People briefs, May 21, 2007

Turner departs WestLB

David Turner

resigned earlier this month as CEO and CIO of the private equity group at WestLB Mellon Asset Management, which manages about $1 billion in private equity assets. The move reportedly came as a surprise to some of Turner’s colleagues and to outsiders as the group is in the midst of raising its fourth fund of funds.

Turner joined the private equity group in 2002, when it was still known as WestAM. He previously had overseen a $13 billion alternative investment portfolio for the State of Michigan.

One source said that Turner indicated he had a desire to cut back his hours, and that he chose to leave now, rather than after the fund was raised. Turner’s next move is unclear. A WestLB spokesperson declined comment, although a receptionist at the firm said on the phone that Turner had “joined another firm.”

Turner did not return calls for comment.

A different WestLB spokesperson said that Turner will be succeeded by Ravi Vish, a general partner with the private equity group since 2005. Prior to joining WestLB, Vish spent 18 years with the International Finance Corp.

KKR names co-CEO of Japan

Shusaku Minoda has joined Kohlberg Kravis Roberts & Co. as managing director and co-CEO of the firm’s Japan operations, effective July 1. He previously was with Mizhou Corporate Bank as managing executive officer in charge of global investment banking. Joseph Bae, a member of KKR who leads the firm’s business in Asia, said in a press release that Minoda’s experience at a leading Japanese financial institution complements the operational background of CEO Taketo Yamakawa. “We now have an extremely strong management line-up in place in Japan to further grow our operations in the market,” Bae said.

Hutton promoted to GP

Canaan Partners

has promoted Wende Hutton from venture partner to general partner. She joined Canaan in March 2004 and currently sits on the boards of such life sciences companies as Alsius Corp., Apieron Inc., BiPar Sciences Inc., Northstar Neuroscience Inc. (Nasdaq: NSTR), Oculir Inc., ReVision Optics Inc. and Spaltudaq Corp.

Venrock promotes partner


has promoted Matt Trevithick to partner. He is based in the VC firm’s Menlo Park, Calif.-based office, and focuses on opportunities in the energy sector. The firm recently closed on $600 million for Venrock V.

Wedbush boosts team

Dan Simon

and Karan Kapoor have joined Wedbush Capital Partners as VP of finance/administration and senior analyst, respectively. Simon previously was CFO of DynaFund Ventures, while Kapoor was with Brandes Investment Management. The buyout firm also has promoted Ben Wu to associate.

Brightspark promotes partners

Brightspark Ventures

has promoted Salim Teja and Steven Bloom to partner and CFO.Teja joined the firm in 2003, while Bloom joined in 1999.

Eureka adds associate

Jonathan Chou

has joined Eureka Growth Capital as a senior associate. He previously was with LEK Consulting as an engagement manager in the firm’s M&A and strategic consulting practices. —PE Week staff