Exits picked up in Q3, and the hires behind them are getting more attention: who leads finance, where recruiting reports, and who steps in for a specific phase of the hold.

1. PE Backed/Portco CFO Hiring: Most Briefs Haven’t Kept Pace with the Role

The private equity portco CFO role was one of our most discussed topics last quarter; most effective PE portco CFOs engage earlier in operational decisions and build an evidence trail that holds up at exit. Movemeon reports the same pressure from the sponsor side: sponsors have more than doubled their operating groups since 2021.

  • Key Takeaway: We’d settle the mandate and authority before the search starts; a recent report says they’re what unlock the full value of the hire, and it estimates roughly half of PE portco CFO appointments leave within 18 months.

2. Exits Are Back: Global Exit Value Rose 65% in Q3, Led by a Few Large Sales

Global exit value was up 65% from Q2, per PitchBook’s early Q3 data. Exit count rose only 9.3%, so a handful of large deals did most of the lifting.

  • Key Takeaway: With exits reopening, a portco CFO who can build the evidence a buyer will check matters more. At the fund level, we’d expect more exits to mean more distribution and reporting work for CFO and COO teams. Let’s chat if either is a hire you’re planning.

3. Recruiting Still Joins After Strategy Is Set

Where recruiting sits in the org chart also drew a strong response last quarter. At many growth-stage firms, they bring it in after strategy is set, even though the plan depends on getting key hires right. Advisers say it shouldn’t sit three levels from the C-suite and are urging firms to have it report to the CEO or COO.

  • Key Takeaway: We’d involve recruiting while building the value creation strategy, since the plan depends on getting key hires right.

4. Interim and Freelance Demand Is Rising in PE

Movemeon found that demand for strategy and transformation talent reached its highest level in over two and a half years in the second quarter of this year, driven mainly by freelance demand in PE while permanent postings stayed flat. A quarter of new roles on its platform now mention AI, up from roughly one in six a year earlier.

  • Key Takeaway: Interim and contract leaders can cover a specific phase, such as stabilization after an acquisition or exit preparation, so we’d plan for flexible talent alongside permanent hires.

5. PE Needs Talent Beyond the Deal Team

Private capital now needs a talent base well beyond deal-doers: distribution and secondaries specialists, operating partners, data and AI talent, and people with credit workout experience. Funds are also building AI capability in-house, which will change what they look for at entry level.

  • Key Takeaway: We’d map these roles against the value creation plan early, so searches start before the need is urgent.

Our Recent/Current Executive Searches

At the Fund Level

  • VP of Portfolio Analytics & Fund Operations, $8b AUM PE. The CFO of a major fund is elevating a function that had been split across the broader team, putting several smaller functions under one person across portfolio analytics, performance reporting, treasury and fund operations.
  • Director of Finance, Management Co., $3.5b AUM Private Equity/Private Credit Fund. The COO and Partner need a senior finance professional to produce strong financial insights across the organization’s multiple funds and strategies, lead system implementations and develop scalable processes.
  • VP, Head of Data & Analytics (Finance & Ops), $9b AUM PE. The CFO of a $9b AUM PE fund is bringing in a key strategic hire to bring elevated systems and analytics/AI into the finance and operations function, improving operational process and providing scalable, repeatable, data-driven insights to the executive leadership team.
  • Head of FP&A, Alternatives (Real Estate). The CEO and CFO are bringing in a highly strategic FP&A head to better leverage data and give leadership better insights to support executive decisions.
  • Head of Investment Strategy & Business Planning, $10b AUM Private Markets.

At the Portfolio Company Level

  • Operating Advisor, Value Creation (CFO’s Office), $1b AUM LMM/MM PE. The Managing Partner and Head of Portfolio Ops want to expand the team with their first specialist, to work with portco CFOs on building high-value finance functions.
  • CFO, Mid-Market PE-Backed Specialty Manufacturer. A portco experiencing rapid growth needed a more senior, multi-time CFO with deep experience in M&A integrations and team building, and leadership to prep the company for exit.
  • CFO, LMM Business Services. A lower middle market business services company in a “blue collar” business needed a PE-ready CFO to establish an elevated finance function that gives the sponsor and executive leadership clarity, insight and reporting.
  • FP&A Lead, LMM Industrials PortCo. A lower middle market, PE-backed industrials portco needed its first mid/senior-level FP&A hire to establish the function under the CFO and provide the forward-looking analytics the sponsor and executive team require.

Human Capital

  • Human Capital Operating Executive, $3b AUM PE. A top-performing $3b AUM PE firm needed an HR/TA-focused operating executive to build and execute strategy for its portcos, plus the internal organization assessment and design, leadership development and talent acquisition.

