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Bear Stearns joins forces with GlobeSecNine to invest in US homeland defence sector

Bear Stearns has formed a strategic alliance with private investment firm, GlobeSecNine, to pursue private equity investment opportunities in the homeland defence and security sectors.

Investments will be funded from the $1.5bn Bear Stearns Merchant Banking fund, of which $300m has been previously designated for investments in the sector. Bear Stearns announced a similar alliance with Giuliani Partners last year.

'We believe that our work with GlobeSecNine, who bring a unique set of experiences in special forces, classified operations, transportation security and military operations complements our work with Giuliani Partners,' said Rick Perkal, Bear Stearns Merchant Banking senior managing director and head of the security and defence team. 'GlobeSecNine and Giuliani Partners both offer invaluable insights and unique skills to companies in this highly fragmented but dynamic sector.'

GlobeSecNine will identify investment opportunities both in the US and internationally. 'Our view is that there are good opportunities now including a number of undercapitalised companies poised for growth and, if appropriate, consolidation. By leveraging the expertise of Bear Stearns Merchant Banking and GlobeSecNine, we hope to create a profitable union,' said Anthony Padgett, chief executive officer of GlobeSecNine.

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