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84-88_ChangingScenes.qxd 4/6/09 5:52 PM Page 73The Changing ScenePrior to his appointment, Ranson functionedas a senior adviser with Blue Wolf. Priorto joining Blue Wolf, he was a portfoliomanager with the New York hedge fund GoldenTreeAsset Management. In his responsibilitiesat GoldenTree, he sourced and completeddebt and equity investments,particularly those involving distressed assetsof private companies. Previously, Ransonwas a vice president at middle market buyoutfirm American Capital.Narulla, meanwhile, has been with BlueWolf since 2006, when he was hired as anassociate. He was promoted to senior associatein 2007. Narulla came to Blue Wolf fromthe private equity firm Sun Capital, and waspreviously an investment banker at SalomonSmith Barney.Brookfield Infrastructure Partners L.P— The asset management company revealedthat co-chief executive officer AaronRegent resigned, paving the way for SamPollock to be appointed sole CEO. The firmdisclosed that Regent will join a global miningcompany as president and chief executiveofficer.In November, Brookfield, which investsmostly in the utilities and timber sectors, announceda unit repurchase program, and alsoappointed Anne Schaumburg to the board ofdirectors. Schaumburg was previously a managingdirector with the global energy groupof Credit Suisse First Boston.Clifford Chance — The London-based lawfirm has hired William Blumenthal, the generalcounsel of the Federal Trade Commission,to join the firm.Blumenthal, while at the FTC, worked toimprove upon China’s long-criticized Anti-Monopoly Law, and pushed for internationalcooperation of competition policy at the commission.In his new position, Blumenthal will be apartner in the M&A practice and also thelitigation and dispute resolution practice.HT Capital —Peter Rozsa has joined the adviser as a senior managing director.Rozsa, who most recently led Deloitte & Touche’s corporate finance practice, hasexperience working in mid-market M&A and spent two years within the firm’sexternal acquisition program for its financial advisory services business unit. Thefirm said he will help its expansion in the mid-market M&A area, internationallyand domestically.Rozsa, who holds an MBA from Iona College and a BA from Dowling College, is amember of the Association for Corporate Growth, American Institute of CertifiedPublic Accountants and the New York State Society of Certified Public Accountants.Rozsa will report to Eric Lomas, HT Capital's president.HT Capital has offices in Chicago and representation in Paris.He will act as chairman of the firm’s US Antitrustgroup.In January 2008, Michel Petite joined CliffordChance from the EU Commission.Deutsche Bank - The investment bank willhave Takushi Abe join its ranks as senior adviserto its investment banking business in Japan.Abe, who joined Deutsche Bank in January,was previously a managing director withGoldman Sachs.FBR Capital Markets — The investmentbank announced its founder Eric Billingshas stepped down, relinquishing his chiefexecutive role. He will stay on as chairmanbut has been replaced as CEO by RichardHendrix, FBR’s president and chief operatingofficer.As chairman, Billings will continue to playa role in client relationship development.Hendrix was named FBR president andCOO in October 2004. He joined the firm in1999 from PNC Capital Markets, whichformed a strategic alliance with FBR in 1997.Prior to that, in Virginia, he oversaw investmentbanking, institutional brokerage, research,advisory, asset management and researchoperations.Institutional Limited Partners Association— The non-profit named Fifth ThirdBank’s Vanessa Indriolo as the membershipchair of its executive committee and alsoelected her to a two-year term on the association’sboard of directors.Indriolo has worked in the industry for nineyears, the last three of which she has servedat Fifth Third as a vice president and directorof private equity fund investing.ILPA is a not-for-profit group designed toprovide a platform for limited partners tocommunicate best practices and promoteresearch and standards in the private equityindustry. ILPA, for instance, played a rolealongside other industry groups to help draftvaluation guidelines in a push to standardizeprivate equity performance metrics.Joncarlo Mark, CalPERS’ senior portfoliomanager, currently heads ILPA as the association’schairman, while OMERS Capital Partners’Martin Day, CPPIB’s John Breen andFlorida State’s Jim Treanor all play activeroles in the executive committee as well.In a statement, Indriolo noted that her rolefor the organization will be to lead its efforts“to increase membership.”Kohlberg Kravis Roberts — The buyoutfirm will have members Michael Michelsonand Alexander Navab co-head the firm’s NorthAmerican private equity business.Michelson heads the New York-basedfirm’s healthcare team, where during hisFebruary 2009 MERGERS & ACQUISITIONS 73
