The Power of Two Investment Firms in One

With a track record of successful investments in local businesses stretching back over two decades, Council Capital and Enhanced Capital Partners joined together in 2009 to form the C&E Tennessee Fund, and participate in the state’s TNInvestco program. The C&E fund draws on the strengths and resources of both firms to effectively partner with entrepreneurs and support transformational, high growth companies in Tennessee. C&E’s extensive network of relationships with current and former corporate executives enables the group to bring an unrivaled degree of operational expertise to bear on its portfolio companies.

  • Council Capital (www.councilcapital.com) is a Nashville-based private equity firm with approximately $150 million of capital under management. The firm’s unique value proposition is its CEO Council with over 20 experienced CEOs who give portfolio companies access to networks and expertise helpful in building great companies.

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  • Enhanced Capital Partners (www.enhancedcap.com) is a national private investment firm specializing in investments in small and mid-sized companies to further economic development in strategic areas. Enhanced has offices in New York, Alabama, Colorado, Louisiana, Tennessee, Texas and Washington D.C.

Our People

  • Dennis C. Bottorff
    Council Capital
    Managing General Partner and Co-Founder

    • Dennis C. Bottorff

      Council Capital

      As a successful financial services CEO, Denny created more than $7 billion in realized shareholder value. During his 32-year career in banking, he led or was intimately involved with 29 acquisitions. Denny has been the key executive of four banks, including: President and then Chairman and CEO of Commerce Union, Vice Chairman and COO of Sovran Bank, President and COO of C&S Sovran, and President and CEO of First American National Bank. He led First American from a net loss to a sale to AmSouth for $6.4 billion. With the merger of First American and AmSouth, he became Chairman of AmSouth until he left in 2000 to form Council Ventures.

      His corporate board experience includes serving as a member of the Board of Directors of 11 companies from pre-revenue startups to Fortune 500 companies. In 2007, as Chair of the Strategic Planning Committee of the Board of Directors of Dollar General Corporation, he oversaw the process that culminated in the sale of Dollar General to Kohlberg Kravis Roberts & Co. for $7 billion. As Vice Chair of the Vanderbilt University Board of Trustees, a board he joined in 1991, Denny has twice chaired the search committees for a new Chancellor, including the most recent search concluded in early 2008. In 2006, he was appointed by the President of the United States to the board of the Tennessee Valley Authority (TVA), the nation's largest public utility and currently serves as Chairman of the Board of TVA.

      Denny is Chairman of the Board of Council Capital portfolio company NuScriptRX, non-Executive Chairman of CapStar Bank and Board Member of Ingram Industries. He was previously a member of the Board of Council Capital portfolio companies Lancope, MEMX, AppForge and Benefit Informatics.

  • Andrew M. Paul
    Enhanced Capital Partners
    Founder and Chairman of the Board of Directors

    • Andrew M. Paul

      Enhanced Capital Partners

      Andrew Paul is the Founder and Chairman of the Board of Directors of Enhanced Capital and Chairman of its Investment Committees. Andy works closely with all Enhanced Capital fund managers and Enhanced Capital’s portfolio companies. He is also the Managing General Partner of Enhanced Equity Fund, a $600 million equity fund focused on buyouts of and growth capital for lower middle-market companies, as well as the Managing Member of Sopris Capital Associates which invests opportunistically in small, emerging companies primarily in healthcare and technology. He has been actively engaged in private equity and venture capital investing for over 20 years, primarily in the healthcare industry.

      Prior to founding ECP, Andy was a General Partner and a Managing General Partner at Welsh, Carson, Anderson and Stowe (“WCAS”) a leading private equity firm with over $12 billion under management. Andy focused on healthcare investing during his 16 year career at WCAS. Prior to WCAS, Andy was an associate of the venture capital group of Hambrecht & Quist.

      He serves on the boards of numerous companies and charitable organizations. Andy graduated from Cornell University and received his MBA from Harvard Business School in 1983.

  • Katie H. Gambill
    Council Capital
    Managing General Partner and Co-Founder

    • Katie H. Gambill

      Council Capital

      Katie was the youngest of a small group of principals who purchased Equitable Securities from American Express in 1972. When Equitable Securities was sold to SunTrust in 1998, she was President of Equitable Securities and its second-largest shareholder.

      At Equitable, she was Chief Investment Officer with primary responsibility for the direct investment of the firm's capital in both public and private emerging growth companies, including both healthcare and financial services businesses. From 1972 to 1998 Katie had primary responsibility for building and leading Equitable's equity business. When the company was acquired from American Express in 1972, revenues acquired were over 90 percent corporate and municipal bond sales and underwriting. When the company was ultimately sold to SunTrust in 1998, revenues were over 90 percent from the equity business.

