Texas Growth Fund Adds Partner to Help Vet Deals –

TGF Management Group, the private equity group that invests only in Texas and has only Texas-based limited partners, has added a fourth partner.

Barry Twomey, who most recently served as a principal at Electra Fleming Inc.’s New York offices, began working at the firm last month, according to James Kozlowski, a partner at TGF.

Mr. Twomey, along with the other three partners, including Stephen Soileau and Brent Humphries, will work in all areas of the firm’s investment activities, Mr. Kozlowski said. Mr. Twomey and Mr. Kozlowski had worked together at Fortis Priave Capital in New York in the early 1990s, Mr. Kozlowski said.

TGF, based in Austin, Texas, wrapped its third fund late last year on $450 million (BUYOUTS Feb. 8, 1999).

The firm has yet to make an investment from its third fund, but should close its first transaction from Fund III in the next month, Mr. Kozlowski said, potentially the buyout of an equipment leasing business. TGF also will be looking to acquire companies that attempted to go public in the fall but failed because of market turbulence, he said.