CIT Group's equity investments and venture capital unit, based in Livingston, N.J., has named Colby Collier and Bruce Schackman as its first managing directors.
Mr. Collier, who joined the equity investments unit in 1990, has been responsible for expanding leveraged buyout and merchant banking activities. He joined CIT/Business Credit in 1985 and was responsible there for sourcing and structuring buyouts and recapitalizations.
Mr. Schackman continues his duties in health care venture capital investments. He joined the equity investments unit in 1994 from Furman Selz Inc., New York, where he was a senior research analyst covering biotechnology and drug delivery companies.
In addition, Chris Weiler was promoted to vice president in the equity investments group, responsible for sourcing and structuring LBOs and venture capital investments. He joined CIT Group's capital equipment financing unit in 1990 as an analyst and was transferred to the venture capital unit the next year.