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 J. Valdez is a Senior Managing Director in Wafra’s Alternative Investments Division. Mr. Valdez serves on Wafra’s board of directors and Management Advisory Committee. His responsibilities include overall management of the Alternative Investments Division and overseeing negotiated transactions across the platform. Mr. Valdez leads investments in investment management firms and finance companies and across the spectrum of real assets. He serves on the boards of LOGIX Fiber Networks, Suntex Marinas, and other portfolio investments. Previously, Mr. Valdez was a corporate Associate at Covington & Burling LLP in New York practicing in private equity and mergers and acquisitions. His experience also includes positions at Chemonics International and Visa Europe. Mr. Valdez earned his B.A. from Stanford University and received his J.D. from Harvard Law School.

Daniel Adamson

Managing Director, Wafra
President, Capital Constellation
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Daniel Adamson is a Managing Director in Wafra’s Executive Advisory & Research Division. Mr. Adamson also serves on Wafra’s Management Advisory Committee. He is 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. At Wafra, Mr. Adamson leads Wafra’s efforts in business and product development, building financial and strategic solutions for sovereign investors and pension funds. Mr. Adamson is a member of the board of Wafra Capital Partners Inc. He also serves on the Advisory Board for Strategic Investment Funds at the World Bank. Previously, Mr. Adamson held senior positions at Ares Management and Bridgewater Associates. He began his career at McKinsey & Company. Mr. Adamson earned a B.A. summa cum laude from Yale University, an M.Phil. in Politics from Oxford University, where he was a Marshall Scholar, and a J.D. from the Yale Law School.

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 and Head of the Alternative Investments Division. Mr. Al-Mubaraki works closely with Wafra’s executive management in developing the strategic vision and overseeing key aspects of the Firm. He is also charged with assessing firm-wide investment activities. He joined Wafra in 1991, founded the Alternative Investments Division, continues to head that division and chairs the Investment Committee. From 1992 until 2012, Mr. Al-Mubaraki also served as Portfolio Manager specializing in European markets in Wafra’s Securities Division. 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 B.S. in Economics from Kuwait University.

Russell Valdez

Senior Managing Director, Wafra
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Russell J. Valdez is a Senior Managing Director in Wafra’s Alternative Investments Division. Mr. Valdez serves on Wafra’s board of directors and Management Advisory Committee. His responsibilities include overall management of the Alternative Investments Division and overseeing negotiated transactions across the platform. Mr. Valdez leads investments in investment management firms and finance companies and across the spectrum of real assets. He serves on the boards of LOGIX Fiber Networks, Suntex Marinas, and other portfolio investments. Previously, Mr. Valdez was a corporate Associate at Covington & Burling LLP in New York practicing in private equity and mergers and acquisitions. His experience also includes positions at Chemonics International and Visa Europe. Mr. Valdez earned his B.A. from Stanford University and received his J.D. from Harvard Law School.

Vincent Campagna

Chief Operating Officer, Wafra
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Vincent Campagna manages the corporate operational, compliance and legal group, which is responsible for monitoring firm-wide U.S. and international regulatory and legal, marketing, strategy and institutional investment funds’ compliance, and risk management initiatives, and together with a senior management team, 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 and his team are also involved in providing fund administration services and oversight. Mr. Campagna 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. Previously, he was the Director, Chief Compliance Officer and Vice President of Wafra Securities, Inc. (WSI), a broker-dealer and Vice President and of Wafra Capital Traders Inc., which was registered with the National Futures Association (NFA) as a Commodity Pool Operator (CPO) and a Commodity Trading Advisor (CTA).

Mr. Campagna joined Wafra in December 1993. He holds a B.S. in Finance and Management from Fordham University and an M.B.A. 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 Legal and Administrative Officer and Assistant Secretary of Wafra and forms part of the senior management team responsible for, among other matters, overseeing day-to-day operations, including back and middle office operations, risk management, and the administration, establishment and structuring of investment funds. Mr. Healy has more than 20 years’ experience in alternative funds. Prior to joining Wafra in 2014, Mr. Healy was the Chief Executive Officer of Meridian Fund Services Group, an independent fund administration company with offices in New York, Canada and Bermuda. At Meridian, Mr. Healy was responsible for all aspects of the business from operations, financial reporting, infrastructure, compliance and business development. Mr. Healy was a director of a number of Meridian entities and led the management team through the sale of the company to a large global financial institution. Prior to this, Mr. Healy was employed in legal, client facing and business management roles in the alternative fund space at JP Morgan, Citi and Bank of Bermuda and was based in New York, Dublin and 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 qualified as Solicitor in Ireland and holds a B.C.L. from University College Dublin.

