Private Equity Firm Butterfly Promotes Peter Tang to CFO
A key team member since inception and former KKR executive, Peter brings over a decade of private equity and finance experience to strengthen Butterfly’s leadership team
Butterfly, a Los Angeles-based private equity firm specializing in the food sector, today announced the promotion of Peter Tang to chief financial officer (CFO) in addition to his current role as Managing Director. As CFO, Tang oversees all aspects of the firm’s financial activities and plays an important role in leading Butterfly’s strategic and growth initiatives. He will also be appointed to the board of the Butterfly Equity Foundation.
Tang joined Butterfly in 2016 as one of the first members of the investment team and has played a key role in several of Butterfly’s investments, including Bolthouse Farms, Pacifico Aquaculture and Pete and Gerry’s. Previously, Tang worked at KKR as an investor on the Consumer Retail Private Equity team.
“Peter has been an integral part of Butterfly’s success since our founding, and his promotion to CFO is an exciting milestone for the firm,” said Butterfly co-founders and co-CEOs Adam Waglay and Dustin Beck. “Peter’s exceptional financial acumen, coupled with his deep experience in private equity and strong commitment to the firm, make him the ideal candidate as the newest member of our leadership team. We look forward to working alongside Peter in his new role to transform and expand Butterfly’s scale and impact.”
“It has been a privilege working with Adam, Dustin and our talented colleagues over the past seven years, and I am excited to take on my new role and play my part to continue building the preeminent private equity firm in food,” said Tang. “The future of Butterfly is incredibly bright, and I look forward to helping accelerate our growth trajectory in the years ahead.”
Butterfly Equity specializes in the food sector, spanning the entire food value chain from “seed to fork” via four key segments: upstream & processing, industry enablers, multi-site and branded goods. Butterfly manages nearly $5 billion of assets to date and aims to generate attractive investment returns through deep industry specialization, a disciplined and data-driven investment process and a hands-on approach to portfolio transformation.