MAY 12, 2010
Healthcare-focused advisory firm Marwood Group is assembling its first private
2 Ripplewood Alum Broadens Pitch
2 CIVC Campaign Dragging to Finish
2 747 Back on Marketing Trail
3 Resilience Eyes Big Equity Increase
3 Evercore On Hunt for Placement Pros
3 LGT Vehicle Taking Final Commitments
4 Neuberger Picks Up Pequot Portfolio
4 Report Spurs NC Hiring Initiative
4 NYU Creates Seed-Capital Pool
4 Lacers Invites Consultant Proposals
THE GRAPEVINE
David Cody and Chris Suan joined
MatlinPatterson last week as partners
tasked with exploring a possible expan-
sion of the New York firm’s investment
strategy, which currently encompasses
private equity funds that seek control of
troubled companies and a non-control
oriented hedge fund. The two are looking
at opportunities worldwide. Cody held a
top post on Fortress Investment’s fund-
marketing team until last month. Suan
headed non-U.S. investments at D.B.
Zwirn. He left the hedge fund manager
prior to its takeover by Fortress last year.
Distressed-asset investor Bayside Capital
hired David Robbins last week as a manag-
ing director in New York. Robbins previ-
ously evaluated and executed control-ori-
ented investments in distressed debt as a
senior managing director at GSC Group.
Before that, he worked at Blackstone
Group. Bayside is a Miami affiliate of H.I.G.
Capital. The firm is currently trying to
See GRAPEVINE on Back Page
Healthcare Shop Makes Management Debut
equity fund.
The New York outfit is seeking $250 million for the vehicle, Marwood Capital
Health Investors. It isn’t using a placement agent.
The plan is to take controlling and non-controlling interests in U.S. healthcare-
service companies with enterprise values of up to $300 million — particularly
those that stand to benefit from new government healthcare measures, including
President Obama’s Patient Protection and Affordable Care Act. They would include
companies that work with medical insurers and healthcare providers.
Marwood was founded in 2000 by John Moore and Edward Kennedy Jr., a son of
the late Sen. Edward Kennedy. In February, they hired two professionals to help run
the new vehicle: Diane Dayche and Marc Aronstein. Dayche most recently worked as a
See HEALTHCARE on Page 2
EnerVest Ready for Capital-Raising Sprint
EnerVest Management, a Houston firm that invests in oil-and-gas properties,
has quietly locked up an initial round of capital for its latest fund.
The shop held a first close for its EnerVest Energy Institutional Fund 12 last
week with $253 million from 18 limited partners. It’s seeking $1.5 billion overall.
Even with such a large goal, EnerVest’s campaign has been low-key enough that few
market players were aware of the effort until now. It’s even unclear when the push
began. What is clear, however, is that the undertaking is meant to move quickly.
According to documents that limited partners received with last week’s close,
EnerVest will cut off fund raising eight months from now — rather than the 12
months that private equity firms usually give themselves after an initial round of
marketing. And things could go even faster if EnerVest gets its way, as the firm said
it expects to hit its equity target this summer.
EnerVest buys, develops and operates oil and natural-gas fields. Its performance
See ENERVEST on Page 6
NEA Operations Chief Splits for Foundation
Eugene Trainor is leaving his post as New Enterprise Associates’ chief operating
officer to take a similar job at Foundation Capital.
Trainor officially exited NEA on Feb. 19, but agreed to continue working with
the Menlo Park, Calif., venture capital shop for a few months to assure a smooth
handoff. Chief financial officer Tim Schaller and general counsel Louis Citron are
absorbing his duties, with no immediate plans to hire a direct replacement.
Trainor joined NEA about a decade ago and took over day-to-day responsibili-
ty for the firm’s non-investment activities with his promotion to head of operations
in 2002. He earlier served in a similar capacity at New York asset manager Cramer
Rosenthal McGlynn.
Foundation, led by founder Bill Elmore, invests mainly in early-stage software,
clean-technology and consumer-Internet companies. It has been deploying capital
at an increasing pace this year. ❖
May 12, 2010 Private Equity
Ripplewood Alum Broadens Pitch
A Tokyo firm is assembling its first broadly marketed pri-
vate equity fund.
Iwakaze Capital hopes to raise some $200 million for the
vehicle, Iwakaze #2 Investment. Young America Capital is serv-
ing as placement agent.
The fund would invest in small and mid-size companies in
Japan that produce digital media, automobile parts, electronic
components and industrial machinery, with a focus on those
that can sell their products elsewhere in Asia and eventually
worldwide. The thinking is that as the businesses grow, they
could become attractive to buyers in other countries. Iwakaze
plans to avoid overpaying for investments by finding deals on its
own, while staying away from auctions and offerings from inter-
mediaries. It’s aiming for a net rate of return of 20% or more.
