Deals Sourced. Structured. Closed. Built. Scaled. Exited.

Track Record — Selected Transactions & Case Studies

Representative transactions reflecting the career track record of Dunross Capital Partners’ principal, Michael Crow, as an investor and operator — presented as personal/principal track record.

CASE STUDY 01

Southeast Multifamily Portfolio

Off-market acquisition, financing, and vertical integration to $600M+ AUM — then a full-cycle exit.

The Opportunity

In partnership with institutional private-equity capital, Dunross’ principal set out to build a Southeast U.S. apartment portfolio entirely through off-market deals — avoiding the pricing premiums and competition of brokered processes.

What We Did

  • Directly sourced and acquired approximately 5,000 units off-market, with no broker auctions.
  • Structured and placed financing across the portfolio — from bridge loans through permanent refinancings, total financings exceeded $400 million.
  • Built integrated asset management, property management, and construction capabilities in-house to drive value at the asset level, with an employee base of over 200.

The Result

  • Scaled the portfolio to more than $600 million in assets under management.
  • When cap rates and yield-on-cost compressed by 300 bps and apartment assets became too expensive, stopped buying and began selling in 2021.
  • Executed a successful full-cycle sale of the assets between 2021 and 2025.
CASE STUDY 02

National Investment Managers

A roll-up from $200M to $13B in assets — built into the largest independent pension administration firm in the U.S.

The Opportunity

A fragmented pension-administration industry with dozens of small, sub-scale operators — ripe for consolidation by a disciplined acquirer with a clear integration playbook.

What We Did

  • Founded the platform and led a buy-and-build strategy of 25+ “tuck-in” acquisitions in four years.
  • Integrated acquired firms onto a common operating platform while scaling the team from 4 to more than 800 employees.
  • Financed the growth and acquisitions through a hedge fund, and later with Lehman Brothers — over $150 million of debt and equity.

The Result

  • Grew assets under administration from $200 million to over $13 billion.
  • Became the largest independent pension administration firm in the country.
  • Sold the business to private equity in a successful exit.
CASE STUDY 03

Conduit Lending Platform — with Lehman Brothers

Founding and building a large non-traditional finance lender for commercial real estate and business lending.

The Opportunity

Borrowers in commercial real estate and operating businesses were underserved by traditional bank credit — a gap that a purpose-built conduit lender could fill at scale.

What We Did

  • Co-founded and built the lending business in partnership with Lehman Brothers.
  • Originated and structured non-traditional financing across commercial real estate and business lending.
  • Originated over $1 billion through channel partners.

Why It Matters Today

This is the same DNA behind Dunross Capital Partners: representing institutional capital, originating and structuring directly, and getting deals closed — now on behalf of sponsors, business owners, and founders.

Case studies reflect the personal career track record of principal Michael Crow across prior ventures and are presented for background purposes only. Past performance is not indicative of future results.

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