Emerald Lake Capital Management, a growth-focused middle-market private equity firm, has announced significant leadership advancements, promoting four key investment professionals and adding a new associate to its team. Stephen Burhenn and Joe DeJean have been elevated to the role of Partner, while Sourabh Bhat and Derrick Lee now serve as Principals. These internal promotions, coupled with the hiring of Simrit Hundal as an Associate, underscore the firm's strategic emphasis on cultivating internal talent and expanding its capabilities.
A Commitment to Internal Talent
The recent promotions are a direct reflection of Emerald Lake's core philosophy of building a durable investment platform on a foundation of exceptional talent. Managing Partner Dan Lukas stated that the advancements recognize the significant contributions each individual has made to the firm's growth and its portfolio companies. Since its establishment in 2018, the firm has successfully executed ten platform investments and four realizations, attributing its strong track record to a collaborative team and a differentiated value creation framework.
New Partners to Drive Firm Strategy
Stephen Burhenn, who joined the firm in 2024, ascends to Partner, bringing extensive experience from his previous tenure at Ares Management's Private Equity Group. He currently serves on the Board of Directors for Compass Rail and previously held a board seat at US Salt. His background, which began at Citigroup's Investment Banking Division, includes deep expertise in leveraged buyouts and distressed transactions across the healthcare, business services, and consumer-retail sectors.
Joe DeJean, a member of the firm since 2019, has also been promoted to Partner, reflecting his integral role in numerous investments. He holds board positions at CORE Transformers, Five Star Energy Services, Mission Critical Group, and Pacific Defense. Before his time at Emerald Lake, DeJean was a Vice President at Audax Group and held roles at Water Street Healthcare Partners and Goldman Sachs, building a strong foundation in industrials and aerospace.
Strengthening the Principal Ranks
Sourabh Bhat’s promotion to Principal recognizes his significant involvement in a wide range of investments since joining in 2021, including Compass Rail and Pacific Defense. He currently serves on the Board of Directors of City Ventures, leveraging his prior experience on the investment team at Metalmark Capital. Bhat began his career in the Financial Sponsors & Leveraged Finance group at UBS, focusing on industrials, natural resources, and healthcare.
Derrick Lee, who joined Emerald Lake in 2024, has been elevated to Principal after contributing to several key investments, including CORE Transformers and MBO Partners. His background includes roles on the North American investment team at Cinven, where he focused on the technology and services sectors. Lee started his career at Bregal Investments, where he gained valuable experience executing investments in consumer, retail, and services businesses.
Expanding the Investment Team
Further bolstering its team, Emerald Lake has welcomed Simrit Hundal as an Associate. Hundal joins from RBC Capital Markets, where she was a member of the Investment Banking Division’s Mergers & Acquisitions group. Her experience spans a diverse set of industries, including financial services, power and utilities, and natural resources, providing valuable cross-sector expertise to the firm's investment activities and portfolio management.
These strategic personnel moves signal Emerald Lake's continued momentum and its focus on reinforcing its leadership structure for future growth. By promoting from within and selectively adding new talent, the firm is strengthening its capacity to source and manage investments effectively. This enhanced team structure positions Emerald Lake to continue delivering significant value across its portfolio in the competitive middle-market private equity landscape.