JC Flowers has hired former Clayton, Dubilier & Rice managing director Eric Rahe as a managing director in the firm’s New York office, according to a statement.
Rahe has been a managing director at CD&R since 2008. He was previously a partner at financial services-focused private equity firm Capital Z Partners and a senior investment professional at hedge fund SAB Capital. Rahe also worked at investment bank Donaldson Lufkin & Jenrette.
JC Flowers declined to comment.
JC Flowers is a private investment firm focused on the financial services industry led by managing director Christopher Flowers. The firm’s third private equity fund raised about $2.3 billion on a $7 billion target in 2009. JC Flowers’s prior fund raised $7 billion in 2006.
Last May, JC Flowers lost its head of investor relations, managing director Jordan Robinson, to New Jersey-based Energy Capital Partners, Private Equity International reported. Robinson was replaced by former Macquarie executive Deborah Park last fall.
Founded in 1988, JC Flowers has invested more than $14 billion in the banking, insurance, reinsurance, brokerage and specialty finance subsectors. The firm has offices in New York and London.