BC Partners, the international private equity firm with over USD17bn under management, has appointed James Rubin and Daniel Selmonosky as senior partners in its New York office, effective
BC Partners, the international private equity firm with over USD17bn under management, has appointed James Rubin and Daniel Selmonosky as senior partners in its New York office, effective May 1.
They will join Raymond Svider and Justin Bateman, who will relocate from the firm’s London office to New York in the second quarter of this year. The expanded New York office, which will be fully integrated with the firm’s European offices, will improve BC Partners’ industry knowledge, its European market expertise and the experience of Rubin and Selmonosky to identify opportunities to acquire large, US-based companies with global operations.
Rubin and Selmonosky both join BC Partners from private equity firm One Equity Partners, which currently manages USD5bn for JPMorgan Chase and where they were among the founding partners in 2001.
Among the major transactions they led while at OEP were Telerate, which was bought out of bankruptcy and sold to Reuters in 2005; Quintiles Transnational, which was taken private in 2003 and which OEP exited in January 2007; NCO Group, which OEP took private in 2006; and Oncology Therapeutics Network, which was acquired from Bristol Myers Squibb in 2005, and sold to McKesson in March 2007.
Raymond Svider, managing partner of BC Partners, says: "We are delighted that Jamie and Dan are joining BC Partners. Over the past decade, they have led and completed some of the most successful buy-out transactions in the US. Their deep knowledge of the US market and their extensive contacts will be extraordinarily valuable as we build our US platform."
BC Partners has a long history of working with portfolio companies with significant U.S. operations and since 1991 has maintained a New York office led by Kevin O’Donohue, managing partner responsible for investor relations and fund raising. In February 2008, BC Partners completed the USD16.6bn acquisition of Intelsat, the global satellite communications
company whose operating headquarters are in Washington, DC.
The firm’s other notable investments worldwide include Amadeus, the global distribution system and technology provider for travel and tourism, Brenntag, the global chemical distribution company, and Fitness First, one of the largest operators of fitness clubs in the world.
"I am very excited to be joining a firm with BC Partners’ track record of performance," says James Rubin. "The firm’s success is rooted in its disciplined and team-oriented approach to investing and a history of strong partnerships with management. I look forward to working with Dan and my new BC Partners colleagues to leverage our international experience and network to add value to transactions and further enhance BC Partners’ profile in the US."
Daniel Selmonosky adds: "Jamie and I have worked together for a long time at US private equity firm, One Equity Partners, under the tutelage of Dick Cashin. We’ve long been impressed by BC Partners’s investment acumen and performance and we believe that our experience and relationships will help BC Partners continue to expand its global investments."
BC Partners is a leading international private equity firm with over USD17bn under management, operating through integrated teams based in Geneva, Hamburg, London, Milan, New York and Paris.
The firm’s latest fund, BCEC VIII, closed in May 2005 with USD9bn of commitments. For over 20 years, the firm has developed a long track record of successfully acquiring and developing businesses in partnership with management, investing in 66 acquisitions with a combined enterprise value of over USD93bn. Recent investments include Intelsat, Brenntag, Amadeus, Hyatt Regency, Dometic, Picard Surgeles, SEAT Pagine Gialle and Unity Media.
James Rubin – before joining OEP in 2001, he was a vice president with Allen & Company, a New York merchant bank specialising in media and entertainment transactions and advisory work. From 1996 to 1998, he held a number of senior policy positions with the Federal Communications Commission under chairman Reed Hundt.
Daniel Selmonosky – prior to joining OEP in 2001, he was a vice president with Allen & Company. From 1988 to 1991, he worked at Goldman, Sachs in mergers and acquisitions and the principal investment groups.
