People – Firms

The succession plan "put an organization established 36 years ago on course for the next 15 years," managing partner Michael Weinberg told Buyouts.

Despite the departures, the firm’s employee count has grown to some 31 people from 15 five years ago, a source told Buyouts.

Prior to joining OpenGate in 2012, Sebastien Kiekert Le Moult was chief executive of Syntagma Group, an industrial holding company with investments in Europe and Brazil.

Brian Boulanger was appointed CEO of ARC, replacing Lauchlan Currie, who has been one of the PE firm's top executives for 25 years.

Despite the unprecedented disruption of the coronavirus crisis, Alaska Permanent's in-state investment program is moving forward, and one of the GPs expects there to be good opportunities.

Clifford will work with institutional clients to design bespoke investment mandates, which was created as a joint venture between Franklin Templeton and Asia Alternatives.

Christiaan van der Kam, partner in secondaries, will be leaving Unigestion by mid-August.

The firm closed a cross-fund deal with platform Orion Innovation, held in the firm’s seventh fund, which acquired Zodiac Systems out of One Equity’s sixth fund. Fund VI will retain a stake in Orion.

Founder Fraser Preston said if every private equity firm pledged 5% of annual revenue to anti-racism causes, the industry-wide contribution would amount to more than $1bn.

The DOL guidance was necessary after a 2015 lawsuit by former Intel employee Christopher Sulyma accused the company and its retirement plan managers of increasing risk and costs, hurting plan participants, by including private equity and hedge funds.