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David Lorch has stepped down as managing director on the supply chain investment team at Cerberus Capital Management to join the United States Department of War.
In his new role Lorch will serve as director of the office of strategic capital. Authorized by Congress last year, the new office helps to finance the development of supply chain technologies used in national security. It provides both direct loans and fund-level leverage through the SBIC Critical Technologies Initiative.
Harrison Davis has left as partner at New York City-based buyout firm TZP Group to join mid-cap firm H.I.G Capital as a managing director for its Miami office. The move is one of several recent departures from prominent PE firms or investors.
Three senior executives have left New York City-based alternative investment firm Cerberus Capital Management in recent weeks, including two that worked for its technology consulting arm.
No longer at the firm are Pavan Arora, previously chief technology officer and managing director for Cerberus Technology Solutions and Scott C. Johnson, previously managing director of business development for the same subsidiary. Meantime, Pankil Doshi has stepped down as managing director on the real estate private credit team at Cerberus Capital Management. Private Equity Career News confirmed the departures either from bounce-back emails or Linkedin profile updates.
Perhaps it was inevitable. PE firms have put so much emphasis on building up their consulting arms, portfolio support groups and operational expertise that in some cases their executives are moving to non-investment companies.
The following Big Move! items appeared in the June 21 edition of Private Equity Career News
Big Move! Michael Burgos joins the Cystic Fibrosis Foundation as director of investments, according to his Linkedin profile. Burgos most recently served as a private equity investor at money manager StepStone Group.
At least three managing directors at Cerberus Capital Management, one who led industrials deal-making, two others who worked on fundraising and investor relations, have left the value investor over the last several months for new roles with different firms.
The following Big Move! items appeared in the January 26 free edition of Private Equity Career News.
Ravi Ugale (pictured) joins New York City-based private credit, private equity and secondary investor Star Mountain Capital as a managing director, according to his Linkedin profile. Ugale most recently served as managing . . .
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.
Former BlackRock Managing Director Deirdre O’Connor has joined Cerberus Capital Management as chief financial officer, a hiring that boosts the number of women in senior leadership at the firm and follows a string of recent hires.
Former U.S. Navy SEAL Louis Bremer, most recently managing director at Cerberus Capital Management, is launching a new private equity firm called Windage Partners.
Bremer serves as chief executive officer of the Dallas-based middle-market firm, which invests in aerospace, defense, government services and industrial markets, according to its LinkedIn profile. In 2020, then President Donald Trump announced plans to appoint Bremer as assistant secretary of defense for special operations and low-intensity combat. However, he did not end up taking the role.