About

Private equity small market specialists

Permal Capital Management is a private equity investment specialist with over 20 years of dedicated experience and $2.3 billion in committed capital as of June 30, 2016. Since inception in 1994, we have focused on opportunities at the smaller end of the market. The Firm’s investment platform of secondary market funds and primary fund-of-funds has grown to include commingled vehicles, separately managed accounts and direct co-investments. We leverage our extensive knowledge of the marketplace, experience in various economic cycles, access to quality private equity managers and expertise in evaluating managers and investment opportunities to provide our global client-base with thoughtful and dynamic solutions to achieve their investment goals.

1990 

Investment team established

1994 

First dedicated multi-manager private equity fund formed

1997 

First custom account created

2002 

First dedicated secondary market fund formed

Permal Capital Management established as a stand-alone private equity firm and team purchased direct economic stake in the Firm

2006 

First external separately managed account launched with a large defined benefit client

2007 

Team increased economic stake in the Firm to 80%

2011 

First regionally focused separately managed primary account created with a large public pension plan

 

Investment Solutions

Dedicated to the small end of the market

Offering liquidity solutions to sellers at the small end of the market since the Firm’s inception

Permal Capital Management targets mature limited partnership interests in buyout, growth and venture capital with a focus on transactions less than $75 million. We believe the small end of the market can be less efficient and can offer opportunities to purchase quality assets at attractive prices. Our secondary funds consist of a dynamic blend of deal structures including single interests, small portfolios, structured transactions, secondary directs and restructurings which are sourced from a wide variety of global sellers. Our clients benefit from our breadth of knowledge and 13 years of experience investing in the secondary market as well as our commitment to a thorough due diligence process.

Constructing portfolios of smaller buyout, growth capital and venture capital funds primarily focused in the U.S.

Our clients benefit from our dedication to creating stable and diversified private equity portfolios. These portfolios consist of small to mid-sized buyout, growth and venture capital funds managed by experienced teams with proven track records as well as emerging managers with strong potential to create favorable returns. Our primary funds are diversified in strategy and include secondary exposure for j-curve mitigation as well as the ability to customize the desired exposure between buyout and venture capital.

Active co-invest program encompassing companies in a wide variety of industries

The Firm has been investing directly in companies since its inception, and our team has gained considerable experience in evaluating, investing in and monitoring private companies at various stages in their lifecycles and in a number of different industries. We participate in direct investments as co-investors alongside high quality managers with specific expertise in the target companies’ industries and with whom the Firm has existing and strong relationships.

Tailoring private equity solutions with investors to satisfy their unique investment objectives

The Firm has developed expertise in creating tailored private equity vehicles with investors in order to satisfy their unique investment objectives such as regional or geographic focus, sector specific focus, emerging managers or vehicle structure. The Firm’s goal is to selectively provide a broad range of services covering all aspects of the asset class for investors that value a long-term partnership with Permal Capital Management. Customized programs offer investors the ultimate flexibility in defining their optimal portfolio and risk tolerance. Our team will work to understand the needs of our clients and how best to construct, evaluate and manage their customized solutions.

TEAM

Red Barrett

Red Barrett

President and Chief Executive Officer

Mr. Barrett joined the Firm in 1989 and has been its President and Chief Executive Officer since 2000, during which time he has overseen the Firm’s growth including its expansion into the secondary market for private equity and the development of its institutional investor base. Mr. Barrett serves on a number of fund advisory boards and has held board or board observer roles in a number of private and public companies. Previously, Mr. Barrett was a Managing Director of Gemini Investors, a private equity firm focused on growth capital investments, served as an equity analyst for Fidelity Management and Research and held various positions with Keefe, Bruyette and Woods, Inc., an investment banking firm. Mr. Barrett graduated from Princeton University and holds an MBA from the Amos Tuck School of Business at Dartmouth.

