Robert E. Grady

Robert E. Grady (born October 1957) is an American venture capitalist, private equity investor, and former public official. He has worked at such leading investment firms as Robertson Stephens, The Carlyle Group, and Gryphon Investors, and for a number of elected officials, including former President George H.W.Bush and New Jersey Governors Tom Kean and Chris Christie.

Robert E. Grady
Personal details
BornOctober 1957
New Jersey, U.S.
Political partyRepublican
Alma materHarvard University (BA)
Stanford University (MBA)

Early life and education

Grady was born in New Jersey and grew up in Livingston, New Jersey, where he attended Livingston High School, graduating as part of the class of 1975. He graduated cum laude from Harvard College, where he was an editor of the Harvard Crimson.[1] Grady earned a Master of Business Administration from the Stanford Graduate School of Business, where he later served on the faculty for over a decade as a Lecturer in Public Management.

Career

Business

Grady is currently a partner at Gryphon Investors, a middle-market private equity firm, where he heads the firm's Industrial Growth Group. He has been cited in the press as having led Gryphon's investments in Pacur, Potter Electric Signal Corporation, Transportation Insight, Nolan Transportation Group, and Washing Systems, which was sold to Japan's Kao Corporation in 2018.[2][3][4][5]

Prior to joining Gryphon, he was a partner at the private equity fund-of-funds Cheyenne Capital, which invested in private equity funds and in private transactions for the State of Wyoming's Permanent Funds.[6] For nearly a decade before that, he was a prominent partner at The Carlyle Group, where he served as Managing Director, member of the Management Committee, and head of Venture and Growth Capital. He was a director of several Carlyle companies, including Blackboard Inc., AuthenTec (which executed an IPO in 2007, and was later sold to Apple Inc.), Wall Street Institute (sold to Pearson PLC), eScreen (sold to Alere Corp.), and Viator (sold to TripAdvisor). During his tenure at Carlyle, Grady also served for six years as a Director and as Chairman of the National Venture Capital Association, which represents more than 400 U.S. venture capital firms. In that role, Grady argued that the United States needed to adopt a strategy to enhance competitiveness, as the previously successful system of investing in higher education, allowing immigration for talented foreign born nationals, and ensuring access to the U.S. capital markets for growing companies was crumbling.[7][8] In 2011, he gave a TEDx talk on “The Care and Feeding of the Innovation Ecosystem”.[9]

In the 1990s, Grady was a Managing Director and member of the Management Committee at Robertson Stephens, an investment bank focused on growth companies in technology and healthcare, that was acquired by Bank of America and subsequently by BankBoston.[10]

Politics

Grady began his career as Legislative Assistant and later Administrative Assistant for former U.S. Representative Millicent H. Fenwick (R-NJ). He went on to serve as Director of Communications for former New Jersey Governor Thomas H. Kean. Grady was the chief speechwriter and a senior policy advisor for the George H. W. Bush 1988 presidential campaign, and later served in White House as Associate Director of the Office of Management and Budget ("OMB") for Natural Resources, Energy and Science (1989–1991), Executive Associate Director of the OMB, and Deputy Assistant to the President (1991–1993).[11] He was widely known for advising Bush in the crafting of the Clean Air Act Amendments of 1990.[12]

Noted early in his career by Newsweek as “one of three thirty-somethings to watch” (along with Condoleezza Rice and Robert Zoellick) and the “polished No. 2” at the Office of Management and Budget in George H. W. Bush administration, Grady has emerged over the years as an adviser to various leading Republican candidates and public officials. Grady served as an economic adviser to George W. Bush, Mitt Romney, California Governors Pete Wilson and Arnold Schwarzenegger, Chris Christie of New Jersey, and Matt Mead of Wyoming.[13]

In 2001, President George W. Bush appointed Grady to be a member of the Advisory Committee on Trade and Policy Negotiations, and he was later appointed by the Administrator of NASA to be a member of the NASA Advisory Council's Task Force on the Cost and Management of the International Space Station.[14]

Grady served as a volunteer adviser to his childhood friend Chris Christie during Christie's tenure as Governor of New Jersey and in the Chris Christie 2016 presidential campaign. Grady served as co-chairman and member of Christie's Transition Task Force on Budget and Taxes, as the author of his Inaugural Address and his annual state-of-the-state and budget addresses to Joint Sessions of the Legislature, as Chairman of the New Jersey State Investment Council, which oversees the state's $80 billion pension plan, and as a debate coach, policy advisor and speechwriter for his campaign for the Republican presidential nomination. When Governor Christie began his run for the Presidency, Grady was reported as having coached Christie for the presidential debates as well as being the author of detailed and well-received policy speeches on economic growth, entitlement reform and energy given by Christie.[15][16]

At the end of his service as chair of the New Jersey Investment Council (2010 to 2014), and after Governor Christie announced his candidacy for the Presidency, Grady became the focus of multiple articles in 2014 written by former Democratic activist, David Sirota. The reporting noted that the New Jersey Investment Council voted to invest $300 million with The Carlyle Group. Grady was formerly employed at Carlyle but had recused himself in writing from the investment decision.[17] Writing in Fortune magazine, Dan Primack, a leading expert on private equity, called Sirota's article a “smear” and pointed out that Grady “has no economic interests in any Carlyle investments made since his departure from the firm” and New Jersey had already invested in two different Carlyle funds before Grady even arrived at the New Jersey Investment Council.[18] Grady retired from the volunteer position on the New Jersey Investment Council in November 2014 to care for an ailing family member, after staying on longer than the agreed four years to ensure a smooth transition between CIOs.

