Pine Brook Partners has hired Guillermo ‘Bill’ Bron as a managing director on the firm’s financial services investment team, according to a statement.
Bron is the chairman of the board of Pine Brook portfolio company, United PanAMm Financial Corporation. He previously founded Bastion Capital, the first private equity fund primarily focused on the US Hispanic market. Prior to Bastion, Bron led the Latin American Corporate Finance Group at investment bank Drexel Burnham Lambert and worked at the World Bank’s International Finance Corporation.
“[Bron] brings a proven investment record and extensive contacts as we look at opportunities in the underserved Hispanic market in the United States and Latin America”, William Spiegel, Pine Brook co-founder and head of the financial services investment team, said in the statement.
Bron’s addition brings Pine Brook’s total number of managing directors to 14, according to its website. In the financial services group, Bron joins Spiegel and managing directors Rob Glanville, Oliver Goldstein, Lawrence Marsiello.
New York-based Pine Brook is raising its second growth equity fund, Pine Brook Capital Partners Fund II, which had collected $2.2 billion as of last week, according to pension documents. Fund II has a $2 billion target and a $2.5 billion hard-cap and is expected to hold a final close before the end of the first quarter 2014, Private Equity International reported.