The firm’s first fund follows a similar strategy. It raised 2.1
billion Japanese yen ($22 million) in 2008 from four institu-
tional investors in Japan.
Iwakaze is headed by Kenji Ueda, who co-founded
Ripplewood Holdings unit Ripplewood Japan in 1999. He set
out on his own in late 2007, after spending nine years as a
managing director at another Ripplewood-related operation
called RHJ International. Other top members of the team
include Fuyuki Yamaguchi, who has worked at Bain & Co., AIG
and Movida, and Shinichiro Ishikawa, previously of Boston
Consulting and GDH Group. ❖
CIVC Campaign Dragging to Finish
CIVC Partners is finally cutting off capital-raising efforts for its
latest buyout fund, two years after it began shopping the vehicle.
The Chicago firm expects to hold the final close for its CIVC
Partners Fund 4 by the beginning of July. It’s apparently stick-
ing with a $575 million equity target, lowered some time ago
from an original $700 million — although one investor said
the total might end up as low as $450 million.
CIVC is among scores of private equity firms whose mar-
keting efforts were hampered by the broader financial-market
downturn. But one soured deal in particular has stood out: a
2003 transaction in which the shop teamed up with Blackstone
Group, Cypress Group and PMI Group to buy bond insurer FGIC
from GE Capital for almost $2.2 billion.
CIVC’s stake, amounting to 7%, marked its biggest deal
ever. And it had disastrous results, as FGIC later took a beating
on exposures to troubled mortgage securities. The guarantor
still faces claims it can’t pay, and CIVC has realized less than
10% of its investment. “I think they really paid for that,” the
investor said. “Their track record is really good, but they did
that deal.”
CIVC raised $650 million for its third fund, which held its
final close in October 2003. As of Sept. 30, 2008, the latest data
available, that vehicle was running a 29% rate of return.
Marketing for the new fund appeared to be off to a strong
start in June 2008, when Bank of America — one of CIVC’s
biggest backers — completed a “stapled” secondary-market
INSIDER 2
sale encompassing some $400 million of stakes in the firm’s
earlier vehicles. The buyers, which included Adams Street
Partners, Canada Pension Plan, Goldman Sachs and Pomona
Capital, agreed as part of the transaction to commit about the
same amount to Fund 4.
But according to Preqin, CIVC had collected just $281 mil-
lion by the time it held a first close in March 2009 — suggest-
ing that the stapled portion of the secondary sale may have
been renegotiated. UBS, which brokered the trade, is serving as
the new fund’s placement agent. ❖
747 Back on Marketing Trail
Fund-of-funds manager 747 Capital is expected to start
pitching its latest vehicle in the next month or so.
The New York firm will likely try to collect about $100 mil-
lion for the fund, presumably called 747 Stuyvesant 3.
Typically, 747 invests with managers that seek to raise less
than $400 million — a profile that fits buyout or growth-capi-
tal specialists investing in companies valued at $100 million or
below. It’s among a number of fund-of-fund shops that employ
such limitations. The argument is that mid-size operators have
an easier time creating value than big ones, as they face less
competition for deals and use less leverage.
However, the limits can occasionally mean that underlying
managers outgrow the funds of funds’ investment parameters.
For its previous fund, 747 also sought to raise $100 million.
But the marketing pitch was dampened by the global financial
crisis, and the firm wound up with $50 million for a final close
in late 2008. The shop is led by managing partners Marc der
Kinderen and Gijs van Thiel. ❖
Healthcare ... From Page 1
partner at CPP Equity, a Hartford venture capital firm that is
now unwinding. Aronstein was a managing director at New
York buyout-fund operator Beekman Group.
Marwood’s main business is advising private equity firms,
lenders and healthcare companies on acquisitions, with a
focus on legislative, regulatory and insurance-related matters.
It began producing healthcare research in 2003 and formed its
advisory arm in 2005, with a long-term goal of starting a pri-
vate equity fund.
Along the way, some private equity clients have asked
Marwood if it would act as a co-investor. Now it plans to do
just that, taking minority positions alongside advisory cus-
tomers. It will also seek out its own deals. The firm separately
runs a hedge fund-focused fund of funds. ❖
Planning Your Travel Schedule?
Check out the comprehensive listing of upcoming private equity
conferences in The Marketplace section of PEinsider.com. The
calendar is divided into three sections: the industry’s main events,
conferences to be held in the U.S. and those to be held outside
the U.S.
May 12, 2010 Private Equity
Resilience Eyes Big Equity Increase
Cleveland special-situations shop Resilience Capital is in
discussions to assemble its biggest fund ever.
In preliminary talks with investors, the firm has pointed
