San Francisco- and New York-based private equity firm Paine & Partners has hired Bjarni Ármannsson and Frank Reite as operating directors focusing on opportunities in the Nordic region, with an emphasis on the seafood, energy and financial services industries.

“Our relationship with Frank began 10 years ago when he was an executive in the seafood industry at Aker, and continued through his tenure at Glitnir Bank,” said Dexter Paine, founding partner of Paine & Partners. “Bjarni was named CEO of Glitnir, one of Iceland's largest banks, at the age of 31 and served in that role for over seven years. Frank's and Bjarni's experience and vast knowledge base will help us expand our investments in a new and exciting direction and capture additional opportunities in Europe and the Nordics that represents new markets with growth opportunities for Paine & Partners.”

Paine & Partners is currently investing its $1.2 billion Capital Fund III, raised last year.