Pine Brook hires DE Shaw private equity co-head

The former co-head of hedge fund DE Shaw’s North American private equity team will be responsible for managing Pine Brook Road’s energy sector activities.

New York-based private equity firm Pine Brook Road Partners has hired former DE Shaw private equity co-head Richard Aube to join its energy investment team. 

Before joining Pine Brook, Aube was a managing director for DE Shaw & Company, where he oversaw the global research and investment firm’s North American private equity effort. He had previously been a partner at JP Morgan Partners focusing on growth equity and buyouts in the energy and industrial sectors.

Bryan Martin, who had been co-head of the North American private equity with Aube at DE Shaw, has assumed full responsibility for the portfolio.

“The firm remains committed to its global private equity business, including our activities in the US, India, and China,” a DE Shaw spokesperson said.

The hire does not reflect a shift in strategy for Pine Brook, which focuses primarily on the energy and financial services sectors, a source close to the firm said. The firm closed its $1.4 billion debut fund in 2009.

Pine Brook focuses on starting and building companies rather than investing in buyouts. Last year, the firm completed its first exit, selling oil and gas exploration company Common Resources for $805 million.