April 01, 2026
GEM Announces Senior Leadership Promotions
New Managing Directors reflect the depth and continuity of the firm’s investment leadership
CHARLOTTE, NC (April 1, 2026) – GEM, an independent investment management firm that provides customized solutions for long-term investors worldwide, announced today the promotion of six senior investors to Managing Director, effective April 1.
The promotions reflect GEM’s continued investment in leadership development and the strength of its integrated investment platform. The individuals promoted to Managing Director are Kelly Barofsky, Caroline Dallas, Sal Del Giudice, Alex Kocher, Matt Libel, and Albert Zue. They join the firm’s senior investment leadership team, which includes Kate Simpson, who joined GEM last year to lead venture capital investing.
“These individuals exemplify the culture of excellence and long-term orientation that defines GEM,” said Chief Investment Officer Matt Bank. “Their leadership, judgment, and deep investment expertise have been invaluable to our success. As we continue to execute on GEM’s vision, I am grateful for their tireless pursuit of strong investment outcomes and thoughtful stewardship for our clients.”
Each of the newly promoted Managing Directors plays a critical role across GEM’s investment platform:
• Kelly Barofsky joined GEM in 2014 and co-leads the firm’s buyout investing platform.
• Caroline Dallas joined GEM in 2018 and leads the firm’s dedicated investment sourcing function, a key capability that supports opportunity discovery and helps strengthen the investment process.
• Sal Del Giudice joined GEM in 2015 and co-leads marketable investments, including public equity and hedge funds. He also contributes to total portfolio construction, with a focus on strategic and tactical asset allocation.
• Alex Kocher joined GEM in 2015 and is a senior client strategist who works closely with several of GEM’s largest and longest-standing OCIO clients on portfolio design, governance, and implementation.
• Matt Libel joined GEM in 2012 and co-leads marketable investments. As an experienced growth investor, he also supports GEM’s venture capital program.
• Albert Zue joined GEM in 2023 and serves as a senior client strategist. In addition to advising select OCIO clients, Albert leads custom investment mandates and has played a key role in expanding GEM’s presence in Asia.
“These promotions recognize sustained excellence and reflect the depth and strength of GEM’s investment organization,” said Jay Ripley, Head of Investments. “Each of these leaders has earned the trust of clients and colleagues through disciplined execution and sound leadership. We look forward to their continued contributions as Managing Directors.”
About GEM
GEM is an independent investment management firm that provides customized solutions for long-term investors worldwide. Since 2007, we have sought to deliver superior risk-adjusted returns to our clients by combining disciplined investment research and active portfolio management with exceptional service and enduring partnership. With a global platform, broad institutional investment capabilities, and an experienced team, we design portfolios to meet the unique needs of each investor we serve. For more information, visit www.geminvestments.com.
GEM announced the promotion of six senior investors to Managing Director. The promotions reflect the depth and continuity of GEM's investment leadership across buyouts, venture capital, marketable investments, client strategy, and investment sourcing, and reinforce the firm's long-term commitment to leadership development and the pursuit of investment excellence.
As the pipeline of emerging managers continues to grow, Caroline Dallas, a Director in GEM’s Investment Research Group explained to the Wall Street Journal Pro Private Equity why growing investor interest in this cohort could create meaningful tailwinds for the next generation of women-led firms.
Head of Venture Capital, Kate Simpson, joined David Weisburd on the How I Invest podcast to share how GEM evaluates venture managers and builds conviction through disciplined sourcing, rigorous reference work, and thoughtful fund-level underwriting in an increasingly bifurcated market.
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