In more recent years, in Wyoming, Grady has become increasingly active as a speaker on the economy, mentor to start-up companies, and organizer of economic growth initiatives.[19][20] He was a volunteer economic advisor to Wyoming Governor Matt Mead. Today, he is a member of the Wyoming State Banking Board, a Director of the Jackson Hole Mountain Resort, past Chairman of the St. John's Hospital Foundation, and a member of the Investment Committees of both the Community Foundation of Jackson Hole and of the Daniels Fund.[21]

Media

Grady has appeared frequently in the national media as a spokesman for pro-growth economic policies and as an advocate for strategies to increase the economic competitiveness of the United States. He has published numerous articles and has appeared in the Wall Street Journal, TIME, The Washington Post, the Los Angeles Times, and the San Francisco Chronicle.[22][23] Grady has appeared on CNBC, Fox Business News, and ABC’s Nightline as a spokesman for growth-oriented economic policies, streamlined regulation, and generally conservative fiscal positions.[24][25]

References
  1. "Robert E. Grady Profile - Forbes.com". May 19, 2010. Archived from the original on May 19, 2010. Retrieved May 12, 2020.
  2. "Gryphon Investors Hires Bob Grady as Partner". Gryphon Investors. Retrieved May 12, 2020.
  3. "Potter Electric Signal Co. Acquired by Private Equity Firm Gryphon Investors". Security Sales & Integration. December 20, 2017. Retrieved May 12, 2020.
  4. "Gryphon Investors Buys Majority Stake in Transportation Insight". Transport Topics. September 5, 2018. Retrieved May 12, 2020.
  5. www.bizjournals.com https://www.bizjournals.com/cincinnati/news/2018/08/10/kao-buys-cincinnati-commercial-laundry-business.html. Retrieved May 12, 2020. Missing or empty |title= (help)
  6. Geron, Tomio (February 17, 2010). "Ex-Carlyle Partner Grady Sees Opportunity In Wide Open Spaces". WSJ. Retrieved May 12, 2020.
  7. "THE CHANGING NATURE OF THE ECONOMY: THE CRITICAL ROLES OF EDUCATION AND INNOVATION IN CREATING JOBS & OPPORTUNITY IN A KNOWLEDGE ECONOMY" (PDF).
  8. Grady, Robert E. (April 26, 2007). "The Sarbox Monster". Wall Street Journal. ISSN 0099-9660. Retrieved May 6, 2020.
  9. Marniemi, J.; Parkki, M. G. (September 1, 1975). "Radiochemical assay of glutathione S-epoxide transferase and its enhancement by phenobarbital in rat liver in vivo". Biochemical Pharmacology. 24 (17): 1569–1572. doi:10.1016/0006-2952(75)90080-5. ISSN 0006-2952. PMID 9.
  10. NEWS, BLOOMBERG. "BankBoston to buy Robertson Stephens Unit of BankAmerica will bring $800 million; Mergers". baltimoresun.com. Retrieved May 22, 2019.
  11. Hoffman, David. "Bush Names USIA Director, Fills Slots at OMB; President-Elect Digs Into Network of Old Friends, Political Allies for Key Positions". The Washington Post. Retrieved July 24, 2010.
  12. "'PADS' WISE TO WAYS OF POWER".
  13. McAllister, Bill. "Speech Writer Named a Senior Adviser". The Washington Post. Retrieved July 24, 2010.
  14. "Membership: Advisory Committee for Trade Policy and Negotiations (ACTPN)" (PDF). p. 14. Archived from the original (PDF) on July 17, 2011. Retrieved July 24, 2010.
  15. http://www.nj.com/politics/index.ssf/2014/12/late_at_night_christie_doing_2016_foreign_policy_homework.html
  16. Auditor, The (June 13, 2010). "Disclosing donors; saving NJN; new Investment Council chief". nj. Retrieved May 12, 2020.
  17. https://pando.com/2014/04/16/new-jersey-pension-1/
  18. "REVEALED: Pando smears ex-Carlyle pro Bob Grady". Fortune. Retrieved May 7, 2020.
  19. "PBS Video". July 23, 2011. Archived from the original on July 23, 2011. Retrieved May 12, 2020.
  20. "Business leaders talk diversity, prosperity in Jackson". Buckrail - Jackson Hole, news. August 16, 2017. Retrieved May 22, 2019.
  21. "Bob Grady". St. John's Health Foundation. Retrieved May 12, 2020.
  22. Grady, Robert E. (December 22, 2013). "Obama's Misguided Obsession With Inequality". Wall Street Journal. ISSN 0099-9660. Retrieved May 22, 2019.
  23. Grady, Robert E. (May 22, 2009). "Light Cars Are Dangerous And Other Unintended Consequences of Strict Fuel Economy Standards". Wall Street. Archived from the original on February 24, 2018. Retrieved June 24, 2010.
  24. Grady, Robert E. (May 10, 2010). "Expert:Greek Debt Crisis a Wakeup Call for U.S.,Cheyenne Capital Fund Managing Director Robert E. Grady Argues the Greek Crisis will Spread to the U.S." Fox Business News. Retrieved June 24, 2010.
  25. Grady, Robert E. (July 12, 2010). "CNBC,Street Signs with Erin Burnett,Is it Still Smart to Invest in America? Robert Grady, of Cheyenne Capital Shares his Insight". Retrieved June 24, 2010.
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