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Yes, institutional investors say they want to back firms founded by women and minorities. Yes, ESG principles are spreading among investors and fund managers. No, it is not easy for women and minorities to raise their first funds.
But Toronto-based Vertu Capital, founded by Lisa Melchior, and Chicago-based 5th Century Partners, co-founded by Black Americans Bruce Hampton, Jessica Patton and Marques Torbert, seem to be making good progress.
The alternative asset management arm of insurance giant Zurich Insurance Group has an opening for a managing director and head of private equity to join its New York City Office.
The successful candidate would join a 30-investment-professional team that invests on behalf of Zurich affiliates in hedge funds, private equity and U.S. real estate. Altogether Zurich Insurance Group had $345.5 billion in investments on its balance sheet as of year-end.
Walton Enterprises, the family office of Walmart founder Sam Walton and his wife Helen Walton, is on the hunt for a new director of investments to join its Washington, DC office. Reporting to senior directors, the director will participate in all aspects of managing a multi-asset class investment portfolio, from developing investment policies to managing day-to-day transactions.
According to a profile from the Sovereign Wealth Fund Institute, Walton Enterprises currently has $169.2 billion in assets. An article from 2019 states that the Walton family has approximately $2 billion invested in private equity, venture capital and hedge funds, although it is unclear how much of that is controlled by Walton Enterprises.
Private equity firms are bringing aboard just about one woman for every two men this year across all roles and levels, according to a large sample of U.S., Canada and U.K. hiring analyzed by Private Equity Career News. It suggests progress on the industry’s belated march toward gender diversity.
The industry, moreover, appears to be making headway in drawing more African-Americans into its ranks. A review of the same sample finds that roughly 5 percent of new hires this year by private equity firms are African-American, with junior hires at 6 percent, mid-level at 5 percent and senior at 4 percent.
Continue reading “PE shops hiring one woman for every two men this year: survey”
The California State Teachers' Retirement System, steward to a $40 billion+ private equity portfolio, has opened a search for an investment officer to analyze and underwrite co-investments, secondary investments and other opportunities.
Based in Sacramento, the new "Investment Officer III" would be joining a team of some three dozen professionals dedicated to managing the private equity portfolio, which includes exposure to buyouts, growth equity deals, private credit, and venture capital.
Natalie Leone has joined New York City-based buyout shop Centerbridge Partners as managing director of portfolio talent, a role that is becoming de rigueur for large and mid-sized buyout shops.
Leone, who previously served as global head of HR business partners at money manager BlackRock, according to her Linkedin profile, appears to be taking the reins from Andrea Nunes, who served in the same role through June. Nunes's Linkedin profile says she is "on sabbatical," as well as "experimenting and exploring."
I was unable to reach Leone for comment by press time.
El Segundo, California-based Meaningful Partners came within a whisker recently of hiring a female senior associate.
It would have been a pivotal hire for the consumer-focused investment firm, which has put "empowering positive purpose" at the center of its mission. The firm's first five investment professionals, while from diverse backgrounds, are all male.
"We are [eager] for a female perspective around the investment table--period, full stop," said Jake Capps, managing partner and co-founder. But the promising candidate opted to go to business school instead.
Influential buyout and growth equity shop Madison Dearborn Partners hires Chris Trendler as its first managing director and head of portfolio talent, according to a LinkedIn post.
Trendler joins the firm following a nine-year stint at Chicago-based human capital consulting firm ghSMART. Most recently he served as a partner, advising investors, CEOs and board members on talent issues.
A much sought-after role of vice president of business development has opened up at Miami, Florida-based Boyne Capital, Private Equity Career News has learned. The firm also has an opening for a VP-level professional to support portfolio operations.
With the departure of Derek Wardlaw for Bloomfield Hills, Michigan-based O2 Investment Partners, Boyne Capital seeks a full-time replacement to drum up "a consistent pipeline of new deal flow among lower middle market companies," according to the job description.
Jordan Robinson has been named managing director and head of investor solutions in the asset management division of ORIX Corporation USA, Private Equity Career News has learned.
Robinson previously served in a number of private equity fundraising and investor relations roles in his career, according to his Linkedin profile. Most recently he served as a partner for investor relations and transaction syndication for Fairview Capital Group, a New York City-based advisor on GP-led secondary deals.