New Hires Flood Lake Capital –

Chicago- and London-based Lake Capital is strengthening its infrastructure with the addition of a vice president and an associate in its London office, as well as two associates in the firm’s Chicago office.

J. Duncan Grierson has joined Lake Capital as a vice president after having served as a director with venture firm Galileo Partners for four years. Grierson’s buyout experience stems from his stint at Clifford Chance in London and Frankfurt as a corporate finance lawyer specializing in mergers and acquisitions. He also spent time in the group’s private equity practice where he took part in leveraged buyout transactions.

Anthony Simler joins the firm as an associate from the Royal Bank of Scotland where he served as an associate director in the leveraged finance group.

Lake Capital also pumped up its Chicago team with the addition of two associates, Edward Kovas and Nicole Theall, and an analyst, Jason Peru. Kovas joined the firm after serving as an associate at Gryphon Partners LP. Theall joined Lake Capital from Chase Securities where she moved up the ranks as a credit officer. Theall started out as a credit analyst in the group’s middle-market banking division and was promoted to account officer within the group. In 1997, Theall moved to the bank’s global syndicated finance group and was promoted to associate.

Peru joined Lake Capital from the merchant banking group at Lehman Brothers.

Terence Graunke, chairman and principal of Lake Capital, said in a statement, “We’re excited about the high caliber professionals that have joined our team. Our new colleagues will play important roles as we build our current initiatives and develop new ones in the near future to each of which we expect to commit $100 million to $200 million in equity.”

Lake Capital’s most recent initiative includes the acquisition of Nth Degree Inc., a privately held marketing company, last April. A number of other investors including Frontenac Company, PPM America Capital Partners LLC, Banc One Equity Capital and Svoboda, Collins LLC invested alongside Lake Capital for a total of $150 million. A spokeswoman for Lake Capital said the firm was actively pursuing a couple of transactions, but declined to give further details.