SK Capital Partners has promoted Stephen d’Incelli to managing director and has hired Lee Karras as a director.
SK Capital specializes in the specialty materials, chemicals and pharmaceuticals sectors and typically invests equity of $100 million to $200 million in each portfolio company. In February 2019 the firm held a final closing of SK Capital Partners Fund V LP with total committed capital of $2.1 billion. The firm’s earlier fund was raised in 2014 with $1.0 billion of capital.
Previously a principal at SK Capital, Mr. d’Incelli has been active sourcing and executing acquisitions as well as portfolio company management. Prior to joining SK Capital in 2015, Mr. d’Incelli was a vice president at Sun Capital Partners where he was involved in a variety of acquisitions including corporate carve-outs, entrepreneurial transitions and add-on acquisitions. Before joining Sun Capital, he worked in the leveraged finance group at Lehman Brothers.
Mr. Karras is responsible for providing guidance to the firm’s portfolio companies in the pharmaceuticals sector as well as helping find and evaluate new investment opportunities. Mr. Karras has spent the past seven years running SK Capital portfolio companies, most recently as CEO of Halo Pharmaceuticals (sold by SK Capital to Cambrex (NYSE: CBM) in September 2018) and previously as president of IBA Molecular North America (sold by SK Capital to Capvest in March 2016). Prior to IBA Molecular, Mr. Karras was president and CEO of AAIPharma Services Company where he led the company’s transition from bankruptcy to a successful exit in 2009. Earlier in his career, he held various positions at Baxter Healthcare and Cook Medical.
SK Capital is headquartered in New York (www.skcapitalpartners.com).
© 2019 Private Equity Professional | March 29, 2019