Dominic Petito has struck out on his own, launching mid-market investment firm Wisdom Capital Partners. The new shop, based in Greenwich, Conn., will target potential investments in closely held companies with enterprise values of below $50 million.
The new effort follows Petito's resignation from BMO Capital Markets in March, when he reportedly suggested that he would looking at entrepreneurial opportunities. Petito had most recently served as the co-head of US investment and corporate banking for BMO Capital Markets.
Petito began his career as a lawyer, logging stops at Hale Russell & Gray, Paul Weiss and Dorsey & Whitney. He jumped into banking when he joined Gerard Klauer Mattison, which was eventually acquired by the the Bank of Montreal in 2003.
Wisdom, Petito's first attempt at private equity, will not raise a traditional fund. The firm, instead, will corral a network of investors that will commit capital on a deal-by-deal basis alongside firm, which will be contributing its own capital.
A press release indicated that Wisdom has lined up a co-investor network made up of family offices, entrepreneurs, asset managers and high-net-worth individuals.