Michael D’Agostino

Michael D’Agostino

Managing Director

Mr. D’Agostino joined the Firm in 2008 and is responsible for investor relations as well as participating in the review, analysis, due diligence and monitoring of portfolio investments. Previously, he was the Chief Operating Officer of Andesite, LLC, a Boston-based global life sciences long/short fund. Prior to 2004, he was President of Hartland & Co., an institutional investment consulting firm, where he worked with corporate defined benefit plans, foundations, endowments and healthcare institutions. Prior to Hartland & Co., he held various positions at The Boston Company. Mr. D’Agostino graduated from Colby College with a BA in Economics and holds an MBA from Case Western Reserve University. He is a member of the CFA Institute and the Boston Security Analysts Society.

Robert Di Geronimo

Robert Di Geronimo

Managing Director

Mr. Di Geronimo joined the Firm in 1998 and is responsible for sourcing and evaluating investment opportunities, interviewing managers, performing financial analysis of portfolio investments, monitoring existing investments, as well as overseeing junior investment professionals. Prior to joining PCM, Mr. Di Geronimo was a Senior Associate with Price Waterhouse in the Investment Partnership and Offshore Fund practice where he audited funds managed by various investment firms including PCM. He graduated from the University of Delaware with a BS in Accounting and a minor in Management Information Systems.

Ben Marino

Ben Marino

Managing Director, Chief Financial Officer and Chief Compliance Officer

Mr. Marino joined the Firm in 2003 and is responsible for the day-to-day operations, compliance and financial reporting of the private equity funds as well as participating in the review, analysis, due diligence and closing of portfolio investments. Previously, he was the Assistant Controller of Summit Partners, a large Boston-based private equity and venture capital firm. In addition, he has worked as an Accounting Manager at a diversified Massachusetts real estate company and began his career at Price Waterhouse where he was a Senior Associate. He graduated from the University of Massachusetts at Amherst with a BS in Accounting and holds an MBA from Northeastern University.

Adriaan Zur Muhlen

Adriaan Zur Muhlen

Managing Director

Mr. Zur Muhlen joined the Firm in 2007 and is responsible for sourcing and evaluating investment opportunities, interviewing managers, performing financial analysis of portfolio investments, monitoring existing investments, as well as overseeing junior investment professionals. Prior to joining PCM, Mr. Zur Muhlen was a Managing Director at Spinnaker Capital LLC where he made commitments to private equity funds, as well as direct investments in private companies. Prior to 2002, Mr. Zur Muhlen was Vice President of Corporate Development at CMGI. In his earlier career, he worked as a strategy consultant at Corporate Decisions Inc. and served as a Product Manager with Procter & Gamble. Mr. Zur Muhlen graduated with a BS in Economics from Miami University of Ohio and has an MBA from Harvard Business School.

Aaron Bright

Aaron Bright

Principal

Mr. Bright joined the Firm in 2007 with primary responsibility in the investment management function, including evaluation, analysis and monitoring of portfolio investments. Previously, he worked at Kendall Investments, a Cambridge, Massachusetts-based private equity fund-of-funds, where he evaluated, analyzed and monitored private equity portfolio investments. Prior to Kendall Investments, Mr. Bright was a Senior Associate at Cambridge Associates, a Boston-based investment consulting firm, where he focused on private equity investments. He graduated from Washington University with a BS in Accounting and holds an MBA and MSF from Boston College’s Carroll School of Management.

John Cancellieri, CFA

John Cancellieri, CFA

Principal

Mr. Cancellieri joined the Firm in 2016 with primary responsibility in the investment management function, including evaluation, analysis and monitoring of portfolio investments.  Previously, he worked as an Investment Director at SL Capital Partners, a global private equity fund-of-funds firm.  Prior to SL Capital, Mr. Cancellieri held various finance roles at General Electric, including the company’s Financial Management Program and Corporate Audit Staff.  He graduated from Wake Forest University with a BS in Finance and holds an MBA from Boston College’s Carroll School of Management.  Mr. Cancellieri is a CFA charterholder and a member of the Boston Security Analysts Society.

 

Pamela Hanafi

Pamela Hanafi

Senior Associate

Ms. Hanafi joined the Firm in 2013 and has primary responsibilities in the investment management function, including evaluation, analysis and monitoring of portfolio investments. Prior to joining PCM, she was an Associate in KPMG’s Economic and Valuation Services Group. Ms. Hanafi received a BA from Emory University and a MA from Brandeis University.

