnership and Global Technology Summit[6]; a frequent speaker and adviser to up-and-coming small businesses; and a volunteer coach for Jackson Youth Hockey.[7]

Business career[edit]

Grady is currently a partner at Gryphon Investors, a middle-market private equity fund, where he heads the firm's Industrial Growth Group. He has been cited in the press as having led Gryphon's investments in Potter Electric Signal Corporation, Transportation Insight, Nolan Transportation Group, and Washing Systems, which was sold to Japan's Kao Corporation in 2018. [8][9][10]

After the 2016 election, Grady was mentioned in numerous press accounts as a candidate for a Cabinet position in President Donald J. Trump's Administration, but he reportedly declined to interview for any positions as Gryphon had just raised a new $1 billion fund in late 2016.[11][12]

Prior to joining Gryphon, he was a partner for five years at the private equity fund-of-funds Cheyenne Capital[13], which invested in private equity funds and in private transactions for the State of Wyoming’s Permanent Funds. According to Preqin, Cheyenne Capital had a top quartile investment track record and Wyoming’s public reports show it was one of the state’s top-performing managers[14]. For nearly a decade before that, he was a prominent partner at the Carlyle Group,[15], one of the world's largest alternative asset managers,[16] where he served as Managing Director, member of the Management Committee, and head of Venture and Growth Capital. During his tenure at Carlyle, Grady also served for six years as a director and as Chairman (2006 to 2007) of the National Venture Capital Association (“NVCA”),[2] which represents more than 400 U.S. venture capital firms. He was a director of several Carlyle companies, including Blackboard Inc. (which executed a successful IPO in 2004, and was later sold to Providence Equity),[7] AuthenTec (which executed a successful IPO in 2007, and was later sold to Apple Inc.),[2] Wall Street Institute (sold to Pearson PLC),[7] , eScreen (sold to Alere Corp.), and Viator (sold to Trip Advisor).

In the 1990s, Grady was a Managing Director and member of the Management Committee at Robertson Stephens[17], an investment bank focused on growth companies in technology and healthcare, that was acquired by Bank of America and subsequently by BankBoston (which itself was acquired by Fleet and then Bank of America).

Today, Grady is a director of public companies Maxim Integrated Products (Nasdaq: "MXIM"),[2] one of the world's leading producers of analog semiconductors; Stifel Financial (NYSE: "SF"),[18] a major brokerage and asset management firm which acquired Thomas Weisel Partners Group in 2010; and of the privately-held Jackson Hole Mountain Resort.

Personal background[edit]

Grady was born in Orange, New Jersey[1] and grew up in Livingston, New Jersey,[19] where he attended Livingston High School, graduating as part of the class of 1975.[1] He graduated cum laude from Harvard College, where he edited the Harvard Crimson.[20] Grady earned a Master of Business Administration from the Stanford Graduate School of Business,[20] where he later served on the faculty for over a decade as a Lecturer in Public Management.[21] His courses for second-year MBAs focused on environmental and health care regulation and on “Investing in Highly Regulated Industries”.

A venture capital industry leader and growth company expert, Grady has appeared frequently in the national media as a spokesman for pro-growth economic policies and as an advocate for strategies to increase the economic competitiveness of the United States. He has published numerous articles and has appeared in the Wall Street Journal, TIME magazine, the Washington Post, the Los Angeles Times, the San Francisco Chronicle and other publications.[22][23][24] He is described in Jeffrey Birnbaum’s The Money Men as a “highly successful” investment banker.[25] Grady is a frequent and popular commentator, who has appeared on CNBC, Fox Business News, ABC’s Nightline, and other major media programs[26][27][28] as a spokesman for growth-oriented economic policies, streamlined regulation, and generally conservative fiscal positions.[21]

In the non-profit world, Grady has chaired the Board of the St. John's Hospital Foundation in his home town of Jackson, Wyoming[29], and is a member of the Investment Committee of the Community Foundation of Jackson Hole.

Political background[edit]

Grady began his career as legislative assistant and then chief of staff for the late New Jersey Republican Congresswoman Millicent Fenwick.[30] He went on to serve as communications director for former New Jersey Republican Governor Thomas Kean.[31] Grady was a speechwriter and policy adviser for George H.W. Bush during the successful 1988 Bush-Quayle Presidential campaign,[31] and served in the White House for Bush as Associate Director of the Office of Management and Budget (“OMB”) for Natural Resources, Energy and Science (1989–1991);[30] Executive Associate Director of OMB;[2] and as Deputy Assistant to the President (1991–1993).[7] He was widely known for advising Bush in the crafting of the Clean Air Act Amendments of 1990, which included an innovative system to allow trading of sulfur dioxide emissions credits to help reduce sulfur dioxide emissions at less cost, and for helping to shepherd that legislation through Congress.[30]

He also was one of the President’s top advisors on science and technology, R&D, energy and natural resources, and budget issues,

Noted early in his career by Newsweek as “one of three thirty-somethings to watch” (along with Condoleezza Rice and Robert Zoellick) and the “polished No. 2” at the Office of Management and Budget ("OMB") in George H.W. Bush's White House,[32] Grady has emerged over the years as an adviser to various leading Republican candidates and public officials. Grady has served as a high level volunteer economic adviser to a number of Republican political figures, including then-presidential candidates George W. Bush and Mitt Romney, and Governors Pete Wilson and Arnold Schwarzenegger of California, Chris Christie of New Jersey, and Matt Mead of Wyoming.

