Turnover continues at PineBridge

Ronald Schweizer and Colin Mohamed (pictured) have joined a growing list of executives that have left the firm over the past year.

PineBridge Investments has already seen some of its key team members depart and two more executives moved on this summer.
 
Ronald Schweizer, former head of alternative investments, left at the end of July and became the chief financial officer at I Squared Capital about two weeks ago. Colin Mohamed, former vice president of alternatives finance, joined The Carlyle Group in June but has since left the firm, a spokesperson from Carlyle told Private Equity International. 

PineBridge declined to comment.

Schweizer joined PineBridge in June 2011 as the head of alternatives investments finance. Prior to PineBridge, Schweizer worked at Strategic Value Partners, JPMorgan Partners and Morgan Stanley, according to his LinkedIn profile.

Mohamed became a principal and chief accounting officer for Carlyle’s global market strategies group, but left the firm around 14 August. Before joining PineBridge in December 2009, Mohamed was a senior manager at PricewaterhouseCoopers for more than 13 years, according to his LinkedIn profile.

Mohamed: part of the turnover

 
Mohamed was unable to be reached at press time.

Schweizer and Mohamed are the latest in a rash of departures from the firm that emerged from AIG in 2010, backed with capital from Hong Kong billionaire Richard Li.
 
Former head of private equity secondaries, Harvey Lambert, and secondaries senior executive Kennon Koay, left the firm in December. More recently, Pablo Calo, former head of European secondaries, left to become a managing principal at Blackstone’s Park Hill Group, PEI reported earlier.
 
On the fund of funds side, the firm lost Rhonda Ryan, who led European investments in the private funds group. Kristina Matthews, a managing director for emerging markets private equity, who worked with the Central and Eastern Europe team, left PineBridge in June 2012.

Emerging market specialist, Scott Foushee, left the firm about a year ago and has since been working on launching his own shop to pursue investments in emerging markets called Acme Partners.
 
Despite the turnover, PineBridge remains dedicated to secondaries and primary fund operations. The firm made some structural changes, “re-integrating” its primary funds and secondaries teams earlier this year. Both are now led by Steve Costabile, head of the global funds, PEI previously disclosed.
 
PineBridge is fundraising for its third secondaries vehicle and had collected $130 million as of July. The fund launched earlier this year and had an initial target of $1.3 billion, which was cut to $500 million in June.