Daily News: April 3, 2015

Tiger Relocates NY Office, Designates as Headquarters

Tiger Capital Group has relocated its New York office and formally designated the new site as its first corporate headquarters.

The international asset valuation, advisory and disposition firm moved to 99 Park Avenue from 708 Third Avenue, where it had operated for five years. Office team members include executives and support staff involved in business development, appraisals and dispositions of retail and wholesale consumer product inventories and industrial assets, auctions, and industry analysis. In addition to New York, Tiger has major offices in Boston and Los Angeles, a business development office in San Francisco and, through Australian co-venture Tiger Asset Group, a location in Sydney.

Like many companies with multiple locations, Tiger had been operating without a formal headquarters. The move to establish New York as its flagship office comes at a time when Tiger is embarking on a growth plan aimed at doubling the company’s size within five years.

“Given our strong ties to the international financial community, New York was the logical choice for our first corporate headquarters,” said Daniel Kane, principal and managing member, who co-founded the firm in 2001. Though based in Los Angeles, the Brooklyn native maintains a residence in Manhattan and splits his time between Los Angeles and New York.

Tiger COO Michael McGrail, who had been based in Boston, will now divide his time between the New York and Boston offices. McGrail joins a New York team that includes such senior Tiger executives as longtime office leader Jack Rapp, executive managing director; Melissa Coopersmith, managing director, national sales; Andy Babcock, director of inventory Strategies; Fred Raccosta, Director of Business Development for New York, New Jersey and Pennsylvania; and Robert Kowal, director of wholesale liquidations.

McGrail pointed to New York’s ranking as the world’s top financial center in the latest Global Financial Centres Index from ZTen Group. “We see a lot of our growth emanating from this market,” he said, “whether it be asset appraisals on behalf of banks and other secured lenders; advisory work for private equity firms, investment banks, and hedge funds; co-ventures with the financial community on debt capital opportunities; or asset dispositions involving retail, wholesale or industrial companies that are restructuring or conducting strategic closures. New York is the center for so many of these activities and Tiger is proud to plant its flag here.”