Paul Lattanzio, president of Star Avenue Capital, has left the growth equity firm after more than four years to join Alvarez & Marsal, a source said.
Lattanzio left Star Avenue last week and was joined at Alvarez by Star Avenue Principal Drew Baird, the source said.
Lattanzio and Baird are managing directors of Alvarez & Marsal Capital, the private equity arm of the firm. The pair is charged with making growth investments in companies with a minimum of $5 million EBITDA, the source said. Sectors of interest include consumer, retail, light industrial, healthcare services and business services.
With offices in New York and Los Angeles, Star Avenue is the growth equity affiliate of Irving Place Capital and Creative Artists Agency. Star Avenue, a fundless sponsor, raises money deal-by-deal and focuses on companies in consumer brands, retail, apparel and fashion.
Lattanzio and Baird are still listed on the Star Avenue website. Executives for Star did not return calls for comment.
Both execs joined Star Avenue in May 2010, a statement from that time said. Before Star, Lattanzio was a Senior managing director and head of Bear Growth Capital Partners, the growth equity affiliate of Bear Stearns Merchant Banking. Baird was a senior associate at BGCP.
Bear Stearns Merchant Banking is the predecessor of Irving Place Capital.
Irving Place, CAA and Alvarez & Marsal could not be reached for comment.
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