PineBridge Investments loses head of secondaries

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harvey lambert_sqNew York-based asset manager PineBridge is reported to have lost two members of its private equity secondaries group, including team leader Harvey Lambert.

Lambert, pictured, is understood to have left the firm in December, while secondaries managing director Kennon Koay also left around the same time, according to reports.

The departures come at a crucial time for the team, which is said to be raising its third private equity secondaries vehicle with a target of $1.3bn.

It is not clear why either of the executives left the firm, the reports said.

The team is now led by Steven Costabile, head of the firm’s global private funds unit.

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