Chicago-based Waud Capital Partners has appointed David Bellaire as operating partner, effective immediately.
He will serve on the board of several Waud Capital healthcare services platforms and will be responsible for sniffing out new investment opportunities.
Bellaire joins the firm after 10 years with Bain & Company, where he most recently served as a senior advisor, overseeing insurance, provider and healthcare services. Prior to this, he led the health technologies consulting business at Booz Allen Hamilton.
Earlier in the year the firm partnered with former IBM executive George Ahn to establish a platform to invest in application software. The platform, in which the firm invested $100 million, will target growing companies, with the aim of extending their product suites and making strategic add-on acquisitions.
Waud Capital Partners is a lower mid-market private equity firm targeting service businesses in the healthcare and business technology sectors. It has around €2.1 billion in assets under management.