UPS private equity head leaves for family office

Brady Hyde, former portfolio manager for private equity investments at UPS Group Trust, has joined Peruvian family office BC Finco Advisors, according to his LinkedIn profile.

Hyde joined in October and is based in Chicago. His new title is senior investment manager for private equity.

BC Finco Advisors is the family office of industrial conglomerate Grupo Breca, which was started by the Brescia Cafferata family, one of the richest families in Peru.  Hyde’s focus at BC Finco Advisors is unclear, and he was not available for comment.

Hyde left UPS at the end of September. He joined the private pension plan in 2013 and focused on bringing separately managed accounts, co-investments and secondaries to the UPS portfolio during his tenure.

Prior to joining UPS, he worked for more than five years at Chicago-based lower mid-market firm WP Global Partners. He began his career as a credit analyst at Bank of America.

BC Finco Advisors is headed by chief investment officer Michael Flynn, who was previously CIO at Kinship Trust Company.

According to a Hedge Fund Alert report from October, BC Finco Advisors was recently created to invest in hedge funds and private equity funds with a focus on long-term capital.

Recently interviewed by Private Equity International, Hyde said one of the trends he’s concerned about in the current private equity market is managers increasing their fund sizes too quickly, which forces them up market.

“It’s a whole different ball game,” Hyde said. “If we don’t believe the skillset of the manager is applicable to larger deals, we typically won’t invest with the manager.”