Z Capital IR chief Peter Coroneos leaves amid fundraising

Peter Coroneos, who joined Z Capital Group last year to run corporate development and investor relations, has left the firm, sources said.

Coroneos is not listed on Z Capital’s website. His LinkedIn profile shows he left Z Capital in January. Prior to joining Z Capital in March 2017, he worked at Jefferies from 2011 to 2017, his profile said.

Why Coroneos left is unclear. He didn’t respond to a LinkedIn connection request. Julie Oakes, a spokeswoman for Z Capital, declined comment.

Z Capital since last year has been in market with its third fund, targeting $1 billion. As of July, the firm had collected about $286.5 million for the fund, a Form D fundraising document shows. It’s not clear how much Fund III has raised to date.

The firm also raised a series of special-situations funds — most recently closing Special Situations Fund II on $750 million in 2014.

Z Capital was out with its third special-situations fund last year, documents from New Mexico Educational Retirement Board said. The board approved a $50 million commitment to the fund in April 2017, the documents said. It’s not clear how much Special Situations Fund III has raised so far, nor how much the fund was targeting.

President and Chief Executive James Zenni formed Z Capital in 2006 after he left Black Diamond Capital Management, which he co-founded in 1995.

Z Capital invests in private equity and private credit. As of March 29, 2018, Z Capital managed about $2.5 billion on a discretionary basis, according to the firm’s Form ADV.

Last year, Z Capital acquired Sports Information Group, which provides content for horse-racing fans. Also last year, the firm completed its acquisition of Affinity Gaming, a casino gaming operator. The February 2017 deal valued Affinity at about $580 million.

Action Item: Check out Z Capital’s Form ADV here: https://bit.ly/2HKW3Kj

Photo of James Zenni sourced from Z Capital