Notable Market Moves: C-Suite & Executive Appointments

CFO PE/VC

  • Isaac Strulowitz joins Franchise Equity Partners (FEP) (AUM $1.5b) as Chief Financial Officer. He previously served as Chief Financial Officer & Partner at Treville Capital Group (formerly CoVenture).
  • John Munz is promoted to Chief Financial Officer & Chief Compliance Officer at Silver Oak Services Partners (AUM $1.8b+). He previously served as Vice President of Finance.
  • Masumi Waida joins Ara Partners (AUM ~$10.6b) as Chief Financial Officer. He previously served as Chief Financial Officer at ACON Investments.
  • Axel André joins TPG (AUM ~$327b) as Partner & Chief Financial Officer. He previously served as Chief Financial Officer at Reinsurance Group of America (RGA).
  • Lindsey Norris Zolet is promoted to Chief Financial Officer at Martis Capital (AUM $2.4b). She previously served as Controller at Martis Capital.
  • Holly Scott Atallah joins NaviMed Capital (AUM $900m+) as Chief Financial Officer & Vice President of Compliance. She previously served as Director of Finance & Operations at BroadOak Capital Partners.
  • Scot Pasquale joins Mudrick Capital Management (AUM ~$3.2–3.3b) as Chief Financial Officer. He previously served as Chief Financial Officer at Marathon Asset Management.
  • Greg Lyon was promoted to Partner, Chief Operating Officer and Chief Financial Officer at Eclipse Ventures (AUM ~$10b). He previously served as Chief Financial Officer at Eclipse Ventures.
  • Anthony Tsai is promoted at Martis Capital (AUM $2.4b) to Chief Compliance Officer and Director of Finance. He previously served as Director of Accounting, following his earlier role as Controller.

COO PE/VC

  • William Sonneborn joins Hunter Point Capital (AUM $10b+) as President & Chief Operating Officer. He previously served as President & Member of the Board of Directors at Generate Capital.
  • Amy Rice joins Pacific Avenue Capital Partners (AUM $4.9b+) as Chief Operating Officer. She previously served as Managing Director, Capital Solutions at Oaktree Capital Management.
  • Brian Taranto joins HarbourVest Partners (AUM $147b+) as Managing Director & Chief Operating Officer of Global Private Wealth. He previously served as Managing Director at Morgan Stanley Investment Management, overseeing the distribution management team across U.S. Intermediary Distribution.
  • Jessi Marshall joins Weatherford Capital (AUM $1b) as Partner & Chief Operating Officer, following a brief period as a Consultant with the firm. She previously served as Managing Director, Head of Strategy & Operations at Vista Equity Partners.
  • Jason Parry joins MountainStar Partners as Chief Operating Officer. He previously served as Chief Strategy Officer at Suddath, while also serving as a Founding Member & Manager at WayBright.co.

Human Capital – Operating Executives & PE HR

  • Wilma Nacion joins One William Street Capital Management (AUM ~$11.3b) as Chief Human Resources Officer. She previously served as Managing Director, Global Head of Human Resources at KPS Capital Partners.
  • Margot Langsdorf joins HGGC (AUM $10b+) as Operating Partner, Talent. She previously served as Talent Partner at TCG (The Chernin Group).
  • Jack Beatty joins Percheron Capital (AUM $8b+) as Director, Portfolio Talent. He previously served as Principal at Acertitude, an executive search and leadership advisory firm.
  • Manu Antonio joins Andreessen Horowitz / a16z (AUM ~$106.5b) as Partner, Executive Talent. He previously served as Senior Director, Talent at Norwest Venture Partners.
  • Marie Suesse joins TA Associates (AUM $50b+) as Chief Human Capital Officer. She previously served as Global Head of Human Capital, Communications & Administration at Värde Partners.
  • Alana Zell joins Serent Capital (AUM $6b) as Executive Vice President, Human Capital. She previously served as Executive Director, Talent Acquisition at Vista Equity Partners.
  • Jason O’Briant joins Vision Ridge Partners (AUM ~$5.5b) as Head of Portfolio Talent. He previously served as Founder & President of O’Briant Advisory and, prior to that, as a Managing Director at Blackstone.
  • Allison Shiel Kuziw joins Mill Point Capital (AUM ~$3.5b) as Head of Human Capital. She previously served as Global Human Resources Executive at Marlin Equity Partners.
  • Ben Passafuime joins Battery Ventures (AUM ~$14b) as Talent Partner. He previously served as Vice President at Alpine Investors, where he led executive portfolio and CEO-in-Residence talent acquisition.
  • Teddy Andrews joins Carlson Private Capital Partners as Head of Talent. He previously served as Head of Talent at Sole Source Capital.
  • Joe R. Schuster joins Valor Equity Partners (AUM ~$16b) as Vice President, Talent. He previously served as Senior Vice President, Head of Talent at Tide Rock.
  • Catherine Farrow is promoted to Managing Director & Head of Human Capital at Charlesbank Capital Partners (AUM ~$22b). She joined Charlesbank in 2024 as Head of Human Capital and previously served as Vice President, Talent & Operations at Bain & Company.

