Harbert Management Corporation has added David Crosland as Managing Partner of Harbert Private Equity Fund III, LP (“HPEF III”). Mr. Crosland was previously a founding partner of Atlanta Equity Investors, a middle market growth equity and buyout fund. Steve McGrath, also formerly with Atlanta Equity Investors, is joining Mr. Crosland as a Principal.
By adding Mr. Crosland and Mr. McGrath to its team, Harbert is looking for enhanced visibility in the Atlanta market. “David knows this market and its submarkets extraordinarily well and has what it takes to increase our visibility and help us succeed in the region,” said Mike Luce, President and Chief Operating Officer of Harbert Management Corporation (HMC).
Mr. Crosland and McGrath will be an addition to HMC’s Atlanta office, which includes Melissa Babb, Senior Managing Director of HMC and Graham Dugoni, Marketing Associate.
Mr. Crosland has 28 years of private equity and banking experience. Prior to joining HMC, he spent six years with Atlanta Equity Investors. Prior to Atlanta Equity, Mr. Crosland was a founding partner of Arcapita, an Atlanta based private equity firm. He began his private equity career with Investcorp International. Prior to Investcorp, Mr. Crosland worked at Morgan Stanley & Co. in the firm’s mergers and acquisitions department and at Manufacturers Hanover Trust Company in its energy division. He has a Bachelor of Arts degree from Duke University and an MBA from Harvard Business School.
Mr. McGrath’s career spans private equity, mezzanine lending, transaction advisory, management consulting and operating experience. Before joining Harbert, he was a Principal with Atlanta Equity Investors, where he worked with Mr. Crosland for five years. Prior to Atlanta Equity, he worked at Liberty Lane Partners, a private investment group. Prior to Liberty Lane, he gained investment banking and mezzanine experience at Royal Bank of Canada and Chatham Capital. Mr. McGrath has a Bachelor of Arts in Economics and a minor in History from Miami University (Ohio) and an MBA from Emory University.
Harbert Management Corporation is an alternative asset management firm with approximately $3 billion in assets under management. Investment strategies include European and US real estate, venture capital, mezzanine debt, independent power, US and Australian private equity, and public securities. The firm was founded in 1993 and is based in Birmingham, AL (www.harbert.net).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-10-13