Mr. McDermott is a Managing Director based in Los Angeles and one of the firm’s two Managing Partners. Mr. McDermott has operational control of the firm’s day-to-day activities. Prior to forming USRG, Mr. McDermott started his career as a public power banker with First Boston’s Municipal Finance Group in New York. While at First Boston, he worked with Southern California Public Power Authority, Los Angeles Department of Water and Power, Washington Public Power Supply System and several other West Coast municipal utilities and investor owned utilities. As a private equity investor, Mr. McDermott worked for Prudential’s Private Capital Group and Allen & Company. As an entrepreneur, Mr. McDermott has started, run and invested in the following companies: Stamps.com, Inc. (NASDAQ: STMP) (Founder and CEO), Spoke Software, Inc. (Founder and CEO), NanoH2O, Inc. (Founder and Board Member) and OH Energy, Inc. (Founder & Board Member).