Term Sheet — Wednesday, October 3


Good morning, Term Sheet readers.

Busy news day today. Here’s the rundown:

NEW FIRM: Term Sheet has learned that Golden Gate Capital longtime managing director Rajeev Amara is leaving the firm to launch his own called Arcline Investment Management. Amara had been at Golden Gate for more than 18 years where he founded and oversaw the firm’s industrials investing practice. The practice reportedly consists of 12 companies aggregating to more than $4 billion of revenues.

Golden Gate principal Shyam Ravindran and vice president Alex Iannaccone are also leaving to join Amara at his new venture. Ravindran had been at Golden Gate for more than 10 years, Iannaccone for more than six, and they were both part of the industrials investing practice.

Spokespeople for both Golden Gate and Arcline declined to comment.

There have been other firms to spin out from Golden Gate in previous years, including Sycamore Partners and Altamont Capital Partners.

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