Constellation is an innovative joint venture spanning Europe, North America, and the Middle East.

It combines the expertise and capital base of three of the world’s premier institutional investors—APFC, Railpen and Wafra, on behalf of PIFSS—to catalyze the next generation of promising private equity and alternatives managers. These founding partners of Capital Constellation together manage more than $200 billion in assets, and have made an initial commitment of $700 million to Constellation. Constellation’s mission is to partner with talented investment teams, enabling them to break through the challenges of initial fundraising by providing strategic and operational support and creating an aligned, substantial and long-term capital base.

About

Capital Constellation is advised by Wafra, a leading manager of private equity and alternative investment funds, building on its experience of partnering with pioneering investment entrepreneurs to translate their visionary investment strategies into enduring, successful investment firms.

Capital Constellation strives to be a symbol of alignment between asset owners and alternative managers, and a force for innovation within the alternatives industry. Structured the right way, partnerships with promising managers are an opportunity to make ground-breaking investments in scalable, forward-thinking strategies. Importantly, through our unique structure, we seek to generate consistent, long-term value for the ultimate beneficiaries of Capital Constellation.

Founding Partners

Advisor

Capital Constellation Leadership

Paul Bishop

Investment Director, RPMI Railpen
Board Member, Capital Constellation
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Paul Bishop is an Investment Director of RPMI Railpen. RPMI Railpen invests the assets of the UK railway industry pension schemes. Mr. Bishop is responsible for RPMI Railpen’s private market portfolios covering fund investment, co-investment and direct investment activity. He joined RPMI in 2011 and was previously responsible for leading the investment management team in researching, selecting and monitoring the Scheme’s investments across multiple asset classes. Prior to joining the company, Mr. Bishop was Chief Investment Officer of a UK life assurance and asset management company responsible for the management of portfolios across public and private markets. Mr. Bishop also has experience as a Senior Investment Consultant. He is a CFA Charterholder and a Chartered Alternative Investment Analyst.

Stephen Moseley

Head of Private Equity and Special Opportunities, APFC
Board Member, Capital Constellation
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Steve Moseley heads private equity and special opportunities for the Alaska Permanent Fund (“APFC”), an endowment established in 1980 to provide for all current and future generations of Alaskans. He leads the APFC’s private equity fund investment, co-investment, and direct investment activity. Before joining the APFC, Mr. Moseley restructured, managed, and sold Marston-Ross Corporation, a Connecticut-based family investment office. Before that he was president of StepStone Group, a global manager of diversified private market assets and, prior to that, co-president of the direct investment division of StepStone’s predecessor company, Pacific Corporate Group (“PCG”). During his time at PCG, Mr. Moseley also served as CIO. Earlier in his career, Mr. Moseley served as a vice president in investment banking at Credit Suisse First Boston (“CSFB”) and as a principal in CSFB’s private equity investment affiliate, Windward Capital Partners. Before CSFB, Mr. Moseley was an investment banker with Merrill Lynch in New York, Tokyo and London. Mr. Moseley received his MBA from Yale University and his BA from Wesleyan University.

Russell Valdez

Senior Managing Director, Wafra
Board Member, Capital Constellation
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Russell Valdez is a Senior Managing Director and serves on Wafra’s Management Advisory Committee and Board of Directors. Mr. Valdez oversees all negotiated alternatives transactions spanning strategic partnerships, real assets, private equity and alternative finance and real estate. He leads investments in investment management firms and finance companies across the spectrum of real assets. He serves on the boards of Ara Partners, Oak Hill Advisors, LOGIX Fiber Networks and Suntex Marinas.

Previously, Mr. Valdez was a Corporate Associate at Covington & Burling, practicing in private equity and mergers and acquisitions. His experience also includes positions at Chemonics International and Visa Europe.

Mr. Valdez earned a BA from Stanford University and a JD from Harvard Law School.

Daniel Adamson

Managing Director, Wafra
President, Capital Constellation
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Daniel Adamson is a Managing Director and serves on Wafra’s Management Advisory Committee. Mr. Adamson leads Wafra’s efforts in business and product development, building financial and strategic solutions for sovereign investors and pension funds. He is also the President of Capital Constellation, a joint venture between asset owners in Europe, North America and the Middle East, investing in the next generation of alternatives managers.

Previously, Mr. Adamson held senior positions at Ares Management and Bridgewater Associates. He began his career at McKinsey & Company.

Mr. Adamson earned a BA, summa cum laude, from Yale University, an MPhil in Politics from Oxford University, where he was a Marshall Scholar and a JD from the Yale Law School. He currently serves on the External Advisory Board for Strategic Investment Funds at the World Bank.

