Calera Capital appoints senior managing director

Calera Capital has appointed Paul Walsh a senior managing director in its Northern California office.

Walsh has worked at Calera for the last seven years as an operating partner and held various managerial positions at the firm’s portfolio companies, the firm said.

Calera invests between $35 million to $200 million in businesses with enterprise values up to $750 million. Founded in 1991 and formerly known as Fremont Partners, Calera’s managing partners James Farrell and Mark Williamson oversee the firm’s investment activities. The firm has put more than $2.8 billion to work since its inception.

The fund manager closed its last fund Calera Capital Fund IV in 2009 at $700 million. The fund drew commitments from the Charles Stewart Mott Foundation, Oklahoma Police Pension and Retirement System, Allstate, Twin Bridge Capital Partners and the Bill and Melinda Gates Foundation, according to PEI Research & Analytics.

In June, Calera sold its stake in employee background screening company SterlingBackcheck to Goldman Sachs’ private equity unit and La Caisse de dépôt et placement du Québec after owning a majority stake in the business for five years.

Prior to joining Calera in 2008, Walsh served as the chairman and CEO of Minnesota’s eFunds from 2002 to 2007.

Walsh management positions at several financial services companies include at BancOne Diversified Services, Norwest Capital Management and Trust, and Diners Club Germany. The Calera executive also sits on the boards of Calera portfolio company Competitor Group as well as Staples.

The appointment comes at a time when Calera has filed with the Securities & Exchange Commission to raise its fifth fund, with an undisclosed target.