D. Ellen Shuman, A Highly Regarded Investment Management Professional, Joins Advisory Board Of Corsair Capital
NEW YORK, July 23, 2012 /PRNewswire/ -- Corsair Capital ("Corsair"), a leading private equity firm focused exclusively on investing in the global financial services industry, today announced that D. Ellen Shuman, a highly regarded professional in the field of investment management, has joined the firm's Advisory Board. Ms. Shuman's experience in investment management further expands the strengths of Corsair's Advisory Board, which includes valuable expertise in financial services, regulatory and government, and international business and global affairs.
Ms. Shuman has been a leader in the field of endowment management for almost three decades, serving as Vice President and Chief Investment Officer at Carnegie Corporation of New York (1999-2011), and as Director of Investments at Yale University (1984-1998).
Nicholas B. Paumgarten, Chairman of Corsair, stated, "We are delighted that Ellen has agreed to join the Corsair Advisory Board. She is a well-respected leader in investment management, and is known for her global approach to investing. We expect that Corsair will benefit immensely from her insight and advice as we continue to build the value of the firm for the benefit of Corsair's investors and our portfolio businesses."
Ellen Shuman said, "I am pleased to be affiliated with Corsair Capital and to help facilitate the future development of the firm as a member of its Advisory Board. Corsair is an astute investor globally, including in emerging markets where they have demonstrated unique expertise. Particularly in this challenging capital markets environment, Corsair's long term and strategic perspective, specialized knowledge, and practice of partnering with strong management teams, is consistent with my personal investment philosophy.
Ms. Shuman was the first full-time investment professional at Carnegie Corporation, working under President Vartan Gregorian. During her tenure the portfolio grew from $1.6 billion to $2.7 billion, net of spending of approximately $1.0 billion, and without the receipt of new gifts. Net investment performance of 7.9% annualized for the decade ending September 30, 2010 was robust relative to the global equity markets which were essentially flat over the same period. Investments in emerging markets and global private equity contributed substantially to strong investment performance.
ABOUT CORSAIR CAPITAL
Corsair Capital is a leading specialist private equity firm focused exclusively on investing in the global financial services industry. Corsair has invested across a range of geographies and cycles, and in substantially all of the subsectors of the financial services industry including insurance, asset management, depository institutions, and specialty finance in North America, Western Europe, and the Emerging Markets of Asia, Latin America, and Central Europe. More information about the firm may be accessed through the website www.corsair-capital.com.
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SOURCE Corsair Capital
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