Irenic Hires Apollo’s Wang in Private Equity Push for Hedge Fund

Hedge fund Irenic Capital Management, known for its activism campaigns, is building out its private equity practice and has hired an ex-Apollo Global Management Inc. principal to oversee it.

The firm has recruited Apollo’s E-Fei Wang as a managing director and head of private equity to help the firm participate in more buyouts and also partner with other private equity firms to buy companies worth $5 billion or less, Irenic co-founder Adam Katz said in an interview.