PE HUB Wire Highlights, 8.21.18

VC Rothenberg settles with SEC, Ex-Welsh Carson execs launch debut fund


Debut fund: A group of ex-Welsh Carson executives formed a new firm called Saroras Private Capital, eyeing $600 million for its debut fund. The firm targets investments in middle-market tech and business services companies.

Saroras is led by Sanjay Swani, who previously co-led Welsh Carson’s information and business services group. Swani left in September 2016 after about 17 years at the firm. He is joined by Co-Founder and Chairman Robert Minicucci, who was previously a general partner, co-managing partner and member of the management committee at Welsh Carson.

Check out my full story here.

People move: Gallant Capital Partners, a new firm formed by two ex-Gores Group executives, hired Desmond Nugent as partner and head of operations. Nugent formerly oversaw OpenGate Capital’s portfolio of North American businesses and provided the M&A team operational support on all deals across the Americas.

Prior to OpenGate, Nugent worked at Gores Group, responsible for portfolio company financial oversight and partnering with management teams to drive revenue growth, operational effectiveness and profit management, according to his biography on an archived version of OpenGate’s website. Read our brief here.

Gallant was formed by Anthony Guagliano and Jon Gimbel. Guagliano was a managing director at Gores and Gimbel was a managing director on Gores’s small-cap investment team. Gallant is in market targeting $300 million for its debut fund. Read more about Gallant here.

Uh-ohSEC charged VC Michael Rothenberg, 34, and his firm with fraud for allegedly overcharging investors to fund personal projects, including his own virtual reality production company.


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