KPS Capital Partners Announces Addition of Senior Professionals

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May 26, 2010, 09:52 ET

NEW YORK, May 26 /PRNewswire/ -- KPS Capital Partners, LP ("KPS") announced today that two senior professionals have joined the firm.

Daniel J. Gray has joined KPS as Managing Director of Business Development. Prior to joining KPS, Mr. Gray was Director of Business Development at The Gores Group, LLC.

Irene K. Hong has joined the firm as Vice President of Investor Relations and Marketing. Ms. Hong joins KPS from Jefferies & Co. where she was a member of the private equity fund placement group. Prior to Jefferies, she was an investment professional at Lexington Partners Inc. and Lehman Brothers in the Private Equity Merchant Banking Group.

About KPS Capital Partners, LP

KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $2.6 billion of committed capital focused on constructive investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS invests its capital concurrently with a turnaround plan predicated on cost reduction, capital investment and capital availability. Typically, the KPS turnaround plan is accompanied by a financial restructuring of the company's liabilities. The KPS investment strategy and portfolio companies are described in detail at the firm's website: www.kpsfund.com.

SOURCE KPS Capital Partners, LP