Bay Grove Genesis

Bay Grove was formed in late 2007 by Kevin Marchetti and Adam Forste and joined in 2011 by Dave Brandes. The three were former colleagues in Morgan Stanley’s investment banking group who reunited after their respective tenures in institutional private equity - Kevin at The Yucaipa Companies, Adam at Kohlberg Kravis Roberts & Co. (KKR), and Dave at Shorenstein Properties.

During Bay Grove’s formative period, Adam and Kevin conceived a simple vision for Bay Grove focused on several core tenets:

• Create platform companies one at a time with investment lifespans measured in decades, not years

• Build these platforms through a combination of acquisitions and organic deployment of capital

• Develop deep domain expertise around each platform

• Use capital and capital markets as efficiently as possible

• Use Bay Grove’s bedrock to help guide companies to outstanding results

Since late 2008, Bay Grove has executed its owner-operator vision and approach with Lineage. Currently, the team devotes all of its time to the growth and success of this platform.