Corinthian grabs Lincolnshire MD

With tensions already high between Corinthian Capital and Lincolnshire Management, Corinthian has poached another pro from Lincolnshire, hiring James McNair, which was made official earlier this week.

Corinthian Capital, the New York-based spinout spawned by former Lincolnshire Management founder Steven Kumble, continues to fill out its roster with ex-Lincolnshire executives. Most recently, the firm hired James McNair, who had been a managing director at Lincolnshire and had headed the firm’s Chicago office.

Steven Kumble, founder, Corinthian Capital

Corinthian, which has tapped Bear Stearns placement agent group to begin fundraising, came about when Lincolnshire vets Steven Kumble, Kenneth Clay and Peter Van Raalte departed earlier this year to launch a rival mid-market focused buyout group.

Prior to his departure, Kumble had been the last remaining founder to still occupy Lincolnshire offices. He had co-founded the firm in 1986, along with Frank Wright, Hugh Carey and Leonard Stern. Eventually Kumble ceded control of the firm to TJ Maloney, who now sits as the head of Lincolnshire.

McNair’s departure follows other notable Lincolnshire defections. In addition to those involved in the Corinthian spinout, Drew Shea, Jeffrey Muti, John Camp and Thomas Ley have all also departed in recent years.

Prior to working at Lincolnshire, McNair had served as president of McNair, Reed & Co. and spent time at Jordan Industries, where for eight years he served as head of the firm’s business development group. He also put in stints at Drexel Burnham Lambert and Manufacturers Hanover Trust Co.

The loss of McNair to Corinthian could likely create more bad blood between the two groups. Corinthian’s launch is already coming against the backdrop of a legal squabble between the warring parties, as the Corinthian pros have filed a lawsuit against their old shop concerning elements of Kumble’s transition agreement, while Lincolnshire responded with a countersuit.