Early Life and Education
Gregg S. Hymowitz was born on November 16, 1965, in Bellmore, New York. He displayed academic excellence early on, graduating cum laude from Harvard Law School in 1990 with a Juris Doctor degree. He earned a Bachelor of Arts degree, Phi Beta Kappa, from the State University of New York at Binghamton in 1987. Hymowitz was also recognized as a Harry S. Truman Scholar from New York in 1985 and a British Hansard Society Scholar in 1987. His father and grandfather lost a sponge manufacturing business, which inspired him to pursue a career that would provide financial security.
Rise to Success
Hymowitz began his career as an attorney in the Mergers & Acquisitions group at Skadden, Arps, Slate, Meagher & Flom. In 1992, he joined Goldman Sachs & Co. as a Vice President. In 1997, Hymowitz founded EnTrust Global (originally EnTrust Capital). He personally handled asset gathering and investment decisions, leading the company to amass over $1.1 billion in assets by the end of that year. In 2016, Legg Mason purchased a 65% stake in EnTrust for $400 million. Hymowitz repurchased the entire interest from Franklin Templeton in 2020 and has since sold a minority stake to the Brunei Sovereign Wealth Fund, which now owns 20%. He is also the chairman of Purus Marine, investing in environmentally friendly maritime transportation.
Key Business Strategies
Hymowitz is known for his bold investment strategies and his use of concentrated investments. He is an activist investor and has partnered with other billionaire activists. Hymowitz launched Blue Ocean Funds, a maritime lending division, which has financed over 50 vessels with over $1 billion in commitments. He has also capitalized on the private credit boom.
Philanthropy
Gregg Hymowitz is actively involved in philanthropy and has endowed the Hymowitz Scholarship for Harpur College undergraduate students and the Hymowitz Professorship of Global Health at Duke University. He established the Jolli Humanitarian Award in 2010. Hymowitz participated in the FTI Consulting Great Charity Challenge, raising $2.5 million for Florida charities. He has also contributed to organizations like the National Multiple Sclerosis Society, New York Cares, and The Retreat.