GI Partners picks Silver Lake’s Smolen as new general counsel, CCO


news_gavel_lrgMid-market private equity firm GI Partners has hired Silver Lake’s David Smolen as general counsel and chief compliance officer.

Smolen has 18 years of experience in the industry, most recently at Silver Lake where he was CCO and senior counsel.

He will provide legal support, advice and guidance to GI on legal and regulatory matters from its Menlo Park headquarters.

GI founder and executive managing director Rick Magnusen said, “We are very pleased to welcome David to GI Partners.

“As we continue to grow, David will play a key role in spearheading our legal and compliance activities.

“His joining will enable GI to maintain our firm’s high compliance standards and guide us through today’s changing regulatory environment.

“We are confident that his significant experience and perspective will provide an immediate and meaningful contribution to our firm.”

AltAssets reported in January that GI Partners had beaten the target for its latest fund, which is expected to close on its hard cap.

GI Partners Fund IV had secured commitments of $1.66bn from 12 LPs, the firm revealed in a document filed with US securities regulators.

The fund, which was launched with a $1.5bn target in 2012, is expected to close on its $2bn hard cap before the end of the first quarter according to Dow Jones, which cited a person with knowledge of the situation.

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