Steven Russell Named Assistant Men's Basketball Coach

by Sports Information
11/9/04

LANCASTER, PA – Steven Russell has been named an assistant men’s basketball coach at Franklin & Marshall College.

A 1991 graduate of Morehouse College in Atlanta, Russell went on to earn an MBA and Juris Doctorate from Temple University in January 1995.

A member of New Jersey Supreme Court bar and United States Naval Reserve Judge Advocate General Corps, he founded Greenwood Advisors, LLC. With Greenwood, he co-developed the “comprehensive investment plan” for the Philadelphia Capital Opportunity Fund (PCOF), a fund focused on community venture capital and commercial real estate investments in low-income communities. In addition, he negotiated a $500 thousand term sheet for The Enterprise Center Capital Corporation and PSI Penn, LLC, a globally focused, environmentally conscious recycler.

Currently, he is managing director of iNetworks, LLC in Philadelphia, a $50 million early stage venture capital fund focused on minority and women-led technology companies headquartered in the Mid-Atlantic Region.

From December 1996 through March 1998, he worked as a senior private equity analyst for the Pennsylvania Public School Employees’ Retirement System in Harrisburg, Pennsylvania. While at the PSERS, he managed the organization’s $4 billion commitment of private investments, including venture capital, private equity, leveraged buyouts, distressed investments, mezzanine and growth equities. He negotiated all private equity and venture capital agreements, performed legal review of all term sheets and partnership agreements and managed PSERS’ $68 million direct investment portfolio. Further, he administered PSERS’ $400 million Developmental Fund and $200 million Absolute Return Programs.

The senior vice-president and portfolio manager at HomeState Mutual Fund in Lancaster from March 1998 through November 2001, he co-managed the $25 million HomeState Select Banking and Finance Fund (HSSAX), an open-end fund that invests in companies primarily engaged in the banking and financial services industries, concentrating on small-cap companies. The fund’s three-year performance has been ranked by Morningstar as a top decile fund. In addition, he managed the $20 million HomeState Technology Fund (HSYTX), an open-end fund that invests primarily in companies in the technology sector.

Further, he served as senior vice-president and portfolio manager for Emerald Advisors, Inc. in Lancaster during the same period he was at HomeState. At Emerald, he managed over $325 million in 1,555 various accounts ranging from pubic funds to individual accounts concentrating on small to mid-cap stocks.

He was also responsible for management of Emerald’s trading, clearing, back office operations and human resource functions improving minority employment from within the firm 10% within two years.

In March 2000, he was a founding partner of Emerald Venture Capital GP, L.P. in King of Prussia, a $200 million seed and early stage venture capital fund focused on technology companies headquartered in the Mid-Atlantic Region. While at Emerald, the fund invested $3 million of capital in three seed stage companies (Vcall; Sting Communications; and Adjunto) and attracted more than $15 million in additional funding from co-investors.

A leader in the field, Emerald authored a quarterly market commentary for clients and the brokerage community that has appeared on Bloomberg Investment Forum, CNBC and Radio Wall Street and has been quoted in Smart Money Magazine, Dow Jones News Services, Pensions and Investments, The Wall Street Journal and other media.

In addition, he sits on the board and advisory board of multiple organizations including The Enterprise Center Capital Corporation (Treasurer, Board of Directors), Leukemia Society of Central Pennsylvania (Board of Directors), the United Way of the Capitol Region (Fund Distribution Committee) and Ben Franklin Technology Partners of Southeastern Pennsylvania (Manufacturing/Sensors/Materials/Environmental Investment Advisory Committee and Minority Technology Advisory Board).