Dayton Carr, one of the first to recognize the potential in buying limited partnership interests on the secondary market, died early last month at his home in New York City at the age of 78.
“He was totally passionate about secondaries,” said David Tom, a managing director at VCFA Group, the firm Carr founded in 1982. “He couldn’t understand anyone who didn’t think that it was the greatest idea ever. To him it made so much sense to buy [interests in] funds later and cheaper.”
The cause of death was a heart attack, said Tom. Married and divorced twice, Carr did not have children and is survived by his brother Brian Carr.
So many wonderful relationships in private equity fall apart at the starting line.
An executive recruiter calls you about a job opportunity. You’re happily settled in a lucrative position. In a moment of pique you respond–curtly–that you’re not interested. The executive recruiter makes a note that future contact with you may prove unrewarding.
By the same token, you may recall past job searches where you emailed executive recruiters. You thought they would jump at the chance to help you. But little came of the outreach and you concluded that it was a waste of time.