Morgan Creek Hires Principal

Jun 23 2006 | 8:15pm ET

Brad Briner has joined Morgan Creek Capital Management as a principal after working as an independent consultant since the firm opened in July 2004. Mike Hennessy, managing partner, said Briner worked with the firm's founders at the University of North Carolina. The firm was formed by Mark Yusko, former cio of the university.

The plan is currently closing its first diversified fund-of-funds, which includes private equity, real estate, venture capital and natural resources. MC Partners I will close with approximately $155 million, Hennessy said. The plan is also preparing to launch its second fund, which will include the same types of investments. The second fund will likely have no more than $200 million in assets under management.

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