      In addition to her position as President, Katie was a member of the Executive Committee and a member of the Board of Directors of Equitable Securities. She was Chairman of the Investment Policy Committee governing all research recommendations and investment banking underwriting commitments; the Founding Managing Director and member of the Board of Directors of Equitable Asset Management, a mutual fund management company; and member of the Board of Directors of Equitable Trust Company. Combined assets under management were over $1 billion at the time of the sale to SunTrust.

      After the sale to SunTrust, Katie became President and a member of the Board of Directors of the newly formed SunTrust Equitable Securities. She remained with SunTrust Equitable Securities until co-founding Council Ventures in 2000.

      Katie is presently a member of the Executive Council of the Harvard School of Public Health and an observer on the board of Senior Health Holdings (Senior Whole Health). She was previously a member of the board of Council Capital portfolio companies Advanced Academics, Benefit Informatics, iKobo, NotifyMD and Senior Whole Health.

      Katie received her BA cum laude in Economics from Vanderbilt University in 1968 and her Chartered Financial Analyst (C.F.A.) designation in 1976.

  • Michael A.G. Korengold
    Enhanced Capital Partners
    President and Chief Executive Officer

    • Michael A.G. Korengold

      Enhanced Capital Partners

      Michael serves as the President and Chief Executive Officer of Enhanced Capital. Michael serves on the firm’s Investment Committees and also serves on the Boards of several Enhanced Capital portfolio companies. Prior to becoming President, Michael served as the Company’s Sr. Vice President and General Counsel where he handled the company’s various legal matters including government relations and corporate compliance issues. Prior to joining Enhanced Capital, he practiced law for seven years in New Orleans and Minneapolis, with an emphasis on mergers & acquisitions and financing transactions.

      Since joining Enhanced Capital, Michael has lectured extensively on capital formation programs, and has testified before numerous state legislatures and other governmental institutions on related issues. Michael also has served on the Boards of numerous civic, community and charitable organizations and currently serves on the Executive Committee of YPO’s Gotham Chapter.

      Michael is a 1986 graduate of Vassar College and a 1993 magna cum laude graduate of the University of Minnesota Law School where he graduated Order of the Coif (highest honors) and served as an Editor of the Law Review.

  • John W. Davis
    Council Capital
    Senior Associate

    • John W. Davis

      Council Capital

      Prior to joining Council Capital in 2008, John worked in the Health Care Investment Banking Group at Raymond James in Nashville. At Raymond James, he was active in buy- and sell-side M&A advisory, as well as private placements and public equity offerings, playing key roles on 10 advisory engagements with an aggregate value of approximately $3.7 billion and three public equity offerings, including an IPO.

      Notable transaction experience includes: (i) $1.3 billion strategic restructuring of HLTH Corp. (NASDAQ: HLTH) and WebMD Health Corp. (NASDAQ: WBMD); (ii) $395 million buy-side advisory for the Amedisys (NASDAQ: AMED) acquisition of TLC Health Care Services, an Arcapita portfolio company; and (iii) $75 million private placement of equity in Ambulatory Services of America by Lindsay Goldberg.

      During his tenure at Raymond James, he developed complex integrated financial models for clients and created board presentations for public and private companies to evaluate acquisitions and proposals. In addition, he drafted sell-side memoranda and public offering committee memoranda.

      John serves on the board of directors of Leadership Health Care, an initiative of the Nashville Health Care Council to foster the next generation of healthcare leaders by creating educational and networking opportunities for its 600 members. In addition, John was named to Nashville's Top 30 Under 30 in 2011.

      He graduated from Vanderbilt University with a BS in economics and engineering science and minors in corporate strategy, financial economics and management of technology.

  • Richard D. Apple
    Council & Enhanced TN Fund
    Director

    • Richard D. Apple

      Director of the C&E Tennessee Fund

      As the Director of the Council & Enhanced Tennessee Fund, Rick is the primary person responsible on a day-to-day basis for all aspects of the investment process, from deal sourcing and screening, to portfolio monitoring and reporting. He joined Council & Enhanced in 2010.

      Rick began his career in New York as a consultant with Oliver Wyman, a leading global financial services consulting firm. At Oliver Wyman, Rick participated on numerous client engagements for large commercial banks, insurance companies, and investment banks, with a special emphasis on risk management and portfolio modeling.

      Following his time at Oliver Wyman, Rick worked as an analyst in the industrial growth investment banking group at Wachovia Securities, which is now part of Wells Fargo Securities. While there, he worked on the $275 million sale of Sonitrol Corporation to Stanley, as well as an $80 million equity raise for a green field manufacturing enterprise in the energy industry.

      Rick pursued his undergraduate studies at Princeton University, where he graduated magna cum laude with a BSE in Operations Research and Financial Engineering, and a certificate in finance.

© 2011 Council & Enhanced TN Fund, LLC