James Gillies

Senior Managing Director, Wafra

Richard Safranek

Senior Managing Director, Wafra
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Richard Safranek is the Senior Managing Director of the Executive Advisory & Research Office (EAR). Prior to EAR, Mr. Safranek served as a portfolio manager within Wafra’s Securities Division where he covered equity markets in the Asia-Pacific and Emerging Markets regions. Before joining Wafra in 1995, Mr. Safranek served as an investment analyst at World-Wide Investment Co., Ltd., 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 has an M.B.A. from Columbia University, a B.A. in International Relations from Johns Hopkins University, and completed a Chinese language program at Beijing Foreign Language Institute.

Michael Shedosky

Managing Director, Wafra
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Michael Shedosky, CAIA, is a Managing Director in Wafra’s Alternative Investments Division. He is primarily focused on strategic investments in financial services firms and the liquid alternatives business. Previously, he held positions at Pergament Advisors LLC, Merrill Lynch, and hedgefund.net. Mr. Shedosky earned his B.A. from Hamilton College and holds the CAIA designation.

Daniel Adamson

Managing Director, Wafra
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Daniel Adamson is a Managing Director in Wafra’s Executive Advisory & Research Division. Mr. Adamson also serves on Wafra’s Management Advisory Committee. He is 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. At Wafra, Mr. Adamson leads Wafra’s efforts in business and product development, building financial and strategic solutions for sovereign investors and pension funds. Mr. Adamson is a member of the board of Wafra Capital Partners Inc. He also serves on the Advisory Board for Strategic Investment Funds at the World Bank. Previously, Mr. Adamson held senior positions at Ares Management and Bridgewater Associates. He began his career at McKinsey & Company. Mr. Adamson earned a B.A. summa cum laude from Yale University, an M.Phil. in Politics from Oxford University, where he was a Marshall Scholar, and a J.D. from the Yale Law School.

Connor Stewart

Director, Wafra
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Connor Stewart, CFA is a Director in the Alternative Investments Division. He is primarily focused on strategic investments in financial services firms and executing private investments across the division’s other lines of business. Prior to joining Wafra, Mr. Stewart was an Associate at Berkshire Capital Securities, a financial institutions focused investment bank. Connor earned his B.A. from Middlebury College and is a CFA charterholder.

Tanmay Kumar

Vice President, Wafra
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Tanmay Kumar, CFA is a Vice President in Wafra’s Alternative Investments Division. He is primarily focused on liquid alternatives portfolios and is engaged with providing strategic capital to financial services firms and special opportunities. Previously, he was a Senior Investment Analyst at Phillips Academy’s endowment. Mr. Kumar earned his B.A. from New York University and is a CFA charterholder.

Avantika Saisekar

Vice President, Wafra
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Avantika Saisekar is a Vice President in the Sustainable Investments Division. She leads the firm’s ESG (Environmental, Social & Governance) investment initiatives focusing product development and innovation. Previously, Avantika served as the Head of Institutional ESG Product at Northern Trust Asset Management. She has received formal training from the US Sustainable Investment Forum and 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 the standards of assurance the PRI must mandate on signatories. She earned her B.A. in Economics from Claremont McKenna College.

Business Development

Christine Iijima

Director, Wafra
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Christine Iijima is a Director in Wafra’s Executive Advisory & Research Division (EAR), where she focuses 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 General Electric. Ms. Iijima has an M.A. in Real Estate Finance from New York University, and a B.A. in International Business from Sophia University in Tokyo.

Jonathan Pride

Senior Associate, Wafra
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Jonathan A. Pride, J.D., is a Senior Associate in Wafra’s Executive Advisory & Research Division, where he focuses on research, and providing strategic financial consulting services to institutional investors. Prior to joining Wafra, Mr. Pride was an Associate at Latham & Watkins LLP, providing legal counsel to corporate clients in the U.S., Europe and the Middle East. He received his B.A. summa cum laude from the University of Georgia and his 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

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.