New State Capital hires four, including ex-SVP executive Daniel Han as head of special strategies

Han joined from Strategic Value Partners, where he was co-head of North American investments. 

New State Capital Partners hired four executives and promoted two. The firm hired Daniel Han, head of special strategies; Parashar Ranade as senior principal; William Marshall as operating partner; and Victoria Smorodinova as an associate. New State also promoted Kurt Lentz to senior principal and Adam McDowell to senior associate. Han joined from Strategic Value Partners, where he was co-head of North American investments.

Press Release

New State Capital Partners (“New State”) today announced the addition of four new executives and two promotions. Daniel Han joined as Head of Special Strategies; Parashar Ranade was named Senior Principal; William Marshall was appointed Operating Partner, CFO Operations; and Victoria Smorodinova joins the investment deal team as Associate. In addition, the firm has promoted Kurt Lentz to Senior Principal and Adam McDowell to Senior Associate. New State is a middle-market private equity firm that invests in business services, industrials, and consumer products.

“We are very pleased to welcome these four accomplished new members to our team and to acknowledge the contributions of Kurt and Adam with their promotions,” said David Blechman, Founder and Senior Principal of New State. “Our recent investments in executive search firm Klein Hersh and consumer products wholesaler KMS are indicative of our rapid growth and the need to build our resources as we move into 2021. The appointments of Daniel, Parashar, William and Victoria expand our team to an appropriate size and capacity for sourcing and analyzing investments, as well as for increasing our focus on working with independent sponsors.”

Mr. Han brings 20 years of experience in distressed credit, private equity and investment banking experience across a variety of industries, including industrials, metals, financials, infrastructure and consumer retail. Previously, he was Co-Head of North American Investments at Strategic Value Partners and a Principal at Wellspring Capital Management, where he sat on the investment committee and led transactions across the industrial and consumer sectors. He has served on 10 corporate boards, including those of publicly listed companies.

Mr. Ranade joins with 15 years of experience investing in leveraged buyouts, founder/family recapitalizations and corporate carve-outs spanning a wide range of industries including business services, technology, industrial, government services, consumer products and energy services. Prior to joining New State, he was a Principal in the U.S. LBO Fund of H.I.G. Before that, Mr. Ranade worked with Tower Three Partners, a middle-market private equity firm.

Mr. Marshall brings nine years of experience in CFO activities, investment banking, and family office investment. Prior to joining New State, he was a director in the Office of the CFO Solutions at FTI Consulting, where he led and executed client engagements for sponsor-owned companies. Previously, Mr. Marshall was an investment banker at North Point Advisors.

Prior to joining New State, Ms. Smorodinova was an Investment Banking Analyst at Stephens Inc., where she worked on a variety of middle-market transactions and assisted in the evaluation of investments for Stephens Capital Partners.

About New State Capital Partners

New State Capital Partners LLC is an entrepreneurial-minded private equity firm that strives to be nimble, decisive and cooperative. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships with company founders, independent sponsors, and others. New State seeks to invest in market-leading companies with $8 million to $30 million of EBITDA in the areas of business services, industrials, and consumer. New State can commit more than $50 million of equity capital per transaction, using a variety of investment structures, through New State Capital Partners II, LP. New State and its affiliates have invested in 25 companies to date. For more information visit