Richmond, Virginia-based alternative investment firm Private Advisors has added Zac McCarroll and Richard Wiltshire as managing directors. Most recently, McCarroll worked for the University of Texas Investment Management Company while Wiltshire was a a senior investment officer for the Virginia Retirement System.
RICHMOND, VA – July 16, 2014 – Private Advisors, a leading alternative investment boutique headquartered in Richmond, Virginia, announced today that it is broadening its private equity capabilities and adding to its direct private equity investing expertise through the addition of two new senior investment professionals on July 1, 2014, Zac McCarroll and Richard Wiltshire. Zac McCarroll, Managing Director, will provide specialized expertise in long duration real assets strategies focused on natural resources such as energy, metals, agriculture, and supply chain infrastructure. Richard Wiltshire, Managing Director, will focus on direct equity co-investments, an area where Private Advisors has had a dedicated co-investment capability since 2006.
Private Advisors anticipates opening an office in Austin, Texas later this year with Mr. McCarroll leading the development of a real assets capability and investment team for Private Advisors. Private Advisors will launch its real assets capability with an investment program initially developed on behalf of its parent company New York Life Investment Management, with the eventual goal of offering the capability broadly to third party investors. Mr. McCarroll brings significant experience in the real assets domain, most recently as part of a small team charged with building and managing a $4 billion real assets portfolio focused on natural resources for the University of Texas Investment Management Company (“UTIMCO”) over the past seven years. UTIMCO is a leading endowment with a well-established reputation in real assets strategies. Prior to UTIMCO, Mr. McCarroll gained diverse experience in mergers and acquisitions, business development, liquid market trading, and private equity investing while with Q Investments and Enron. Mr. McCarroll has an undergraduate degree in Finance from the University of Texas at Austin, an MBA from The Wharton School of the University of Pennsylvania, and is a CFA Charterholder.
Mr. Wiltshire brings 13 years of investment experience and was most recently a senior investment officer for the Virginia Retirement System where he launched and directed their private equity co-investment program. With over $60 billion of assets under management, the Virginia Retirement System is one of the early, leading pension fund investors in private equity. Mr. Wiltshire also spent seven years with direct private equity investment firm Quad-C Management, and prior to that worked in the investment banking industry. Mr. Wiltshire earned his B.S. in Commerce from the University of Virginia.
Chris Stringer, Head of Private Equity Investments for Private Advisors, commented, “We are very excited to welcome Zac and Richard to our team. Zac brings deep real assets domain expertise in liquid and illiquid natural resources investing, developed while working at a leading endowment. We are building a real assets capability with Zac because we believe the natural resources segment is poised to achieve attractive absolute returns and offer portfolio diversification in a variety of market environments, particularly inflationary environments. Richard enhances our direct private equity skill set through his experience as both a co-investor at a leading state pension fund and a direct private equity investor at a respected middle market private equity fund. ”
About Private Advisors
Private Advisors, LLC is a leading alternative investment boutique, managing over $5.7 billion in assets as of May 31, 2014. The firm is an affiliate of the Investments Group of New York Life Insurance Company, a Fortune 100 company and one of the largest life insurers in the world*. Private Advisors is focused exclusively on non-traditional investments, including hedge funds and small company private equity and private credit. Private Advisors’ hedge fund capabilities provide investors with expertise in fundamental credit, equity and diversified hedge fund strategies. The firm’s integrated private equity platform is focused on four distinct capabilities including primary private equity fund investments, co-investments in equity and mezzanine/junior credit securities of private companies, and secondary investments. Private Advisors’ investment philosophy is focused on preserving capital and achieving strong risk adjusted returns relative to traditional and other alternative investments over time. www.privateadvisors.com