Gates Group appoints former Parsons CEO

James McNulty has been hired as an executive advisor to help the Cleveland-based private equity real estate firm identify opportunities in North American parking, transportation and infrastructure businesses. Gates manages three car parking-focused funds.

Gates Group Capital Partners, a Cleveland-based private equity firm that invests in North American parking and infrastructure assets, has appointed James McNulty, the former chief executive officer of engineering and construction company Parsons Corporation, as executive advisor.

McNulty will help Gates identify and evaluate investment opportunities, the firm said, after retiring as chief executive and chairman at Parsons last year.

Gates and Parsons formed a strategic partnership in 2006 to work jointly on investments in transportation and infrastructure. That same year, McNulty began serving on the firm’s advisory board. Charles Harrington, the current chairman and chief executive officer of Parsons, will fill McNulty’s vacancy on the board. 

Gates is headed by Walter Stuelpe, E.M. De Windt and Graham White. It was founded in 2002 to focus on acquiring real estate and companies in the North American parking and transportation industries.

Gates manages a family of three funds, of which two – Parking Management Fund II and the Babcock & Brown Parking Management Fund – are part of a joint venture with Australian infrastructure specialist Babcock & Brown.

Gates Group’s total capital under management is in excess of $250 million.