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Q3 GP Moves: Blackstone, KKR Hired MDs; VCs Expand Globally

by trusted insight posted 5years ago 2442 views
Venture Capital

Last week, Trusted Insight published a roundup of Q3 hires and retires in the limited partner (LP) circle. Yet equally important are hiring and firing activities on the general partner (GP) side, as they directly invest capital for and therefore affect the bottom lines of LPs.

Overall, the asset manager world was less busy than that of asset allocators in Q3, but private equity and venture capital firms have had a few big moves to note: Blackstone appointed a new head to lead its European portfolio, and KKR hired a new managing director to boost its infrastructure investments.

On the venture capital side, new partners and CIOs were added at firms from San Francisco to London to New Zealand. Notably, Comcast Ventures’ principal left to return to his old boss Cisco Systems.

Here are the 10 notable general partners who changed firms in Q3 2016:

Blackstone appointed Marc Bolland as head of European private equity portfolio operations. Bolland is a seasoned chief executive in household brand firms, including Marks and Spencer, Morrisons and Heineken. He officially took over the role on September 19.


Comcast Ventures’ principal Matthew Carbonara quietly left the firm to rejoin Cisco Systems. Carbonara was with Cisco from 2011 to 2013 before joining Comcast Ventures. He rejoined Cisco as a member of its corporate development and investments group. While with Comcast, Carbonara’s deals included AtScale, Zoomdata and DataStax.


London-based Eight Roads Ventures hired former Softbank China Venture Capital partner Joe Chang to lead its china ventures team. The appointment closely followed two other star hires of Michael Treskow from Accel and Rohit Krishnan from McKinsey & Co, speeding up Eight Roads’ global expansion. Eight Roads was founded in 2015 as a proprietary investment arm of Fidelity International Limited.


Tara Davies, a former managing director at Macquarie Group, joined KKR as a managing director of its global infrastructure team. Davies has more than 17 years experience in the global infrastructure industry in both Sydney and London. KKR said the addition will further expand its global infrastructure platform, an area the firm has committed $4.5 billion in equity investment.


Z Capital Group, LLC., an asset management firm with approximately $2.2 billion under management, hired Sean Maddock as managing director and operating partner. Maddock is a seasoned executive in the hospitality and luxury hotel business, with more than 30 years in the industry. He will join Z Capital’s private equity team and oversee portfolio company initiatives including international luxury hotel and destination resort management.


Sunshine Capital, Inc., a Las Vegas, Nevada-based real estate company, named venture capitalist and stock market magnate Adam T. Petty as the new president and CEO. Petty will help execute Sunshine’s private acquisitions using the newly created cryptocurrency DIBCOIN. The company said the use of DIBCOIN will eliminate debt or capital dilution to the company’s shareholders.


In the wake of CEO Manny Roman’s departure in July, alternative assets manager Man Group named two co-interim CEOs Mark Jones and Luke Ellis. In September, the firm named Jones CFO while Ellis took over as sole CEO. The firm also hired Sandy Rattray, CEO of Man Group’s quantitative strategies business AHL, as chief investment officer.


Spark Ventures, the venture capital arm of New Zealand telecom giant Spark, hired Ed Hyde as the new CEO to replace Rod Snodgrass. Hyde officially assumed the role on October 1. He  joined Spark in 2006 and previously led Spark’s newly launched big data analysis service Qrious.


London-based venture capital firm C5 Capital said it named former Intel Capital Managing Director Marcos Battisti as a partner and head of its new $150 million C5 Cloud Partners Fund. C5 Capital is a technology-based investment firm specializing in cybersecurity, data analytics, cloud computing and assistive technologies.


San Francisco-based Industry Ventures added Nate Leung as vice president and Justine Huang as associate to its investment team. Leung previously worked at Bain Capital Ventures and The Boston Consulting Group, and Huang most recently was an equity research analyst at Goldman Sachs. Industry Ventures currently has $3 billion of institutional assets under management.


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