GI Partners hires first-ever operating principal

The $12bn firm has hired Achi Yaffe from Lee Equity Partners to lead its value creation activities.

GI Partners has appointed Achi Yaffe as its first operating principal, the firm said.

Yaffe will lead GI’s value creation work, focusing specifically on increasing the firm’s support of its portfolio companies. He will be based in San Francisco.

Yaffe was previously a principal at Lee Equity Partners in New York for over five years, helping portfolio companies develop business plans and execute strategic initiatives, GI said. Prior to that, he was an engagement manager at McKinsey & Company at its Los Angeles office, director of global financial services operations at eTelecare Global Solutions and business analyst at McKinsey, according to his LinkedIn profile.

“We continue to build our team to meet the needs of our firm moving forward, and the next step we needed to take was hiring our first operating principal,” GI founder and executive managing director Rick Magnuson said in a statement.

GI Partners manages over $12 billion in assets, the firm said.

It closed its GI Partners Fund IV on its $2 billion hard-cap in April 2014, surpassing the $1.5 billion target, according to PEI’s Research & Analytics division. Investors in the fund include Danish pension fund PKA, Oregon State Treasury, Washington State Investment Board and Florida State Board of Administration.

The fourth fund’s portfolio includes data centre solutions company peak 10, healthcare info-tech company Logibec, facilities management services company KBS and software applications provider MRI software, according to GI’s website.