Burns co-founds Integrum, Cheong earns a promotion at Bowmark, Oron joins Blackstone and other notable moves and promotions

From our Women's PE Briefs - week commencing April 26, 2021

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Burns co-founds Integrum

Ursula Burns, the former chairwoman and CEO of Xerox, is part of the founding team of a new investment firm. Ursula founded Integrum with private equity veteran Tagar Olson; Declan Kelly, who is chairman and CEO of Teneo; and Richard Kunzer, former co-head of investor relations for BC Partners. The four founders are seeking to build a firm that is mission driven, principled and benefits from the complementary experiences and skill sets of its diverse team. It will focus on business services and technology. Through the firm's Foundation, Integrum intends to invest a portion of the value it creates in a wide range of socially forward causes.

Ursula served as CEO of Xerox from 2010 to 2016 and is the first and, still only, African American woman to have led an S&P 500 company. She is leading Plum Acquisition Corp. I, a special purpose acquisition company which recently went public. Ursula previously was chairman and CEO of VEON, Ltd.

Kothapalli joins Frontline Ventures as a principal

Namratha Kothapalli leaves her role as a senior associate with Speedinvest to join another European venture firm. Namratha is now a principal with Frontline Ventures. She will focus on making seed investments in business-to-business companies.

Dublin-based Frontline raised a new 70 million euros seed fund earlier this year.

NorthEdge promotes Mills and McQuaid and brings aboard Hobbs and Wood

NorthEdge, a UK private equity firm, promotes Lucie Mills and Nicola McQuaid and brings aboard Kathy Hobbs and Ellie Wood. Both Lucie and Nicola are now directors.

Lucie, who is NorthEdge’s head of business transformation, has worked to embed the firm’s approach to value creation and support its 23 portfolio companies. She joined NorthEdge in 2019.

Nicola, who joined the firm in 2016, is on the boards of Catalis, Belfield, Arthouse and Platinum Stairlifts.

Kathy joins the firm as head of ESG. She recently completed her MBA at Alliance Manchester Business School after roles at PWC and Greensill. In her role, she will be responsible for strengthening ESG initiatives across the firm and embedding key initiatives across the portfolio.

Ellie joined NorthEdge as an investment executive from KPMG. As an investment executive, she will take part in a two-year investment training program.

NorthEdge has offices in the UK, in Manchester, Leeds and Birmingham, and manages more than 900 million pounds.

Cheong promoted to partner at Bowmark Capital

Bowmark Capital promotes Antonia Cheong. Antonia, who joined the firm in 2014, is now a partner with the private equity firm in London. Her investments include Lawyers on Demand, Pirum and Node4. Antonia has played a key role developing the firm’s business services practice. She co-leads the health care practice and is a member of the business services team. Prior to Bowmark, Antonia worked at DC Advisory Partners.

Bowmark specializes in UK growth companies valued at up to 250 million pounds.

Rochet joins JAB Holding Company as a partner

Lubomira Rochet, former chief digital officer at L'Oréal, has joined JAB Holding Company. Lubomira joins the firm as a partner.

Lubomira spent seven years at L'Oréal, where she successfully led the beauty giant’s marketing and commercial pivot to a digital-first company, scaling e-commerce to 27 percent of the group’s revenue. JAB will look for Lubomira to drive growth and digital leadership in JAB’s portfolio companies.

JAB also recently brought in Patricia Capel as a partner. Patricia was formerly at AB InBev and Ambev for nearly 25 years, where she served as president of the Andina business unit, leading operations in Chile, Bolivia, and Paraguay.

Oron to lead Blackstone’s new Tel Aviv, Israel office

Blackstone brings aboard Yifat Oron to lead a new office. Yifat joined the investment firm as a senior managing director and head of its new Tel Aviv, Israel office. In that role, she will lead the firm’s growth and tech investments in Israel for Blackstone Growth, the firm’s growth equity business. Yifat will also assist with other investing efforts across the firm.

Yifat has been CEO of LeumiTech, an Israeli technology banking platform, servicing and financing technology companies. Her background also includes serving as a partner at Vertex Venture Capital, being a technology investment banking associate at JPMorgan Chase & Co. and being a lieutenant in the economics, budget and control department at the directorate of R&D of the Israeli Ministry of Defense.

Blackstone recently closed its inaugural growth equity fund at $4.5 billion. The firm has used the fund to back such companies as Oatly, ISN, GeoComply, Ginger, Hydrogen Health, Epidemic Sound and Bumble, which went public earlier this year and whose CEO is Whitney Wolfe Herd. Blackstone has $649 billion in assets under management.

Lewis, James, Hill and Mangalick join Blackstone’s ESG team

Blackstone adds Elizabeth Lewis, Nina James, Caroline Hill and Rita Mangalick to its environmental, social, governance team. All four joined the investment firm as managing directors.

Elizabeth will handle implementation of ESG policies across Blackstone’s businesses. She most recently led engagement on key ESG topics for the International Finance Corp.

Nina will be head of real estate ESG in Asia. She was previously the general manager of responsible investment and corporate sustainability for InvestaProperty Group.

Caroline will be head of real estate ESG in Europe. She was previously head of responsible business for Lloyds Banking Group.

Rita will be global head of ESG for Blackstone Alternative Asset Management and Blackstone Credit.

The additions come as Blackstone seeks to reduce carbon emissions by 15 percent across all new investments globally, commits to ensuring that its portfolio company boards are at least one-third diverse and undertakes a program to support creative diverse hiring and career mobility.

Blackstone has $649 billion in assets under management and invests in private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds.

Sheth joins Aurelius as an investment associate

Aurelius Group appoints Shivani Sheth to its investment team after raising new fund. Shivani joins as investment associate. She is located in London.

Shivani was formerly with CIL Management Consultants where she worked on commercial due diligence mandates and strategy engagements including consumer, business services and health care sectors.

A pan-European asset manager, Aurelius successfully closed its mid-market private equity fund at 500 million euros.

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