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The firm has completed a management review prompted by former chief executive Tim Jones’ sudden departure in January, opting not to replace him.

Sir Peter Westmacott, the British Ambassador to the US from 2012-2016, joins the London-based firm as it seeks to grow its US business.

Gary Bialik takes up his post at a time of transition for the New York-based firm, which is considering new investment opportunities after suspending fundraising for its sixth fund last summer.

The $300bn pension fund has hired Washington State veteran, Marcie Frost, as CEO after its previous CEO retired.

Howard Weiss, former senior VP and CFO at Castle Harlan, has joined Stella Point, a mid-market private equity firm co-founded by Justin Wender, Castle Harlan’s president from 2006-2010.

The European mid-market investor has promoted four of its staff to partner, including secondaries chief Christian Böhler.

Cathrin Petty joins CVC Capital Partners to head its European healthcare team after two years as JPMorgan’s EMEA healthcare lead.

Caroline Dent joined the UK firm’s four-strong in-house operations team in 2009.

The firm is positioning itself for ‘material expansion’ in the US and deeper involvement in the credit fund space.

Norwest Equity Partners promoted Andrew Cantwell, who joined the firm in 2006 from Northwestern Mutual Capital, to partner.