Changes in the management team of Federated Hermes Private Equity
5 AUG, 2024
Federated Hermes has announced three changes in the management of its Federated Hermes Private Equity business. Brooks Harrington, until now deputy general manager and investment director in the US, has been promoted to CIO of Private Equity. In his new role, Brooks Harrington is responsible for the investment team and ensuring the continued performance of investments for Federated Hermes Private Equity clients. Brooks brings extensive experience leading high-yield investments, having been with the firm since 2015, when he joined from GE Capital.
In addition, Cameron Payne, who serves as co-investment director of EMEA, has been named member of the Global Investment Committee of Private Equity. Since joining Federated Hermes in 2015, Cameron has played an integral role in the evolution of the business's active co-investment model, participating in high-profile transactions, completing more than 40 deals and 20 primary fund investments. He has recently been named one of the "25 Rising Stars of 2024" by Private Equity News.
Cameron joins the current members of the Global Investment Committee of Private Equity: Brooks Harrington (CIO), Elias Korosis (global investment partner), Sean Yoo (investment head in Asia) and Christian Mankiewicz (portfolio management head).
Peter Gale, who has held the position of CIO and head of Private Equity for over 15 years, has retired from his executive responsibilities, but continues to actively participate in the business, taking on a non-executive role as chairman of Federated Hermes Private Equity. Peter founded Hermes GPE LLP in 2009 and has turned the company into a world-class investment engine, with over $12 billion invested to date. He has also played a key role in the development of the venture capital industry in general, including advising the UK Government on long-term thinking in pension fund management, particularly with regard to the role of venture capital, which has culminated in the creation of the Myners Report.
Today's announcement is the culmination of careful succession planning, which has allowed us to draw from our extensive talent pool to name Brooks as the next CIO of our Private Equity business. Brooks has a deep understanding of private capital markets and a broad network of relationships with major investors, and has played a pivotal role in the development of Federated Hermes' private equity investment strategy. Given his track record, skills and experience, he is extraordinarily well positioned to drive continued investment performance, as we seek to deliver consistent and compelling returns for our clients. We want to thank Peter for his long and distinguished career at the helm of the company, and we are delighted that our team and our clients will continue to benefit from his unparalleled experience in his new role as non-executive chairman.
Steve McGoohan, CEO of Federated Hermes Private Markets
For over 30 years, the firm's flexible approach, market reach and close sector connections with emerging managers have allowed us to become pioneers in co-investments and enable us to continue creating value and generating attractive returns for our clients. I am excited about the opportunity to leverage that legacy as we continue to expand our investment engine across regions and strategies, while maintaining discipline in our current lower-middle market focus.
Brooks Harrington, CIO of Federated Hermes Private Equity
