The leading recruitment and training platform for private equity professionals since 2019
By summer's end Chicago-based Origami Capital Partners plans to have hired two more associates to stay on pace with consummating some 20 to 25 opportunistic deals for the $520 million fund the firm closed last spring.
First up, the roughly 20-person shop plans to hire an originations associate to process and evaluate potential transactions. If the deals prove attractive, the associate would then steer them to the letter of intent stage before handing them off to the investment team.
The New York City Office of the Comptroller seeks a new head of private equity to take over for J. David Enriquez, who is reported to be leaving for a position in the private equity business of Rothschild.
The job is a big one. The Bureau of Asset Management, steward to $250 billion in assets on behalf of five city pension systems, oversees a $16.4 billion private equity portfolio whose allocation has been growing. But the job also pays well. The salary range posted for the position: $250,000 to $265,000.
Last Thursday morning I sent a set of questions to a media relations executive at New York City-based powerhouse PE shop Warburg Pincus. I'd been wondering the answer to the first question ever since I started Private Equity Career News two years ago.
How do folks find out about job openings at Warburg Pincus?
I also asked the executive why the firm, which has more than $60 billion in AUM, doesn't advertise open positions on job boards (that I could find) or on its Web site's career page (Update: the firm does post analyst jobs at a number of colleges and universities including historically black colleges and universities); I asked how important diversity and inclusion is to the firm; and I asked how the firm reconciles its desire to attract a diverse pool of candidates for openings with not publicizing them on job boards or its own Web site.
Start-up buyout shop BharCap Partners, founded earlier this year by five former colleagues of Pine Brook Partners, has brought aboard Samir Mohin as a sixth partner in the role of chief financial officer and chief operating officer. The firm plans to continue to expand its payroll over the next 12 months, according to an earlier PECN story.
Mohin will take charge of overall business operations, including finance, accounting and compliance for the financial services investor. He previously served as chief financial officer and chief operating officer at Altpoint Capital Partners. Before that he served in senior finance positions at Gen II Fund Services and buyout shop Veronis Suhler Stevenson, where he worked alongside BharCap Partners Head of Investor Relations and Partner Jim Rutherfurd for more than eight years.
David Swensen, the chief investment officer of Yale University from 1985 until his death earlier this week at age 67, led a generation of money managers headlong into alternative assets such as hedge funds, real estate, timber and private equity.
Yet the co-creator of the influential “Yale Model” of investing was no cheerleader for private equity. In his book “Pioneering Portfolio Management” Swensen offers one of the most scathing assessments of the asset class ever written.
Continue reading “Why David Swensen was skeptical about buyout returns: Corrected”
Franklin Foster has left a 16-year career behind at Audax Group to launch a buyout shop north of Boston called Essex Bay Capital. One of his first recruits: Yash Singh, former president and head of MRI and robotics at Analogic, who joined this month as managing director.
The launch extends a remarkable run of firm formations over the last several months that is creating jobs at every level. Since March 12 Private Equity Career News has reported on the launches of Dataquest Partners of Fort Lauderdale, Florida; BharCap Partners of New York City; Riveter Capital of New York; and Interlock Equity of Los Angeles.
Continue reading “Ex-Audax Group MD launches private equity shop outside Boston”