October 16, 2023 (Preqin News) – A round-up of last week’s people moves at LPs and GPs:
LPs
Peter Costello, Chairman of Australian sovereign wealth fund, Future Fund, has advised the Australian Government that he will not seek a third term in the role. A member of the House of Representatives from 1990 to 2009 and Treasurer of the Commonwealth of Australia from March 1996 to December 2007, Costello was appointed acting Chairman of Future Fund in January 2014, and Chairman in February 2014. He was reappointed as Chairman for a further five-year term from February 2019. Costello is a former chair of the G20 Central Bank Governors and Finance Ministers, the OECD Ministerial Council, the APEC Finance Ministers, and a Governor of the IMF, World Bank and Asian Development Bank. Future Fund was established in 2006 and currently has AUD 256bn of assets under management (AUM). News of the development was released by the country’s treasury ministry, which said it will now start the process to appoint a new Chair.
Third Swedish National Pension Fund (AP3) has appointed Jonas Thulin as its new Chief Investment Officer. Currently Head of Asset Management at Erik Penser Bank, Thulin will take up the role in January 2024. He replaces Pablo Bernengo, who is set to leave the firm. Prior to joining Erik Penser Bank, Thulin was Head of Asset Allocation, Head of Global Alpha Strategy and Head of Strategy and Research at Nordic bank, Nordea.
GPs
Global alternative asset manager ICG has appointed Sarah Faulkner to the newly created role of Chief Operating Officer, based in London. Faulkner spent the last 16 years at Goldman Sachs, where her roles included Treasurer of Goldman Sachs International and London Branch Manager of GS Bank USA. Previously she had roles at Lehman Brothers. The firm has also added to its European Client Relations team with the appointment of Patricia Wilkinson and Salim Jaffer as Managing Directors. Wilkinson was most recently a Partner at Sera Global, where she co-led the Project Management function across real assets for the firm’s Private Capital Advisory Business. She previously held senior roles at placement agent Threadmark and Arle Capital Partners. Meanwhile, Jaffer joins from PIMCO where he was most recently Senior Vice President and Product Strategist focused on alternative investment strategies. Both will be based in London.
Aviva Investors has appointed Angenika Kunne as Head of Infrastructure Equity, effective from January 2024. Kunne, who joins from White Summit Capital, will be responsible for portfolio management and asset origination activities for the Infrastructure Equity platform’s Climate Transition Real Assets Fund. She previously held senior roles at Jong Laing, focusing on the mid-market, renewables, and energy infrastructure. She spent more than 11 years at Macquarie Group, ultimately as Senior Vice President, leading its digital infrastructure capabilities. Kunne will be based in London.
Kentucky-based private equity firm, MiddleGround Capital, announced that Christopher Speight has joined the firm as a Partner. Speight joins from animal nutrition company Alltech, where he was most recently Chief Financial Officer. His previous roles include leading Deutsche Bank’s global agribusiness investment banking coverage, and in the Merrill Lynch’s consumer group. He will be based in Lexington.
French asset manager Carmignac has appointed Edouard Boscher as its first Head of Private Equity. Based in Paris, Boschard was most recently Chief Operating Officer of Investor Relations at Ardian, formerly AXA Private Equity, which he joined in 2002. Carmignac recently entered into a strategic partnership with Clipway, a new private equity firm specialising in secondaries.
Atlanta-based real estate investment manager, Noble Investment Group, has appointed Kamara Batchelor as Director of Fund & Corporate Accounting. Batchelor joins from consultants One10 which focuses on small to mid-size businesses in real estate, private equity, and fund management.
A Certified Public Accountant, Batchelor previously spent over nine years with PricewaterhouseCoopers.
Private equity firm One Rock Capital Partners has named Christine McClure and Thierry Morin as Operating Partners. McClure was most recently regional Chief Financial Officer of the Americas at global design and build firm Unispace. She previously held senior roles at National Grid, UNFI and Clean Harbors Environmental Services. Morin will be the firm’s first France-based Operating Partner. He was most recently Chairman and CEO of automotive supplier Valeo. He is also currently Chairman of the Supervisory Board at workwear firm Elis.
Renewable energy asset manager, Greenbacker Capital Management, has expanded its private equity investment team. Rahul Bhalodia has been appointed Managing Director of the Greenbacker Development Opportunities strategy, for which he will co-lead origination, execution, investment management, and capital raising. Prior to joining Greenbacker, Bhalodia held roles at CPP Investments and Goldman Sachs. The firm has also appointed two new associates: Lea Beylot-Lacroix joins from investment bank CohnReznick Capital where she was responsible for financial modeling, due diligence, and transaction management for renewable energy project finance and M&A transactions. Rushabh Nahar joins from Riverbend Energy Group, where he focused on financial modeling, due diligence, and origination of opportunities in energy transition.
San Diego-based private equity firm, Seaside Equity Partner, has appointed Keith Collins as Managing Director on its investment team. Collins was most recently a Director at GI Partners in San Francisco. He has previously held roles at Leonard Green & Partners, Bank of America and Wachovia. Meanwhile, Tom Moore joins as a Senior Associate from Cerberus Capital Management. He previously worked at Lazard in New York.
New York-based principal investment firm, Garnett Station Partners, announced the appointment of Fernando Machado as Senior Advisor. Machado is currently Global Chief Marketing Officer for food tech startup NotCo. He was previously Chief Marketing Officer at Activision Blizzard and at Restaurant Brands International. Prior to that, he was at Unilever for 18 years, ultimately as Vice President of Global Brand Development.
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