Jay D. Squiers is a Managing Director at Ankura based in Dallas. He has over 30 years of investment experience covering the whole gamut of institutions and securities. His experience includes senior roles as the lead investor in both consensual restructurings and bankruptcies. Jay has extensive experience in the broadly defined energy industry, including significant knowledge of exploration and production, pipelines, refining, and oil field services.
Prior to joining Ankura, Jay was a managing director and chief financial officer of Petro Capital Energy Funds, a private equity and credit fund specializing in smaller oil and gas and oil field service companies. In that role, Jay was responsible for overseeing the day-to-day management of the firm’s portfolio companies, implementing a hedging strategy, and underwriting new investments.
Jay established and managed the Equipment Finance Group of Alliance Partners, a startup financing company focused on bridging the gap between the capital markets and community banks. Jay was responsible for drafting and implementing the group’s investment policies, overseeing the underwriting of new financings, and managing the group’s staff of investment professionals.
Jay served as the chief operating officer and executive vice president of CSG Investments Inc., an affiliate of the Beal Banks. In that role, Jay served as the lead negotiator for the senior secured debt in an Atlantic City multiple-casino bankruptcy. He was the lead in structuring and underwriting the stalking horse debtor-in-possession facility for an S&P 500 retail real estate company. Jay also managed an investment staff of up to 65 professionals focused on purchasing stressed securities in the high-yield bond market and the syndicated loan market, residential and commercial mortgage-backed securities, and whole commercial mortgages. In addition, Jay underwrote the participation in several DIP financings while at CSG.
Jay served as a principal in the energy group of American Capital Securities, where he focused on sourcing and underwriting new debt investments in energy companies.
Jay was a managing director in the Drawbridge Special Opportunities Fund of Fortress Investment Group, where he had responsibility for sourcing and underwriting new investments for the fund on a generalist basis but with a concentration on energy companies.
Jay served as a senior vice president for Prudential Capital Group, the private placement arm of Prudential Financial. Jay was responsible for originations and management for a portfolio that varied from $20 billion to $60 billion, and managed an investment team of up to eight junior professionals. In this role, Jay led a consensual restructuring of the debt of a commercial aviation supply company following 9/11 that resulted in payment in full for all creditors, and allowed the family-owned business to continue operations following a severe downturn in business.
Jay began his professional career as an associate in the corporate/securities section of Hughes & Luce, a Dallas-based full-service law firm. Among other transactions, Jay worked on the investment by Ross Perot and Carnegie Mellon University in NeXT Inc., a startup company founded by Steve Jobs.