New Commonfund Hires To Work On Separate Accounts, Secondaries

Altogether, Commonfund Capital directly manages about $12 billion in private equity, venture and natural resource investments for about 700 clients, either through funds of funds or the many separate accounts that it manages on behalf of its investors.

Yates, who was named a managing director, will be responsible for portfolio construction of the investment firm’s separate accounts. According to Luke, investors that are not inclined to stick with the ‘house mix’ of funds of funds have been increasingly interested in such customized solutions. Such investors, said Luke, are “not ready to go direct, but have a different need than commingled partnerships.”

A fluent Spanish speaker who originally joined Commonfund Capital in 2000, Yates will also be responsible for helping oversee the firm’s fund relationships across South America.

Jansen, meanwhile, was named an associate director and will focus on private equity, and particularly the secondary market. He comes from Darien, Conn.-based Portfolio Advisors, a private equity funds-of-funds firm, where he specialized in due diligence and emerging markets investments.  Luke said that Jansen will add to Commonfund Capital’s “bench strength” in private equity and also research secondary opportunities. Both Yates and Jansen have started their new roles.

While separate accounts are an increasing focus of the firm, Commonfund Capital is currently raising three funds of funds, according to Thomson One, including Commonfund Capital Private Equity Partners VIII LP, which has so far raised $657 million and is expected to close soon. Other open funds include Commonfund Capital Natural Resources Partners IX LP, which has so far raised $292 million and Commonfund Capital Emerging Markets I LP, which has yet to reach an interim close, according to Thomson One.

In addition, Commonfund Capital said Leenong Li, who heads the Beijing office, would be promoted to managing director. Leenong joined in 2010 to help establish the office and has been responsible for growing the firm’s presence in Asia.

The group also promoted Mark Hoeing, who has been the head of Commonfund Capital’s London office since 2009.  He will now head the firm’s European operations. Finally, Brijesh Jeevarathnam, a managing director who joined the firm in 2006, was promoted to be co-head of venture capital.

Commonfund, which overall manages $25 billion in client assets, was founded in 1971. It manages the assets of non-profit institutions, pension funds, and other institutional investors. Its private investment subsidiary, Commonfund Capital, was founded in 1988 and manages more than $12 billion of that capital.

Manuela Badawy is a New York-based correspondent for sister news service Reuters.