Management Team
Keith W. Pennell - Managing Partner
Keith joined DFW in 1998 as a General Partner from First Atlantic Capital, a New York based middle-market LBO investment firm. He was with First Atlantic for six years, four years as a Partner. While at First Atlantic, Keith was responsible for sourcing, structuring, executing and monitoring portfolio investments in a broad range of industries. Prior to First Atlantic, Keith spent several years arranging private equity and debt financing with the investment banking group of Dean Witter. Keith holds a BA in Economics and Art History from Middlebury College.
Brett L. Prager - Managing Partner
Brett joined DFW in 2006 as a General Partner from Theo Capital Partners. Brett founded Theo Capital in 1999, where he led the firm in a variety of service and technology company investments, as well as consulting and merchant banking activities. Prior to forming Theo, Brett was the founder and Chief Executive Officer for three separate private equity-backed business and healthcare service companies. Brett began his 15 year investment career with JP Morgan Partners’ private equity group. Brett received a BAS from the University of Pennsylvania’s Moore School of Engineering and a BA from the Wharton School. Brett also holds an MBA from Columbia Business School.
Donald F. DeMuth - General Partner
Don co-founded DFW in 1983, after a 14 year career with Kidder, Peabody & Co. At Kidder, Don was a senior investment banker responsible for origination and execution of capital markets and M&A assignments for dozens of industrial and services companies, both middle market and Fortune 500 in size. Don served as head of the firm's audit committee, a Director and voting shareholder. During his tenure with Kidder, Don was also actively involved with the investment activities of KP Ventures, the firm's private equity vehicle. Don began his career with IBM as a systems engineer. Don graduated from Rutgers University with a BA and BS in Electrical Engineering and received an MBA from Harvard University.
Douglas H. Gilbert - General Partner
Doug joined DFW in 2011 as a General Partner bringing over 20 years of private equity and debt investing experience. Most recently, he was a Managing Director with MCG Capital Corporation where he invested equity and debt in the service and distribution sectors. Prior to MCG, Doug was a Partner with Winston Partners, a lower-middle market focused private equity firm. He came to Winston from Thayer Capital Partners, a Washington, DC based private equity firm. Doug has also worked at Boston Ventures Management, The Bridgeford Group and Lehman Brothers earlier in his career. Doug holds a BA in Political Economy from Williams College and received an MBA from Harvard University.
Brian C. Tilley - General Partner
Brian joined DFW in 2009 as a General Partner, and manages DFW's Washington, DC office. Prior to joining DFW, he was the founder and Managing Member of Wenzi Capital Partners, LLC. Brian previously spent ten years at AmeriChoice Corporation, and subsequently with United HealthGroup after United's acquisition of AmeriChoice, in a variety of executive, operating, financial, and corporate development roles. DFW has worked closely with Brian since 2002 when DFW sold a portfolio company, Great Lakes Health Plan, to AmeriChoice in an all cash transaction. Brian received a B.S. in Finance from Ohio University and an MBA from Northwestern's Kellogg School of Management.
John F. Hindelong - Senior Advisor
John joined DFW as a Senior Advisor, to assist the firm in developing new investment opportunities in the health services field. John's focus is also to bring industry insights and resources to bear with respect to DFW's existing health services investments. John is renowned as one of the leading health services analysts on Wall Street, holding the most Institutional Investor annual number one rankings of any healthcare analyst. In October 2011, John was named to Institutional Investor Magazine's Hall of Fame, as a "Best Analyst of All Time". Recently retired from Credit Suisse First Boston, which he joined in connection with CSFB's merger with Donaldson, Lufkin & Jenrette, John enjoyed a 30 year investment career with several major Wall Street firms. John holds a BS in Accounting from St. Peters College and an MBA from Fairleigh Dickinson University and is a Certified Public Accountant.
DeVer F. Warner - Associate
DeVer joined DFW in 2011 as an Associate. Prior to joining DFW, DeVer was an Analyst at Centripetal Capital Partners, a Connecticut-based growth capital firm investing in lower middle-market service and technology companies. DeVer’s experience includes an international strategy and business development role with ADC Telecommunications, where he initiated a subsidiary’s distribution efforts in Nigeria, and an Analyst position with Cape Venture Partners, a South Africa-based venture capital firm. DeVer received a B.A. in Economics from Union College and an MBA from The University of Virginia’s Darden School of Business.
Angela Nobre – Manager, Accounting and Administration
Angela joined DFW in 2010 to manage all administrative and accounting functions at the firm. Angela has over twelve years of relevant experience, most recently with Nippon (USA) where she was responsible for a wide variety of administrative functions including preparation of financial statements, cash management and monitoring of operating budgets.