In 2001, President George W. Bush appointed Grady to be a member of the Advisory Committee on Trade and Policy Negotiations (ACTPN)[33] and he was appointed by the Administrator of NASA during the George W. Bush administration to be a member of the NASA Advisory Council's Task Force on the Cost and Management of the International Space Station.[20]

More recently, Grady was a close adviser to his childhood friend Chris Christie in Christie’s efforts both as Governor of New Jersey and as a candidate for President of the United States in 2016. Grady served as co-chairman and member of Christie's Transition Task Force on Budget and Taxes, as the author of his Inaugural Address and his annual state-of-the-state and budget addresses to Joint Sessions of the Legislature,[34] as Chairman of the New Jersey State Investment Council, which oversees the state's $80 billion pension plan, and as a policy advisor and speechwriter for his campaign for the Republican presidential nomination. Grady’s track record as chairman of the Investment Council was hailed by, among others, the state's Treasurer, Andrew Eristoff, who praised Grady for posting gains over the four years from FY 2011–2014 of over $36 billion, some $13 billion above the pension fund's actuarily-assumed rate of return.[35] When Governor Christie began his run for the Presidency, Grady was reported as having coached Christie for the presidential debates as well as being the author of detailed and well-received policy speeches on economic growth, entitlement reform and energy given by Christie. [36]

In Wyoming, he has been increasingly active as a frequent speaker on the economy, mentor to start-up companies, and someone who has helped to organize and support such economic growth initiatives as the Jackson Hole Technology Partnership and Global Technology Summit, Silicon Couloir, and Governor Mead’s ENDOW program[37].

References[edit]

