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Petra Funds Group, the non-public funds administrator, has appointed former Antares Capital chief govt David Brackett to the board of administrators.
Petra Funds Group gives fund administration companies to non-public fairness and debt funds globally. The agency administers funds with greater than $180bn (£141.2bn) in property in complete.
Brackett was a founding associate of the non-public credit score supervisor Antares, turning into co-chief govt in 2015 and sole chief govt in 2019.
Throughout his tenure with the agency, Antares grew from a start-up in 1996 to managing greater than $40bn in property on the time of his retirement on the finish of 2021.
Learn extra: TPG in talks to purchase fund administrator Alter Domus
He additionally helped lead the agency via 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 govt 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 associate, Petra. “Considered one of our objectives since day one has been to construct a deep management bench of knowledgeable business veterans at each the agency and board degree and we stay up for having David be a part of that.”
Learn extra: Administrator Alter Domus extends non-public debt providing
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 at this time’s non-public funding managers are dealing with relating 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 proficient crew, 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.
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