Commonfund Capital, the private equity, venture capital and natural resources unit of $25 billion investment manager Commonfund, has named Donald Pascal as president.
Formerly a managing director at the group, Pascal has been with Commonfund since 1998 and is also co-head of venture capital. He will take over responsibilities from existing president and chief executive officer Susan Carter, who will continue in her role as CEO. Prior to joining Commonfund, Pascal worked at private capital firms Victory Ventures, Noel Group and The Prospect Group.
Commonfund Capital has raised eight US-focused private equity fund of funds, its most recent collecting roughly $225 million in 2012, and seven international private equity fund of funds. The group’s most recent venture capital-focused fund of funds collected more than $500 million in 2012. The firm is in the process of raising its ninth private natural resources fund of funds.
Commonfund Capital also manages a number of multi-strategy funds and separate customised accounts, managing a total of more than $13.5 billion of commitments from endowments, foundations and pension funds.
In May, the group hired Cari Lodge, a director within Tulane University’s investment management office, as a director to oversee the firm’s growth and management of secondaries. The hire marked the third addition to Commonfund Captial this year. In January, the group bolstered its private equity and venture capital investing teams by re-hiring Tim Yates as a managing director to lead the customised private equity mandates division and oversee Latin American managers. It also hired former Portfolio Advisors professional Dave Jensen as an associate director focused on private equity.
Commonfund Capital’s private equity team now includes 23 investment professionals.