  1. ^ a b c Manual of the Legislature of New Jersey, Volume 202, p. 482. J.A. Fitzgerald, 1986. Accessed August 5, 2019. "Director of Communications Robert E. Grady, Livingston - Mr. Grady was born Oct. 22, 1957, in Orange. He attended Livingston High School and is a 1979 honors graduate of Harvard University, where he was an editor of the daily Harvard Crimson, and was a teaching fellow in international relations."
  2. ^ a b c d e "Robert E. Grady Profile". Forbes. Retrieved July 24, 2010.
  3. ^ Assets, Alt (February 26, 2015). "Ex-Carlyle Growth, VC Head Joins Gryphon Investors". Retrieved February 26, 2015.
  4. ^ "Coal Connections: Wyoming-Chinese delegation tout solidarity on cleaner coal". WyoFile. June 26, 2012. Retrieved May 22, 2019.
  5. ^ "State Banking Board - Department of Audit - Division of Banking". wyomingbankingdivision.wyo.gov. Retrieved May 22, 2019.
  6. ^ "Wyoming Global Technology Summit". Jackson Hole Tech Partnership. Retrieved May 12, 2019.
  7. ^ a b c d Geron, Tomio (February 17, 2010). "Ex-Carlyle Partner Grady Seeks Opportunity in Wide Open Spaces". The Wall Street Journal. Retrieved July 24, 2010.
  8. ^ "Potter Electric Signal Co. Acquired by Private Equity Firm Gryphon Investors". Security Sales & Integration. December 20, 2017. Retrieved September 18, 2018.
  9. ^ "Gryphon Investors Buys Majority Stake in Transportation Insight". Transport Topics. September 5, 2018. Retrieved September 18, 2018.
  10. ^ "https://www.bizjournals.com/cincinnati/news/2018/08/10/kao-buys-cincinnati-commercial-laundry-business.html". www.bizjournals.com. Retrieved September 18, 2018. External link in |title= (help)
  11. ^ "Meet Trump's Cabinet-in-waiting". POLITICO. Retrieved September 18, 2018.
  12. ^ Lim, Dawn (December 15, 2016). "Robert Grady, Floated for Trump's Cabinet, Is Staying Put at Gryphon". Wall Street Journal. ISSN 0099-9660. Retrieved September 18, 2018.
  13. ^ Geron, Tomio (February 17, 2010). "Ex-Carlyle Partner Grady Sees Opportunity In Wide Open Spaces". WSJ. Retrieved May 22, 2019.
  14. ^ [statetreasurer.wyo.gov/assets/reports/AlternativeInvestmentSupplementalDisclosure033119.pdf "Wyoming State Treasurer's Office: Investment Performance Analysis for Period Ending March 31, 2019"] Check |url= value (help) (PDF).
  15. ^ No Author (February 2010). "Interview with Robert Grady: Putting Capital Where it Grows". Forbes/Wolfe Emerging Tech Report. 9 (2).
  16. ^ McNichol, Dunstan (May 11, 2010). "New Jersey's Christie Names Former Carlyle Partner to Investment Council". Bloomberg. Retrieved July 24, 2010.
  17. ^ NEWS, BLOOMBERG. "BankBoston to buy Robertson Stephens Unit of BankAmerica will bring $800 million; Mergers". baltimoresun.com. Retrieved May 22, 2019.
  18. ^ Thomas Weisel Partners Group, Inc. "Robert Grady Joins Thomas Weisel Partners' Board of Directors". Yahoo! Finance. Archived from the original on December 16, 2012. Retrieved July 24, 2010.
  19. ^ Hester, Tom, Sr. "Christie names Richard Bagger, Robert E. Grady to chair a task force on New Jersey’s fiscal challenges" Archived July 14, 2011, at the Wayback Machine, NewJerseyNewsroom.com, November 12, 2009. Retrieved February 24, 2011. "Christie named former Republican legislator Richard H. Bagger of Westfield, an executive at Pfizer Inc and a former chairman of the lower house's Appropriations Committee, and Robert E. Grady, a Livingston native, former aide to Gov. Thomas Kean and former top official at the White House Office of Management and Budget (OMB) as co-chairmen of the task force."
  20. ^ a b c Symbio Group (August 19, 2008). "Robert E. Grady Joins Symbio's Board of Directors". Marketwire. Retrieved July 24, 2010.
  21. ^ a b Grady, Robert (April 21, 2004). "TESTIMONY OF ROBERT E. GRADY MANAGING DIRECTOR, CARLYLE VENTURE PARTNERS, and MEMBER OF THE BOARD OF DIRECTORS, NATIONAL VENTURE CAPITAL ASSOCIATION ("NVCA") BEFORE THE SUBCOMMITTEE ON CAPITAL MARKETS, INSURANCE AND GOVERNMENT-SPONSORED ENTERPRISES COMMITTEE ON FINANCIAL SERVICES U.S. HOUSE OF REPRESENTATIVES" (PDF). Retrieved July 24, 2010.
  22. ^ Grady, Robert E. (April 26, 2007). "The Sarbox Monster". Wall Street Journal. Retrieved June 25, 2010.
  23. ^ Grady, Robert E. (December 22, 2013). "Obama's Misguided Obsession With Inequality". Wall Street Journal. ISSN 0099-9660. Retrieved May 22, 2019.
  24. ^ Grady, Robert E. (May 22, 2009). "Light Cars Are Dangerous And Other Unintended Consequences of Strict Fuel Economy Standards". Wall Street. Archived from the original Check |url= value (help) on February 24, 2018. Retrieved June 24, 2010.
  25. ^ Birnbaum, Jeffrey H. (2000). The Money Men: The Real Story of Fund-raising's Influence on Political Power in America. Crown. p. 287.
  26. ^ Grady, Robert E. (May 10, 2010). "Expert:Greek Debt Crisis a Wakeup Call for U.S.,Cheyenne Capital Fund Managing Director Robert E. Grady Argues the Greek Crisis will Spread to the U.S.,". Fox Business News. Retrieved June 24, 2010.
  27. ^ Grady, Robert E. (July 12, 2010). "CNBC,Street Signs with Erin Burnett,Is it Still Smart to Invest in America? Robert Grady, of Cheyenne Capital Shares his Insight". Retrieved June 24, 2010.[dead link]
  28. ^ "Wyoming Chronicle, Bob Grady on the Economy". Wyoming PBS WHYY. February 26, 2010. Archived from the original on July 23, 2011. Retrieved June 24, 2010.
  29. ^ "About". St. John's Hospital Foundation. Retrieved May 22, 2019.
  30. ^ a b c Hoffman, David. "Bush Names USIA Director, Fills Slots at OMB; President-Elect Digs Into Network of Old Friends, Political Allies for Key Positions". The Washington Post. Retrieved July 24, 2010.
  31. ^ a b McAllister, Bill. "Speech Writer Named a Senior Adviser". The Washington Post. Retrieved July 24, 2010.
  32. ^ "On the Move". Newsweek. July 17, 1989.
  33. ^ "Membership: Advisory Committee for Trade Policy and Negotiations (ACTPN)" (PDF). p. 14. Archived from the original (PDF) on July 17, 2011. Retrieved July 24, 2010.
  34. ^ Auditor (June 13, 2010). "Disclosing donors; saving NJN; new Investment Council chief". blog.nj.com. Retrieved May 31, 2013.
  35. ^ The Star-Ledger (September 12, 2014). "Criticism of pension fund returns off-base: Guest opinion". blog.nj.com. Retrieved September 15, 2014.
  36. ^ http://www.nj.com/politics/index.ssf/2014/12/late_at_night_christie_doing_2016_foreign_policy_homework.html
  37. ^ "Business leaders talk diversity, prosperity in Jackson". Buckrail - Jackson Hole, news. August 16, 2017. Retrieved May 22, 2019.