Star Mountain Capital Welcomes Dr. Donald Raymond as Senior Advisor to Strengthen Global Investment Expertise
Star Mountain Capital, LLC , a rapidly expanding, employee-owned investment firm managing approximately $4.5 billion in assets under management (AUM), is pleased to announce the appointment of Dr. Donald Raymond as Senior Advisor. In this newly created role, Dr. Raymond will leverage his extensive global investment experience to support Star Mountain’s portfolio construction, investment strategy, and thought leadership initiatives.
Dr. Raymond brings over three decades of experience across public and private markets, institutional governance, and portfolio management. His appointment marks a significant milestone in Star Mountain’s commitment to enhancing its strategic capabilities and delivering exceptional value to investors through disciplined, research-driven investment practices.
Don’s leadership at some of the world’s largest asset owners, combined with his deep expertise in portfolio construction and institutional governance, brings a differentiated and highly valuable perspective to Star Mountain,” said Brett Hickey, Founder and CEO of Star Mountain Capital. “We are thrilled to welcome him as an aligned Senior Advisor, and we are confident his guidance will strengthen our investment processes and further our mission of creating long-term value for our investors.”
Dr. Raymond’s career spans leadership roles at some of the most influential global institutions, including the Qatar Investment Authority (QIA) and the Canada Pension Plan Investment Board (CPP Investments). At CPP Investments, he served as the organization’s first Chief Investment Strategist, playing a central role in the creation of the innovative Total Portfolio Approach and in the early adoption of the United Nations’ Principles for Responsible Investment (UNPRI) in 2005. Under his guidance, the public markets portfolio grew from $11 billion in passively managed funds to $100 billion in actively managed assets, overseen by more than 130 professionals across multiple active investment strategies.
At QIA, Dr. Raymond contributed his expertise in shaping investment strategy and portfolio construction for one of the world’s largest sovereign wealth funds. Earlier in his career, he held key roles at Goldman Sachs in Toronto and New York, excelling as a fixed income strategist and in global equity and fixed income portfolio management. He also gained early international exposure working with Schlumberger in China and served as a trained pilot in the Canadian military.
Dr. Raymond’s experience extends beyond portfolio management into leadership roles across private equity, alternative investments, and institutional governance. He served as Managing Partner and Chief Investment Officer of Alignvest Management Corporation, overseeing alternative investment strategies. He has also chaired boards and investment committees for prominent institutions, including Queen’s University Endowment and Great West LifeCo (TSX: GWO), one of Canada’s leading global insurance companies with over $600 billion in AUM.
In addition to his advisory and governance roles, Dr. Raymond provides counsel to the central banks of Singapore and Thailand. He is an Adjunct Professor of Finance at the University of Toronto’s Rotman School of Management and Chair Emeritus of the International Centre for Pension Management, where he continues to contribute to thought leadership in investment strategy and institutional governance.
Dr. Raymond holds a B.Sc. and Ph.D. in Electrical Engineering from Queen’s University and is a CFA charterholder. Reflecting on his decision to join Star Mountain, he commented, “Star Mountain’s specialized focus on the lower middle-market has the potential to positively impact a wide range of investment portfolios. The quality of the team, their disciplined approach to investing, and their long-term alignment with investors mirror the principles that have guided my work across global institutional portfolios.”
With Dr. Raymond joining the firm, Star Mountain Capital is poised to further strengthen its investment capabilities and thought leadership, enhancing its mission to deliver sustainable, long-term value to clients while maintaining rigorous investment discipline.
About Star Mountain Capital
With ~$4.5 billion in AUM (committed capital including debt facilities as of 1/31/2026), Star Mountain specializes in providing scalable and data-driven investment solutions across two core strategies:
- Direct Investments: Providing debt and equity capital to established lower middle-market businesses.
- Secondary Investments: Acquiring LP interests, direct assets and making primary LP commitments.
Star Mountain’s investors include public and private pensions, insurance companies, commercial banks, endowments, foundations, family offices and high-net-worth individuals. Employee-owned and sharing profits with 100% of its U.S. full-time employees, the firm prioritizes alignment of interests to maximize value for stakeholders.
Since 2010, Star Mountain has completed over 100 direct platform investments and 50 secondary/fund investments in the North American lower middle-market. The firm has been recognized as one of the Inc. 5000 fastest-growing private companies and a Best Place to Work by Crain’s New York Business and Pensions & Investments.
