Photo: WCAS Fraser Sullivan
A helicopter crash Tuesday in Pennsylvania claimed the life of Tighe Sullivan, co-founder of WCAS Fraser Sullivan Investment Management LLC. The aircraft went down while Sullivan, who was 51, was returning from a golf outing, according to Bloomberg News’ Zeke Faux. The pilot, William Ellsworth, 52, also died while passenger Stephen Barral, a fraternity brother of Sullivan’s survived but is in critical condition.
According to his bio, Sullivan started the leveraged-loan firm with John Fraser in 2005 after leaving Deutsche Bank, where he was a managing director specializing in high-yield bonds and bridge financings.
“He was a wonderful guy,” Sullivan’s father-in-law Richard Lombard told Bloomberg News. “Full of spirit. An action person.”
In August, 3i Group Plc, the U.K.’s oldest private-equity firm, said it was starting a U.S. unit with WCAS Fraser Sullivan, which managed about $2.5 billion at the time. As a result of the transaction, Sullivan was slated to be co-head of the U.S. business reporting to Jeremy Ghose, CEO of 3i Debt Management.
Sullivan attended Colgate University and still served on the school’s alumni council, endowed a scholarship for his fraternity and received a service award from the school in 2008.
“Tighe’s a people person,” Fraser said. “He was great at developing relationships with people that ultimately proved valuable.”
Ellsworth was a first officer for American Airlines and had been pilot with the company for 19 years. He flew helicopters part time.