Brazos names head of business development

The Dallas, Texas-based firm has named former Goldman Sachs executive Glenn Askew managing director of business development. Askew joined Brazos in 2004.

Dallas-based mid-market investor Brazos Private Equity Partners has named Glenn Askew managing director of business development, a new position at the firm.

His responsibilities will include leading the Brazos' deal sourcing activities and working with the firm’s investment banking, advisory and other intermediary relationships. Askew was formerly a managing director at Brazos responsible for investments in the healthcare, food and beverage and industrial distribution sectors. He joined the firm in 2004 after working at Goldman Sachs for five years, where he advised on transactions in the consumer products, business services, retail and industrial sectors.

“[Askew] has been successful as an investor, understands our investment strategy and sourcing network as well as anyone at the firm and is very strong in building relationships and networking,” Brazos co-chief executive officer Jeff Fronterhouse said in a statement.

Brazos’ third fund, which closed on $700 million in 2008, invests in companies valued between $50 million and $400 million in the manufacturing, consumer, healthcare, distribution and financial services sectors. The fund focuses particularly on family-owned companies located in the US’ southwestern region. Limited partners in Fund III include the Employees’ Retirement System of Texas and Denmark-based ATP Private Equity Partners.

Brazos manages approximately $1.4 billion of equity capital. The firm has current investments in road and safety markings manufacturer Flint Trading and electronic security distribution company Tri-Northern Security.