Assisting minority business the goal of 8515 Capital - Philadelphia Business Journal:

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She does, however, specialize in bringinf potential buyers and sellers together with the goal of buildingsuccessful minority-operated businesses. Pittman is the founder and managing director of 8515Capital Advisors, a boutiqu e investment bank which assists minority busines owners and aspiring entrepreneurs in acquiring existing either to grow their existing businesses or to branchy out into other enterprises.
The firm, whicn was launched in July, focuses on a territory stretching from New Jersey tonortherjn Virginia, and on transactions ranging from $250,000 to $5 It aids potential buyers with all facetsa of a transaction, including formulatiny strategy, identifying companies for purchase, negotiating a obtaining financing and closing. Pittman came up with the name 8515 Capitao Advisors based on the premisee that everyone possesses 85 percent of whatsuccessd requires. Only when that is fully engaged does the remainin g 15 percent manifest itselfas opportunity, she said.
Pittman believea 8515 Capital fills a niche by catering specificallg to minority entrepreneurs who want to expand their existing businesses or buynew businesses. She also sees it as a resourcse for those who may be considered an afterthough t by traditionalinvestment banks. "I'nm facilitating the buyer in getting the deal said Pittman, 32, a resident of the Overbrook Farms sectionb of Philadelphia. "[Minority business owners] see a need for this type of There have been too few firm who focus on The firm is preparing to close its first a $5 million deal which is expected to be consummate d early this year.
Larry Waddell, president of Pretiukm Management, a fledgling Philadelphia-based firm which specializes in smallleveraged buyouts, declined to identify the businessw he is buying, other than to say it involves retailinh and wholesaling and generates $7 million in revenue annually. Waddell said Pittmahn was instrumental in bringing him and theseller together. "It'sx a profitable business, and I wouldd look to buy it andrun it," said who started Pretium after working with SJF Ventures for nearly five "I probably never would have learnexd about the opportunity if it wasn'g for Mia. "We'll start with one [company] and see how the empirr grows.
" Pittman said the companyu has established aWeb , and relied primarily on relationships she has cultivatee over more than a decade in working at financial institutions to help spread the word about 8515 For example, she met Waddell while employed at The Reinvestment Fund, she "She's a very smart and entrepreneurial woman who's founr a niche business -- advising [minority in a way that didn't exist prior to said James G. Logue, a lawyer who servea as an advisory director to8515 "She has a great networkk of contacts across the board.
To her she's developed a good network, and she's very Pittman started 8515 Capital armed with experience at manyfinancial institutions, where she was involver in numerous buyout, investment and loan transactions. Raisesd in several neighborhoodsin Philadelphia, Pittmann earned a bachelor's degree in economicsw from the University of Pennsylvania and an MBA with a concentratiomn in finance from Templwe University. She is a chartered financial analyst. Pittmam began her career with CoreStatesFinancial Corp.
, wheree she was credit trainerd and gained experience in small businesse and economic development She also worked as a securities analyst for CoreStates Investmenft Advisors' short-term municipal bond funds. Pittman learnede the intricacies of the private equity business and was involved in financin early and later stage venture companies during her two yearzs with TheReinvestment Fund.