toward an equity target of $200 million for its Resilience Fund
3 — up from the $55 million collected by its 2006-vintage sec-
ond fund and the $26 million raised for its 2002 debut. A for-
mal marketing effort will likely start in the next month or two.
Resilience invests in struggling U.S. companies, working
across a variety of sectors. While the equity target for the firm’s
third fund may seem ambitious in light of its previous efforts,
the earlier vehicles worked with co-investors on many deals.
The new fund apparently would scale back those activities,
meaning more capacity to pursue investments on its own.
Performance appears to be on Resilience’s side. The firm’s
first fund was producing a 90.6% rate of return as of Sept. 30,
according to Preqin, and its second vehicle is also delivering
gains.
Of course, investors have wrestled for years with the ques-
tion of whether the returns of smaller pools can be duplicated
in larger formats. Skeptics point to the huge amounts of capi-
tal that flowed into venture capital vehicles during the dot-com
boom, only to vanish as that market crashed in 2000. While
Resilience operates in a different market, it still has to convince
investors that its approach would translate for a bigger fund.
Resilience was founded in 2001 by Bassem Mansour and
Steve Rosen. Mansour previously worked at the former
McDonald Investments, a unit of KeyBank. Rosen’s prior
employers include Merrill Lynch. ❖
Evercore On Hunt for Placement Pros
Evercore Partners is seeking to fortify the placement-agent
business it bought from Neuberger Berman in February by hir-
ing four or five fund-raising professionals.
The recruits would fill positions at the vice president level
or higher, handling fund-marketing work in various regions
across the U.S.
New York-based Evercore currently employs eight former
Neuberger placement professionals who handle fund-raising,
business-origination and project-management functions. But
most of its current fund-raising specialists are in Europe. They
include vice president Christian von Massenbach, who just
came on board to cover Germany. He most recently worked at
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INSIDER 3
Nomura, by way of the bank’s 2008 takeover of the European
businesses of former Neuberger parent Lehman Brothers.
In addition to complementing its European staffers with
some U.S. counterparts, Evercore is looking for funds to repre-
sent. They might include buyout, turnaround, distressed-asset
and infrastructure vehicles. Eventually, the firm plans to work
on 10-12 assignments at a time, each typically with an equity
goal of $300 million to $1 billion.
Evercore inherited five accounts from Neuberger, but all
involve clients in Europe. “Evercore is actively evaluating a
number of interesting third-party fund-raising opportunities
and is particularly focused on building out a high caliber U.S.
sales team to complement the European business,” said Dana
Pawlicki, who heads origination and marketing strategy in
New York.
The overall fund-raising unit is led by Richard Anthony in
London.
Neuberger, meanwhile, kept a number of sales professionals
to shop its own funds. Still, Evercore is in talks to represent
Neuberger on some offerings and will temporarily share some
revenues with the firm. ❖
LGT Vehicle Taking Final Commitments
LGT Capital has set its sights on July to hold a final close for
its newest fund of funds.
That would be about two years after LGT finished an initial
round of marketing for the vehicle, Crown Europe Middle
Market 2. Expectations are that the Pfaffikon, Switzerland,
firm will wind up with €400 million to €450 million (up to
$575 million).
That’s less than initially expected. While LGT never set a
formal equity target, one limited partner — London Borough of
Hillingdon Pension — earlier cited a projected total around
€600 million.
The shortfall largely reflects a broad decline in demand for
private equity products since the fund’s first close, which
pulled in €268 million. But the vehicle is drawing a late surge
of interest, thanks to strong performance since then. The
fund’s returns have remained in positive territory all along,
buoyed by some discounted secondary-market purchases
made in 2009. Those holdings have since doubled in value,
with the overall portfolio worth 1.25 times equity after fees
charged by the underlying managers.
It has also helped that the bulk of the fund’s investments
came after September 2008, the onset of the worst stretch of
the global financial crisis. The vehicle focuses on buyout-ori-
ented deals in Europe. It maintains a 20% allotment for sec-
ondary transactions, which is currently full. New limited part-
ners can get in on existing holdings at the original price, plus
an interest rate of 200 bp over Libor.
The fund’s predecessor raised €609 million in 2007.
Separately, LGT is expected to hold a final close soon for its
latest secondary-market vehicle, Crown Global Secondaries 2,
at or above its $750 million goal. ❖
May 12, 2010 Private Equity
Neuberger Picks Up Pequot Portfolio
Pequot Capital has finally found a buyer for a package of
