Just months after a private equity giant bought out the brokerage she founded, Jessica Bibliowicz
has signed off with a brand new private equity shop.
Yesterday New York City-based PE startup Bridge Growth Partners revealed
that Bibliowicz joined their team as senior advisor and will work on issues like "investment sourcing and execution, strategic counsel and support to portfolio companies, investor relations and recruiting." Ryan Dezember of the Wall Street Journal reported
on Bibliowicz's move.
"It was my desire to go on the private-equity side to take all those experiences to be able to help more companies," Bibliowicz told the WSJ
. "I can participate not just in the startup of Bridge Growth itself, but also be as helpful as possible in the underlying portfolio companies."
A former fundster who worked at Pru and Smith Barney, Bibliowicz is the daughter of former Citigroup chairman and CEO Sandy Weil. Bibliowicz founded National Financial Partners (NFP
) 15 years ago and took it public. PE giant Madison Dearborn Partners took
NFP private this summer for about $1.3 billion. Bibliowicz stepped down
as NFP's chairman and CEO shortly a month after the sale was announced
. According to the WSJ
, Bibliowicz's stake in NFP was valued at about $17 million in the deal.
As for Bridge, the shop's launch was announced
three months ago by founding principals Sander Levy
(a founding partner of $8-billion PE shop Vester Capital Partners), Alok Singh
(managing director for $9-billion PE shop New Mountain Capital) and Kevin Parker
(former CEO of $1.1-billion software shop Deltek and former CEO of PeopleSoft, which was bought out by Oracle). According to the WSJ
, Bridge is raising about $1 billion.
Neil Anderson, Managing Editor
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