Los Angeles-based middle-market private equity firm Brentwood Associates has promoted four members of its 13 person team: Steve Moore, Eric Reiter, Rahul Aggarwal and Toros Yeremyan.
Moore and Reiter have each been promoted to partner from principal. Moore joined Brentwood in 2000 and previously worked at investment bank Donaldson, Lufkin & Jenrette (DLJ) focusing on mergers and acquisitions, leveraged buyouts, and general corporate finance.
Reiter has been with Brentwood since 1999 prior to which he worked in the merchant banking division of DLJ, primarily on investing the $3 billion (€1.9 billion) DLJMB II private equity fund.
Aggarwal, who joined Brentwood in 1999 from DLJ, has been promoted to managing director from principal. He is responsible for Brentwood’s current investments in restaurant chains Pacific Island Restaurants, the sole franchisee of Pizza Hut, Taco Bell and Long John Silver’s restaurants in Hawaii and Guam, and US sandwich chain Zoës Kitchen. He also oversees Spectrum Clubs, the US’s 10th largest athletic club operator with 20 centers in Texas and southern California, and the spa company Exhale Enterprises.
Yeremyan worked in mergers and acquisitions and corporate finance at Credit Suisse First Boston prior to joining Brentwood in 2004. He has been promoted to vice president from senior associate.
Brentwood recently closed its fourth fund on $540 million bringing the firm’s assets under management to more than $1 billion. The firm is currently raising its fifth fund targeting $500 million, according to the Probitas Partners 2008 Private Equity Deskbook.
The consumer-focused firm has made five investments over the past 18 months including equestrian apparel company Ariat International; novelty item direct marketer Oriental Trading Company; paper products company Paper Source; education course company The Teaching Company; and restaurant chain Zoës Kitchen.