Private Equity Insider- July 15, 2009

Contractor Charles Collie became a full-time executive director at the Southlake, Texas firm, Prophet Equity. Collie, a lending professional whose former employers include PNC, is responsible for scouting out investments and portfolio-company debt. Prophet has been working since 2008 to raise $270 million for its debut fund, which would invest in troubled companies. So far, it has closed on $215 million of that amount.

Featured in The Grapevine of the July 15, 2009 edition of the Private Equity Insider.

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