Job of the Week: Chance of a Private Equity Lifetime?

Want to join a niche start-up buyout firm at the managing director level? Not many opportunities like this come up in the buyout space so here’s a chance to give it a shot. This week’s job posting comes from Ennovance Capital, a mid-market private equity firm focused on buyouts, growth capital and special situations exclusively in the chemicals, specialty materials, health care and chemistry markets

The total value of global health care buyouts has been on the up since 2008, reaching $17.9 billion in 106 deals in 2011, up from $12.3 billion in 104 deals in 2010, according to figures from Thomson Reuters. Health care buyout deal value in 2011 accounted for 12% of the total global buyout market. Total value of the global chemicals buyout market has also been on the up since 2008 as well, reaching $4.3 billion in 33 deals in 2011 up from $2.3 billion in 32 deals in 2010. Chemicals buyouts accounted for 3% of the total global buyout market in 2011.

The job vacancy is a great example of how private equity is evolving, as firms become more specialized to stand out during fundraisings. Through this appointment Ennovance Capital is looking for a candidate with a strong investment track record to complement the industry track records of the other partners.

Gail McManus, managing director of London-based Private Equity Recruitment, says of this week’s job posting: “This is a fascinating job of the week and challenging role to fill. The private equity professional that is being sought here has the opportunity to be in at the early stages of a new private equity venture and share in some of the rewards of being in at the beginning, which should include significant share in the upside.”

But she warns that new firms like this sometimes undervalue an investment track record. “It will be vital to value it appropriately if they want to attract someone of the right calibre to ensure a fundraising is successful – and value means pay for it in terms of share of the upside in the fund.”

The key phrase in the appointment is “entrepreneurial” which, McManus suggests, implies the candidate will need to ‘buy in’ to the start up – certainly emotionally and probably financially – by trading short term compensation for longer term reward.

See below for further details if you’re interested.

***Job of the Week***

Position: Managing Director

Firm: Ennovance Capital LLC

Equivalent base salary at managing director level at a mid-market private equity firm (based on 2011-2012 Holt-Thomson Reuters PE/VC Compensation Report; this does not come from Ennovance): $325,600; Salary plus bonus: $623,200

Location: Philadelphia, Pennsylvania (USA Mid-Atlantic States)

Firm Description: Ennovance Capital is a mid-market private equity firm focused on buyouts, growth capital and special situations in global chemical, specialty material, health care and chemistry related businesses. The firm was founded by a group of senior Fortune100 operating executives from the chemicals and health care industries with a long history of working together as a top-performing team coupled with seasoned investment professionals from a variety of different backgrounds.

Job Description (as cited by Ennovance Capital): Ennovance Capital is looking to augment its team at the senior leadership level with an entrepreneurial individual who will be expected to:

• Use an established network to source deals and take a lead role in all aspects of the investment process (the candidate must be hands-on execution focused)
• Utilize existing relationships for accessing capital and active participation in the fundraising process

Qualifications (as cited by Ennovance Capital): The entrepreneurial, action/result oriented candidate must have a compelling desire to join a specialist, start-up private equity investment firm.

• MUST have 10+ years of principal investment experience with a top-tier private equity firm with a proven investment track record of delivering superior returns
• Have experience raising private equity funds and network of relationships/contacts within the limited partner community and private equity industry
• High integrity, creative problem solver, flexible/adoptable, persistent and exceptional ability to execute on strategy
• Bachelor’s degree; MBA/CFA/CPA/JD preferred, but not required

Contact: Please submit your resume, deal sheet, and professional references to

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