Nicholas Keches

Nicholas Keches

Senior Associate

Mr. Keches joined the Firm in 2012 with primary responsibilities in the investment management function, including evaluation, analysis and monitoring of portfolio investments. Previously, he was a Finance Associate at Capital One Financial. Mr. Keches received a BS from the University of Richmond and a MSM from Babson College.

Walker Guffey

Walker Guffey

Senior Investment Analyst

Mr. Guffey joined the Firm in 2016 and has primary responsibilities in the investment management function, including evaluation, analysis and monitoring of portfolio investments. Prior to joining PCM, he was an Analyst in Wells Fargo Security’s Capital Strategies Group. Mr. Guffey received a BS in Economics from Duke University.

Kristin Baran

Kristin Baran

Senior Associate

Ms. Baran joined the Firm in 2015 with primary responsibilities focused on PCM’s investor relations efforts. Previously, she worked as a Consultant Relations Specialist at HarbourVest Partners, a Boston-based private equity fund-of-funds firm, where she coordinated, monitored and enhanced relationships with consultants and their clients. Ms. Baran is a graduate of Saint Michael’s College where she holds a BA in English Literature.

Donald Childs

Donald Childs

Controller

Mr. Childs joined the Firm in 2006 and is responsible for supporting Permal Capital Management’s administrative, operational and reporting functions. Previously, he was a Private Equity Performance Analyst with The Private Edge Group, State Street Corporation. In addition, he has also worked with the United Way of Central Maryland. Mr. Childs holds a BA from the College of the Holy Cross and an MBA from Boston College’s Carroll School of Management.

Minden Rodenhouse

Minden Rodenhouse

Finance Manager

Ms. Rodenhouse joined in the Firm in 2007 and is responsible for supporting Permal Capital Management’s administrative, operational and reporting functions. Prior to joining PCM, she was a Fund Accountant with Investors Bank & Trust in Boston. Ms. Rodenhouse is a graduate of Wheaton College where she holds a BA in Economics.

Ian Francey

Ian Francey

Senior Finance Associate

Mr. Francey joined the Firm in 2012 and is responsible for supporting Permal Capital Management’s administrative, operational and reporting functions. Prior to joining PCM, Mr. Francey was a Private Equity Fund Accountant with the State Street Corporation. He earned his BS in Business Administration from Northeastern University with concentrations in Finance and Accounting.

Nicole Ouellette

Nicole Ouellette

Senior Finance Associate

Ms. Ouellette joined the Firm in 2011 and is responsible for supporting Permal Capital Management’s administrative, operational and reporting functions. Prior to joining PCM, she was a Fund Accountant with State Street Corporation. Ms. Ouellette holds a BS in Finance and Economics from Babson College and a MBA from the Olin Graduate School of Business at Babson College.

Kara Kiely

Kara Kiely

Executive Assistant

Ms. Kiely joined the Firm in 2009 and is responsible for Permal Capital Management’s general administrative functions. Prior to joining PCM, she was a Media Coordinator at ISM Marketing Strategies located in Boston, Massachusetts. Ms. Kiely graduated from Plymouth State University with a BS in Marketing.

Christa Sharis

Christa Sharis

Administrative Assistant

Ms. Sharis joined the Firm in 2013 and is responsible for Permal Capital Management’s general administrative functions. Prior to joining PCM, she was an Administrative Assistant at NCG Offices Systems, Inc. located in Tewksbury, Massachusetts. Ms. Sharis graduated from Suffolk University with a BA in Fine Arts.

Lesley Johnson

Lesley Johnson

Receptionist

Ms. Johnson joined the Firm in 2015 and is responsible for Permal Capital Management’s general administrative functions. Prior to joining PCM, she was a Marketing Assistant at McFadden’s Restaurant, located in San Diego, California. Ms. Johnson graduated from San Diego State University with a BA in Communication.

Contact Us

  • 800 Boylston Street, Suite 1325

  • Boston, Massachusetts 02199-7610
    United States
  • P: 617-587-5300
  • F: 617-587-5301
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New York

  • 900 Third Avenue

  • New York, New York 10022
  • P: 212-418-6500
  • F: 212-418-6510
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