Elizabeth Wu

Gammage replaces former head Karen Simon, who took up the newly created position of head of director advisory services in April.

The oversubscribed fund, raised by alumni from Brazos Private Equity Partners, reflects the importance of a track record and team experience when raising a debut private equity fund.

The firm has received a new commitment from the New Mexico State Investment Council.

Private equity industry service providers said that post-‘Leave’ vote, the economic future of Great Britain looks promising for buying assets but challenging for selling them.

Despite lacklustre economic growth, Blackstone’s chairman and chief executive Stephen Schwarzman is confident that the alternative asset giant’s private equity investments can continue to deliver robust returns.

The Washington, DC-based buyout firm, which focuses on mid-market contractors to the US government, is looking to grow in size: it is targeting $350m for its second fund, up from the $250m target for its debut fund.

The buyout firm, which invests in food and beverage companies, has also closed on its first debt vehicle, which will provide a source of subordinated debt for its fourth fund.

The fast-growing venture capital firm co-founded by Joshua Kushner – whose brother Jared is Donald J. Trump’s son-in-law – raised almost double the $400m it secured in 2014, and will now be managing almost $1.5 billion in assets.

The private equity firm that specialises in distressed turnarounds has raised its first fund to invest specifically in European buyouts.

Gary Bialik takes up his post at a time of transition for the New York-based firm, which is considering new investment opportunities after suspending fundraising for its sixth fund last summer.