Philip Lo joins GPI Capital to head fundraising; hints at hiring plans
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 Capital in 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.
GPI Capital is a relatively new firm that makes non-control, structured equity and growth equity investments in North American and European companies operating in consumer, technology and industrial sectors. The firm has offices in New York, New York and London, United Kingdom.
Lo said the GPI Capital team recruited him to “institutionalize the platform” in advance of raising more money and to help the firm scale. “They needed someone” who could position the firm and who has a rolodex of potential investors, Lo said.
The firm closed its debut fund in 2017 and has a portfolio of seven companies. Lo said that “there will be fundraising in due course” but declined to be more specific as to timing. As for hiring plans, Lo also held back specifics but would say, “There’s always opportunity because right now we are growing.”
All three members of GPI Capital’s senior team outside of Lo had previously worked at Brazilian financial services firm BTG Pactual, and before that, at Ontario Teachers’ Pension Plan. Managing Partner and Chief Investment Officer William Royan joined GPI Capital in 2014. Previously Royan had been CIO at BTG Pactual. Before that he was head of the non-control investing group at Ontario Teachers’.
Partners Khai Ha and Alex Migon joined in 2015 after serving as managing directors at BTG Pactual. Before that they worked on non-control investments with Royan at Ontario Teachers’.
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**** New Report! Have you thought about direct lending as a career? Find out what happened last month in this fast-growing market via this complimentary report from Direct Lending Deals and its founder Kelly Thompson.
**** Big Move!Alan Weinfeld joins as a partner at New York, New York-based Invesco Private Capital, which since inception has committed more than $4.5 billion to more than 900 private equity and venture capital funds. Previously Weinfeld was a partner at Gatewood Capital Partners, which helps to seed start-up private equity firms.
**** Big Move!Patricia Chalian joins as director, fundraising and investor relations at The Riverside Company in its New York City office; previously she was a principal at placement agency M20 Private Fund Advisors. For more on The Riverside Company's 2020 hiring spree head to my recent LinkedIn post.
**** Big Move!Roddy Marino joins Bala Cynwyd-based alternative asset manager Hamilton Lane as managing director-North American business development, according to his LinkedIn profile. Previously he was an executive vice president-national accounts and distribution at Brinker Capital.
**** New Job Forum! Looking for advice from another member of the PECN community? Head on over to the new Forums section of my blog site, and join the conversation! You'll find discussions on job opportunities and diversity. Let me know if you'd like to see others started.
**** Brandeis University of Boston, Massachusetts, seeks an associate director of investments to help manage a $1 billion endowment. In this role you'll help evaluate new investments and monitor existing ones across a diversified portfolio that includes public equities, hedge funds, private equity, real assets and venture capital. More here.
**** The South Carolina Retirement System Investment Commission, steward to more than $32 billion in pension assets, seeks a private equity professional to identify, evaluate and recommend both fund commitments and co-investments. The private equity allocation is earmarked for a variety of strategies, including venture capital, growth equity, leveraged buyouts and turnarounds. To qualify for the role you'll need at least five years of related investment experience. More here.
**** Stardust Equity, the New York, New York-based investment arm of a large single family office, seeks an investment associate to work on fund commitments and direct investments that have a positive societal impact. In this role you'll get involved in all facets of investing, from sourcing through portfolio management. More here.
**** The Balentine multi-family office seeks a family office and private capital manager to work out of its Atlanta, Georgia office. In this role you'll pitch in on client services; investment strategy development, including private capital; and asset management. More here.
**** iCapital Network, whose platform connects wealthy investors with private equity opportunities, seeks an associate or associate vice president to perform due diligence on private equity funds. In this role you'll help maintain a pipeline of funds either in market or coming to market. To qualify you'll need to have spent three or more years performing similar work. More here.
Top PE Shops Hiring
**** Ares Management Corp, New York, New York, seeks a vice president/principal-level product development and investor relations professional with a background in structured credit products. To qualify you'll need seven to 12 years of experience. Qualified candidates should contact executive recruiter Laurie Thompson.
**** Northlane Capital Partners, a Bethesda, Maryland-based mid-market shop, seeks a summer 2020 intern to help make investments in healthcare and business services. The five-partner firm has invested more than $1.4 billion since 2004. More here.
**** Revere Capital, a real estate debt investment firm based in Dallas, Texas, has an opening for a senior business development and fundraising professional. For this role you'll need to have experience raising money from family offices, wealthy investors and institutional investors. Qualified candidates should contact executive recruiter Laurie Thompson.
**** Vista Equity Partners, the Austin, Texas-based technology specialist founded by billionaire Robert Smith, seeks an analyst to join its two to three-year entry-level program. In this role you'll receive "immersive training and hands-on experience to develop valuation, due diligence and deal execution skills, as well as the best practices of portfolio company management." More here.
**** Hamilton Lane, the publicly traded alternative investments money manager based outside Philadelphia, Pennsylvania, seeks an associate-co-investments to evaluate, recommend and monitor investments made alongside general partners. You'll need at least three years of work experience--preferably two in investment banking or direct investing--and an "outstanding academic record." More here.
