Paul Capital launches co-investment business

San Francisco-based Paul Capital Investments has hired Dana O’Brien, a Cornerstone Equity co-founder, to lead a New York-based programme for co-investment alongside the firm’s GP relationships.

Paul Capital Investments, based in San Francisco, has launched a co-investment platform and hired Dana O’Brien to lead the effort.

O’Brien joins the firm from New York-based Cornerstone Equity Investors, a New York middle-market buyout firm. He was a co-founder of the firm and had worked there for 22 years.

The new co-investment programme will “leverage Mr. O’Brien’s and Paul Capital’s extensive general partner relationships and years of private equity investment expertise.

Paul Capital Investments, which manages funds-of-funds, is an affiliate of Paul Capital Partners, best known for its secondary funds and healthcare royalty investment group.

Paul Capital Investments last year joined forces with Bank of Ireland to grow a fund management business.

David York, managing director at Paul Capital Investments, said in a statement: “Paul Capital is a global private equity platform with scale, including a broad set of unique and well regarded funds. I cannot think of a firm better positioned to launch a co-investment product.”