New Merchant Banking Firm Comes to the Fore

ARLINGTON, VA-There is a new merchant and investment banking concern on the block now that The Velasco Group LLC has announced its formation as a boutique firm that will cater to the real estate and financial services needs of mid-level companies. Jeffrey M. McClure, Elaine M. Clancy and Harry J. Devens–all of whom hail from major investment banking companies–have partnered up to establish the organization. Velasco plans on instituting its Wall Street investment banking expertise to provide its clients with debt and equity capital raising services and financial advice

“The markets are in total disarray from the point of view of Wall Street firms,” McClure tells GlobeSt.com. “There are a lot of real estate companies that just aren’t receiving any attention any more at a time when capital is flowing into the sector and there aren’t a lot of people to guide them. This sector, the mid-level market guy, can use help getting capital structure in place.” Already, Velasco has plans for expansion. Over the long-term, the company expects to have its own portfolio of assets to manage.