Cleveland-based Kirtland Capital Partners appointed Tom Littman as president and senior managing partner, while John Nestor will succeed founding partner Jack Turben as the chairman, maintaining senior managing partner and CEO titles.

Nestor cited Littman's efforts in a statement publicizing the appointment, noting that his functions at the firm have involved fundraising, deal sourcing, due diligence, and portfolio management. Littman originally joined Kirtland in 1995, and became a managing partner a decade later. Before joining the firm, he served as an attorney at Jones Day.

Nestor, meanwhile, joined the firm in 1986 out of Continental Illinois Bank, where he was previously a lender.

Oftentimes, sponsors time succession around new funds. Hellman & Friedman, last month, announced its new leadership structure alongside its new vehicle, with Brian Powers taking over as chairman.

Meanwhile, Kirtland's most recent fund, its fourth, went to market in 2003 with a target of $250 million, according to Securities and Exchange Commission filings.

Career moves