Summer Street hires CFO

The Buffalo, New York-based private equity firm named Amy Standing (pic) as chief financial officer. Meanwhile MVC Capital has appointed its own new CFO.

Summer Street Capital Partners has hired Amy Standing as chief financial officer to replace the retiring Ron Fleissner.

Fleissner will continue to work with Standing and Summer Street during a transitional period before full retirement.

Standing joined the firm in June from Discover Financial Services, a publicly traded direct banking and payments company, where she worked in business development and as chief of staff.

Prior to Discover, Standing worked in various finance and tax related management roles within Citigroup, wine, beer and spirits company Constellation Brands and car part manufacturer Valeo Automotive.

Standing will be responsible for Summer Street's financial administration and reporting, but she will also manage investor relations and oversee the firm’s compliance with the Securities and Exchange Commission and other regulatory agencies. 

Amy Standing

Standing declined to comment on her new role.

Summer Street held a final close for its third private equity fund on $280 million, north of its $250 million target. The firm targets primarily small-market buyouts, investing between $15 million and $30 million per transaction. 

In related human capital news, MVC Capital, a publicly traded  company that makes private debt and equity investments, appointed Scott Schuenke as chief financial officer.

Schuenke, who worked as corporate controller and chief compliance cfficer of MVC Capital, takes over from Peter Seidenberg who will transition into a full-time role as a senior investment professional with MVC. Schuenke will assume his new responsibilities from November 1.