LLR hires former CIA exec as operator

Former CIA chief technology officer Gus Hunt has joined the firm as operating partner.

LLR Partners has hired Gus Hunt, former chief technology officer of the Central Intelligence Agency, as an operating partner, according to a statement.

Hunt will help LLR evaluate new investment opportunities in the security, defence and government services sectors and will work out of the firm’s office in Arlington, Virginia. At the CIA, Hunt was responsible for setting the technology direction for the CIA’s missions and adopting new changes in the commercial technology sector. He retired in October after 28 years at the agency.

“Gus transformed the intelligence community's use of technology. He was the first to understand the value that commercial innovations could bring to the US government and led the adoption of game-changing technologies at the CIA, including the switch to cloud-based infrastructure,” Jason Rigoli, a principal at LLR, said in the statement.

Prior to the CIA, Hunt was an aerospace engineer in the private sector.

LLR’s security and government portfolio includes Medical Science & Computing, which services the federal healthcare market, and software security provider Cigital, according to its website. The firm has eight other operating partners, though Hunt is the first to focus on the security and government industry.

LLR closed its most recent fund on $915 million last year. Fund IV had an $800 million target and a $1 billion hard-cap, according to documents from the Pennsylvania Public School Employees’ Retirement System, which committed $200 million to the fund. PSERS also committed to LLR’s three prior funds.

Hunt is not the first former CIA executive to join a private equity firm. In May, Kohlberg Kravis Roberts brought on former US military general and CIA director David Petraeus to head the KKR Global Institute.

Philadelphia-based LLR invests in growth-oriented technology and service companies with between $25 million and $250 million in annual revenue. The firm has more than $2.4 billion in assets under management.