March 26, 2002
"The Cypress Group names Jonathan F. Foster Managing Director"
The Cypress Group, a New York-based private equity firm, announced today that it has named Jonathan F. Foster a Managing Director of the firm and a Member of the Investment Committee.
"I am very pleased to welcome Jon Foster to Cypress," said James A. Stern, Chairman of The Cypress Group. "Jon brings substantial experience both in finance and as an operating executive to his role at Cypress, a distinctive combination. During his career at Lazard, he led that firm's initiatives with private equity firms, giving him a thorough knowledge of the environment in which Cypress operates. We are pleased to announce that Jon will be heading a new industry group for us, focusing on investments in the general industrial and business services sectors," said Mr. Stern.
Prior to joining Cypress, Jon Foster, 41, was a Senior Managing Director in the Mergers and Acquisitions Group at Bear, Stearns & Co. Inc., where he led the industrial products and services effort. Mr. Foster served as Executive Vice President – Chief Operating Officer and Chief Financial Officer of Toysrus.com during 2000, where his responsibilities included logistics, planning, customer service, finance, human resources and special projects. He was a key member of the team that built Toysrus.com into a leading e-commerce company and completed a unique strategic alliance between the company and Amazon.com.
From 1989 until 2000, Mr. Foster was an investment banker at Lazard Frres & Co., ultimately as a Managing Director, where he worked on domestic and cross-border mergers, acquisitions and divestitures as well as leveraged buyouts, restructurings and equity and high yield debt offerings. Mr. Foster began his career as an executive in the Corporate Finance Department at Morgan Grenfell Group and as a Staff Accountant in the audit and international tax departments of Price Waterhouse. He graduated from Emory University in 1984 with a B.B.A. in Accounting, and earned a Msc. in Accounting and Finance from the London School of Economics in 1985.
The Cypress Group manages two private equity funds with more than $3.5 billion in commitments. Cypress invests in privately negotiated transactions, targeting operating businesses and investing with management to foster continued growth. Cypress portfolio companies include Cinemark USA, Inc.; Amtrol Holdings, Inc.; Scotsman Holdings; WESCO International, Inc.; ClubCorp, Inc.; Danka Business Systems PLC; MedPointe Capital Partners, L.L.C; and MontpelierRe Holdings Ltd.