Alleghany Capital to hire three as it steps up investment pace

Alleghany Capital, which last month announced the formation of its eighth platform company, plastic parts maker Piedmont Manufacturing Group, has set its sights on hiring two pre-MBA associates as well as a manager of accounting.

Expanding its New York City-based core team from seven to 10, including eight investment professionals, and two finance executives, will help the buyout shop invest on its pace of some $200 million to $250 million in equity per year.

"That target continues to increase," said Principal John Daly (pictured), pointing out that the eight-year-old firm has performed "extremely well" for parent company and single LP Alleghany Corporation and in the process beaten its return benchmarks. "That's part of the reason we're striving to build out the team."

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Bertram Capital hires director of data science as it closes fourth fund; “Moneyball for portfolio companies”

Bertram Capital, which made a splash this week by announcing the closing of its fourth buyout fund at $940 million, also made a much quieter move with the hiring of William Mateker as director of data science for its Bertram Labs unit.

The materials scientist and engineer, who earned his PhD from Stanford University, recently served as director of data science and analytics at Ampush, a San Francisco company that provides software and data tools to help companies grow more quickly. I was unable to reach executives at Bertram Capital for comment.

It's not clear if the position is a new one. However, Ian Park, who earlier this year started as head of data at private equity firm and consumer specialist VMG Partners, previously served as manager of data science and strategy at Bertram Labs.

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Hiring strong as second half of 2021 approaches

Private equity firms are adding to their payrolls at a rapid clip, buoyed by strong institutional support for funds both old and new, and by a growing need for deal professionals, talent executives, and fundraising executives.

Bill Matthews (pictured), co-founder and partner at executive recruiting shop BraddockMatthews, called growth in private markets "white-hot," and pointed to his firm's recent work for two first-time funds raising tallies of between $800 million and $1 billion.

Indeed, Private Equity Career News has written about no fewer than 10 new firm launches this year. Those with hiring plans over the next several months include BharCap Partners, Datavest Partners, and Cypress Creek Partners.

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Shore Capital, Great Hill hire chief talent or people officers, fueling trend

Two more buyout shops, Shore Capital Partners and Great Hill Partners, have hired chief talent or people officers to oversee hiring at portfolio companies.

Joining Chicago-based Shore Capital last month as chief talent officer was Conor Leamy, previously a partner and head of the private equity practice at retained executive search firm True Search. For portfolio companies of the lower-mid-market healthcare, food and beverage-focused firm Leamy has responsibility for recruiting both executives and board members. It appears to be a new position at the firm, which also employs a talent analyst.

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One Rock’s hire signals push into debt strategies

The hiring of hedge fund founder Eric Yip by One Rock Capital Partners signals a bigger push into credit investing by the New York City buyout shop.

Yip has joined the New York City firm as head of debt strategies, according to his Linkedin profile. Prior to joining One Rock Capital, Yip served as managing partner, chief investment officer and portfolio manager at credit-focused hedge fund Alder Hill Management. Founder Yip wound down his $300 million hedge fund in late 2019 after making an errant bet against debt tied to the health of malls, according to the Wall Street Journal.

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Our favorite PE career pages and job boards

Private equity firms and their investors take a variety of approaches when it comes to advertising job openings on their Web sites.

On the one hand you have job-trumpeting firms such as Austin, Texas-based Vista Equity Partners. Its career page lets you search more than 4,000 open positions, including ones at the firm, its consulting group and its portfolio companies.

Among such firms, the easy-to-navigate search platform offered by Workday has become a popular choice for presenting job openings, our latest survey of career pages finds. Adherents include Ares Management, Bain Capital, and PSP Investments.

Continue reading “Our favorite PE career pages and job boards”

Origami Capital intends to hire pair of associates by summer’s end

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.

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New York City set to pay new PE head $250K to $265K

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.

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How to find job openings at Warburg Pincus? Still a mystery to me.

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.

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Pine Brook spin-out BharCap strengthens back office with senior hire

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.

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