Boutique investment bank Moelis & Co., led by former UBS investment banking head Ken Moelis, has hired Greg Share as a partner in the private equity business of the firm’s merchant banking unit Moelis Capital Partners.
The private equity division held the first close of its debut private equity fund on $1.8 billion in September 2007, and will complete fundraising in “the next few months”, according to a company spokesperson.
Share was previously a managing director focusing on financial services and insurance in the private equity group of publicly listed alternative asset manager Fortress Investment Group, which today reported a net loss of $55 million (€35.8 million) for the second quarter. At Fortress he was involved in sourcing investments, acquisition structuring and portfolio company management.
The recent addition to Moelis & Co has 11 years of private equity experience. He came to Fortress from Madison Dearborn Partners where he was a vice president specialising in private equity investing in the media and communications sectors.
Moelis left UBS in March of last year, reportedly out of frustration with the bank’s reluctance to finance leveraged buyouts, and launched Moelis & Co shortly thereafter in July.
Moelis & Co has made a slew of senior hires in both the advisory and merchant banking businesses since its founding. Within the private equity business, Stephan Oppenheimer joined as a partner in January 2008 and Kurt Larsen joined as a managing partner in October 2007.
Oppenheimer was previously a principal at CCMP Capital Advisors working in the media and telecom, services and industrial sectors. Larsen was most recently a managing director at Cerberus Capital Management where he focused on middle-market private equity and subordinated debt investments.
Moelis Capital Partners’ fund will focus on co-investments with other firms, rather than leading deals, a source familiar with the matter told PEO last September. The fund will operate opportunistically, rather than targeting a particular industry or market segment.