Newbury Partners has hired Stéphane Chevrier as a managing director in its Stamford, Connecticut headquarters, according to a statement.
Chevrier will be responsible for the origination, execution and monitoring of private equity investments. It is unclear if he is replacing anyone at the firm. Newbury was unavailable for comment at press time.
“[Chevrier’s] history with transactions lends a unique perspective to the secondary market and its constituents–general partners, limited partners, and sellers active in the market, Newbury managing partner and founder Richard Lichter said in the statement.
Chevrier was most recently the managing partner of Equifin Alternative Investments, a private equity management firm for primary and secondary transactions. Prior to founding Equifin in 2010, Chevrier was a managing director at AXA Private Equity, which spun-out in March and rebranded as Ardian in September.
Newbury has more than $2.2 billion in assets under management and focuses on secondary market acquisitions. The firm is currently fundraising for its Newbury Equity Partners III fund, which has a $1 billion target. About $264 million had been collected as of August. Newbury’s second fund closed on $1.02 billion, surpassing its $800 million target, in 2010.