The race to replace chief investment officers, the expansion of IR departments, the staffing up of newly launched PE firms––these were among the PE hiring trends this year that we expect to have staying power well into 2024.
Month: December 2023
Ex-L Catterton partner launches debut consumer fund
Update: On January 3 Forward Consumer Partners announced that it had closed its debut fund at $425 million.
A former partner at L Catterton intends to exploit a “clear gap” in the private equity industry by launching a debut fund targeting lower-mid-market consumer brands.
Greenwich, Connecticut-based Forward Consumer Partners is raising money for Forward Fund I LP, according to the latest Form D documents filed on December 12. Managing Partner Matt Leeds founded the firm in January following an eight-year stint at brand-building private equity heavyweight L Catterton.
Big Moves: CalPERS, The Monday Group, Rallyday Partners
The following Big Move! items appeared in the December 22 edition of Private Equity Career News:
Yup Kim, investment director of private equity at the California Public Employees' Retirement System, has been tapped to serve as chief investment officer of the Texas Municipal Retirement System. The $37.4 billion pension fund has a 10 target allocation to private equity, 12 percent to private real estate, 10 percent to private debt, 6 percent to private infrastructure, and 5 percent to hedge funds. "Farewell Sacramento. Hello Austin!" Kim wrote on a Linkedin post.
Female hiring jumps at junior level as controversy engulfs ESG
PE firms hired women at a higher percentage this year than in 2022 and 2021, particularly for junior positions, according to our annual PE Diversitometer benchmark. But the gains come amid a backlash against corporate efforts to embrace environmental, social and governance goals.
Continue reading “Female hiring jumps at junior level as controversy engulfs ESG”
Big Moves: Perella Weinberg, Jefferies, Trivest Partners
The following Big Move! items appeared in the December 15 2023 free edition of Private Equity Career News.
Jillian (Colbert) Alsheimer joins investment bank Perella Weinberg as a partner, according to her Linkedin profile. Alsheimer previously served as a managing director at Goldman Sachs.
Ex-Swander Pace, Amazon execs raise debut consumer fund
Sojourner Consumer Partners, co-founded by longtime executives at Amazon and at investment firms Pineridge Group and Swander Pace Capital, is raising money for its debut fund.
Tailwind loses IR partner to Quad-C Management
Caki Guinee has stepped down as an investor relations partner at Tailwind Capital after nearly 10 years to join Quad-C Management.
Guinee joins the Charlottesville, Virginia-based buyout firm about a year and a half after it closed its tenth flagship fund at $1.7 billion. The roughly 30-person firm has backed some 83 platform companies in business services, consumer services, consumer products, healthcare, industrials, specialty distribution, transportation and logistics.
Lindsay Goldberg launches sixth flagship pool
Mid-market buyout specialist Lindsay Goldberg has launched a sixth flagship fund earmarked to buy family and founder-owned companies.
The New York City-based firm disclosed the new fund, Lindsay Goldberg VI LP, in Form D documents filed on November 28. It is believed the fund, which has yet to make an initial sale, will be similar in scope to the team’s previous fund, Lindsay Goldberg V LP, which closed in 2020 after raising more than $3 billion.
Big Moves: Siguler Guff, Texas Municipal Retirement System
The following Big Move! items appeared in the December 8 free edition of Private Equity Career News:
Mike Apperley has stepped down as chief financial officer at the Austin, Texas based Texas Municipal Retirement System, sister newsletter LP Allocator News has learned. Apperley joined the $37.4 billion pension system in 2022 after earlier serving as assistant director-fiscal management at the Texas State Comptroller. Apperley was named CFO at TMRS in January.
Ford Foundation hiring private markets investment analyst
The Ford Foundation, which allocates about 43 percent of its $15 billion endowment to private investments, seeks an analyst for the private markets team.
The New York City-based nonprofit foundation’s portfolio of private investments includes private equity, natural resources and real estate.