healthcare-company stakes it began shopping last August.
The now-defunct hedge fund manager struck the deal in
the last month or two, agreeing to ship the holdings to
Neuberger Berman for an undisclosed price. The package, con-
taining interests in about a dozen private companies, had a net
asset value around $50 million. Houlihan Lokey brokered the
trade.
The holdings came from Pequot Healthcare, a unit that
Pequot began unwinding in 2008. That division invested in
both public and private companies. Pequot’s broader opera-
tions went into shutdown mode last May amid an insider-trad-
ing investigation by the SEC.
Pequot, led by Art Samberg, managed some $15 billion at its
peak. ❖
Report Spurs NC Hiring Initiative
North Carolina Public Employees is working to expand its
private equity staff.
The effort is geared toward implementing parts of an April
19 review from Ennis Knupp & Associates. They include the
addition of more direct private-company investments, co-
investments and commitments to secondary-market funds —
tasks the $67 billion pension system can’t tackle with its cur-
rent workforce.
Right now, Craig Demko is the only North Carolina Public
Employees staffer focused on private equity investments. But
Ennis Knupp has told the organization that it should have at
least four people manning its portfolio, which currently
amounts to $3 billion. Ideally, it would be working with a team
of eight.
To move toward that goal, North Carolina Public Employees
plans to add two portfolio managers.
The staff search comes as State Treasurer Janet Cowell has
already been trying to find a new chief investment officer for
North Carolina Public Employees since August 2009, when she
dismissed Patricia Gerrick from the post. Gerrick was among
the state government’s highest-paid workers, with an annual
salary of $340,000.
Cowell commissioned the Ennis Knupp report in August,
and more recently asked the firm to conduct a separate asset-
allocation study that should be complete in coming months. In
last month’s report, the consultant also suggested the pension
make more use of outside firms to manage and expand its pri-
vate equity portfolio. Strategic Investment Solutions currently
serves as the organization’s private equity consultant, but only
supplies input on specific issues. Expectations are that the
retirement plan will seek fresh proposals from advisors rather
than simply expand Strategic Investment’s mandate.
Ennis Knupp suggests that by pursuing direct investments,
as well as co-investments, North Carolina Public Employees
could save on manager fees. It’s looking at secondary-market
plays in part as a portfolio-balancing tool. “Increased use of
INSIDER 4
these types of investments could serve to improve the risk and
return characteristics of the portfolio and lower costs,” Ennis
Knupp wrote in its 188-page report. “However, these types of
investments should only be added to the portfolio if the appro-
priate internal and external resources are added.”
Once it has more resources on hand, Ennis Knupp suggests
that North Carolina Public Employees split its alternative-
investment allocation to separate private equity products from
hedge funds. The pension currently has 4.5% of its capital
invested in alternatives, mostly in venture capital, buyout,
growth-equity and special situations vehicles. Only a small
amount is in hedge funds. ❖
NYU Creates Seed-Capital Pool
New York University has set up an account through which it
plans to back startup businesses that use technology or intel-
lectual property developed at the school.
The university is calling the vehicle NYU Innovation
Venture Fund. It hasn’t said how much capital it is putting into
the effort, which focuses on seed financing of information-
technology, physical-science and life-science companies.
Overseeing the effort is Frank Rimalovski, who started this
week as a managing director of the fund. Until last week, he
was at New Venture Partners, a firm he co-founded in 2001 as
a spinoff from Lucent Technologies’ Bell Labs.
Aspects of Rimalovski’s work will be similar to what he did
at New Venture, whose initial investments had ties to Lucent.
The firm is now investing through its fourth fund, which
raised $300 million. ❖
Lacers Invites Consultant Proposals
Los Angeles City Employees is looking for a general invest-
ment consultant.
The $9.7 billion pension system has set a June 2 deadline for
applications, and aims to select a winner by June 30. That’s
when its contract with current consultant Pension Consulting
Alliance expires, after a one-year extension.
The organization only plans to consider candidates that
already work with one public pension plan with assets of $5
billion of more. Pension Consulting, based in Portland, Ore.,
presumably will seek a renewal.
Los Angeles City Employees is advised on alternative
investments by Hamilton Lane of Bala Cynwyd, Pa., with
Pension Consulting also overseeing a specialized portfolio
within that program. ❖
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May 12, 2010 Private Equity INSIDER 5

