Private equity from Corsair Capital has appointed Edward "Ned" J Kelly III, former Chairman of the Institutional Clients Group at Citigroup, and Ranji H Nagaswami, a former Chief Investment Advisor to Mayor Bloomberg's administration for the City of New York, as Senior Advisors.
In becoming associated with Corsair Capital, Kelly and Nagaswami add to the competitive strengths of Corsair's platform, particularly with respect to its access to operating and regulatory expertise as well as its access to the spectrum of opportunities in the financial services sector.
Kelly and Nagaswami will support the firm in its identification and evaluation of new investments. Mr Kelly will focus his efforts on the US financial services sector. Nagaswami will concentrate on new investment opportunities in the US asset management sector. Both will provide strategic counsel across the firm's portfolio globally.
Nicholas B Paumgarten, Chairman of Corsair Capital, says: "Ned Kelly brings a wealth of operating and transaction experience to bear on our investment practice and is well known to our team. He served as the firm's legal advisor during the formation of its first fund in 1992 and is a valuable contributor to our extended network. We are equally pleased that Ranji Nagaswami is joining the Corsair team. Ranji brings a unique perspective to our business. She knows the investment management industry as an investor and business leader as well as serving in a very senior capacity on the investor client side of the business through her work with Mayor Bloomberg.
"Corsair's view is that the financial services industry is currently undergoing the most profound change in a generation. We believe that this transformation will create a number of investment opportunities that lend themselves to highly specialised and experienced firms like Corsair which can serve as a trusted and value-added partner to management teams and other stakeholders. Ned and Ranji joining Corsair will enhance Corsair's capabilities in this regard."
Kelly says: "I have a long history with Corsair and am delighted to be joining the firm. I look forward to helping the firm build on its success in the years ahead."
Nagaswami says: "Corsair is a differentiated private equity firm and focuses on finding thoughtful ways to create value within its portfolio companies. I am excited to work with the team to develop attractive investments in the asset management industry and to collaborate with management teams to uncover opportunities presented by the evolving landscape."
Ignacio Jayanti, President of Corsair Capital, says: "Ned Kelly and Ranji Nagaswami add important value to our Corsair team. They are highly regarded professionals with a deep knowledge of the financial services sector. They provide Corsair a combination of operating experience, regulatory expertise, investment acumen and broad relationships across various sectors of the industry. They further position Corsair Capital capabilities to capitalise on attractive investment opportunities, add strategic value to its investments, and serve the best interests of Corsair's Limited Partners."
