November 2012: Sallyport Holdings, LLC is a private investment company formed to primarily invest in oilfield service, exploration and production and midstream companies.
- It was founded by Douglas Foshee, former CEO of El Paso Corporation, the former chair of the board of directors of The Federal Reserve Bank of Dallas, Houston Branch, and former independent Trustee of the AIG Credit Facility Trust formed by the U.S. Treasury. He was also a commercial banker to the energy sector for many years.
- Kyle Bethancourt, co-founder of Sallyport Holdings, and Drew Carden both worked for GSO Capital Partners, ~$70 billion credit division of The Blackstone Group, with a focus on energy credit.
November 2012 – July 2014: Sallyport Holdings, LLC evaluated over 300 investment opportunities across the capital structure and in a number of industries. A majority of these opportunities were in good and growing small-and-medium sized companies that were unable to receive traditional financial support for their working capital. This scarcity of working capital was leading such companies to get expensive growth (debt and equity) capital. As investors and managers, Sallyport Holdings, found it difficult to see good companies unable to realize their true potential because they lacked access to proper working capital solutions.
April 2014 – July 2014: Sallyport Holdings, LLC was eager to help these entrepreneurs realize their true potential by providing them with financial and business support. Sallyport Holdings partnered with Nick and Emma Hart, a husband and wife team, with a combined experience in the industry of 46 years to form Sallyport Commercial Finance, LLC in July 2014. Nick and Emma previously led the US West Coast office of Bibby Financial Services.
What does Sallyport mean?
- Sallyport is a combination of two Latin words. A “sally”, derived from the Latin “salire”(to jump), and “port”, derived from the Latin “porta” ( a door or passage way).
- Thus a Sallyport was the gate in the castle walls that troops rode out to do battle against their assailants.
- Sallyport gate is also a famous gate at Rice University, attended by Sallyport Holdings Founder, Doug Foshee.