US mid-market private equity firm The Riverside Company has promoted three investment professionals to partner: Anne Hayes, Kristen Newhall and Volker Schmidt.
Hayes and Newhall are located in New York and work with the Riverside Capital Appreciation Fund whereas Schmidt is based in Munich as part of the Riverside Europe Fund team.
Hayes began her career at Riverside as an associate in 2001 and has since worked on 11 acquisitions and three exits. She was previously manager of partner development at US video communications company Avistar Communications, where she managed the company’s initial public offering process.
Newhall joined Riverside as an associate in 2000. Over the last eight years, she has participated in 17 acquisitions and three exits. Prior to joining Riverside, Newhall was a vice president with Citigroup Investments Private Equity Group.
Schmidt joined Riverside as a partner in 2003 after spending ten years in strategic consulting at Boston Consulting Group. He has worked on seven acquisitions, leading three.
In addition to Riverside’s promotions, the firm’s Micro-Cap Fund made its fifth professional-training company acquisition with the purchase of TrainingPro, a US education company targeting mortgage professionals. It is an add-on acquisition to TrainCo, Riverside’s holding company for multi-industry professional training providers.
Riverside closed its third European fund on €315 million in August 2007 and closed its Riverside Capital Appreciation Fund 2003 on $750 million in April 2004. The firm is currently raising the Riverside Capital Appreciation Fund 2008 targeting $850 million and an Asia fund targeting $200 million, according to the Probitas 2008 Private Equity Deskbook.
The firm focuses on the smaller end of the middle market investments in the US, Europe and Asia and has nearly $2 billion under management across nine funds.