Private equity firm New York Life Capital Partners has tapped Steven M. Benevento for the newly created post of chief investment officer.
Benevento, currently a senior managing principal at the New York Life Investments affiliate, will continue his involvement in the firm’s investment activities while assuming the CIO responsibilities. Benevento will report to Thomas Haubenstricker, NYLCAP CEO.
Benevento joined New York Life in 1995. Prior to NYLCAP, he managed a portfolio of private equity, mezzanine and non-investment grade debt investments within New York Life's Private Finance Group. Previously, he worked in the investment group of TIAA-CREF where he focused on debt and mezzanine investments in the private market.
“For more than 20 years, NYLCAP has been committed to a “Core Partner” strategy that creates a focused portfolio of key relationships with top-performing private equity sponsors,” said Haubenstricker in a statement. “As the firm continues to grow, it is critical that we have someone with Steve’s expertise dedicated to the role of maintaining the integrity of our investment process. With Steve's successful track record of investment, and over 25 years of investment experience across a broad range of asset classes, we are confident that he will continue making key contributions to the overall growth of the firm in the position of Chief Investment Officer."
New York Life Capital Partners manages approximately $8.8 billion of private equity assets, including co-investment, mezzanine, and fund advisory programs.