Invesco Private Capital has added Michele Serrao and Evan Darr to its private equity fund of funds investment team, now consisting of nine. Both Serrao and Darr were previously employed by wealth management firm Atlantic Trust, which shares Invesco Private Capital’s parent company Invesco.
Sarrao joins IPC as partner and Darr joins as senior associate, each focussing on sourcing and analysing partnership opportunities.
Sarrao managed Atlantic Trust’s $4.5 billion multi-manager program which invests in private equity funds, hedge funds, and private real estate. Darr was previously involved in private equity fund due diligence and performance monitoring.
The new hires follow the 2006 loss of three key IPC investment professionals including IPC head Parag Saxena. A spokesperson for IPC said at the time that the defections affected only the direct investment program and would not have an impact on the PE fund of funds group.
IPC manages roughly $3.7 billion in assets and invests mainly in venture capital and buyout funds. Past managers it has invested with include Candover, Accel Partners, Baring Private Equity Asia, Thomas H Lee and New Mountain Partners.