Operating Partners and Execs

  • Ed Jones joins RoundTable Healthcare Partners (AUM ~$3.1b) as Operating Partner. He previously served as President & Chief Executive Officer of HealthTrust Performance Group / HCA Healthcare, a role he held for nearly 14 years.
  • Ross Bushnell joins One Rock Capital Partners (AUM ~$9.7b) as Operating Partner, focused on chemicals and process industries. He previously served as President & Chief Executive Officer at Pixelle Specialty Solutions.
  • Tom Orr joins Avista Healthcare Partners (over $10b invested historically) as Strategic Executive. He previously served as President & CEO of Seaway Plastics Engineering.
  • Nicholas Landry joins Abry Partners (AUM ~$16–17b) as Chief Financial Officer Operating Partner. He previously served as Head of Finance at EisnerAmper.
  • Justin Leavitt joins Regal Healthcare Capital Partners (AUM ~$1.3b) as CFO Operating Partner. He previously served as Chief Financial Officer at Lightfully Behavioral Health.
  • Maisha Glover joins Capitol Meridian Partners (AUM $1.9b) as Operating Partner. She previously served as Partner at McKinsey & Company, following senior leadership experience at Booz Allen Hamilton.
  • Leonard “Butch” Dollaga was promoted at AE Industrial Partners as Operating Partner. He previously was the Managing Director of Washington Operations.
  • Kate Jhaveri joins Eden Capital as Operating Partner. She previously held senior marketing leadership roles at TikTok, Twitch, Twitter, Facebook and the NBA.
  • Adam Feuer joins GenNx360 Capital Partners (AUM ~$2.2b) as Operating Partner. He previously served as Operating Partner & Board Director at One Rock Capital Partners.
  • Rob Holcomb joins The Halifax Group (AUM $1.5b+) as Operating Executive. He previously served as Director of Analytics at Johnson & Johnson.
  • Anne Bailey is promoted to Lead Operating Partner at Blue Wolf Capital Partners, overseeing the firm’s portfolio operations team. She has served as an Operating Partner at Blue Wolf since 2024 and previously was President of Modivcare Home.

BD/IR

  • Adam Biren joins AEA Investors (AUM ~$19b) as Partner & Head of Capital Formation – Americas, responsible for capital formation across North America. He previously served as Managing Director at Apollo Global Management.
  • K Dowley joins Vance Street Capital (AUM ~$1.9b) as Head of Investor Relations. She previously led Fundraising & Investor Relations at W Capital Partners, which was acquired by AXA Investment Managers.
  • Michael Knapp joins Angeles Equity Partners (nearly $1b in capital commitments) as Managing Director & Head of Business Development. He previously served as Managing Director at Levine Leichtman Capital Partners.
  • Eliza Oshana McGrath joins Tayeh Capital Group as Managing Director, Head of Investor Relations & Capital Formation. She previously served as Head of Alternatives Sales at Northern Trust Asset Management.
  • Patrick Morin joined HarbourView Equity Partners early this year (AUM ~$2.7b) as Managing Director. He previously served as Managing Director at Cambridge Associates.
  • Cheryl Cecchini Leahy joins Farallon Capital Management (AUM ~$41b) as Managing Director, Business Development & Investor Relations. She previously served as Senior Managing Director, Global Co-Head of Capital & Partner Solutions at Vista Equity Partners.
  • Kristin Baran joins Flexstone Partners (AUM & advisory ~$15b) as Managing Director – Investor Relations. She previously served as Principal – Investor Relations at Glouston Capital Partners, which was acquired by Flexstone in September 2026.
  • Gretchen Robinson joins True Ventures ($4b in committed capital) as its first Head of Investor Relations. She previously served as Director, Capital Formation – Business Development at GI Partners, where she oversaw investor relations for the firm’s private equity funds.
  • Elizabeth Donovan joins Main Street Advisors (AUM ~$8b) as Head of Investor Relations. She previously served as Head of Investor Relations & Business Development – Global at Left Lane Capital.
  • Lara Woo joins Accel (AUM ~$36b) as Partner, Investor Relations. She previously served as Head of Investor Relations at Innovation Endeavors.
  • Patrick Kelly joins Janus Henderson Investors (AUM ~$500b) as Head of Investor Relations – Ascent Private Markets. He previously served as Managing Director at Bernstein Private Wealth Management.
  • Lauren Morea joins Radical Ventures (AUM ~$1.8b) as Partner & Head of Investor Relations & Capital Formation. She previously served as Managing Director & Head of Americas Capital Formation at L Catterton.
  • Michael G. Welch joins Ballast Rock Asset Management as Head of Investor Relations and Capital Formation. He previously served as Senior Managing Director and Head of Relationship Management and Investor Relations at PPM America (~$73b AUM).