Gates Group appoints former Parsons CEO as executive advisor

James McNulty will help the Cleveland-based private equity firm identify opportunities in North American parking, transportation and infrastructure businesses.

Gates Group Capital Partners, a Cleveland-based private equity firm that invests in North American parking and infrastructure assets, has appointed  the former chief executive officer of engineering and construction company Parsons Corporation James McNulty as executive advisor.

McNulty will help Gates Group identify and evaluate potential investment opportunities. He retired from his CEO and chairman roles at Parsons in 2008. 

Gates Group and Parsons formed a strategic partnership in 2006 to work jointly on investments in transportation and infrastructure. That same year, McNulty began serving on the firm’s advisory board. Charles Harrington, the current chairman and chief executive officer of Parsons, will fill McNulty’s vacancy on the board.

The firm is headed by Walter Stuelpe, E.M. De Windt and Graham White. It was founded in 2002 to focus on acquiring real estate and companies in the North American parking and transportation industries. Gates manages a family of three funds, of which two – Parking Management Fund II and the Babcock & Brown Parking Management Fund – are part of a joint venture with Australian infrastructure specialist Babcock & Brown.

Gates Group’s total capital under management is in excess of $250 million.