People

CP Eaton appoints COO, expands RE team

The Connecticut-based placement agent has hired former Cengage Learning chief operating officer Jerry Elliott to take over some of the responsibilities of founder and CEO Charles Eaton. The firm has also appointed four executives to its private equity and real estate operations.

US government needs to mirror RTC in bailout plans

Following the defeat of the White House’s $700bn financial rescue package, economist and LECG director, Alan Madian, has argued the proposed legislation should only buy mortgage securities backed by real assets and provide for direct infusions of capital.

Norwest Venture hires former Goldman executive director

Sohil Chand, formerly with Goldman's Asian special situations team, will be responsible for making growth equity investments in Indian companies.

CP Eaton nearly doubles London team

The placement agent has moved Franklyn Chang from its Connecticut office and hired former UBS placement agent Christophe Pietersen and Stephanie Brendel, previously with Bear Stearns.

Alaska hires former Microsoft exec as CIO

The Alaska Permanent Fund has brought on former Microsoft executive Jeffrey Scott to manage the $30bn state investment fund.

NY pension private equity head steps down

The New York Common Retirement Fund’s Nick Smirensky has left the $155bn pension to helm the investment activities of the New York State Health Foundation.

Infrastructure dealmakers eye $100 trillion in global assets

Blackstone infrastructure co-head Trent Vichie and Chris Leslie, CEO of Macquarie Infrastructure Partners, say only a fraction of what's needed for infrastructure investment worlwide has been raised by private funds. Meanwhile CVC’s infrastructure chief, Stephen Vineburg, also speaking at PEI’s Infrastructure Forum in New York, said infrastructure investing has reached a third stage in development.

Private equity-backed companies turn to PIK

A report from Moody's Corporate Finance reveals an increase in private equity-backed companies that are electing to use their payment-in-kind option to make interest payments.

BlackBerry Partners Fund hires two

The fund’s co-managers, JLA Ventures and RBC Venture Partners, have each contributed a new hire to the smartphone-focused venture capital group. The additions of Marc Faucher and Matt Golden bring the head count to eight.

Guggenheim Aviation opens in Singapore

The US-based private equity firm has also hired Stephen Barnes, former treasurer for Singapore Airlines, as director of marketing in Asia.