New York Life Capital Partners, a private equity affiliate of New York Life Investments has promoted its senior managing principal, Steven Benevento, to chief investment officer.
Reporting to NYLCAP chief executive officer Thomas Haubenstricker, Benevento will spearhead the company’s investment process, apart from managing all other investment activities as a part of his prior responsibility.
Thomas Haubenstricker said, "As the firm continues to grow, it is critical that we have someone with Steve’s expertise dedicated to the role of maintaining the integrity of our investment process."
"With Steve’s successful track record of investment, and over 25 years of investment experience across a broad range of asset classes, we are confident that he will continue making key contributions to the overall growth of the firm in the position of Chief Investment Officer."
In 1995, Benevento joined New York Life and prior to this he managed a portfolio of private equity, mezzanine and non-investment grade debt investments within New York Life’s Private Finance Group.
Benevento also worked in the investment group of TIAA-CREF, where he focused on debt and mezzanine investments in the private market.
As an affiliate of New York Life Investments, New York Life Capital Partners manages nearly $8.8bn of private equity assets, including co-investment, mezzanine, and fund advisory programs.