Atlantic-Pacific brings in Lehman’s Newman

The fund placement boutique has appointed Kevin Newman, former head of the placement team at Lehman Brothers, as president and COO.

(PrivateEquityCentral.net) Atlantic-Pacific Capital has named Kevin Newman, the lead marketing professional for Lehman Brothers’ private equity group, as president and chief operating officer of the Greenwich, Connecticut-based independent placement agent.

Newman has resigned from Lehman Brothers after leading the in-house placement group there since 1999. His first day at Atlantic-Pacific was April 1.

Atlantic-Pacific was founded in 1995 by James Manley, a former managing director at Everest Capital. Manley remains the firm’s chairman and chief executive officer. It is now the largest independent alternative investment placement agent, according to a statement. The firm now has 23 professionals and offices in Greenwich, Chicago, New Jersey, Dallas, San Francisco, London and Hong Kong.

Newman’s placement career began in 1977 when he became co-head of private placements at First Boston, which later became Credit Suisse First Boston. In 1993 he became head of capital markets at Trust Company of the West.

“The firm is delighted to have a professional of Kevin’s proven caliber and reputation join our team,” said Manley in the statement. “Over his career, Kevin
has raised over $36bn of private equity funds and other structured equity products and is widely considered to be one of the most accomplished professionals in our industry.”

Atlantic-Pacific recently helped industrial buyout firm The Jordan Co. raise $1.5bn for its debut third-party fund. Atlantic-Pacific also represented distressed debt specialists MatlinPatterson in the raising of $2.2bn after spinning out of CSFB last year.

In related news, former DB Capital Partners North American head Charlie Ayres has joined Lehman to help the firm raise a new merchant banking fund, according to a report in the Daily Deal. Ayres was part of a team of DB Capital professionals who spun out of Deutsche Bank to form MidOcean Partners, a New
York-based private equity firm.

The placement business has seen great upheaval in recent months. Many firms, especially those tied to investment banks, have suffered turnover and layoffs as fund-raising statistics have fallen. Most large financial services conglomerates are in the process of scaling back from private equity. In February, nine professionals left Merrill Lynch’s once-dominant placement business to join financial boutique Lazard Freres.