GTCR promotes three into newly-created positions

Chicago-based growth equity firm GTCR promoted two to managing director and one to principal.

Growth equity firm GTCR has promoted three people into newly-created positions as it adds to its team of managing directors and principals, a spokeswoman told PEI.

Chicago-based GTCR promoted Benjamin Daverman and Lawrence Fey to managing directors from principals, and Stephen Jeschke to principal from vice president, according to a statement.

Daverman joined GTCR in 2008 as a vice president, according to his LinkedIn profile. Before joining the firm, he was an associate at life science venture capital firm Alta Partners in San Francisco. He began his career as an analyst at JPMorgan, according to LinkedIn.

Fey joined GTCR in 2005 as an associate, according to his LinkedIn profile. He became vice president at the firm in 2008 and principal in 2012.

Jeschke began his career as an associate consultant at Bain & Company, then joined Bain Capital, the investing arm of Bain & Company, where he was a vice president between 2005 and 2011, according to his LinkedIn profile. He joined GTCR in 2011 as a vice president.

GTCR declined to comment further on the specific responsibilities of their new roles.

Founded by Stanley Golde and current Illinois governor Bruce Rauner in 1980, GTCR invests in the financial services and technology, healthcare, TMT, and growth business services sectors. It currently has 23 active investments in portfolio companies, including financial brokerage and trading services provider Convergex and outdoor advertising company Fairway, according to GTCR’s website.

GTCR’s latest fund, GTCR Fund XI, closed in 2014 on $3.85 billion, above its $3.25 billion target, according to PEI data. Investors in that fund include the Iowa Public Employees’ Retirement System, Massachusetts Pension Reserves Investment Management Board, Washington State Investment Board, and HarbourVest Partners.

GTCR manages $8.25 billion in assets, according to PEI data.