Who's Raising Money?--AKA a Frequent Prelude to Hiring
**** ArcLight Capital Partners of Boston, Massachusetts, wraps up a seventh fund earmarked for mistream and power infrastructure investments at $3.4 billion, according to this press release. Sales help came from Transpacific Group in New York, New York; Merrill Lynch in New York, New York; and Threadmark in London, United Kingdom. Try Karen Santosuosso, director of HR.
**** Grosvenor GCM of Chicago, Illinois raises $204.3 million for Grosvenor Emerging Manager Fund (US) LP, a fund of funds earmarked for up-and-coming private equity firms, according to a regulatory filing. A parallel fund appears to have secured another $272.6 million, according to this regulatory filing. Sales help for both comes from Merrill Lynch. Try Chief Human Resources Officer Sandra Buchanan Hurse.
**** Blackstone Group amasses $3.4 billion of the $4.6 billion it seeks for Blackstone Life Sciences V LP, earmarked for investments in late-stage drug development companies, according to a regulatory filing. Pitching in on sales: Compass Group Global Advisors, Korea Investment and Securities Co, Morgan Stanley Smith Barney, Snowbridge Securities and UBS Financial Services. Try Senior Managing Director and Global Head of HR Paige Ross.
**** Houston, Texas-based firm EIV Capital, an investor in mid-stream and downstream energy companies, secures $641 million of the $750 million it seeks for both a fourth fund and a sister top-up fund, according to a regulatory filing. Champlain Advisors is placing the pool. Try CFO and CCO Jill Stamets.
**** The Firmament Group, a New York, New York-based supplier of debt and equity to small businesses, seeks $125 million for Firmament Capital Partners SBIC III LP with help from placement agent Elm Capital Associates of London, United Kingdom, according to this regulatory filing. The firm was seeded in 2012 by the McLarty family office based in Arkansas. Try Christopher Smith, co-founder and president.
**** Performance Equity Management, a Greenwich, Connecticut-based manager of funds of funds and separate accounts, secures $104.3 million for Performance Direct Investments IV LP, according to a regulatory filing. The firm is getting sales help from Verity Capital Management in Aldgate, Australia and Crossbay Capital Partners in New Canaan, Connecticut. Try COO John Deklerk.
**** CMC Capital Group, which invests in media, technology and consumer companies from offices in Beijing, Shanghai and Hong Kong in China, raises $153.5 million with help from placement agent Credit Suisse, according to this regulatory filing. The firm has an opening for an associate, according to the career section of its Web site. Send your CV to email@example.com.
**** Carlyle International Energy Partners, which invests in oil and gas companies outside of the United States, raises $133.3 million for its second "energy access" fund with help from Merrill Lynch, according to this regulatory filing.
**** Declaration Partners, a New York, New York-based investment firm backed by the family office of The Carlyle Group Co-Founder David M. Rubenstein, is in the market with Declaration Partners Opportunity II LP, according to this regulatory filing. The firm is known for seeding new private equity firms, as well as for co-investing alongside other families in private equity and real estate.
**** One of the world's largest asset managers, BlackRock, raises $200 million from a single investor for BlackRock Secondaries and Liquidity Solutions LP, according to a regulatory filing. Try Manish Mehta, Global Head of HR.
Movers and Deal-Makers
**** Matt Allen joins retail specialist Leonard Green of Los Angeles, California as an associate, according to the firm's Web site. Previously he worked at Los Angeles, California-based Freeman Spogli.
**** Raj Chall joins the London, United Kingdom office of money manager Hamilton Lane as a principal to work on secondary investments, according to his LinkedIn profile. Most recently Chall had been a private equity portfolio manager at Kedge Capital.
**** Matt Chavez this month joins Boston, Massachusetts-based Advent International as an associate, according to his LinkedIn profile. Previously he worked on the Med Team at venture shop New Enterprise Associates.
**** Emmy Frenz joins lower-mid-market specialist Rotunda Capital Partners of Bethesda, Maryland as controller, according to her LinkedIn profile. Previously she was an accounting manager at private equity shop Arlington Capital Partners.
**** George Jovanoski joins the New York City office of Silicon Valley Bank as a director in its global fund banking division, which provides GPs with subscription lines of credit and related loans and services, according to his LinkedIn profile. Previously he was vice president-senior client executive at Sumitomo Mitsui Banking Corp.
**** Stephen Kretz has been promoted to principal at Corsair, the financially-focused private equity shop, according to the firm's Web site. Previously the New York City-based Kretz was a vice president.
**** Gregory Pelton last month became an associate director-energy at generalist Warburg Pincus, according to his LinkedIn profile. Previously he was an associate.
**** Verónica Stenner, working in Mexico City, Mexico, has been promoted to associate from analyst at Boston, Massachusetts-based Advent International, according to her LinkedIn profile. Stenner joined the firm as an intern in April 2017.