Former GMAC chief financial officer Robert Hull will be taking over the same role at Providence Equity Partners in early April, succeeding Raymond Mathieu who will become managing director with a focus on special projects.
Hull had previously served as CFO and executive vice president for GMAC since 2007, during which time he helped the lender become a bank holding company and worked with the US government on equity transactions such as the addition of Chrysler as a business partner in 2009. Before that he had served as CFO of Bank of America’s Global Wealth and Investment Management business.
The move comes a few months after Providence, which invests in the debt of media, communications and information companies, hired former Golden Tree Asset management partner Oliver Wriedt as managing director for its capital markets group. More recently, Renato DiPentima, former president and chief executive officer of SRA International, joined the firm as a senior adviser on new investments in the government information services sector.
In January movie theater chain AMC announced it has signed a deal to purchase almost all of Chicago-based Kerasotes ShowPlace Theaters from Providence, which is expected to give the firm a 2X return on its initial $75 million investment in 2003.