Alcion Ventures has appointed the former real estate director of Harvard Management Company, David Ferrero, as partner, the firm said in a statement today.
Ferrero will be responsible for investor relations and business development at the Boston-based private equity real estate firm. He was previously with Harvard Management Company, the organisation responsible for managing Harvard University’s pension and endowment assets, and was formerly a principal at Charlesbank Capital Partners.
Ferrero was one of three appointments announced by Alcion. Eugene DelFavero joined Alcion as partner and chief financial officer with responsibility for all Alcion’s funds and investments. He was previously managing partner of accountanting company, RJ Gold & Company. Meg Donahue, formerly with The Praedium Group, also joined Alcion as associate.
Alcion was formed by ex-AEW Capital principals Martin Zieff and Mark Potter and closed its second value-added and opportunistic real estate fund on $353 million in 2006.
In a statement, Zieff said the firm’s expansion was in response to the potential for distressed investments and a bid to “manage our existing portfolio”.