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Confidential
capital-raising plans NAME:

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May 12, 2010 Private Equity INSIDER 6

start investing until later this year.

EnerVest ... From Page 1
records support its capital-raising optimism, with a 36% net
rate of return since its launch in 1992. The firm’s ninth fund, a
2001 vintage vehicle with some $240 million, was running a
68.5% rate of return as of Sept. 30, according to Preqin. Fund
10, a $550 million pool assembled in 2005, was already return-
ing 16.4%.
The 2007-vintage Fund 11, meanwhile, is still too new to be
posting meaningful results. It raised just over $1 billion, and
still has about $250 million to put to work. Fund 12 wouldn’t
EnerVest joins a few other energy-focused firms in raising
capital. Sheridan Production is trying to collect $1.3 billion for
its second fund, while EnCap Investments is seeking $2.5 bil-
lion for its eighth vehicle and ArcLight Capital also aims for
$2.5 billion for its fifth offering. There was talk this week that
ArcLight had held a first close for its fund, although there’s no
word if the firm hit its round-one goal of $400 million.
EnerVest’s investments are similar to those of EnCap. The
firm is headed by Mark Houser, Jon Rex Jones, James
Vanderhider and John Walker. ❖

CALENDAR

Main Events
Dates Event Location Sponsor Information
June 2-4 SuperReturn US 2010 Boston ICBI www.icbi-events.com
June 9-10 Venture Capital Investing San Francisco IBF www.ibfconferences.com
Sept. 27-30 SuperReturn Asia 2010 Hong Kong ICBI www.icbi-events.com
Sept. 28-29 Private Equity Analyst Conference 2010 New York Dow Jones www.dowjones.com
Nov. 16-19 Super Investor 2010 Paris ICBI www.icbi-events.com
Jan. 25-26, 2011 Private Equity Analyst Outlook 2011 New York Dow Jones www.dowjones.com
Feb. 28-March 3 SuperReturn International 2011 Berlin ICBI www.icbi-events.com

Events in US
Dates Event Location Sponsor Information
May 17-18 Tax Practices for Private Equity Funds New York FRA www.frallc.com
May 17-19 Private Investment Funds Tax Master Class New York FRA www.frallc.com
May 19-20 Medtech Investing Conference Minneapolis IBF www.ibfconferences.com
May 20 Deals and Diligence Symposium Jersey City, N.J. ACG dealsanddiligencesymposium.com
May 20 Global Secondary Investing Conference New York Thunderbird School www.thunderbird.edu
May 20-21 Energy Efficiency Finance Forum Chicago FRA www.frallc.com
June 9-11 Private Equity World Latin America 2010 Miami Terrapinn www.terrapinn.com
June 10 Leadership in the Private Capital Markets Los Angeles Argyle Exec. Forum www.argyleforum.com
June 10 Private Equity Investments in Food & Beverage Cos. New York Capital Roundtable www.capitalroundtable.com
June 10 High Yield Bond Conference New York NYSSA www.nyssa.org
June 16 Global Distressed Debt Investing Summit New York iGlobal Forum www.iglobalforum.com
June 17 Deal Making in the Energy Sector New York Argyle Exec. Forum www.argyleforum.com

Events Outside US
Dates Event Location Sponsor Information
May 20-22 Private Equity Seminar Series London IIR www.iir-events.com
May 25-26 International PIPEs Conference 2010 Shanghai Deal Flow Media www.dealflowmedia.com
May 26-28 CVCA’s Annual Conference Ottawa, Canada CVCA www.cvca.ca
June 8-9 Vietnam Investment Summit 2010 Ho Chi Minh, Vietnam Terrapinn www.terrapinn.com
June 10-11 Private Equity Convention Russia & CIS London Global Directors www.gdforum.co.uk
June 21-22 Acquisition & Leveraged Finance Asia 2010 Hong Kong Euromoney www.euromoneyseminar.com
June 28-30 SuperReturn Emerging Markets 2010 Geneva ICBI www.icbi-events.com
July 14-15 International Wind Financing Summit London Hanson Wade www.hansonwade.com
Aug. 16-19 Infrastructure Investment World Africa Johannesburg Terrapinn www.terrapinn.com
Aug. 31-Sept. 3 Infrastructure Investment World Asia 2010 Hong Kong Terrapinn www.terrapinn.com
To view the complete conference calendar, visit The Marketplace section of PEinsider.com
May 12, 2010 Private Equity INSIDER 7

