Extra edge
Michael Hollend's Bay Street office is just a few blocks away from UofT, but his career trajectory since obtaining his JD/MBA in 1999 has launched him far beyond the walls of the university, to a coveted spot in the world of private equity investing. Hollend, a partner at Torquest Partners, co-manages a fund worth $550 million, sourcing deals in established companies that ultimately bring big returns to the fund's institutional investors.
"I think I always knew my heart lay somewhere in business," says Hollend, who enrolled in the program after earning an undergraduate degree in economics. "For me it was sort of a hedge. One degree that provided a certain path, and one that provided an open-ended path. But both led to sort of the same world."
In Hollend's case, the two worlds merged as soon as he graduated. After spending a summer working at an investment bank, he articled at Goodmans LLP where he was called upon to lead the firm's new venture group. Hollend was hooked. A contact from his JD/MBA days eventually linked him up with someone in the private equity community, and thus began the current phase of his career.
"There sure is a lot of happenstance that makes things happen," he muses. "But there are definitely ingredients there that stem from opportunities that were created by virtue of the program I went into."
Hollend says his legal expertise often gives him an edge in complex business ventures. He recalls one case, in which he was able use it to thwart another investor's attempt to derail a proposed acquisition. His understanding of the documents saved the deal.
"I used my knowledge and familiarity and comfort with the legal agreements," he says, "to be able to see a path through what most people just look at as words on a page."
Thanks in large part to his JD/MBA background, Hollend has been able to carve his own path to success.
"The first thing is, it opens your eyes," he says. "And the second thing is it opens doors."
By Karen Gross
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