Larry E. Jennings, Jr. is a founder of and has served as a manager of ValStone Partners since its inception in 1998. Prior to co-founding ValStone Partners, Mr. Jennings was formerly a principal of Carnegie Morgan Partners, L.L.C. (“CMP”), a financial advisory firm to state and local governments and their agencies and non-profit organizations.

Before forming CMP in 1994, Mr. Jennings spent over seven years in the public finance investment banking department of Legg Mason Wood Walker, Inc. During his tenure at Legg Mason, Mr. Jennings rose to the level of Managing Director and sat on the committee that directed all municipal investment-banking activities of the firm.

Mr. Jennings’ investment banking experience includes real estate workouts, restructuring distressed municipal credits, sale/leaseback of public real estate assets, and negotiating energy contracts on behalf of public and private entities.

In prior years, Mr. Jennings also worked as a Senior Financial Analyst with Maryland National Bank.  Mr. Jennings received a B.S. in Mathematics and Economics from Carnegie Mellon University and an M.S. in Industrial Administration from the Graduate School of Industrial Administration (now the Tepper School of Business) at Carnegie Mellon University, where he concentrated in Finance and Strategy.

Mr. Jennings is a member of the Board of Trustees of Carnegie Mellon University, where he also serves on the Investment Committee and previously co-chaired the Math Curriculum Advisory Board, a member of the Morgan State University Foundation Investment Committee, and a former Public Advisor member of the Investment Committee of the Maryland State Retirement and Pension System.