Harvest Partners SCF (HP-SCF), the non-control private equity unit of Harvest Partners, has promoted Steve Duke and Sean Murphy to Managing Director. HP-SCF targets private equity-like returns while assuming risks more characteristic of debt investments.
At HP SCF, Mr. Duke is responsible for sourcing and completing investments across the Business Services and Healthcare sectors. Since joining the firm in 2014, he has been active in closing four HP SCF investments. Prior to joining HP SCF, Mr. Duke was a Principal at CCMP Capital. He has an undergraduate degree in economics from Yale and an MBA from Harvard.
“Steve was instrumental in the initial launch of HP SCF and has since then played an integral role in our business. His promotion reflects years of hard work and dedication to the firm,” said Jay Hegenbart, Senior Managing Director and Portfolio Manager of HP SCF.
Mr. Murphy is responsible for sourcing and executing investments in the consumer and retail sectors. He joined the firm in 2016 from Angelo, Gordon & Co. where he was a Managing Director in firm’s private equity practice. Mr. Murphy has an undergraduate degree in political science from Yale University.
“Sean has made significant contributions to our investment program, including having completed a $250 million investment in OTG Management, the largest transaction HP SCF has led to date,” said Mr. Hegenbart. OTG Management, a New York-based operator of airport food and beverage concessions, was acquired in September 2016. “Sean has played a key part in the success of HP SCF, and I have great confidence in the depth and scope of his abilities as a senior member of our growing team.”
Harvest Partners SCF targets investments of $20 million to $75 million in companies where the business owners need equity capital but do not wish to dilute or sell their ownership. Target companies have revenues of $100 million to $750 million and operate in the business and consumer services; healthcare services; industrial and energy services; manufacturing; and distribution sectors. HP SCF is actively seeking new investment opportunities. HP SCF, founded in 2014, is headquartered in New York (www.hp-scf.com).
© 2017 Private Equity Professional | January 11, 2017
