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Hochfelder Takes Sole Control of Max Capital in $75M Buyout

NEW YORK CITY-The firm's co-founder buys out his partner and takes sole control of the prestigious firm. He says his vision for the future is clear and includes expanding beyond the firm's Manhattan stronghold.

By Glen Thompson | Updated on April 16, 2002

NEW YORK CITY-Max Capital Management Corp. president and CEO Adam C. Hochfelder has bought out longtime partner N. Richard Kalikow and has assumed sole leadership of the $2.5 billion firm. Sources close to the deal are placing the value of the transaction at roughly $75 million.

The transition became official on Monday, though it has been in the works for the past four months, Hochfelder says. “It was really just a deal that made sense for both of us,” he tells GlobeSt.com. “I don’t know that anything will necessarily change. I just have a very clear vision on the future of the company. We will continue to buy underperforming assets and continue to add value to our portfolio.”

With more than seven million sf of Manhattan office space and over 300 employees, Max Capital has long been known as a major New York player, but Hochfelder says he plans to broaden the firm’s geographic reach going forward. “I’m committed to buying properties in central business districts,” Hochfelder tells Globest.com. “Obviously we’ve focused on New York but there are tremendous opportunities in CBDs around the country.” He notes that the Northeast, Southeast and Midwest “will be three regions that will be focused on. We plan on being very active buyers of commercial property.”

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