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KPS Capital Partners adds to investment team

KPS Capital Partners has announced the addition of six professionals to its investment team, which follows the closing of the firm’s third oversubscribed fund, KPS Special Situations Fund

KPS Capital Partners has announced the addition of six professionals to its investment team, which follows the closing of the firm’s third oversubscribed fund, KPS Special Situations Fund III, with USD1.2bn of committed capital. According to the firm, the need to expand the firm’s investment stemmed from its expansion of capital under management.

Randy Hicks, who has been named managing director and director of business development, has 20 years of experience originating, structuring and closing corporate finance transactions. Before joining KPS, he was a senior managing director of origination for FirstLight Financial.

Hicks previously spent 14 years with GE’s commercial finance unit in Los Angeles, Chicago and Connecticut, two years with US West Capital in its energy project finance group, and four years with BancIreland First Financial in its leasing and project finance group.

In addition, Ryan Baker, Michael Houy, Evan LePatner and Lee Mlotek have joined KPS as associates, while Sarah Weintraub has joined the firm as assistant controller. Baker was formerly a mergers & acquisitions associate at Paul, Weiss, Rifkind, Wharton & Garrison.

LePatner was formerly an associate at Kohlberg, and was previously an analyst in the global industrial group of Citigroup Global Markets. Houy was formerly an associate at Sun Capital Partners and an analyst in the leveraged finance group at JP Morgan Securities.

Mlotek was a financial analyst at Peter J. Solomon, specialising in restructurings and mergers and acquisitions. Weintraub was formerly an associate in KPMG’s audit practice, specialising in financial services.

KPS Capital Partners is the manager of the KPS special situations funds, a family of private equity funds with more than USD1.8bn of committed capital and focused on investing in restructurings, turnarounds and other special situations.

KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalised highly leveraged public and private companies. Its investment strategy targets companies with strong franchises that are experiencing operating and financial problems, investing capital concurrently with a turnaround plan predicated on cost reduction, capital investment and capital availability.

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