Where sophisticated
investors
access
private markets
10 East is a membership-based
investment firm focused on private
market
exposures for a select
community of institutional and
individual investors.
Our members include founders,
partners, and portfolio
managers
from industry-leading investment firms.1
Leverage the
resources of a
seasoned team.
With 90+ years of collective investing experience and a high-value network,
10 East is built upon expertise, quality connections, and integrity.
Michael Leffell
Founder & Chairman
Former Deputy Executive
Managing
Member of Davidson
Kempner
$1.2B
Invested Capital2
+
1
Transactions3
+
1
Years4
+
Michael Leffell
Founder & Chairman
Former Deputy Executive Managing
Member of Davidson Kempner
$1.2B
Invested Capital2
+
1
Transactions3
+
1
Years4
+
"I was particularly attracted to 10 East because of their investment DNA (vetted, private market opportunities in both off-the-run funds and deals) and its high-quality, internal investment team that does the work."5
Ted Seides
"I have known Michael for +40 years and have enjoyed my relationship with the team for +10 years. Michael is a disciplined, shrewd investor who has a long history of success in sourcing differentiated opportunities, which I have participated in historically and I look forward to evaluating for a long time to come."5
Jonathan Kolatch
"Co-investing with the team at 10 East gets me exposure to opportunities I would be unlikely to find elsewhere. I also value the flexibility of the model, which enables me to pick and choose the investments that are right for my portfolio."5
Jonathan Kolber
"The ability to co-invest alongside Michael and his team is a significant opportunity for members of 10 East because it helps them diversify risk exposures, source new deals, and leverage 10 East's scale and expertise."5
D. Randall Winn
"Seeing opportunities that are pre-vetted, and where the team has skin-in-the-game, saves me an incredible amount of time. Not to mention the performance has been strong, and the team has always operated with the utmost integrity and character."5
Edgar D. Jannotta, Jr.
"We've built an investment firm where economic interests are aligned – across members, shareholders, and investment partners – with material personal capital invested in all offerings."5
Michael Leffell
We solve for performance
via a
flexible
mandate
across sectors,
capital
structures,
and vehicles.
We generally invest in
individual investments and
niche fund
vehicles across
targeted exposures.
Invest alongside our principals.
High-quality access to private market exposures
is cost and
resource intensive.
Complete flexibility
Discretion over whether to invest on an offering-by-offering basis.
Alignment
We commit material personal capital to every offering.
Institutional resources and scale
Dedicated investment team that sources and diligences each offering.
Strategic network
Which facilitates differentiated access.
previously
available to our members.6
Project Sternway
Private Equity
Investment in a concentrated private equity fund focused on established, cash-flow positive information service companies across the digital infrastructure, financial services, healthcare IT and supply chain sectors.
Project Noble
Private Equity
Investment in a convertible preferred equity security structured to provide growth capital to a dental service organization with substantial equity junior in the capital structure.
Project Lodge
Real Estate
Acquisition of a hotel in the Sierra Nevada region with an attractive target cash-on-cash net yield over the estimated five-year hold period and additional upside potential from improved revenue management and food and beverage services.
Project Skysail
Private Equity | Transportation & Logistics
Investment in a concentrated private equity fund focused on investing in cash-flow positive businesses within the transportation, logistics and distribution markets.
Project Windward
Private Credit | Real Estate
Investment in a real estate private credit fund focused on providing multifamily construction financing to experienced sponsors in NYC and high growth markets in the U.S. southeast.
Project Mainsail
Private Credit | Litigation Finance
Investment in a litigation-finance vehicle that funds a variety of claims, including "Dieselgate," the Volkswagen emissions scandal.
Since inception, our investment principals have historically compounded capital at attractive rates of return.⁷ Members can view our historical track record.
Our team sources,
diligences, and provides
ongoing monitoring
for all investments.
We typically invest in 15-30
opportunities each year, notifying
members of investment opportunities
on a rolling basis.
Members invest at their discretion, on a
deal-by-deal basis,
alongside our
investment principal.
We provide ongoing reporting on
investment performance
and investor
relations services.
