Asset Management Advisors Inc., a Palm Beach, Fla., multifamily wealth manger, has recruited a four-person private-equity team from SunTrust Equity Partners.
The team will focus on private-equity and venture capital fund investing and will have the capacity to commit up to $20 million for each investment, Asset Management Advisors said Monday.
At Sun Trust, the group invested in 38 buyout and venture capital investments and committed $360 million into 42 private equity and venture capital funds.
Ted Mayden, who leads the team, had been the head of the SunTrust Banks Inc. unit since 2001. He and the other team members—Ken Millar, Jeff McNeill, and David Cusimano—are based in Atlanta and Nashville.
Established in 1989, Asset Management Advisors has 11 family offices on the East Coast with $10 billion of assets under management.
