Saratoga Builds Lineup, Two P.E. Pros Join Firm –

Saratoga Partners last month added Richard Campbell, a former managing director of Saugatuck Associates, and David Niemiec, former Dillon, Read & Co. chief financial officer, as partners at the New York-based firm.

According to Mr. Campbell, he had a long-standing relationship with Saratoga stemming from co-investments that Saugatuck had made alongside prior Saratoga funds.

Although Mr. Campbell already has joined Saratoga, he said he will continue to be actively involved in the managing of Saugatuck portfolio companies.

Prior to joining Saugatuck, Mr. Campbell was an executive vice president and chief financial officer at PaineWebber Group and also served as a special assistant to Henry Kissinger during his time in the White House and State Department.

While at Dillon Read, Mr. Niemiec was a member of the firm’s four-person management committee and was vice chairman of the board. He also managed Dillon Read’s direct investment program.

In addition to buyout and venture capital experience, Mr. Niemiec also served on Dillon Read’s bridge loan and high-yield financing commitment committee, and worked in the merger and restructuring arbitrage business.

Saratoga in October held a first close on $240 million for its fourth buyout fund (BUYOUTS Oct. 26, 1998, p. 8) and is anticipating a final close on its $300 million target in the first half of this year.