Management

Fawaz Al-Mubaraki

Chief Executive Officer & Chief Investment Officer, Wafra
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Fawaz Al-Mubaraki is the Chief Executive Officer and Chief Investment Officer of Wafra.  Mr. Al-Mubaraki serves on Wafra’s Management Advisory Committee and Board of Directors, developing the strategic vision, assessing firm-wide investment activities, and managing key aspects of the firm.

Previously, Mr. Al-Mubaraki served as a Portfolio Manager, specializing in European markets at Wafra. Mr. Al-Mubaraki joined Wafra in 1991. He began his career as an Analyst in the Managed Portfolio Department of the Public Institution for Social Security of Kuwait.

Mr. Al-Mubaraki earned a BS in Economics from Kuwait University.

Russell Valdez

Senior Managing Director, Wafra
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Russell Valdez is a Senior Managing Director and serves on Wafra’s Management Advisory Committee and Board of Directors. Mr. Valdez oversees all negotiated alternatives transactions spanning strategic partnerships, real assets, private equity and alternative finance and real estate. He leads investments in investment management firms and finance companies across the spectrum of real assets. He serves on the boards of Ara Partners, Oak Hill Advisors, LOGIX Fiber Networks and Suntex Marinas.

Previously, Mr. Valdez was a Corporate Associate at Covington & Burling, practicing in private equity and mergers and acquisitions. His experience also includes positions at Chemonics International and Visa Europe.

Mr. Valdez earned a BA from Stanford University and a JD from Harvard Law School.

Vincent Campagna

Chief Operating Officer, Wafra
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Vincent Campagna is the Chief Operating Officer and serves on Wafra’s Management Advisory Committee and Board of Directors, overseeing the corporate operational, compliance, risk and legal groups. Together with the senior management team, Mr. Campagna oversees the general day-to-day operations of the firm, which includes the back and middle office operations, tax structuring, technology and major corporate and technology initiatives and projects. He is also a Director and the Chief Compliance Officer of Wafra Securities Corporation, a U.S. Securities Exchange Commission registered and FINRA member broker-dealer.

Mr. Campagna earned a BS in Finance and Management from Fordham University and an MBA from Fordham University Graduate School of Business. He also holds FINRA Series Licenses 3, 7, 24, 63 and 65.

Fergus Healy

Chief Legal & Administrative Officer, Wafra
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Fergus Healy is the Chief Administrative Officer and serves on Wafra’s Management Advisory Committee and Board of Directors. Mr. Healy is charged with managing legal and tax affairs, day-to-day operations, fund accounting, risk management and the administration, establishment and structuring of investment funds. He joined Wafra in 2014.

Mr. Healy has more than 20 years’ experience in alternative funds. Previously, he was the Chief Executive Officer of Meridian Fund Services Group. Prior to that, he was employed in legal, client facing and business management roles in the alternative fund space at JP Morgan, Citi and Bank of Bermuda. Mr. Healy also ran his own consulting business providing structuring, operational due diligence and corporate services to fund managers, investors and other participants in the fund industry.

Mr. Healy earned a BCL from the University College Dublin and qualified as Solicitor in Ireland.

James T. Gillies

Senior Managing Director, Wafra

Richard Safranek

Senior Managing Director, Wafra
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Richard Safranek is a Senior Managing Director and serves on Wafra’s Management Advisory Committee. Mr. Safranek oversees all consulting services and research, and manages a broad range of special purpose investment vehicles.

Previously, Mr. Safranek also served as a Portfolio Manager at Wafra, covering equity markets in the Asia-Pacific and Emerging Markets regions. He joined Wafra in 1995. Prior to that, Mr. Safranek served as an Investment Analyst at World-Wide Investment Co., a Hong Kong-based family office, where he conducted economic, political and market research on Hong Kong and China. He has over 20 years of investing experience with publicly-traded securities.

Mr. Safranek earned a BA in International Relations from Johns Hopkins University and an MBA from Columbia University. He completed a Chinese language program at Beijing Foreign Language Institute.

Michael Shedosky

Managing Director, Wafra
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Michael Shedosky is a Managing Director at Wafra, focusing on strategic investments in financial services firms and the liquid alternatives business.

Previously, Mr. Shedosky held positions at Pergament Advisors, Merrill Lynch and www.hedgefund.net.

Mr. Shedosky earned a BA from Hamilton College. He holds the CAIA designation.

