New State makes three senior hires, Levine Leichtman exec Miriam Diwan joining as head of IR

New State Capital Partners has made three executive hires with Miriam Diwan from Levine Leichtman joining as head of investor relations.

Diwan was director of investor relations at Levine Leichtman. She was also previously part of the investment teams at Amzak Capital and Sun Capital.

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New State has also hired Steven Mayotte as operating partner, technology enablement. He joined the firm from Payomatic, where he was chief information officer.

The firm said Mayotte has operational experience developing strategy and executing transformational solutions across the financial services, hospitality, healthcare and real estate industries.

New State has also hired Michael Bernardi as associate and promoted Adam McDowell to vice president. McDowell joined New State in 2019.

David Blechman, founder and senior principal of New State, said, “It’s our pleasure to start off the new year welcoming these three experienced members to our team, while acknowledging Adam’s well-deserved promotion.

“With our recent investments in Avex, Arbor Works and Wilmington Paper, we are on our way to another year of rapid growth, and I’m certain that Miriam, Steve and Michael will be instrumental in contributing to our continued success.”

New State Capital Partners has raced to a $450m hard cap final close for its third flagship fundraise in May as its fund sizes continues to balloon.

The firm took just four months to close New State Capital Partners Fund III, which comes in at more than the total of its first two funds combined.

New State stormed to a target-busting $255m final close for its second fund three years ago, to follow a $131m debut fund close in 2016.

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