Federated Hermes, a global leader in active, responsible investment management, has announced a trio of changes to the leadership of its Federated Hermes Private Equity business.
With $6.1bn asset under management[1], Federated Hermes Private Equity is an active and long-time investor in global private equity. For over 30 years, the firm has focused on co-investment, primary fund investment, secondaries and other specialist strategies, backing buyouts and growth businesses. Since 2011, the business has had a global presence with offices in New York, London and Singapore, with an experienced team of 37 private equity professionals.
Brooks Harrington, previously Deputy CIO and Head of US Investment has been promoted to CIO, Private Equity. In his new role, Brooks Harrington is responsible for the investment team and ensuring the continued delivery of investment performance for Federated Hermes Private Equity clients. Brooks brings extensive experience leading high return investments, having been with the firm since 2015, when he joined from GE Capital.
In addition, Cameron Payne who serves as Co-Head of EMEA Investment, has been appointed to the Private Equity Global Investment Committee. Since joining Federated Hermes in 2015, Cameron has played an integral role in the evolution of the business’ active co-investment model, participating in high profile transactions, completing over 40 deals, and 20 primary fund investments. He was recently named at one of Private Equity News’ 25 Rising Stars of 2024.
Cameron joins the existing Private Equity Global Investment Committee members: Brooks Harrington (CIO), Elias Korosis (Global Investment Partner), Sean Yoo (Head of Asia Investment) and Christian Mankiewicz (Head of Portfolio Management).
Peter Gale, who has held the role of CIO and Head of Private Equity for over 15 years, has retired from his executive responsibilities but remains actively involved in the business, transitioning to a non-executive role as Chairman of Federated Hermes Private Equity. Peter founded Hermes GPE LLP in 2009 and has built the firm to be a world-class investment engine with over $12bn invested to date[1]. He has also played a critical role in the development of the wider private equity industry including advising the UK government on long-term thinking in pension fund management, particularly with respect to the role of private equity, which culminated in the creation of the Myners Report.
Steve McGoohan, Managing Director, Federated Hermes Private Markets
“Today’s announcement is the culmination of careful succession planning, which has enabled us to draw on our deep bench of talent to appoint Brooks as the next CIO of our Private Equity business. He has a deep understanding of private capital markets, and with an extensive network of GP relationships, and has been instrumental in developing Federated Hermes’ Private Equity investment strategy. Given his track record, skillset and experience, he is exceptionally well-placed to drive continued investment performance as we seek to deliver consistent and compelling returns for our clients. We would like to thank Peter for his long and outstanding leadership of the business, and we are delighted that our team and clients will continue to benefit from his unparalleled experience in his new non-executive role as Chairman.”
Brooks Harrington, CIO, Federated Hermes Private Equity
“For over 30 years, the firm’s flexible approach, market reach and close industry connections with emerging managers have enabled us to become early pioneers in co-investments and allow us to continue to create value and generate attractive returns for our clients. I am excited by the opportunity to build on that heritage as we continue to expand our investment engine across regions and strategies, while remaining disciplined in our current lower mid-market focus.”
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1 As at 31 March 2024
