Petra Funds Group, the personal funds administrator, has appointed former Antares Capital chief government David Brackett to the board of administrators.
Petra Funds Group offers fund administration providers to non-public fairness and debt funds globally. The agency administers funds with greater than $180bn (£141.2bn) in belongings in whole.
Brackett was a founding companion of the personal credit score supervisor Antares, turning into co-chief government in 2015 and sole chief government in 2019.
Throughout his tenure with the agency, Antares grew from a start-up in 1996 to managing greater than $40bn in belongings on the time of his retirement on the finish of 2021.
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He additionally helped lead the agency by its acquisition by GE Capital in 2005 and its eventual sale to the Canada Pension Plan Funding Board in 2015, a deal that valued the agency at $12bn. Since leaving the agency, Brackett has served as a senior adviser to McKinsey.
“As a personal funds government with greater than 25 years of expertise, we’re excited to welcome David to Petra’s board of administrators,” mentioned Stephen Coats, co-founder and managing companion, Petra. “One in all our targets since day one has been to construct a deep management bench of skilled business veterans at each the agency and board stage and we stay up for having David be a part of that.”
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Previous to founding Antares, Brackett held senior roles at Heller Monetary and Continental Illinois Nationwide Financial institution.
“I’m delighted to be becoming a member of Petra’s board and serve alongside this distinguished group of administrators,” mentioned Brackett. “I do know first-hand the challenges that in the present day’s personal funding managers are dealing with in relation to middle- and back-office operations and am deeply impressed by the distinct platform Petra has developed to assist clear up these points. Petra has cultivated a really gifted staff, and I stay up for working with them to proceed constructing the success they’ve generated because the main supplier of fund administration.”
Brackett’s appointment comes after Petra Funds Group final month employed Krista McCoy to assist develop its shopper acquisition technique. McCoy beforehand labored at fund administrator Ultimus LeverPoint Non-public Fund Options for greater than 20 years.
