Month: July 2020

Sterling Group seeks director, technology to work with portfolio companies

Sterling Group, the Houston buyout shop that closed a $2 billion fifth fund at its hard cap earlier this year, has set its sights on hiring a director, technology whose primary role would be to help improve the performance of the firm's portfolio companies.

Reporting to Operating Partner Jud Morrison, the director, technology will oversee a variety of projects in business applications, infrastructure, cybersecurity and technology transformation. Such projects might include selecting and implementing a ERP system for a portfolio company, or perhaps laying the foundation to support a new e-commerce sales channel.

"We really want someone who can be a thought leader for all of our portfolio companies when it comes to their technology strategy and IT strategy," said Claudine Lussier, the firm's VP of human resources (pictured).

Log in to read more -->

Join Our Membership

This content is available to members only

Please visit our membership page if you would like to become a member and super-charge your career.

Become a Member

Its third fund a wrap, Guardian Capital to add junior professionals

An oversubscribed Fund III freshly closed at $282 million, Guardian Capital Partners has appointed two new partners and hired a vice president. It also intends to add two to four more analysts and associates over the next 12 months.

"Some much needed good news in PE!" is the subject line that Co-Founder and Managing Partner Peter Haabestad picked in emailing the news of the fund close to me. That's hard to argue with, especially for junior-level job-seekers.

Wayne, Pennsylvania-based Guardian Capital Partners closed its third fund at its hard cap and well above its $250 million target. Shannon Advisors LLC pitched in as placement agent. The 12-year-old firm closed the predecessor fund at $153.5 million in 2014.

"To go from 153 to 282 is a nice little bump for us," said Haabestad, who noted that when the pandemic struck earlier this year potential investors were able to transition quickly to performing due diligence via Zoom and Skype calls. "We were surprised by the momentum we were able to keep up after March," he added. "We thought everything would shut down."

Log in to read more -->

Join Our Membership

This content is available to members only

Please visit our membership page if you would like to become a member and super-charge your career.

Become a Member

Metalmark Capital, Bregal Sagemount, Inflexion see partners depart this year

Private equity firms typically structure their compensation plans to make it difficult for partners to depart for another firm. But that hasn't stopped three partners from swapping horses this year:

* Leigh Abramson joined San Francisco-based lower-middle-market buyout shop Gryphon Investors earlier this year as a partner and head of the industrial growth group after serving as a founding partner at private equity shop Metalmark Capital. That's according to the bio on the Gryphon Investors Web site. Abramson's joining Gryphon Investors has not been widely reported, if at all.

* John Harper (pictured) joined the London office of buyout shop H.I.G. Capital this June to become managing director and head of the London LBO team, according to his Linkedin profile. Previously Harper was a partner at London-based Inflexion Private Equity.

Log in to read more -->

Join Our Membership

This content is available to members only

Please visit our membership page if you would like to become a member and super-charge your career.

Become a Member