RICHARD "MICK" McGUIRE
Richard “Mick” McGuire founded Marcato Capital Management in 2010 and led the firm as Portfolio Manager throughout its history. Under his leadership, Marcato ran public and private engagements with more than twenty companies, with McGuire or other Marcato partners personally joining the board of directors of Buffalo Wild Wings, Terex Corporation, and NCR Corporation as part of the firm’s engagement.
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McGuire was a frequent voice in financial media and a sought-after conference speaker, appearing regularly on CNBC’s Fast Money Halftime Report and Delivering Alpha, and a regular speaker at the Sohn Conference San Francisco, Active-Passive Investor Summit, Value Investing Congress, and similar investment conferences. Institutional Investor named McGuire a “Hedge Fund Rising Star,” and later awarded Marcato the “Emerging Manager of the Year” and multiple subsequent nominations for "Activist Hedge Fund of the Year." Absolute Return Alpha named Marcato the U.S. Equity Fund of the Year in 2013.
ABOUT
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Marcato Capital Management LP was a San Francisco–based, investment firm. Its flagship fund, Marcato International, Ltd., launched on October 1, 2010; a related small-cap vehicle, Marcato Encore, followed later. Marcato described its approach as that of a concentrated, value-added investor in the equities of middle-market companies — typically with market capitalization below $10 billion.
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The firm’s process sought to identify catalyst-rich, undervalued opportunities and engage directly with the management and boards of those companies to improve their investment profile.
2010-2019
History
2010
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Marcato launches
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Mick McGuire founds the firm in San Francisco; the flagship fund, Marcato International, Ltd., launches October 1, 2010, with seed capital from The Blackstone Group.
2012
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First industry recognition
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Institutional Investor names Mick McGuire a “Hedge Fund Rising Star” and Absolute Return names Marcato International its U.S. Equity Fund of the Year. Early successes include catalyzing the separation and spin-off of Alexander & Baldwin / Matson and a shareholder-friendly dividend policy at DineEquity.
2013
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Emerging Manager of the Year
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Marcato is named Institutional Investor’s Emerging Hedge Fund Manager of the Year as well as S&P Capital IQ’s “Best Emerging Manager” and appears on Barron’s and Bloomberg’s hedge fund rankings for the first time. Activism accelerates, successfully engaging with companies including Lear Corporation and Commonwealth REIT .
2014
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Sotheby's, Lifetime Fitness, IHG, NCR
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Marcato publicly presses Sotheby's resulting in a change of leadership, board composition, and an improved expense and capital allocation policies. Marcato successfully persuades health-club operator Lifetime Fitness to consider alternative capital allocation policies resulting in the successful sale of the business. Marcato pushes InterContinental Hotels Group. to participate in industry consolidation. McGuire joins the board of NCR Corporation. The Hedge Fund Journal names McGuire to its “Tomorrow's Titans” list.
2015
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BNY Mellon, Launch of Marcato Encore
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Marcato discloses stake in Bank of New York Mellon, it’s largest activist investment to date, supported with capital from its first dedicated co-investment vehicle. Marcato launches Marcato Encore to target investment opportunities with market capitalizations below $2 billion. McGuire is a finalist for Institutional Investor’s Activist Hedge Fund Manager of the Year
2016
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Buffalo Wild Wings, Terex and others
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Marcato launches its engagement with Buffalo Wild Wings and Terex, both resulting in board appointments and successful investment outcomes. Marcato Encore enjoys early success in catalyzing the sale of Epiq Systems. Marcato Encore is later recognized as the Allocator Investors Choice Awards’ Emerging Fund of the Year and Emerging Event Driven Fund of the Year.
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2017
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The most public year; BWW and Deckers proxy contests
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Marcato wins a proxy contest at Buffalo Wild Wings, leading to a change in CEO and ultimate sale of the Company; Reveals new position at Ugg and Hoka shoe-maker. Deckers Outdoor calling for a strategic overhaul. Marcato runs proxy contest, catalyzes a CEO change and updated strategic plan focused on expense management and capital discipline. Both companies enjoy meaningful market value appreciation. Marcato Encore drives change at Rent-A-Center.
2018
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Continued Industry Recognition
Marcato is again named a finalist for Institutional Investor’s Activist Hedge Fund Manager of the Year.
2019
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Firm winds down
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Marcato returns outside capital at year-end, closing its doors after nearly a decade of activist investing.