People

Duke Street hires ex-Palamon partner

Miles Cresswell-Turner will join the UK mid-market firm, which is currently investing a €960m fund.

US backs away from buying troubled mortgage assets

Hank Paulson, US Treasury Secretary, said today buying troubled assets is not the most effective way to use TARP funds.

Ex-Credit Suisse PE, RE exec to lead US bailout plan investments

The former vice president of Credit Suisse’s private equity operations, James Lambright – a specialist in real estate transactions – has been named the interim CIO of the US’ $700bn asset recovery programme.

Texas Teachers appoints alternatives head

The Teacher Retirement System of Texas has hired former Summit Properties president Steve LeBlanc to lead its real asset and private equity portfolios. Lee Partridge, the pension's strategic research managing director has been promoted to deputy chief investment officer.

Landmark appoints ex-DTZ exec to expand Euro platform

The private equity real estate firm hires former DTZ executive to capitalize on the growing secondaries and fund of funds market in Europe.

Stone Point buys 50% stake in real estate liquidator

The US private equity firm invested an undisclosed amount from its $2.25bn Trident IV fund in Real Estate Disposition Corporation, which auctions foreclosed properties. The company has auctioned off more than 16,000 US homes since November.

Landmark exec departs charging breach of contract

Gary Stevens has filed a lawsuit against the Connecticut secondaries firm claiming Landmark failed to honour a promise to give him an ‘ownership interest’ in the firm.

Aquiline hires financial services pro

The financial services-focused buyout shop has hired Barrett Ellman Stoddard Capital Partners executive Mark Graf as a member of its growing investment team. Last month, the firm hired former E*TRADE Financial chief executive Mitchell Caplan.

Morgenthaler shifts strategy with $400m venture fund

The firm has closed a venture only fund after having a hybrid private equity and venture model in place since 1991.

Advent adds ex-Fiat CEO as operating partner

Paolo Cantarella joins the 50-some operating partners who advise the global midmarket firm. The former Fiat chief currently is a non-executive director of Italian private equity real estate firm Inpartner and Italian utilities firm Iride.