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Ex-CIT Group veterans form new private equity firm focusing on US mid-market25/02/2003. Source: AltAssets. 
 The founding partners of CIT Group's private equity unit have formed a new private equity firm with three other CIT professionals, named Laud Collier & Company.
The two founding partners are Paul Laud and Colby Collier.
The firm will initially manage a portfolio worth more than $200m of invested capital, which was built up when the team was at CIT Group. New investments will also be considered, in the manufacturing, distribution and service businesses.
‘This is a fantastic opportunity to build a new company with a team of highly skilled and experienced buy-out professionals, while continuing our responsibilities with our legacy portfolio,' said Collier.
The three other members of Laud Collier's team are Kenneth J Waters Jr, Edward R Burns and Michael D Horgan, all of whom previously worked at CIT Group.
The firm will also be advised by an executive council comprising owners and operators of middle market companies.
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