NY Life Capital Partners hires Blackstone exec

New York Life Capital Partners, the private equity arm of New York Life Investments, has hired former Blackstone Group executive Robert Barrack as managing director and chief operating officer of the firm.

The role is a new one at the firm. Barrack will manage New York Life Capital Partners’ business administration, accounting and investor relations efforts, and will report directly to chief executive Thomas Haubenstricker.

Barrack spent twelve years at Blackstone, where he was most recently a managing director in the firm’s investor relations and business development group. He was also at one point chief financial officer of Blackstone’s private equity group.

Barrack was president and chief executive officer of Devtec Corporation, a subsidiary of a publicly traded French manufacturer. He was also chief administrative officer at Charterhouse Inc., vice president and assistant to the CEO at Paribas North America and vice president and CFO at the Woodcliff Group. He began his career at Arthur Andersen & Co.

New York Life Capital Partners has over $6.8 billion of assets under management.