Star Avenue Capital, a consumer growth equity vehicle formed by private equity firm Irving Place Capital (IPC) and strategic investor Creative Artists Agency (CAA), has hired Craig Elson as a managing director.
Elson was previously a partner at Banc of America Capital Investors, the predecessor to Ridgemont Equity Partners, and before that at cable operator Turner Broadcasting System.
Elson said: "Partnering with CAA and IPC gives Star an incredible range of branding, marketing, and business development resources.
"This role is a unique opportunity to apply my private equity experience to Star’s differentiated model and to help high-growth branded consumer companies reach their full potential."
In May, Star hired Paul Lattanzio as its president.
Lattanzio was previously head of Bear Growth Capital Partners (BGCP), a private equity arm of failed US investment bank Bear Stearns’ Merchant Banking division, the predecessor of Irving Place Capital.
Joining Lattanzio at Star Avenue was Drew Baird, also formerly of BGCP, who will serve as vice president, which made its first transaction in clothing company J Brand Jeans.