84-88_ChangingScenes.qxd 4/6/09 5:52 PM Page 74The Changing Scene27-year tenure he has also worked with awide range of other businesses includingAutoZone, Beatrice Cos. and Owens-Illinois.The dealmaker sits on the corporate boardsof Accellent, HCA and Jazz Pharmaceuticals,as well as KKR’s private equity investmentcommittee.Navab, meanwhile, has been with KKR for15 years. He runs the firm’s North Americanmedia and communications team and sitson KKR’s private equity investment committee.A former Goldman Sachs investmentbanker, Navab also serves as a board memberat The Nielsen Co. and Visant.Both Michelson and Navab will report toKKR co-founders Henry Kravis and GeorgeRoberts, who have transformed KKR froma leveraged buyout firm following its foundingin 1976 into a global alternative assetbehemoth with offices in Europe, Asia andAustralia.Over the last few months, KKR also appointedFred Goltz to spearhead the firm’smezzanine investment efforts, while MarcLipschultz was named to lead its infrastructureinvestment activities.The personnel shifts represent the latestmoves by KKR to fortify its capital-raising andcapital markets businesses at a time when theprivate equity industry is riding out the creditcrunch. KKR’s new asset management divisionwill be led by TWC Group veteranWilliam Sonneborn.Lazard Ltd. — The investment bankpoached Timothy Pohl from law firm Skadden,Arps, Slate, Meagher & Flom, where he previouslyserved as co-head of its corporaterestructuring practice. Pohl will serve as amanaging director in Lazard’s restructuringgroup, a team that is led by co-chairs BarryRidings and Terry Savage. This isn’t the firsttime Lazard’s restructuring arm has targetedSkadden brain trust. In 2002, the firmbrought on David Kurtz from the firm.Pohl, 42 years old, had spent 10 years atSkadden and before that served for eightyears in the restructuring practice of JonesDay. At Skadden, Pohl led a number of assignments,including out-of-court restructuringsinvolving Rural Cellular Communications,Meridian Technologies and KrispyKreme, in addition to Chapter 11 restructuringsof Vera Sun Energy, McLeodUSA andNational Steel Corp. He has also taken onmandates serving as lead counsel to distressedinvestors.Morgan Keegan — The investment bankexpanded its M&A team with the acquisitionof Revolution Partners, a Boston-based technology-focusedboutique bank.Hilco Real Estate —The real estate company appointed Neil R. Aaronson to lead it as chief executive.Previously, Aaronson was executive vice president of Hilco Trading, the parentcompany of the real estate arm.Aaronson replaces Mitchell Kahn, who is leaving Hilco. He will remain active withsome of its engagements and also in the company’s neartermacquisitions.Gregory S. Apter, who had worked as the company’soperations chief, has also been promoted to president.Hilco Real Estate offers restructuring services for retail,wholesale and private equity portfolio businesses. Currently,it lists among its clients bankrupt retailer Mervyn’s, which isshuttering stores and reorganizing.Neil R. AaronsonAt a time when niche plays are among thefew deals getting done, Regions FinancialCorp.’s subsidiary will add to its ranks a teamfocused on application and infrastructure,business services, wireless infrastructure,storage, communications infrastructure, hardwareand financial technology.Revolution will work as a division of MorganKeegan. Co-founders Peter Falvey andDavid Lavallee will continue to oversee operations.Also joining are seven managingdirectors and 30 investment banking professionalsin Boston, San Francisco and LosAngeles.Morgan Stanley — The investment banktook another blow, and announced that itsglobal head of M&A, Gavin MacDonald,passed away.MacDonald, 47, had suffered a heart attackat his desk in the firm’s Canary Wharf officein London.MacDonald joined Morgan Stanley in 1983after graduating from Cambridge University.He was appointed global head of M&A lastyear and became head of European M&A inJanuary 2006. MacDonald, who also servedas a member of Morgan Stanley’s Europeanmanagement committee, helped establishthe firm’s European M&A business.His recent mandates include the merger ofThomson and Reuters and the Swedish government’ssale of Vin & Sprit to Pernod Ricard.MorrisAnderson — The financial advisoryfirm promoted to managing director DavidBagley, a MorrisAnderson vet who has spentsix years with the firm.Bagley joined MorrisAnderson in 2002.He has held roles as finance chief, chiefexecutive and head of restructurings. Priorto MorrisAnderson, Bagley ran a $30million international division at a hardwaredistributor, started a logistics program withan international freight forwarder and brokeragefirm, and consulted Fortune 500firms.74 MERGERS & ACQUISITIONS February 2009
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