Daniel Adamson

Managing Director, Wafra
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Daniel Adamson is a Managing Director and serves on Wafra’s Management Advisory Committee. Mr. Adamson leads Wafra’s efforts in business and product development, building financial and strategic solutions for sovereign investors and pension funds. He is also the President of Capital Constellation, a joint venture between asset owners in Europe, North America and the Middle East, investing in the next generation of alternatives managers.

Previously, Mr. Adamson held senior positions at Ares Management and Bridgewater Associates. He began his career at McKinsey & Company.

Mr. Adamson earned a BA, summa cum laude, from Yale University, an MPhil in Politics from Oxford University, where he was a Marshall Scholar and a JD from the Yale Law School. He currently serves on the External Advisory Board for Strategic Investment Funds at the World Bank.

Connor Stewart

Director, Wafra
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Connor Stewart is a Director at Wafra, focusing on strategic investments in financial services firms and executing private investments.

Previously, Mr. Stewart was an Associate at Berkshire Capital Securities, an investment bank focused on financial institutions.

Mr. Stewart earned a BA from Middlebury College and is a CFA charterholder.

Tanmay Kumar

Vice President, Wafra
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Tanmay Kumar is a Vice President at Wafra, focusing on liquid alternatives portfolios and providing strategic capital to financial services firms and special opportunities.

Previously, Mr. Kumar was a Senior Investment Analyst at Phillips Academy’s endowment.

Mr. Kumar earned a BA from New York University and is a CFA charterholder.

Avantika Saisekar

Vice President, Wafra
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Avantika Saisekar is a Vice President at Wafra, leading the firm’s Environmental, Social & Governance (ESG) investment initiatives with an emphasis on product development and innovation.

Previously, Ms. Saisekar served as the Head of Institutional ESG Product at Northern Trust Asset Management.

Ms. Saisekar earned a BA in Economics from Claremont McKenna College. She has received formal training from the U.S. Sustainable Investment Forum. She currently serves on the assurance working group at the United Nations Principals of Responsible Investing (PRI), of which Wafra is a member, where she is advising the UN on confidence building measures that PRI recommends to signatories.

Business Development

Christine Iijima

Director, Wafra
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Christine Iijima is a Director at Wafra, leading the firm’s investor relations efforts and focusing on client relations, business development and strategic initiatives.

Previously, Ms. Iijima was focused on real estate portfolio management and held asset management, portfolio analysis and client relations positions at Carlyle and GE Capital.

Ms. Iijima earned a BA in International Business from Sophia University in Tokyo and an MA in Real Estate Finance from New York University.

Jonathan A. Pride

Senior Associate, Wafra
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Jonathan A. Pride is a Senior Associate at Wafra, focusing on business and product development for global institutional investors.

Previously, Mr. Pride was an Associate at Latham & Watkins, providing legal counsel to corporate clients in the U.S., Europe and the Middle East.

Mr. Pride earned a BA, summa cum laude, from the University of Georgia and a J.D. from Harvard Law School. He speaks French and Arabic fluently.

Whitepapers and Field Reports

Q1 2017: First Time’s a Charm

First-time private-equity funds provide compelling investment opportunities as the current low-return world is driving investors to rethink their risk/reward assessments across asset classes and strategies.

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News

Capital Constellation Enters into Strategic Partnership with Motive Partners

NEW YORK, N.Y., October 29, 2018 – Capital Constellation (“Constellation”), a provider of catalytic investment capital to investor entrepreneurs, announced today the closing of a strategic investment with Motive Partners (“Motive”), an investment firm for technology businesses that power the financial services sector.

Capital Constellation Takes Minority Ownership Stake in Ara Partners

NEW YORK, N.Y. and HOUSTON, TEXAS, July 16, 2018 – Capital Constellation (“Constellation”), a provider of catalytic investment capital to next-generation investor entrepreneurs, today announced the closing of a $150 million strategic partnership with Ara Partners Group (“Ara Partners”), a private equity platform investing in middle-market opportunities across the global energy and industrials sectors.

APFC, PIFSS, Railpen and Wafra Announce Formation of Capital Constellation and Its First Strategic Investment

NEW YORK, NY, February 22, 2018—The Alaska Permanent Fund Corporation (“APFC”), the Public Institution for Social Security of Kuwait (“PIFSS”), RPMI Railpen (“Railpen”), and Wafra announce the formation of Capital Constellation, a new venture to provide catalytic investment capital to promising private alternatives managers. Constellation also announced its first strategic partnership with private equity manager Astra Capital Management LLC.