Stephan Nicoleau is a Managing Director at FullCycle and leads the firm’s capital formation and partnerships. He brings more than a decade of investing and investment advisory experience to FullCycle.
Stephan began his career as a member of the founding team of Coalition Ltd., a boutique strategy consultancy. That team grew the company to $50 million in revenue in just four years, growing its staff from eight to ~400 in that same time period. In that role, Stephan closely worked with the senior leadership of a number of sell-side investment banks. He was part of the seconded team which restructured the Global Currencies and Commodities division at JP Morgan, building it to be a globally nimble business that doubled trading revenue while mitigating macroeconomic risk. While managing the development of the new Global Markets division at Credit Suisse, Mr. Nicoleau played an integral role in consolidating and realigning key business units, with the achieved goal of building a globally positioned investment bank. In the most eventful days of the financial crisis, Stephan and his team advised Barclays Capital in its acquisition of assets and businesses, navigating difficult markets and regulations to markedly increase the size and reach of that financial institution. While at Coalition, Stephan also built and led the firm’s most successful analytics business for buy-side managers and family offices, which he grew until the firm’s eventual sale to S&P.
In founding Critical Value Advisors, Stephan advised more than $50 billion in private wealth and successfully structured and co-invested in transactions in technology, infrastructure and impact. Critical Value took a principal position as a co-investor in several transactions, allowing the firm to identify, and invest in, opportunities for environmental and social impact. Mr. Nicoleau also founded LaGuardia Development Partners, a minority-owned infrastructure development firm focused on the redevelopment of LaGuardia Airport. In his work as an infrastructure investor, he successfully structured the effort to bring local MWBE equity capital and participation to the $5 billion public-private partnership to redevelop the airport, a first of its kind in the nation.
A graduate of the University of Pennsylvania, Stephan resides in New York City, a hub for FullCycle and its network of partners, platform companies and employees.