Select investors are invited to apply for membership
individuals
"We've built an investment firm where economic interests are aligned - across members, shareholders, and investment partners - with material personal capital invested in all offerings."5
Michael Leffell
New York, NY 10022
Copyright 2024 Portage Technologies Inc. — All Rights Reserved
Privacy Policy | Website Terms of Use
There can be no assurance that 10 East will be able to identify investments that are positioned to benefit from its investment approach or that the investments identified will be able to realize, in whole or in part, the opportunities identified in any investment approach. Investing in alternative investments, including through 10 East, is inherently risky and illiquid. It involves a high degree of risk (including of significant and/or complete loss) and is suitable only for sophisticated and qualified investors. There is no guarantee that you will be able to sell, transfer or otherwise exit your investments or that you can do so at a specific price. Any historical, projected or expected returns presented herein are not guaranteed and may not reflect actual performance. No offer or sale of any securities or other investment instrument(s) will occur without the delivery of offering and other definitive documentation, and nothing herein shall otherwise constitute an offer to sell or constitute a solicitation of an offer (or recommendation) to buy, sell or hold any security (or other financial instrument), make any investment, or adopt any investment strategy, or constitute investment, legal, tax, accounting, regulatory or financial advice. 10 East members must seek their own such, and other, professional advice. No sale will constitute a binding agreement unless and until such documentation is finalized and, where applicable, fully executed. Neither Portage Technologies Inc. nor 10 East is a registered investment adviser or broker-dealer.
Certain information herein contains “forward-looking” information under applicable laws and otherwise (“forward-looking statements”). Such forward-looking statements may include, without limitation, expectations, projections (including in each case with respect to investment performance and/or investment term(s)) and anticipated business developments, among others. Forward-looking statements are not guarantees of future activities, performance or otherwise and should not be relied on in any respect. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time, and 10 East assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements.
10 East employees, principals, directors, partners and/or advisors (including each of their respective affiliates) are expected to invest in 10 East offerings in amounts to be determined by such investors at the time of the applicable commitment(s) or investment(s), and have done so, and are expected to continue to do so, directly with the underlying investment sponsor, where applicable, or otherwise outside of the investing entities in which 10 East members will directly invest. Therefore, in connection with such investments, such investors are not expected to pay management fees or carried interest to 10 East or its affiliates, or bear expenses charged at the level of the investing entities in which 10 East members will directly invest (or will pay reduced rates). To the extent such investors do invest in a 10 East offering via the 10 East investing entities in which 10 East members invest, such investors will not typically pay management fees or carried interest to 10 East or its affiliates.
Past performance is not indicative or a guarantee of future results
- As of June 30, 2024. For the avoidance of doubt, these investment firms are not affiliates of Portage Technologies Inc. or 10 East, and such firms are not hereby sponsoring or otherwise endorsing Portage Technologies Inc. or 10 East.
- “Invested Capital” is the total amount of capital, on an aggregated basis, committed to Portage Partners Investments (as defined in footnote 7 below) directly or indirectly by entities owned, controlled and/or sponsored by Michael Leffell, and by partners of Portage Partners (as defined in footnote 7 below) who have independently decided to invest in those Portage Partners Investments. The amounts included herein do not reflect the commitments of a single legal investor or investing entity.
- “Transactions” represents an aggregate number of all Portage Partners Investments. The transactions included herein do not reflect the experience of a single legal investor or investing entity.
- Reflects the number of years since the formation of Portage Partners.
- Association(s) and/or affiliation(s) of each advisor with 10 East are included in the full bio of each advisor. References made to testimonials by any advisor to invest with 10 East are not indicative of future performance and do not imply any guaranteed level of service, skill or training. 10 East investors should not rely on endorsements for any purpose and should conduct their own review prior to investing. Advisors are not compensated for providing their quotes.
- These samples are what we believe to be a representative subset of opportunities that were previously available on 10 East and constitute, brief, high-level summaries that are not currently available for investment. No offer or sale of any securities or other investment instrument(s) will occur without the delivery of offering and other definitive documentation, and none of these samples shall otherwise constitute an offer to sell or constitute a solicitation of an offer (or recommendation) to buy, sell or hold any security (or other financial instrument), make any investment, or adopt any investment strategy, or constitute investment, legal, tax, accounting, regulatory or financial advice. 10 East members must seek their own such, and other, professional advice.
- The historical investment performance and statistics referred to above relate to investments sourced, evaluated, monitored by Michael Leffell and the other investment professionals at Portage Partners LLC (“Portage Partners”) and in which Michael Leffell invested directly or indirectly (“Portage Partners Investments”). Such information is not the same as the performance or statistics of 10 East investments and is not an indication of how 10 East, the platform, or 10 East investments would have performed in the past or will perform in the future. The investment principals ultimately responsible for sourcing, evaluating and monitoring the Portage Partners Investments are the same as the investment principals ultimately responsible for the same for 10 East's investment offerings. There is no guarantee that 10 East will source investment opportunities having similar characteristics, including performance, in the future. Additional information regarding this investment performance is available to logged-in 10 East members.