Capstone Capital
LLC 238 Byram Shore Road Greenwich, CT 06830 609-731-4063 Capstone Capital, LLC was
founded in 2003 by Randall A. Hack to invest in private companies, with a
special focus on wireless telecommunications. From 2003 through 2014 Capstone invested
both for its own account and in partnership with Berkshire Partners, a
Boston-based private equity firm with over $8 billion under management. Mr. Hack served as an Advisory Director of
Berkshire from 2002-2014. In that
capacity he assisted Berkshire in identifying and assessing private companies
seeking to raise capital. Background: Mr. Hack began his career in
1972 with Corporate Property Investors, a private REIT which invested in
commercial real estate throughout the U.S.
In 1979 he founded RH Development Company to acquire and develop
properties in Connecticut and New Jersey.
RH Development’s principal activity was the development of a major
light industrial and office park at Exit 8A of the New Jersey Turnpike. Mr. Hack sold his interest in RH
Development in 1988, and it operates today as Matrix Development
Company. From 1990 through 1994 Mr. Hack
served as the President of The Princeton University Investment Company, which
oversees Princeton University’s endowment and currently has $22 billion of
assets under management. In that role
Mr. Hack built a team of two-dozen professionals who conceived and
implemented a series of global investment initiatives in such areas as
domestic and international equities, hedge funds, private equity, venture
capital, and other private market assets such as real estate, oil and gas
holdings, and timber. In 1995, with the support of
Princeton University’s Board of Trustees, Mr. Hack founded Nassau Capital,
LLC, a private investment firm which he served as
Senior Managing Director. Nassau
Capital and its principals invested in privately held companies and assets
solely on behalf of Princeton University’s endowment. Over a period of six years Nassau invested
in one hundred and fifty specialized limited partnerships, both domestically
and internationally, in such areas as private equity, venture capital, real
estate, timber and energy assets. The
market value of Nassau’s aggregate positions in these investment funds
exceeded $2 billion at the peak of this investment program. During this same period, Nassau also
invested over $500 million directly in three-dozen private companies in these
same specialized asset classes, producing a gross IRR of 31% over the twelve
years from inception of this direct investment program. Mr. Hack is a 1969 summa cum laude graduate of Princeton
University and a member of Phi Beta Kappa.
In 1972 he received his MBA from Harvard University. He has served on numerous corporate boards,
both private and publicly traded, including Crown Castle International [NYSE:
CCI], the second largest owner and operator of cellular towers in the United
States. Mr. Hack also serves as a
Director of Tower Development Corp (“TDC”), a private company created in 2008
with backing from Berkshire Partners. TDC
operates jointly with the National Site Development Division of Crown Castle
International. Mr. Hack has served or
currently serves on several non-profit boards, including The Princeton
Medical Center, Deerfield Academy, The Princeton Environmental Institute,
Climate Central, and The Quebec Labrador Foundation.
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