Emerald Lake Capital Management Announces Promotions and New Hire

Promotes Stephen Burhenn and Joe DeJean to Partner and Sourabh Bhat and Derrick Lee to Principal

SANTA MONICA, Calif., March 2, 2026 /PRNewswire/ -- Emerald Lake Capital Management ("Emerald Lake" or the "Firm"), a growth-oriented middle market private equity firm, today announced the promotion of four investment professionals and the addition of one new Associate, reflecting the Firm's continued growth and commitment to developing talent from within. Stephen Burhenn and Joe DeJean have been promoted to Partner, and Sourabh Bhat and Derrick Lee have been promoted to Principal. In addition, Simrit Hundal has joined the Firm as an Associate.

"The well-deserved promotions of Stephen, Joe, Sourabh, and Derrick reflect our conviction that a durable investment platform – built on valued and constructive partnerships – starts with a foundation of exceptional talent," said Dan Lukas, Managing Partner of Emerald Lake Capital Management. "Each of these individuals has played an important role in the continued growth of our firm and portfolio businesses. Importantly, their work also embodies the thoughtful approach and high standards that define Emerald Lake. We are pleased to recognize their accomplishments and to welcome Simrit to the investment team, as we continue to deliver value across the portfolio."

Founded in 2018, Emerald Lake is led by an experienced team of professionals, many of whom have worked together previously. This continuity – coupled with a differentiated sourcing model and a collaboration-oriented value creation framework – has led to the successful completion of ten platform investments, four realizations, and a strong track record of value creation.

Stephen Burhenn, Partner
Stephen joined Emerald Lake in 2024 and serves on the Board of Directors of Compass Rail. He previously served on the Board of Directors of US Salt. Prior to joining Emerald Lake, Stephen spent over a decade within the Private Equity Group at Ares Management, where he was responsible for thesis development, sourcing, managing, and executing investments across multiple sectors and transaction types, playing a senior role in a number of leveraged buyout and distressed transactions in the healthcare, business services, and consumer-retail sectors. Before this, Stephen worked in the Investment Banking Division at Citigroup, where he supported healthcare, metals, and mining clients. He earned an A.B. degree in Economics from Stanford University.

Joe DeJean, Partner
Joe joined Emerald Lake in 2019 and serves on the Boards of Directors of CORE Transformers, Five Star Energy Services, Mission Critical Group, and Pacific Defense. Before joining Emerald Lake, Joe was a Vice President at Audax Group, where he was involved in numerous investments across the industrials, aerospace and defense, transportation and logistics, and other sectors. Prior to Audax, he was a member of the investment team at Water Street Healthcare Partners and began his career in the Investment Banking Division at Goldman Sachs. Joe holds a B.S. degree from Indiana University in Business with Honors and an MBA from the Kellogg School of Management at Northwestern University.

Sourabh Bhat, Principal
Sourabh Bhat joined Emerald Lake in 2021 and serves on the Board of Directors of City Ventures. He has been involved with several investments including Compass Rail, Five Star, InnoPak, MBO Partners, Mission Critical Group, Pacific Defense, and US Salt. Prior to joining Emerald Lake, he was a member of the investment team at Metalmark Capital, where he was involved in numerous investments across the industrials, natural resources, and healthcare sectors. Before joining Metalmark, Sourabh worked at UBS in the Investment Banking Division, within the Financial Sponsors & Leveraged Finance group. He holds a B.S.B.A. in Finance from Georgetown University.

Derrick Lee, Principal
Derrick joined Emerald Lake in 2024 and has been involved in several investments, including CORE Transformers, Mission Critical Group, and MBO Partners. Prior to joining Emerald Lake, he was a member of the North American investment team at Cinven, where he was involved in numerous investments across the technology and services sectors. Derrick began his career at Bregal Investments, where he helped execute investments into consumer, retail, and services businesses. He holds a B.S. degree in Journalism and Economics from Northwestern University.

Simrit Hundal, Associate
Simrit has joined Emerald Lake as an Associate. Prior to joining the Firm, Simrit worked at RBC Capital Markets within the Investment Banking Division, where she was a member of the Mergers & Acquisitions group. During her tenure, she covered a range of sectors including financial services, power, and utilities, and natural resources. Simrit holds a BCom degree with Honors from the University of British Columbia.

About Emerald Lake Capital Management
Emerald Lake is a middle market private equity firm investing in capital-efficient businesses with sustainable competitive advantages and strong growth prospects in the industrials and services sectors. Emerald Lake seeks to accelerate company growth and unlock potential through supportive, trusting partnerships with management teams and a proven-value creation strategy. Founded in 2018, the firm manages more than $2bn of equity capital and has made ten platform investments to date. For more information, please visit www.elcm.com.

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SOURCE Emerald Lake Capital Management