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Mark Gallogly

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Mark Gallogly
Personal details
Born (1957-01-18) January 18, 1957 (age 67)
EducationUniversity of Notre Dame (BA)
Columbia University (MBA)

Mark T. Gallogly (born 1957) is an American private equity investor,[1] philanthropist, climate change advocate[2] and major donor to Democratic candidates and causes.[3][4] He co-founded and served as Managing Principal of the private investment firm Centerbridge Partners until his retirement in 2020. Under the Obama administration, he served on two presidential advisory councils.

Early life and education

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Gallogly was born on January 18, 1957, in Providence, Rhode Island, to Florence E. (Giblin) Gallogly and Edward P. Gallogly. Gallogly is the eighth of eleven children. His parents were each the children of Irish immigrants and were first-generation college graduates. Gallogly's father served as Lieutenant Governor of Rhode Island, United States Attorney for the District of Rhode Island and Chief Judge of the Rhode Island Family Court.[5][6] Gallogly graduated with honors from the University of Notre Dame in 1979. As an undergraduate, he also studied at Sophia University in Tokyo. He received an MBA from Columbia Business School in 1986.[7]

Career

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Gallogly spent his early career in the Acquisition Finance Group at Manufacturers Hanover Trust Company.[8] He received his MBA at Columbia Business School through a professional development program offered by Manufacturers Hanover.[9] He joined the Blackstone Group in 1989, where he rose to become head of private equity and served on the firm's management and investment committees.[10]

In 2005, Gallogly co-founded Centerbridge Partners with Jeff Aronson. The name of the firm originated with the concept of bridging Gallogly's private equity expertise and Aronson's credit investing background.[11] In 2007 he helped create the Centerbridge Foundation with a stated mission to increase access to educational and economic opportunities in the communities where Centerbridge Partners has offices.[12]

In 2015 Gallogly and his wife, Lise Strickler, founded Three Cairns Group, a multi-strategy firm engaged in addressing the climate crisis through venture investing, philanthropy and public policy advocacy.[2][13] Three Cairns Group's work also includes equitable access to education, mental health services, and careers.[14]

Public Service

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Under President Barack Obama, Gallogly served on the President's Economic Recovery Advisory Board, chaired by Paul Volcker, from 2008 to 2010, and the Council on Jobs and Competitiveness, chaired by Jeff Immelt, from 2010 to 2012. Gallogly was active on the regulatory reform working group of the Jobs Council.[15] In 2021, he joined a climate team formed by U.S. Special Presidential Envoy for Climate John Kerry[16] to engage the private sector in decarbonization efforts. He left after helping establish connections with major financial institutions.[17]

Board seats and council memberships

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  • Vice-chair of the Board of Trustees of Columbia University[7]
  • Columbia Climate School Board of Advisors[18]
  • Member of the World Bank Private Sector Investment Lab[19]
  • Member of the Advisory Council for the Hamilton Project, an economic policy initiative of the Brookings Institution[20]
  • Member of the Council on Foreign Relations[21]

Personal life

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Gallogly married Lise Strickler, a climate and environmental advocate,[14] in September 1987.[22] Gallogly and Strickler met in the MBA program at Columbia Business School.[9]  They have three daughters and reside in New York City.[7] As of 2021, Gallogly and his wife had donated nearly $12 million to Democrats since 1992, including $5 million to Joe Biden and other Democrats in the 2020 United States elections.[23] He has been a supporter of the Joe Biden 2024 presidential campaign, hosting a campaign fundraiser at his Central Park West home in 2023.[24]

References

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  1. ^ Louch, William (2019-11-14). "Centerbridge Co-Founder Mark Gallogly Prepares to Retire". WSJ. Retrieved 2023-06-29.
  2. ^ a b "Today's Climate Leaders". Columbia Business Magazine. Retrieved 2023-08-21.
  3. ^ "Jon Gray, Mark Gallogly Among Hosts for Biden Fundraisers in NYC". Bloomberg.com. 2023-06-28. Retrieved 2023-06-29.
  4. ^ Schwartz, Brian (2020-11-02). "Joe Biden's fundraiser list includes more than 30 executives with Wall Street ties". CNBC. Retrieved 2023-06-29.
  5. ^ "Edward P. Gallogly Obituary". The New York Times. 1995-04-22. Retrieved 2020-03-16.
  6. ^ "La Salle Academy Hall of Fame Providence, RI". www.lasalle-academy.org. Retrieved 2020-12-24.
  7. ^ a b c "Columbia University Office of the Secretary Mark Gallogly, Vice Chair". Columbia University. Retrieved 2023-08-21.
  8. ^ Carey, David; Morris, John E. (2012). King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone. Currency. p. 215. ISBN 978-0307886026.
  9. ^ a b "Mark T. Gallogly '86: Distinguished Leadership in Business Award". Columbia Business School. Retrieved 2020-05-15.
  10. ^ "Freedom Recapitalization Completed". Blackstone Press Release. 2004-05-18. Retrieved 2020-04-07.
  11. ^ Sender, Henny (2006-12-15). "Centerbridge Over Troubled Waters: New Fund Mixes Buyouts, Bad Debt". The Wall Street Journal. Retrieved 2020-04-07.
  12. ^ "Centerbridge Foundation". Impact Space. Retrieved 2020-04-08.
  13. ^ Louch, William (November 14, 2019). "Centerbridge Co-Founder Mark Gallogly Prepares to Retire". The Wall Street Journal. Retrieved 2019-12-10.
  14. ^ a b "Lise Strickler - EANY". Environmental Advocates New York. Retrieved 2020-12-24.
  15. ^ "President Obama Speaks to the Council on Jobs and Competitiveness". YouTube. 2012-01-17. Archived from the original on 2021-12-21. Retrieved 2020-05-15.
  16. ^ Miao, Hannah (2021-03-04). "Biden climate envoy John Kerry talking to banks, asset managers about mobilizing capital for clean energy". CNBC. Retrieved 2023-06-29.
  17. ^ Hans, Nichols (2021-06-30). "Scoop: Wall Street vet leaving Kerry's climate team". Axios. Retrieved 2023-08-21.
  18. ^ "Columbia University Task Force On Climate: Report" (PDF). Columbia University. 2019-12-01. Retrieved 2020-12-24.
  19. ^ "CEOs and Chairs to Join World Bank Private Sector Investment Lab". World Bank. 2023-07-10. Retrieved 2023-08-21.
  20. ^ "Advisory Council, Mark T. Gallogly". The Hamilton Project. Retrieved 2020-03-30.
  21. ^ "CFR Membership Roster". Council on Foreign Relations. Retrieved 2020-03-30.
  22. ^ "Lise Strickler Becomes Bride". The New York Times. 1987-09-13. Retrieved 2020-12-29.
  23. ^ Rood, Justin. "The Biden administration has named a secretive private equity mogul with significant investment interests in climate-related businesses to help shape the US's response to the climate crisis". Business Insider. Retrieved 2024-01-31.
  24. ^ "Centerbridge Co-Founder Gallogly to Host Biden Fundraiser in NYC". Bloomberg.com. 2023-06-29. Retrieved 2024-01-31.
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