Activist hedge fund Irenic Capital Management has hired former Apollo Global Management principal E‑Fei Wang as managing director and head of private equity as the firm expands beyond public market activism, according to a report by Bloomberg.
Wang joined the firm last month after eight years at Apollo and will lead efforts to source and execute deals, including partnering with private equity sponsors on acquisitions of companies valued at up to $5bn.
Founded in 2021 by Adam Katz and Andy Dodge, Irenic manages about $2.5bn and already holds roughly $600m–$700m in private equity investments. The firm has previously partnered with Apollo on deals including the $5.2bn acquisition of Arconic.
The firm has also taken stakes in companies that later went private, including FD Technologies and Couchbase.
