Kevin O'Donnell was named executive managing director of the private funds group at Cresset Partners.
It is a new position, a spokesman said in an email. Based in the New York area, Mr. O'Donnell reports to Eric Becker and Avy Stein, co-founders and co-chairmen, the spokesman said.
Mr. O'Donnell will lead Cresset's private equity, private credit and venture capital efforts for "global private investing in external funds, co-investments and related opportunities, in partnership with leading third-party private asset managers," a news release said Monday.
He was previously head of private equity for Saudi Arabia's Public Investment Fund, Riyadh, where he led the sovereign wealth fund's $80 billion global private markets investment program, the release said.
PIF had $620 billion in assets as of January, according to the Sovereign Wealth Fund Institute. Officials at the wealth fund could not be immediately reached for further information.
Cresset Partners has about $27 billion in assets under management.
