From the: "I am not seeking business, but I decided to put out a press release anyway" department

In the greatest private equity boom of all time, why not just be honest and announce that you are starting a private equity firm?

http://snipurl.com/p326


Former Merrill Lynch auto analyst John Casesa has joined forces with a former high-level executive from one of the nation's largest automotive retailers to establish an investment and advisory firm.

Casesa, who left Merrill in early February after 17 years as a Wall Street analyst, has teamed with A. Andrew Shapiro, a 13-year veteran of United Auto Group Inc., to form Casesa Shapiro Group. The private partnership will make investments, which will be actively managed, in targeted segments of the auto industry.

At a time when big-name auto industry companies are struggling, the New York-based group will focus its investments on new-vehicle dealerships, the aftermarket and other services. The group will also provide advisory services to corporate clients, it said in a press release.

Casesa said in an interview that the group doesn't have a timeframe for announcing its initial investments. The partners will use their own capital for those investments, but could seek private equity partners as the business grows.