Ex-Advent, Centerbridge, KKR execs build new firm

The outlook for start-up private equity shops remains bright, and Cross Rapids Capital LP is attempting to make its mark in middle-market private equity and special situations deals.

The New York City-based firm, with an appetite for industrial and services companies, has brought aboard Benjamin Gaw Jr as partner and head of portfolio operations. Gaw most recently served as senior director of portfolio operations at Boston-based buyout giant Advent International, according to his Linkedin profile; before that he served as senior vice president and head of Asia portfolio operations at Los Angeles-based Platinum Equity.

Information on Cross Rapids Capital remains scarce, any fundraising or hiring plans a mystery. The firm appears to have been founded last summer by its managing partner, Kyle Cruz. For nearly 13 years Cruz worked at New York City-based Centerbridge Partners, known for its private equity, special situations and real estate investing. His most recent title was partner, senior managing director, according to his Linkedin profile. Gaw declined to comment for this article, and I was unable to reach Cruz for comment.

Also onboard are Partner Mina Spring, previously a director at Interlink Maritime Corp, and CFO and Partner Mark Feirman, most recently director of private markets operations at KKR & Co.

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