Former Harvest non-control-fund chief starts his own firm

Jay Hegenbart, who led a non-control investment program at Harvest Partners, left the firm last year and is forming his own shop.

Called Infinedi Partners, the firm appears to be in the early stages of formation, according to its website. Whether Infinedi has a fund on the market is unclear, though a source said it plans to raise capital.

Infinedi also is in the process of staffing up, the source said.

It’s not clear why Hegenbart left Harvest. Caroline Luz, a spokeswoman for Harvest, did not return a request for comment.

Hegenbart worked at Harvest Partners from 2009 through last year. He became senior managing director of the Structured Capital strategy in late 2014, according to his LinkedIn profile.

Harvest Capital Structured Capital Fund raised at least $331.7 million for its debut fund, a Form D fundraising filing in August 2016 shows. The firm was targeting $600 million for the second Structured Capital fund, according to a fundraising document filed in December.

Harvest, meanwhile, said in January that Steven Duke and Sean Murphy would lead the structured capital business. They were promoted to partners from managing directors, the firm said. Duke joined Harvest in 2014 and Murphy in 2016.

Action Item: Read Harvest’s Form ADV here: https://bit.ly/2FcnPxl

Photo of Jay Hegenbart sourced from LinkedIn