Z Capital hires former LP consultant

As it works to raise $500m for its second special situations fund, Z Capital has brought on former New England Pension Consultants executive William Monagle.

William Monagle, former senior strategist at New England Pension Consultants, has joined turnaround specialist Z Capital Partners as a managing director.

Monagle, who left NEPC last year, is responsible for operational and accounting due diligence for portfolio companies, board representation and internal infrastructure, according to a statement from Z Capital. Monagle has worked as a consultant to Z Capital since early this year.

Monagle joined NEPC in 2004 and led the advisor’s private equity research and due diligence activities, according to a cached version of his bio on NEPC’s website. Prior, he worked at Rogerscasey as a managing director-private equity research, responsible for monitoring about 150 private equity funds.

Z Capital has hired Monagle as it comes to market with its second special situations fund targeting $500 million. The fund launched in September; Z Capital’s first fund, a 2007 vintage, collected $300 million after revising its target from $1 billion to $500 million. In October, the firm hired Irene Hong to head up fundraising and investor relations. Hong formerly worked at KPS Capital Partners, where she was vice president of investor relations.

The firm was formed in 2006 by James Zenni, president and chief executive officer, who formerly founded Black Diamond Capital Management. In March, the firm took over bankrupt restaurant chain Real Mex.

Earlier this month, Z Capital promoted four executives to the roles of senior managing director-partner. The promoted executives included general counsel Martin Auerbach, chief financing officer Jonathan Schmugge and investment team members Christopher Kipley and Rahul Sawhney.