LOS ANGELES, Aug. 19, 2019 /PRNewswire/ -- PAR21 (www.par21.net), a new Los Angeles-based proprietary deal sourcing firm, has formally launched its operations. PAR21 caters to opportunistic, value-focused investors by leveraging proprietary information and connecting them with stressed and distressed situations. The firm was founded by Jack Spivak, former Managing Director at an opportunistic private equity firm. 

Building on its long-standing relationships with traditional and alternative lenders, PAR21 identifies proprietary opportunities for institutional money managers and family offices to make control or non-control investments. PAR21 is uniquely positioned to create value for investors given the current phase of the economic cycle and Mr. Spivak's proven track record of sourcing stressed and distressed opportunities across the United States and Canada. 

Throughout his career in private equity, Mr. Spivak consistently sourced proprietary deals across industries and territories, ranging in size from negative EBITDA to $75 million. He launched the PE firm's proprietary sourcing efforts in the West in 2014, then expanded and led the initiative across the United States and Canada.

Prior to entering private equity in 2014, Mr. Spivak had a decade-long progressive career with Bank of America Merrill Lynch as an SVP and Senior Credit Officer. Over the years, Mr. Spivak's responsibilities included sourcing, structuring, and approving new and existing credit relationships throughout the Western United States. Prior to joining Bank of America, Mr. Spivak spent five years at JPMorgan Chase & Co. and its predecessor, Bank One, in the Special Assets Group, where he restructured sole and syndicated credit facilities, and led note offerings to the secondary market.

PAR21 is headquartered in Los Angeles, with operations spanning the United States and Canada. For more information, please visit www.par21.net. 

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SOURCE PAR21, LLC