FUND-RAISING ACTION

Target
Placement Amount
Manager Fund, Key Executive Type: Focus Agent (Mil.) Action
Earth Capital Partners, ECP Forestry Fund One, Timber: Latin $300 Just began
London Stanley Fink America marketing.
EnerVest Management, EnerVest Energy Institutional Fund 12, Buyout: Oil and $1,500 Held first close
Houston Jon Rex Jones and John Walker gas properties with $253 million.
ASee Page 1
Iwakaze Capital, Iwakaze #2 Investment Limited Partnership, Buyout: Japan Young America $200 Just began
Tokyo Kenji Ueda Capital marketing.
ASee Page 2
Madison Dearborn Partners, Madison Dearborn Capital Partners 6, Buyout $7,500 Held final close
Chicago Paul Finnegan and Samuel Mencoff with $4.1 billion.
Partners Group, Partners Group Value 2008, Secondary market €500 Held final close
Zug, Switzerland Stefan Naf with €537 million.
To view all past Fund-Raising Action entries, visit The Marketplace section of PEinsider.com

presents
2009 Leadership in the
Private Capital Markets 2nd Global Distressed Debt
+VOF




t


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May 12, 2010 Private Equity INSIDER 8

THE GRAPEVINE
... From Page 1
raise $1 billion for its third fund, which
would seek control of a range of compa-
nies worldwide.
ComVest Group has added another senior
executive, amid efforts to raise $500 mil-
lion for its fourth fund. The latest recruit,
Greg Reynolds, joined the West Palm
Beach, Fla., firm within the past two
weeks as a managing director focused on
finding and maintaining non-control-
oriented lending investments. Reynolds
previously was a director at Dymas
Capital, a financing affiliate of turn-
around specialist Cerberus Capital. His
hiring comes about two months after the
arrival of another managing director,
Abry Partners alumnus Roger Marrero.
Market players are buzzing that Bank of
America could soon lose several execu-
tives whose oversight encompassed a
$1.9 billion portfolio of fund interests
that the institution sold to AXA Private
Equity last month. Among those cited as
candidates to leave as their responsibili-
ties taper off is Jason Cipriani, who heads
BofA’s strategic fund investment unit in
Charlotte. Sources said he and a few col-
leagues could move by the beginning of
September to Sterling Stamos, a New
York hedge fund shop in which BofA
holds a partial stake.
Lina Rubin took over last month as head
of UBS Wealth Management’s alternative-
investment division, which deploys client
capital to private equity vehicles and
hedge funds. She had joined the bank’s
New York office in 2007 from law firm
Weil Gotshal.
Leila Blodgett has left HarbourVest
Partners, where she was a vice president
in charge of managing relationships with
investors and their consultants.
HarbourVest hasn’t named a replace-
ment. Blodgett cited personal reasons for
her exit from the Boston firm, which she
joined in 2005 from a research post at
Cambridge Associates.
CMS Mezzanine is seeking an analyst or
an associate to help find and evaluate
investments. CMS Mezzanine, a debt-
focused unit of CMS Cos. of
Wynnewood, Pa., assembled its first
fund in 2008 and has made two invest-
ments so far. CMS Cos. also manages
$600 million via funds of funds under
the banner of CMS Fund Advisors.
Sixpoint Partners has added two direc-
tors to its investment-banking business,
whose services include capital-markets
and fund-placement work for private
equity firms. Aaron Tavel joined the New
York shop this week from Citigroup,
where he spent 10 years. And Jeff Klein
arrived two weeks ago from the capital-
markets team at Lazard, where he was a
director. At the 2-year-old Sixpoint, both
focus on finding new clients and main-
taining relationship with existing
accounts.
Blue Harbour Group, a Greenwich Conn.,
firm that bills itself as applying a private
equity approach to investing in public
companies, has hired a portfolio manag-
er. Todd Marcy previously served as a
portfolio manager at now-shuttered
hedge fund firm Principled Capital. Blue
Harbour is led by Clifton Robbins, who
has worked at General Atlantic Partners
and Kohlberg Kravis Roberts.

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