CCMP manager director to join Obama administration

Nancy-Anne DeParle, who will head up the White House Office of Health Reform, is the latest private equity executive to take a position in the Obama administration.

CCMP Capital managing director Nancy-Anne DeParle is stepping down to become the director of the White House Office of Health Reform, joining several other private equity players that President Barack Obama has recently tapped to advise his administration.

DeParle had focused on healthcare investments at CCMP and served on the boards of companies such as Boston Scientific, Medco Health Solutions and Cerner. She previously served in the White House during the Clinton administration’s attempts at healthcare reform, and later oversaw the creation of the State Children’s Health Insurance Program at the Department of Health and Human Services.

DeParle’s move follows in the wake of Steve Rattner’s departure from private equity firm Quadrangle Group, which he co-founded in 2000, to join the Department of the Treasury as an advisor on the automotive sector. His decision triggered a “key-man” clause by which the firm’s LPs in its $1.8 billion second fund can terminate its commitment period.

In early February, Obama also appointed Centerbridge Partners co-founder Mark Gallogly and John Doerr of Kleiner Perkins Caulfield & Byers to his newly established “Economic Recovery Advisory Board”, which will advise on growth and stability programmes.