Intermediate Capital Group, the London-based asset manager with $46 billion in AUM, this week announced three senior additions to its start-up mid-market private equity team based in New York City. It also launched a search for an analyst/associate to provide them with junior-level support.
Climbing aboard the team led by Senior Managing Director Alan “AJ” Jones are senior members Uzair Dossani, Evan Eason and Kevin Gregory. Dossani most recently was a partner at Harvest Partners, where he specialized in backing chemical, industrial, logistics and packaging companies.
Eason was a partner at Olympus Partners specializing in business services, financial services, consumer, and industrial companies. Gregory most recently led the healthcare practice at Aquiline Capital Partners, while also covering financial services and business services for the firm.
Will Riedlinger has started a new firm to help emerging managers, both U.S. and European, raise their early institutional funds.
Late last year Riedlinger launched placement agency WHR Capital based in New York City, PECN has learned. The firm plans to help spin-out groups and other young firms raising funds of $150 million to $300 million or so. Investment strategies of interest include private equity, private credit, pharmaceutical royalties, music royalties, aircraft leasing and turnarounds.
Over the previous year Riedlinger had served as head of institutional sales-Americas at Global Founders Capital, the seed-stage and growth-equity arm of Berlin, Germany-based Rocket Internet.
Philip Lo this month joined minority-stake and growth equity investor GPI Capital as managing director-investor relations and business development. In an interview with PECN this week Lo said he sees fundraising in the firm’s future, as well as an opportunity for hiring.
Lo most recently served as managing director of investor relations at fast-growing tech specialist Siris Capital, which last year closed a fourth fund at $3.45 billion. Lo was a founding member of the investment team, joining them at hedge fund manager SAC Capitalin 2007, four years before they spun out to form Siris Capital.
Siris Capital quickly became a fundraising force, adding some $6 billion in committed capital to its war chest as well as offering equity co-investments to consummate larger transactions. About five to six years ago, Lo switched from the investment team to investor relations in part to take charge of the co-investment syndication process.
For those not yet convinced that the private-equity recruitment market is on fire consider the bullish hiring plans of the executive recruitment firms themselves.
Nearly two-thirds of those responding to a survey conducted over the last few weeks by Private Equity Career News said that they anticipated adding one or more people to their private equity practices this year. Just 38 percent said they planned to hold steady. None said they anticipated cutbacks.
The reason is simple: an influx of work. Nearly half (49 percent) said they anticipated handling 10 to 25 percent more private-equity related assignments this year than in 2019. Nearly a third (31 percent) said they anticipated handling up to 10 percent more. Seventeen percent anticipated handling more than 25 percent more. Just one respondent anticipated handling fewer private equity-related assignments this year.
All told 37 executives responded to these and other market-trend questions in my survey. Look for the full results to be published later this year in the executive summary of our forthcoming Guide to PE Executive Recruiters.
Patina Solutions, which fills talent gaps at companies with consultants, interim executives, and permanent executives, has brought aboard Joseph G. Solari III as managing director-private equity solutions to expand its business with New York and other East Coast private equity shops.
Pointing to Patina Solutions’s network of more than 26,000 seasoned executives ready for assignments on short notice, Solari said he plans to help private equity firms find “those needle-in-a-haystack-type [executives] who can be extraordinary helpful” in both pre-deal due diligence and post-deal execution.
From 2013 to 2019 Solari (pictured) worked at lower-middle-market specialist Saugatuck Capital Company of Shelton, Connecticut. Most recently he served as managing director and partner. Along with his role at Patina Solutions, Solari serves as founder and partner at start-up Greenwich Private Investments. The private investment vehicle makes debt and equity investments in companies in a variety of industries.