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Two longtime placement agents leave UBS

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  • Martin Voelker moves back to K&E
  • Jane Bieneman departs for consulting firm
  • Steve Carre steps in for Voelker

Two longtime placement agents have left UBS Private Funds Group, one of the largest private equity fundraising and secondary advisory specialists in the business, according to a person close to the bank, as well as separate sources.

The person close to the bank confirmed the changes and said they reflected the natural course of business.

“People’s careers evolve in different ways,” the person said. “Some people decide they want a change and other people run out of room to grow and their careers hit a ceiling.”

Martin Voelker, who oversaw a team of about 20 professionals while working as global head of advisory services with the UBS Private Funds Group, now works as a partner at Kirkland & Ellis. He joined the law firm in November after working for UBS for about 15 years.  He had worked previously at Kirkland & Ellis from 1998 to 2000 as a corporate associate. Reached at his office in New York, Voelker declined to comment.

The person said Steve Carre, an executive director at UBS Private Funds Group, has stepped into Voelker’s role at the firm. Carre has been with UBS since 2008 after working at Knight Capital Partners.

Jane Bieneman, an executive director at UBS for more than four years, moved to a job as senior director at Tideline Advisors last September, a spokeswoman for the firm confirmed. Tideline Advisors is a consulting firm specializing in impact investing with offices in New York and San Francisco.

Prior to UBS, Bieneman worked as head of financial advisory services for BlueOrchard Finance and as a director at Citigroup investment banking, according to her LinkedIn page.

Among the funds in the market with UBS as placement agent, OpenGate Capital is raising OpenGate Capital Partners I LP with a target of $300 million, according to fundraising data compiled by Buyouts.

TA Associates also tapped UBS for TA Atlantic & Pacific VII-A LP and VII-B LP, according to public filings.

Editor’s note: This story was revised to protect the identity of a source. 

Action Item: UBS Private Funds Group, http://bit.ly/1nyRCrJ

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