Pathway is pleased to announce that in March 2016 it held a final close on $400 million for Pathway Private Equity Fund Investors 8, LP (“PPEF I-8”), its eighth multi-investor core diversified private market fund of funds. Investors included a mix of government and corporate pension plans, insurance companies, and endowments. At $400 million, PPEF I-8 exceeded both its target of $300 million and the $308 million that was raised for its predecessor fund, PPEF I-7, which held its final close in late 2013. PPEF I-8 contributed to Pathway securing more than $3 billion in new capital commitments from investors in 2015.
Pathway Makes 3 Senior Promotions
Pathway is pleased to announce that Vincent Dee, Valerie Ruddick, and Wayne Smith have been promoted to Managing Directors.
Vincent joined Pathway in 2002 and is a managing director in the California office. He is responsible for investment analysis and due diligence, negotiating and reviewing investment vehicle documents, and client servicing. Vincent also heads the firm’s market research team, which tracks the data, trends, and issues impacting the private markets and also publishes Pathway’s quarterly Private Market Environment reports and other periodic research reports and studies. Additionally, Vincent serves on the advisory boards of several private market partnerships. Prior to joining Pathway, Vincent worked in the Pension Consulting Division of Wilshire Associates Inc. He received a BA in economics from the University of California, San Diego, and an MBA from the Haas School of Business at the University of California, Berkeley. Vincent is a CFA charterholder and a member of the CFA Society of Los Angeles, Inc.
Valerie joined Pathway in 1996 and is a managing director in the California office. She is responsible for investment analysis and due diligence, negotiating and reviewing investment vehicle documents, and client servicing. Additionally, Valerie serves on the advisory boards of several private market partnerships. Valerie received a BA in economics, with a minor in business management, from the University of California, Irvine, and an MBA from the Anderson School at the University of California, Los Angeles.
Wayne joined Pathway in 2011 and is a managing director in the Rhode Island office. He is responsible for investment analysis and due diligence, negotiating and reviewing investment vehicle documents, and client servicing. Additionally, Wayne serves on the advisory boards of several private market partnerships. Prior to joining Pathway, Wayne managed the private equity program for the $50 billion Pension Reserves Investment Management Board (PRIM) in Massachusetts, where he had worked since 2000. In this capacity, he performed due diligence, recommended investments, and had oversight responsibility for a portfolio of more than 200 limited partnerships and $15 billion in committed capital. Before joining PRIM, Wayne had worked on private equity investments for Liberty Mutual Group since 1996. He received a BA in management from Assumption College and an MBA from Babson College. Wayne is a CFA charterholder.
Pathway Turns 25
Pathway Capital Management celebrates its 25th year of developing successful private market programs for institutional investors worldwide. On this occasion, we wanted to take a moment to reflect on how grateful we are to our clients and investors, who have entrusted their capital with us to help them achieve their private market fund investing goals. While the private markets have changed substantially over the past 25 years, we have remained true to our core principles: putting our clients and investors first, focusing on what we believe to be high-quality funds worldwide, and building a culture within the firm that promotes a stimulating and rewarding work environment. We look forward to the next 25 years and beyond.
Pathway Makes 2 Senior Promotions and 1 Senior Hire
Pathway is pleased to announce that Jason Jenkins and Matt Lugar have been promoted to Director. These promotions bring the total number of owners of Pathway to 19.
Jason joined Pathway in 2004 and is a director in the California office. Prior to joining Pathway, Mr. Jenkins worked as a transitions associate at State Street IMS. Mr. Jenkins received a BS in finance, summa cum laude, from Northern Arizona University and an MBA, with a concentration in finance, from California Polytechnic University. Mr. Jenkins is a CFA charterholder and a member of the CFA Society of Los Angeles, Inc.
Matt joined Pathway in 2002 and is a director in the Rhode Island office. He previously worked for two years as an analyst with Allied Financial Services, a boutique investment consulting firm. Mr. Lugar received a BA in business administration from Azusa Pacific University and an MBA from the Paul Merage School of Business, at the University of California, Irvine.
Pathway is also pleased to announce that Jerry Branka has joined the Rhode Island office as a Vice President. Mr. Branka will be responsible for client servicing and business development in the United States.
Prior to joining Pathway, Mr. Branka worked at Fidelity Investments in various roles for more than 23 years. Most recently he served in Fidelity’s institutional investment entity, Pyramis Global Advisors. In that role, Mr. Branka covered clients, prospects, and consultants in the institutional marketplace, with a focus on public pension plans in the eastern half of the United States and Texas. He received a BA in political science from Xavier University and holds Financial Industry Regulatory Authority (FINRA) Series 6, 7, and 63 licenses.