MONEY MANAGEMENT

Paine & Partners appoints managing director of portfolio performance

Adam Fless was named managing director, portfolio performance, at private equity firm Paine & Partners, confirmed Andy Brimmer, spokesman.

In the new position, Mr. Fless will work to improve portfolio company operations and create value.

He had been a director at KKR Capstone until earlier this month. Mr. Fless worked with Todd Cooper, a managing director who leads procurement, said spokeswoman Kristi Huller in an email. KKR Capstone is currently looking to expand its procurement team and a search is underway, she said.