HIG managing director joins Highland Capital

Peter Cornetta, who had been with HIG since 2003, will focus on the $300m Highland Consumer Fund.

Highland Capital Partners, a US-headquartered early stage technology investor, has hired Peter Cornetta as a managing general partner.

Cornetta will be the firm’s third managing general partner, joining Ted Philip and Tom Stemberg, as well as five other members of the investment team.  It is unclear whether Cornetta replaces anyone.

He joins the firm from private equity firm HIG Capital, where he worked since 2003. He was a member of the firm’s leverage buyout group and a managing director in its Boston office and involved in all aspects of the investment process including deal sourcing and transaction negotiations, according to a statement.   

Prior to that, Cornetta was a principal at Advent International which he joined in 1999, according to his LinkedIn page. Cornetta has been on the boards of several companies, including: American Radiology Services, Captivate Networks, Farley Doors & Windows, Pro Pet, Resort Sport Network and The Spring Air Company.

With Cornetta’s “extensive M&A background”, Highland Capital adds a “critical asset” to its team, according to Stemberg, adding that Cornetta “understands the journey from first investment through rapid growth and ultimately an IPO or acquisition strategy”.

The Highland Consumer Fund invests in retail companies, both e-commerce and psychical stores, seeking growth capital. Some of its portfolio companies include: City Sports, Guitar Center and Pharmaca Integrative Pharmacy.