LPs

DuPont Capital loses another private markets executive

-
Photo of Howard Searing sourced from DuPont Capital's website
  • Howard Searing, who had been with DuPont for 16 years, is the third exec to leave the firm’s private markets team in recent months
  • The firm has $2 bln in PE assets under management, down from $3.6 bln in 2015
  • DuPont’s private markets team focuses on small, mid-market LBOs, special situations, VC

A private markets director has left DuPont Capital Management, the third executive to leave the firm’s private markets group in recent months.

Howard Searing, a director in DuPont’s private markets group, left the firm to begin a job at Credit Suisse in December, according to his LinkedIn profile. He had been with DuPont for 16 years.

Searing’s departure follows the exits of Kevin Campbell and Eric Wilcomes earlier in the year. Campbell was managing director of the private-markets team for the company’s private pension fund, while Wilcomes was a portfolio manager.

A DuPont spokesman declined to comment in detail on the departures, but said that Searing’s responsibilities were assumed by others on the business development team. He said DuPont intends to hire new staff.

“Private Markets continues to be an important and growing part of DuPont Capital’s business and the firm will be adding staff to support that growth,” spokesman William Blase said.

DuPont Capital offers investment management services primarily to institutional investors, and it has strategies in public equity, fixed income, private equity and private credit, according to its website. In private equity, DuPont focuses on small and middle-market leveraged-buyout and special-situations funds under $1.25 billion and venture-capital funds under $550 million, the presentation said.

It has $1.9 billion in private equity assets under management, down from $3.6 billion in 2015.

Searing was one of four key personnel listed on DuPont’s private equity fact sheet for the second quarter of 2018, along with director Daryl Brown, portfolio manager Chris Pettia and Antonis Mistras, the firm’s managing director of alternative investments. Mistras, who joined DuPont in 1992, is responsible for PE, private credit, private real estate and hedge funds.

Action Item: Read more about DuPont Capital here: https://bit.ly/2KFDeJ8